- About the process
- How long will it take me to obtain Bulgarian citizenship?You can apply for Bulgarian citizenship after holding the Permanent Residence Permit for 5 years.
- When do I have to enter the country after obtaining the visa?The validity of the visa is 6 months after the date of issue. The applicant can enter the country when he or she wishes within this 6 months.
- After obtaining a permanent residence permit, do I have to reside in Bulgaria for the whole process?No. Applicants are not required to be in Bulgaria during the whole process. However, when applying for a permanent residence permit and ID card the investor is required to be present in Bulgaria.
- How long is the permanent residence permit valid for?The permanent residence permit is valid for the same duration as the applicant's passport.
- Should I apply for a permanent residence permit, ID card and citizenship in Bulgaria or at a Bulgarian diplomatic mission abroad?The applicant must apply for a permanent residence permit and ID card in Bulgaria. If eligible, the investor can apply for citizenship in Bulgaria or at a Bulgarian consulate abroad.
- What kind of documents do I have to prepare?There are a number of documents that have to be prepared and legalized including, but not limited to, criminal record certificate, marriage license, proof of funds, etc.
- Are there any additional legal fees or application fees?Standard application fees include visa fees (approximately 130 EUR), residence permit and ID card application fees (approximately 650 EUR), legalisation fees, etc.
- How long do I have to wait for my citizenship application to be approved?The citizenship application is usually approved within a period of 6 months, but additional background checks and due diligence can lengthen the process a bit.
- General questions
- Am I required to be able to speak Bulgarian?No. Speaking Bulgarian is not required to maintain your Schengen Permanent Residence Permit. You will have to speak Bulgarian, if you would wish to apply for citizenship though.
- What's the difference between permanent residence and citizenship?A permanent resident is a foreigner who immigrated legally and has the right to live and work in another country only for a certain period of time, but he/she cannot obtain a passport, nor vote, and he/she can be deported under certain circumstances. A citizen can obtain a passport, vote and live in the country…Read More
- Are any job creation requirements like for the US EB-5 Investment Programme?No. There is no requirement for job creation, like the US EB-5 Investment Programme.
- Do I ever have to travel to Bulgaria?Yes, but only for 2 times. The applicant will have to travel only to apply for his Permanent Residence Permit, and later to apply and obtain his ID card, which can be a short trip of 4 business days. The applicant can apply for citizenship at a consulate abroad.
- Are there any minimum educational requirements?No. There is no minimum educational requirement.
- Who can apply for the Immigrant Investor Programme in Bulgaria?Any foreign citizen of legal age and with a clean criminal record who is not considered a threat to national security and can invest a minimum of 1,000,000 BGN, thus making him or her eligible to apply for Bulgarian citizenship. As of September 2018, almost 200 people applied to obtain Bulgarian citizenship on the basis…Read More
- Can my spouse and children obtain citizenship as well?Spouses and children of the applicant are eligible to acquire permanent residence. Though, they will not be granted citizenship at the same time as the applicant.
- Am I required to have previous business management experience?No. No previous business management experience is required.
- About the investment
- What's the minimum investment amount?The minimum investment size is relatively low - 1,000,000 BGN (approximately 511,000 EUR).
- What kind of investment profiles are there?There are a number of different qualifying investments, including but not limited to: A) UCITS (mutual funds) or ETFs, B) AIFs (VC and Private Equity funds), C) shares of a Bulgarian listed company, D) investment in a private company.
- What is the safest investment profile?The different types of UCITS (mutual funds), ETFs and AIFs have different risk profiles. The asset manager of the fund will be able to provide you with more information about the risk profile of the investment.
- Can the investment be financed by borrowing?Yes. The investment can be financed by borrowing. However, evidence of source of funds will be required. However, the acquired investment cannot be used as collateral by financial and credit institutions.
- How long do I have to wait for the investment verification?The investment verification usually takes 10 working days.
London,
We wish to provide all investors with up-to-date information about the process so that they can they can make an informed decision and optimise their wealth management strategy.
The Citizenship Insight team has prepared a list of questions that will help you understand the process better as we at our end understand the importance of having the right advisor to guide you through the steps of acquiring a second passport and Bulgarian (and thus EU) citizenship.