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Bulgaria

ABOUT

ABOUT BULGARIA

Officially known as the Republic of Bulgaria and is located in south-eastern Europe. It is bordered by Romania to the north, Serbia and Macedonia to the west, Greece and Turkey to the south, and the Black Sea to the east.

Bulgaria is a unitary parliamentary republic with a population of 7.4 million people, the strongest sectors of the economy are heavy industry, power engineering, and agriculture, all of which rely on local natural resources.

As a member of the European Union, citizens of Bulgaria have the right to live, work and study anywhere in Europe.

Bulgaria

QUICK FACTS

CAPITALSofia
SIZE440 sq km
POPULATION68,000
CURRENCYBulgarian lev
LANGUAGEBulgarian

RESIDENCY BY INVESTMENT

Established in 2009 and updated in 2013, the Investor Program for Residence and Citizenship in Bulgaria allows investors and their families to obtain a Permanent Residence Permit and become eligible for Bulgarian citizenship through investment.

Being a member of the European Union the program offers great advantages for investors who want to gain access to the European way of life.

Some of the unique characteristics of this program are the exemption of physical residence, the lack of language requirements and the existence of a fast track option.

The law under the Foreigners in the Republic of Bulgaria Act (FRBA) outlines the framework for entering, residing and exiting from the Republic of Bulgaria for the citizens of non-EU member states.

Investment options

The Foreigners in the Republic of Bulgaria Act (FRBA) allows investors to make a purchase of a BGN 1,000,000 (€511,292) Guaranteed Governmental Bond Portfolio under an Investment Agreement for a period of 5 years. At the end of the five-year period, the amount BGN 1,000,000 (€511,292) is returned to the investor without accrued interest. The investment is fully guaranteed by the government bonds.

*Note, there are options where clients may choosing a Financed Investment Option, where the investor pays a reduced amount of €180,000*. The reduced amount is used to finance a BGN 1,000,000 (€511,292) closed five-year term loan from a Bulgarian chartered bank. This loan is initiated and repaid at no further cost to the investor. Speak to a consultant to understand more about this. *Applicants who select the Financed Investment option will have to demonstrate net worldwide assets of more than €1,000,000. This is a requirement of the Bulgarian chartered bank.

Fast Track option

The fast track option allows investors to apply for Citizenship faster, by doubling the investment. The requirements for the Fast Track Option are

for the applicant to have at least 1 year of Permanent Resident status; and to double the investment by putting €512,000 in the capital of a Bulgarian company, which is carrying out a Priority Investment Project (as defined in the Investment Promotion Act); and to hold both investments for a period of at least 2 years after Citizenship is granted

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Investment Options

In September 2018, the Turkish  government reduced the minimum investment amount from USD one million to USD 250,000, which has been made it one of the most attractive citizenship-by-investment programs available today.

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BENEFITS

  • Total Min investment €180,000 for residence plus €100,000 for fast track citizenship within 2 years
  • You become a resident of an EU member country within 6 months
  • Fast track option to becoming an EU Citizen within 2 years
  • No requirement for physical residence
  • Dual and multi citizenships permitted
  • Lowest tax rates and free trade environment within the EU.
  • Access to free education in Bulgaria
  • Access to high quality healthcare in Bulgaria and EU
  • Conditional tax exemption on world income
  • Unrestricted right to live, work, study in Europe.
  • Possibility of visa-free travel to US & Canada

QUICK FACTS

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PROCESS

STEP 1

After we receive clearance of an internal due diligence check the client is required to pay 50% of the initial retainer fee (variable depending on the size of the family)

Upon receipt, a KCS advisor will provide, guidance and assistance in preparing all relevant documents for the citizenship application

STEP 2

Once the file is complete and has been fully reviewed, the remaining 50% of the retainer fees along with the due diligence fees and 10% of the Government Fees will be payable. (See listed above)

If the real estate option is chosen an initial deposit of approximately 10% (depending on the developer) will be required in order to reserve the investment.

