Bulgaria permanent residence and citizenship program
Both the Bulgaria permanent residence and 2-step fast track citizenship programs come with two investment options:
- 1. Financing option
- Non-recourse loan as well as reduced price
- 2. Real estate purchase option
- New and furnished units
With these programs, a family can quickly obtain both a permanent residency and citizenship in the European Union. Bulgaria remains to be the most engaging EU residence program.
Bulgaria permanent residence program: ordinary track
For the PR process, the applicant chooses one of the investment programs, either the financing option (EUR 175,000) or the real estate option (EUR 275,000). The duration of this program can be from 4 to 6 months. With a wait of 5 years and no additional investments, physical residence requirements or fluency in the Bulgarian language, the applicant may apply for standard citizenship.
Month 1: An application must be sent to the bank for an opening of a private bank account to buy Bulgaria government bonds. In this step also includes the preparation for a D visa application.
Month 2: In the nearest Bulgarian embassy or general consulate the investor may apply for a D visa. This is granted in a period of roughly 30 days.
Month 3: To apply for permanent residency by investment the investor visits Bulgaria to meet with the local migration office. Within 30 working days, PR applicants are usually considered.
Month 4-6: The permanent residence card will be issued within 3 working days once the residence application is approved and the investor is photographed.
Family reunification may now be started allowing family members to obtain a permanent residence in 3 months. With no additional requirements, the applicant may also apply for citizenship after a period of 5 years.
There are many benefits to this program including:
- no language, age, educational or management experience requirements
- Once Bulgaria is a member of Schengen all those with a PR will have visa-free access to all Schengen countries
- Bulgarian citizens have visa-free access to Canada, UK, and Europe as well as roughly 140 other countries.
- A Bulgarian PR allows the applicant and their family to live, work and study in Bulgaria
- All nationalities can apply
- Citizens of Bulgaria have a right to reside work and study anywhere in Europe
- After 60 months, an application can be sent for Bulgarian citizenship without any additional investments or physical residency requirements.
- Free movement, education, and healthcare will be provided to the applicant in Europe as well as the ability to vote in Bulgaria
- The applicant may purchase properties in all of EU and Schengen without restrictions
- There is a possibility to apply for the Fast Track Citizenship Program through more investments
For more information, feel free to contact us.
Located in southeastern Europe, Bulgaria is blessed with a mountainous interior and rivers such as the Danube. It is a Balkan nation with an encompassing coastline along the Black Sea. Bulgaria has an area of nearly 111,000km2 to hold its population of 7.2 million. Some cities and districts in Bulgaria include Tarnovo, Stara Zagora, Varna, and Plovdiv but 18% of its population is known to live in the capital city of Sofia (1.3 million). Snowfall in the winter is common especially in the mountains, with hot days in the summer times. The average temperature for the capital city varies from 27C in the summer months and -4C in January. French, English, and German are commonly heard in Bulgaria but the official language is Bulgarian. The currency in Bulgaria is the lev (BGN) which is tied to the euro: 1 EUR = 1.95583 BGN. After the GDP in 2015 leading to USD $18, 501 per capita, there had been a growth of 3.9%. The main economic sectors in Bulgaria are agriculture (5.1%), industry (27.5%) and services (67.4%). In 2016 Bulgaria had exported $26.1 billion worth of goods mainly including clothing, iron and steel, equipment, fuels, and machinery.