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Acquisition of Bulgarian citizenship throught investments

According to the Bulgarian legislation, there are two procedures that could be executed for the acquisition of Bulgarian citizenship through investment – a regular procedure, which takes up to minimum five and a half years, and a shorter procedure which takes around a year and a half.

For the execution of the regular procedure the citizenship applicant should (the options are cumulatively listed):

• have turned 18 years;

• be not sentenced by a Bulgarian court and not to be a subject to criminal proceedings;

• have an income and occupation allowing him or her to earn his living in the Republic of Bulgaria;

• have a command of the Bulgarian language which is verified following a special procedure;

• have been released from his or her previous citizenship (if he/she is not an European union citizen);

• have been granted a permanent residence permit for the Republic of Bulgaria (the options are alternatively listed):

– through an investment amounting to between BGN 1 000 000 and BGN 6 000 000 depending on the type and character of the investment;

– by conducting activities of implementation and/or maintenance of an investment;

– through a contribution to the capital of a Bulgarian trade company exceeding BGN 500 000;

– at the presence of a long-term residence permit, acquired on the grounds of a type “D” visa and an investment exceeding BGN 600 000, which amount should be maintained for 5 years or an investment in economically disadvantaged areas by a contribution to the capital of a Bulgarian trade company above BGN 250 000, that is maintained for 5 years, and at least 5 job positions for Bulgarian citizens have been opened and maintained during the residence period.

• five years have already expired since the acquisition of the permanent residence permit.

For the execution of the shorter procedure the citizenship applicant should (the options are cumulatively listed):

• have turned 18 years;

• be not sentenced by a Bulgarian court and not to be a subject to criminal proceedings;

• have been granted a permanent residence permit for the Republic of Bulgaria (the options are alternatively listed):

– through an investment exceeding BGN 1 000 000 or through an increase at this amount of an investment;

– have acquired a permanent residence permit not sooner than one year ago on the grounds of the conduct of activities of implementation and/or maintenance of an investment;

• one year has already expired since the acquisition of the permanent residence permit.

Both procedures (the regular and the summary) are executed in three stages, the first of which is the issuance of a type “D” visa. After receiving such, the applicant should acquire a permanent residence permit, on the basis of which the third stage begins – the very procedure of acquisition of Bulgarian citizenship. This stage is executed in two phases:

• Before the Minister of Justice;

• Before the President of the Republic of Bulgaria.

The article above is intended for information purposes only by briefly introducing to the reader the legal option for acquisition of Bulgarian citizenship through investment. It should not be construed as (binding) legal advice and is not claimed to be exhaustive. For a thorough understanding of the subjects covered and prior acting on any issue discussed we kindly recommend Readers consult BWSP Ilieva, Voutcheva & Co. Law Firm team.

Please feel free to contact us for more detailed information on the subject matter.