Bulgaria Residency and Citizenship by Investment

Bulgaria Business Visa

Bulgaria business visa On 26^th February 2021, the Bulgarian Parliament overhauls the current Bulgaria Investment Citizenship programs by introducing Bill that amends the Bulgarian Citizenship Act. The recent changes will witness more investment options and faster processing times. However, the changes will be in force in the next 15 days from the amendment bill. It will give more time to the business applicants around the world to prepare for this improved program.

What are the main changes in the Bulgaria Golden Visa?

The primary change is the introduction of New diverse range of investment options
Government/sovereign bonds will no longer be available for the program
The investment requirement remains the same at the reasonable level of €500,000 (For fast-track process – Doubled Investment €1 million)
The thresholds for investment in one of the options (directly held equities) are increased
Fast Track route and Standard Route will remain available for the applicants
Introduction of Additional assurances to applicants
A shorter time frame of 1 year for the spouses/dependents for Citizenship
Processing timelines for Bulgaria Golden Visa are expected to be faster than before

What are new investment options for Bulgaria Residency by Investment?

Stocks traded in Bulgaria – EUR 1,024,000 / USD 1,240,000 / INR 9 Crore
UCITs (EU controlled fund vehicles) including Exchange Traded funds (ETFs) with a focus on Bulgaria – EUR 512,000 / USD 620,000 / INR 4.5 Crore
Investing in Alternative investment funds (AIFs) (including private equity, venture, and hedge funds), with a focus on Bulgaria – EUR 512,000 / USD 620,000 / INR 4.5 Crore
Participation in a Bulgarian company with Certified Priority Investment Project (CPIP) – EUR 1,024,000 / USD 1,240,000 / INR 9 Crore
Participation in a Bulgarian company and employing minimum 10 Bulgarian Residents – EUR 257,000 / USD 310,000 / INR 2.23 Crore
Participation in a Bulgarian company, invested in any sector or geography – EUR 3,075,000 / USD 3,700,000 / INR 26.9 Crore
Investment in a Certified Investment Project (CIP) (different from CPIP above) – Exact amount and conditions are project-dependent for Bulgaria Residency by Investment applicants

ELIGIBILITY CRITERIA

Must be able to make the abovementioned investment from any one category
Demonstrate exact source of funds and finances
Must maintain the investment for additional two years past citizenship grant and five years in total
Have Identity Proof of the applicant and dependents
Provide information on the vocational/business/professional background of the applicant with relevant documents
Have Criminal Record Check from the country of origin or permanent residence

APPLICATION PROCESS

Arrange documents and prepare an application for the Bulgaria Golden Visa
Submission of application and processing fees
Sign documents at the Bulgarian Consulate
Transfer the required Investment funds
Receive Investment Certificate by Bulgarian Ministry of Finance
Take a second appointment with the Bulgarian Consulate
Application for Visa D
After approval, take the 1^st Trip to Bulgaria
Apply for a Permanent Residency Certificate (PRC)
After approval, take the 2^nd Trip to Bulgaria
Apply for Bulgaria ID Card

FEES

Standard Route:

EUR 20,000 – Family of 2
EUR 5,000 – Dependent up to 5 children
EUR 2,500 – Each additional Child

Due Diligence Fees:

EUR 7,000 – Main applicant
3000 – Dependents age 14 to 18
5000 – Dependents age above 18

Fast Track Route for Europe Business Visa:

EUR 20,000 – Family of 2
EUR 5,000 – Dependent up to 5 children
EUR 2,500 – Each additional Child

Due Diligence Fees:

EUR 7,000 – Main applicant
3000 – Dependents age 14 to 18
5000 – Dependents age above 18

PROCESSING TIME

Processing time is 6 to 12 months for the permanent residency in Bulgaria. For Citizenship, there are two routes – Fast Track and Standard. With a fast track route, applicants can attain Citizenship after two years, and the Standard course offers Citizenship after five years.

How Abhinav can help for Cyprus Residency by Investment:

Abhinav is the only Immigration specialist In India with an expert team and experience dealing with business and investor applications for more than two decades. It is a highly demanding, high-risk category of Immigration.
Profile Assessment to identify the right country and program, viz. Residency by Investment or Citizenship by investment or Entrepreneur programs.
Exceptional advice for dependent/non-dependent children and parents
Superior guidance for clients having limitations of staying outside India for long
Documentation guidance is critical to acceptance, including the all-important area of source and path of funds, business, and personal net worth.
Professional Business Plan Drafting by the best business visa consultants
Market Research vis-à-vis Business for Sales listings and Start-up ideas.
Online IELTS Coaching.
Overseas Company Incorporation.
Taxation planning and advice.
Planning and coordinating Exploratory Visits with active assistance from Local associates
Start-up Guidance and coordination vis-à-vis Incubators, Angel Investors and Venture Capitalists
Application Process through licensed Immigration consultants/Attorneys
Turnkey services
Concierge services for Premium client