passports.io website
residencies.io website
Bank Accounts website
Flag Theory website
Subscribe to Flag Theory Newsletter to receive Internationalization, Business-driven Structuring Intelligence directly to your Inbox

Bulgaria

Immigrant Investor Program

The Bulgarian Permanent Residence and Fast Track Citizenship Programs have been established to allow applicants a relatively swift process for attaining Permanent Residency and Citizenship, with two options: A Financing Option and/or a Real Estate Option.

Once the initial application and Investment is approved, Permanent Residency is granted. An applicant's spouse or dependents can be included in the application for a supplemental investment amount.

After one year of Permanent Residency, the applicant then has the option to make another investment for Fast Track Citizenship.

Citizenship can then be granted within around six to twelve months. So, within two years from the start of the application, you can potentially receive your Bulgarian passport, bringing access to 153 countries visa-free or with visa-on-arrival around the world.

investment


Permanent Residence and Fast Track Citizenship Program

The Bulgarian Citizenship by Investment Program now has two investment options to choose from for obtaining Permanent Residency (PR) and Fast Track Citizenship (FTC).

First, applicants must choose either the Financing Option (€175,000), or the Real Estate Option (€273,000) to kick-start the PR Process.

After 1 year of permanent residency, the applicant can once again choose a second investment of either a Financing Option (€145,000), or a Real Estate Option (€263,000) for the FTC process.

This allows applicants to 'mix and match' the two options, so for example, one can choose the Real Estate Option for the PR process, followed by the Financing Option for the FTC process.

A Supplemental Offering (€95,000 Financing Option, or €245,000 Real Estate Option) allows a spouse or non-dependent child to apply for PR or FTC at the same time as the main applicant.

* All prices include professional, due diligence and government fees, which are subject to change.

If you want to know further details about this program apply now for a free private consultation call."

Requirements


- Be 18 years of age or older
- Possess a valid passport and reside legally in a country
- Visit Bulgaria three times, for 2-4 days at a time (but no further in-country residence is required)
- Pass a due diligence and medical check
- Make only a declaration on source of funds (no detailed documents required)

Restricted Nationalities


No nationality is officially restricted

dual citizenship


Dual citizenship is recognized in Bulgaria. You are not required to renounce your previous nationality to become a citizen of Bulgaria.


Documents Required


  • Original or Certified copy of Marriage Certificate (if applicable)
  • Original or Certified copy of Birth Certificate (if applicable)
  • Certified copy of passport
  • Original Police Clearance Certificate
  • Medical Certificate
  • Documents certifying Business Investment
  • Proof of net wealth
  • Proof of payment of nonrefundable processing and due diligence fees
  • Limited Power of Attorney
  • Statement of Source of Funds
  • Titles of Financial assets purchased
  • dual citizenship Yes
  • Family members included No
  • land ownership Yes
  • Physical residence required No
  • Personal visit required Yes
  • Language skills required No
  • Interview required No
  • Investment Single €430,000
  • Investment Family 4 €860,000
  • Minimum annual income -
  • Time to citizenship 18
  • Time to permanent residency 6
  • Visa-free countries 154
  • Financing available Yes

Fees

certificate issuance fee BGN 1,000
total fees main applicant BGN 1,000
certificate issuance fee BGN 1,000
total fees spouse BGN 1,000
certificate issuance fee BGN 1,000
total fees dependent -18 BGN 1,000
certificate issuance fee BGN 1,000
total fees dependent 18-25 BGN 1,000
certificate issuance fee BGN 1,000
total fees dependent +65 BGN 1,000

Country details

Bulgaria
BGN
359
Sofia
Europe
Bulgarian
7148785
The Republic of Bulgaria is a country located to the southeast of the European continent, and is a member of the European Union. It borders Romania to the north, Serbia and the Republic of Macedonia to the west, Greece and Turkey to the south and the Black Sea to the east.

Although being a relatively large country, its population is just over 7 million. Most are concentrated in cities, mainly in its capital Sofia and to a lesser extent the UNESCO World Heritage Sites of Plovdiv and Varna. So, there are abundant large, undeveloped natural areas too.

Bulgaria is well-known for its ski resorts in winter, its thermal water springs and its almost 200 km of Black Sea beaches.

Its official language is Bulgarian and its official currency is the Bulgarian Lev (BGN), pegged to the EUR at a 1.95:1 ratio.

