Bulgaria is one of the easiest European countries to apply for visa. Its government has even made it possible to get citizenship by investment.
If you are in Dubai and want to apply for a Bulgaria visa from Dubai, read this article to find out how to get Bulgaria citizenship by investment.
First, it is important to note that the Bulgaria government revised the terms and conditions to qualify for Bulgaria citizenship by investment.
Before revisiting the terms terminated in 2022, a foreign entrepreneur was only required to make a certain minimum investment and, with time, will acquire citizenship.
However, that is no longer the case as the terms were revised, and we have everything you need to know here.
The EU has urged nations with citizenship by investment programs to either terminate or revise the terms under which they were established.
Bulgaria decided to change its scheme rather than cancel its program, thus creating fresh investment opportunities and new criteria.
As of 2023, investors seeking Bulgarian citizenship by investment have a single pathway to do so. Make a minimum investment of 500,000 BGN (about €255,000).
Investors from other countries who are interested in immigrating to Bulgaria have the opportunity to do so and also acquire permanent residence.
The following is a breakdown of the main steps involved in acquiring permanent residency in Bulgaria :
To be eligible to apply for permanent residency in Bulgaria, you need to have held a temporary residency for at least 5 years and then live in the country for at least 30 months during any given 5-year period.
By registering a business in Bulgaria, non-Bulgarians can quickly obtain a temporary residency permit that is good for up to a year and can be renewed annually, valid for a maximum of one year. The permanent resident card in Bulgaria has a validity period of five years.
After these procedures have been finished, the person holding the permit will be able to apply for a Bulgarian ID and will be expected to comply with the requirements for the renewal of his residence.
Naturalization is among the most typical routes to acquiring citizenship in Bulgaria. Through the naturalization procedure, a Bulgarian passport will be issued to a candidate if it has been determined that the candidate satisfies all of the requirements outlined in the Citizenship Act.
This necessitates maintaining residency in this area for a predetermined period before applying for a second passport.
It has always been known that starting a company in Bulgaria is one of the best ways to move there and finally become a citizen.
This option is now part of this program, but you have to meet the following requirements to be eligible :
In terms of the amount of money that needs to be spent, this scheme is very competitive with those in other European countries.
Under the new rules, the main benefit of moving to Bulgaria and applying for citizenship by investment is that the main applicant's partner can apply for citizenship one year after the main applicant gets their Bulgarian passport. This is the main benefit of moving to Bulgaria and asking for citizenship by investment.
The child will still be able to get Bulgarian citizenship after six months since the person who invested became a citizen.
Bulgaria was one of the first countries to change its policies to meet the new EU standards. Because of this, people from countries not members of the EU now see this country as a safe place to move to.
According to the Bulgarian Commercial Code, owners of foreign companies have the same legal rights as owners of domestic companies to establish economic operations in Bulgaria.
Compared to the Citizenship by Investment scheme, registering a business in Bulgaria as a foreign national has no specific requirements, making it far less complicated.
When starting a limited liability company, the two most important requirements are having at least one shareholder and a director.
Two of the most significant advantages of conducting business in Bulgaria are the ability to establish a company through a power of attorney and the absence of a requirement that the company's beneficial owner is physically present in the country to register the company.
Please get in touch with us if you are considering moving to Bulgaria and require assistance in doing so. You can get assistance from our trained consultants.
