Bulgaria

OVERVIEW

The Bulgaria Fast-Track Citizenship Program and Bulgaria Permanent Residence Program allow an applicant to obtain permanent residency in 4-6 months, and full Bulgarian citizenship within 2 years. Bulgarian citizenship will allow the applicant and his/her family to live, work, and study anywhere in the European Union

Benefits of the Program

  • Government processing time for due diligence and permanent residence (PR) is 4-6 months.
  • Fast-track applicants can apply for citizenship after holding PR for 1 year and will receive citizenship within 6 months (less than 2 years total processing time).
  • The program offers both an attractive financing option and a real estate purchase option (which replace the 5-year investment in Government bonds).
  • Permanent Residents may reside, work, and study in Bulgaria (and will have visa-free access to Schengen countries, once Bulgaria joins Schengen).
  • Citizens have access to approximately 142 countries and territories, including Canada, the UK, and Europe.
  • There are no restrictions on nationalities (all foreign nationalities may apply).
  • Bulgaria allows dual/multiple citizenship
  • There is no age restriction, language requirement, in-country residence requirement, education requirement, or management/business experience requirement.
  • A signed declaration on the source of funds is required, but there is no detailed path of funds requirement.
  • Citizenship is transferable by descent, so is transferred to all children and grandchildren, regardless of age, marital status, or family size (including adopted children).
  • Bulgaria has one of the lowest tax rates in the European Union, and a free-trade environment.


QUALIFICATIONS

  • The applicant must possess a valid passport and reside legally in a country.
  • The applicant must pass a medical and security background check.
  • The applicant must provide a declaration explaining the source/origin of invested funds.
  • The applicant must be minimum age 18 years (no maximum age).
  • The applicant must invest in Bulgarian Government bonds for 5 years (via Confederation’s financing option or real estate purchase option).
  • The applicant must visit Bulgaria twice during the process.

ABOUT BULGARIA

Geography
Bulgaria is a Balkan nation with diverse terrain, encompassing coastline along the Black Sea, a mountainous interior, and rivers (including the Danube). It is located in southeastern Europe, bordering Romania, Serbia, the Republic of Macedonia, Greece, and Turkey. It has an area of approximately 111,000 km2.
Population
The country has a population of 7.3 million people, approximately 18% of whom live in the capital city of Sofia (1.3 million). Other cities and districts include Varna, Plovdiv, Veliko Tarnovo, and Stara Zagora.

Climate
Bulgaria has a temperate-continental climate, with hot summers and snowfall in winter (especially in the mountains). The average temperature in Sofia varies from 27°C in July and August, to -4°C in January.
Language
The official language is Bulgarian, and a large percentage of the population also speaks English, German, or French.

Economy
Bulgaria is part of the European Union, but not part of the Eurozone. The currency is the Lev (BGN), which is tied to the euro (€): 1 EUR = 1.95583 BGN.
The GDP in 2015 was USD $18,501 per capita, with growth of 3.9%. The economic sectors in Bulgaria are services (67.4%), industry (27.5%), and agriculture (5.1%). Bulgaria exported $26.1 billion worth of goods in 2016, which was mainly clothing, footwear, iron and steel, machinery and equipment, and fuels.

Real Estate Market
Since 2014, the property sector has experienced a revival due to population growth in the major cities of Sofia, Plovdiv and Varna. A lower interest rate for mortgages further fueled the desire to buy residential properties. Many young families are looking to rent 2 to 3 bedroom apartments or buy condos, and many older people are looking for 1 bedroom apartments.
Many new developers have entered the market, and building activity jumped between 2015 and 2018 (the average price of residential properties grew by approximately 8% per quarter during that time frame). The big cities are expected to see a prolonged growth of new residents. So, a stable growth of residential property prices is expected until at least 2021.

Education
There is a free public school system for children with Citizenship or Permanent Residency. There is also an American school that accepts international students, and a number of private schools that use the British curriculum (such as Saint George International School and Preschool in Sofia: http://stgeorgeschool.bg).

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