Bulgaria’s citizenship by investment programme was introduced in its current form in late 2013. In domestic terms, the key innovation was to permit permanent residence leading to citizenship based on an investment of BGN 1,000,000 (approx €512,000) and expedited processing of 2 years where an investment of BGN 2,000,000 (approx €1.02m) was made.

At times when you have cause for concern over your and/or your family’s future, having a second citizenship can alleviate the pressure on you and your loved ones and create new options. Stabler parts of the world such as the European Union (EU) are associated in the early 21st century with freedom and security.

On 22.01.2019 and 23.01.2019, the Government of Bulgaria (GoB) announced intended amendments to Bulgaria’s citizenship law. These will, if passed in Parliament, abolish investment citizenship and align Bulgaria with the 17 EU member-states which the European Commission in its simultaneous report (Report) classifies as offering solely investment residence. GoB intends to introduce a draft Bill to Parliament as soon as the end of this month. It is as yet unclear when it is intended for the change to take effect.

Nestor Suarez and Desislava Simeonova, associates at New Balkans Law Office, were invited to the Global Investment Immigration Summit that took place in Mumbai, India on 1st February 2020.

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