STEP 3

The file is sent to Antigua for processing

STEP 4

The Government will release the results of the background check, along with approval pending final payment.

For the Real Estate option, the balance is payable.
For the NDF option, the contribution is now due.

STEP 5

Certificate of Naturalization is issued

STEP 6

Passport Issues

The Government of Antigua & Barbuda n introduced, for a limited time, a significant reduction in the National Development Fund donation amount required to qualify for the Citizenship by Investment Program. The new donation amounts are:

US$100,000 for a single applicant or a family of four 
US$125,000 for a family of more than four members

In addition to the donation, investors are required to pay government processing, due diligence and passport fees.

Government Processing fee
US$25,000 for a family of up to four members, plus US$ 15,000 per each additional dependent

Due Diligence fee
US$ 7,500 for the main applicant
US$ 7,500 for a spouse
US$ 2,000 for child 12-17 y.o.
US$ 4,000 for qualifying dependent over 18 y.o.

Due Diligence fee
US$ 7,500 for the main applicant
US$ 7,500 for a spouse
US$ 2,000 for child 12-17 y.o.
US$ 4,000 for qualifying dependent over 18 y.o.

Passport fee
US$ 300 per person

For the Real Estate 

A minimum of $400,000 USD into a government approved project,

Government Fees for Real Estate Option

$50,000 USD for a family of 4, plus $15,000 for any additional dependents

Plus due diligence fees and passport fees as mentioned above.

*all cases incur additional legal fees dependent on family size and case complexity

Oppurtunity
Application
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VISA FREE TRAVEL

Citizens of Antigua & Barbuda can travel to some 150 countries and territories without the need to obtain a visa. Please see below a list of countries that could be visited without the need of a visa for any citizen whether through birth, marriage or the citizenship by investment program.

AnguillaGrenadaNorway
ArubaGuatemalaPalau*
Armenia*GuyanaPanama
AustriaHaitiPeru
Azerbaijan*HondurasPhilippines
BahamasHong KongPoland
Bangladesh*HungaryPortugal
BarbadosIcelandSaint Kitts and Nevis
Belarus*Iraq*St Lucia
BelgiumIrelandSaint Vincent & the Grenadines
BelizeItalySamoa*
BermudaJamaicaSao Tome and Principe*
BotswanaJordan*Seychelles*
British Virgin IslandsKenya*Singapore
BulgariaKiribatiSlovakia
Cambodia*KosovoSlovenia
CanadaLaos*Solomon Islands*
Cayman IslandsLatviaSouth Africa
ChileLebanon*South Korea
ColombiaLesothoSpain
Comoros*LiechtensteinSuriname
Cook IslandsLithuaniaSweden
Costa RicaLuxembourgSwitzerland
CubaMacau*Tanzania*
Czech RepublicMadagascar*Togo*
DenmarkMalawiTrinidad and Tobago
Djibouti*MalaysiaTunisia
Dominican RepublicMaldivesTurkey*
East Timor*MaltaTurks and Caicos Islands
EcuadorMauritiusTuvalu*
Egypt*MicronesiaUganda
El SalvadorMonacoUnited Kingdom
EstoniaMontserratVanuatu
FijiMozambique*Vatican City
FinlandNauru*Venezuela
FranceNepal*Zambia
GeorgiaNetherlandsZimbabwe
GermanyNetherlands Antilles
GibraltarNicaragua
GreeceNiue

Visa upon Arrival*

ArmeniaMadagascar
AzerbaijanNauru
BangladeshNepal
BelarusPalau
CambodiaTanzania
DjiboutiTogo
East TimorTurkey
EgyptTogo
IraqTurkey
MacauTuvalu

* Please note that this information was produced by an unofficial source and is not shown as an exact or official list. In order to confirm the information on this page please contact the relevant authority

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