Visa Free Travel

With your new passport from Bulgaria you'll be able to access 154 countries visa free
>

Taxes

Becoming a permanent resident or citizen of Bulgaria does not automatically make you a tax resident. To be a tax resident an individual must reside in Bulgarian territory for 183 days in a tax year, have a permanent address in Bulgaria, or have their center of vital interests in Bulgaria. The criterion of center of vital interests prevails over the one of permanent address. That is, someone who has a permanent address in Bulgaria, but whose vital interest center is in another country, may not be considered a resident for tax purposes.

Bulgaria has one of the lowest tax burdens in the European Union. Tax residents are subject to tax on their worldwide income at a flat rate of 10%. A tax credit for foreign tax paid is usually available. Dividends and interest are subject to a final tax of 5% and 8%, respectively. Capital Gains are taxed at the standard PIT rate. Gains derived from companies listed in the Bulgarian or a European regulated stock exchange, and those from properties held 3 years (1 property) or five years (2 other properties) are exempted.

As of 1 January 2019, Bulgaria introduced new rules on Controlled Foreign Corporations (CFCs). These include undistributed profits of low-taxed foreign subsidiaries (and PEs) being included in the tax base of the Bulgarian controlling entity, subject to 10% Bulgarian CIT. Certain exemptions apply, among them that profits of CFCs with substantive economic activity will not be subject to Bulgarian tax.

Bulgaria levies a real property tax of between 0.01% and 0.45% on the tax value of the property. There is an inheritance and gift tax of between 0.4% and 6.6%, depending on the relationship of the beneficiary. There are no net worth and transfer taxes.

On corporate taxation, resident companies are subject to a 10% flat tax on their worldwide income. Dividends received from a Bulgarian resident entity or an EU/EEA company are not taxable. Dividends received from a non-EU/EEA resident are included as taxable income. A tax credit or exemption may apply under a tax treaty or a domestic tax credit if there is no tax treaty available. Capital Gains are considered ordinary income and therefore subject to CIT. However, capital gains from the disposal of shares listed in the Bulgaria Stock Exchange or in any EU Stock Exchange are fully exempted. If there is no tax treaty available, payments to non-residents are usually subject to a 10% withholding tax. Learn more about Bulgaria’s corporate taxation, legal framework and tax treaties at incorporations.io/bulgaria.

This should not be construed as tax advice. Flag Theory | Passports.IO has access to a global network of qualified attorneys and accountants who can give you the proper advice for your particular circumstances. Contact us for further information.

  • Property tax Yes
  • Transfer tax No
  • Inheritance tax Yes
  • Net worth tax No
  • CFC law No
  • Tax residency days 183
  • Personal income tax rate 10%
  • Capital Gains tax rate 10%
  • Investment income tax rate 8%
  • Territorial taxation No

Procedures

Flag Theory | Passports.IO and our local law firm in Bulgaria will handle all paperwork, and guide you through each step of the process to ensure that it is as fast, efficient and pain-free as possible.

1. The applicant submits a questionnaire and all application documents and relevant fees for due diligence checks and the Bulgarian government.
2. Following preliminary approval, the applicant must travel to Bulgaria to open a local bank account and to sign/notarize the relevant documents.
3. The applicant must then transfer the necessary investment funds to their Bulgarian bank account.
4. We will then facilitate the non-recourse loan financing or real estate purchase, and purchase Government bonds (or Bulgaria-listed stocks) for the applicant.
5. The applicant will then apply for Visa D at their nearest Bulgarian embassy or consulate, and once granted can travel to Bulgaria to submit the PR application.
6. Following approval of the PR application, the applicant will need to visit Bulgaria a third time to undergo biometrics procedures and apply for the PR card.
7. After 1 year in possession of PR status, we assist the applicant in applying for Fast Track Bulgarian Citizenship.
9. Once approved (normally within 2 years of the beginning the process of PR residence with FTC), the applicant can pick up their passport in Bulgaria, or at any Bulgarian embassy in the world.

For further information on Bulgaria’s immigrant investor program and fast-track citizenship, and detailed procedures, contact us for a free private consultation.

Consultation with

In order to better serve you, we ask that you please fill out the following form as accurately as you can and provide as many details as possible. Thank you.

Your privacy is important for us and we will keep your information secure. View our privacy policy

Flag Theory Weekly Letter

Subscribe to receive Internationalization, Business-driven Structuring Intelligence directly to your inbox. You will also get the Flag Theory Master Course, a 1-month course with valuable and actionable information that you must consider when going global.

Your privacy is important for us and we will keep your information secure. View our privacy policy

View past newsletters