The Bulgarian Investment Immigration Program: Now even better alternative for EU citizenship
Let’s face it. The challenges of life compel
us to optimize resources and to search for the best life style. In time of
global trade, unlimited access to information, technology innovation, a second
passport is an easy tool for better living for people who can afford to invest
in it. National governments worldwide compete to attract HNWI’s financial
assets into local economies, offering beneficiary access to their own
nationality.
Europe remains the world most wanted
destination on the Second Passports’ market. National governments challenge
each other with easier and shorter application procedures, lower investment
requirements and greater benefits along with the acquisition of a national
statute. Although, the alternatives are numerous, not all of them are able to
respond to the high requirements of the investors.
Тhe Bulgarian government has been
exploring this financial stream into local economy for already 7 years, but just
since 2013 the Program has been fully functional, offering competitive
opportunity, organized under the strict European regulations.
Yes, the Bulgarian Investment Immigration Program is not as famous as other similar programs, but definitely is more attractive.
The design of the BIIP responds to the
highest investor’s requirements, implying the strict European legislation.
Foreign investors are welcomed to purchase a Government Bonds portfolio, or to
acquire non-financial assets for term not less than 5 years. In comparison to
the Hungarian Bond Residency Program, Bulgarian GBs are purchased directly from
the primary financial dealers at the financial market. The full portfolio is
guaranteed by the Bulgarian Government and the annual coupon payment goes
directly to the investor. The second option, assets acquisition, is regulated under
a Trust Agreement with a Bulgarian bank. The investor remains owner of the
purchased assets from the moment of investment till the exit of it. The type of
the assets depends on the preferences of the investor. In comparison to Cyprus,
Portugal or Spanish Residency opportunities, the BIIP offers wide freedom of
choice of investment. Although possible, the investment is not limited to real
estate property only. No other similar initiatives provide such freedom of
choice and transparency of the procedures.
Yes, the Bulgarian Investment Immigration Program does not issue a residency permit in 1 month, but its procedures are fully transparent and clear and fully correspond to the European legislation.
Some of the IIP in Europe compete to
limit the process of residency issue, so their actions stand on the edge of the
European legislation as it is the case with the Malta Program. The European
institutions forced a review of the governmental decisions which brought to
implication of a compulsory 1 year residency before the opportunity for
citizenship to be available for the foreign investors. Hungary also limited its
residency permit procedure to 1 month, but soon after this amendment, the Program
was decided to be suspended, so no experience was recorded.
The BIIP is a two stage Program. The
first stage allow the investor to obtain Permanent Residency in the country.
The process takes 4 to 6 months. In comparison to 1-month option it seems to be
long, but, this term responds to all European requirements for security checks.
The second stage is optional Fast Track Bulgarian Citizenship, which requires 1
year of PRC holding and 6 months to proceed the application before the
Bulgarian authorities. In fact, this is one of the fastest and most precise
citizenship procedures in Europe. It provides European residency to the
investor and all members of the family.
Yes, the Bulgarian Investment Immigration Program is not the cheapest at first glance, but overall it is the most reasonable investment immigration opportunity in Europe.
Most of the IIP sell national statute.
It seems to ease the procedures, because it turns the investment immigration on
a sale deal, but in fact it is neither that easy, nor simple. According to the
European legislation the sale of national statute is illegal. To prevent any
prosecutions, some of the EU member states call the purchase “an investment” - usually
nonprofit investment. Some programs require define as “an investment” huge
donations to Governmental Funds or purchase of properties in a non-active
property market.
The BIIP offers real investment. The
total invested amount is under the investor’s control during the whole compulsory
term of investment. Investment is totally liquid.
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