CONTACT US Global Sales Offices UNITED ARAB EMIRATES Saleh Bin Lahij Building, Office 210, Al Garhoud St, PO BOX 36566, Dubai T +971 4 282 7221 F +971 4 286 8730 HONG KONG 20th Floor, Central Tower, 28 Queen s Road, Central, Hong Kong T +852 2 159 9605 F +852 3 007 5129 info@elevay.com UNITED BULGARIA STATES RESIDENCY AND CITIZENSHIP BY INVESTMENT PROGRAMME COUNTRY SUMMARY WWW.ELEVAY.COM EXPANDING YOUR FREEDOM last updated in November 2015
WE HELP PEOPLE TO ACHIEVE THE FREEDOM THAT THEY VE ALWAYS DREAMED OF, UNLOCKING THE DOORS TO A LIFE WITH FEWER BOUNDARIES AND MORE OPPORTUNITIES THAT CAN SOMETIMES ONLY COME WITH THE RIGHT CITIZENSHIP AND PASSPORT. IN BUSINESS SPEAK; WE ARE ELEVAY AND WE ARE RESIDENCY AND CITIZENSHIP PLANNERS.
EXPANDING YOUR FREEDOM ABOUT ELEVAY WHAT DO WE DO? As experts in our field, we understand what it takes to get things done and we know that nothing less than a first class, transparent service will do. It s why we provide you with your very own dedicated concierge that means when you receive a call from us it s not to tell you about a problem, it s to tell you how we ve already solved it. And when we say dedicated, we mean dedicated, it s why our clients remain our clients for years not weeks because we help them solve a diverse range of problems. HERE ARE JUST SOME OF THE SERVICES WE PROVIDE: Citizenship by Investment (Economic Citizenship) Residency Real Estate Onshore/Offshore Company Formations Legal Via Lawyers Mortgages Trademark & Patents Registration Property Closing Banking (current, savings and investment) Hotel and Condominium Development Marketing WHY ARE WE GOOD AT WHAT WE DO? Anyone can say they offer dedicated and personal support but we believe in taking it to the next level. We do this by having a genuine passion for helping people; we aren t just about numbers and figures. From start to finish we will remove headaches, deliver where others can t and guide you every step of the way, starting with this document. BULGARIA RESIDENCY AND CITIZENSHIP BY INVESTMENT PROGRAMME WHAT IS THIS DOCUMENT? This document gives you all the information you need about the Bulgaria Residency and Citizenship by Investment Programme. There s a lot to take in but don t worry, we ve broken it down so you can understand everything you need to help with the processing of your application. WHAT IS THE BULGARIA RESIDENCY AND CITIZENSHIP BY INVESTMENT PROGRAMME? This programme, which seeks to attract foreign individuals, is a two-step process that starts with residency and culminates in citizenship, upon investing a minimum of 511,292 in a government bond portfolio and by fulfilling other requirements. BULGARIA RESIDENCY AND CITIZENSHIP BY INVESTMENT PROGRAMME PAGE 01
EXPANDING YOUR FREEDOM THE DETAILS LOCATION Southeast Europe CAPITAL Sofia TIME DIFFERENCE UTC+2 TOTAL AREA 110,879 KM2 ABOUT BULGARIA Located in the heart of the Balkans, Bulgaria offers a highly diverse landscape: the north is dominated by the vast lowlands of the Danube and the south by the highlands and elevated plains. In the east, the Black Sea coast attracts tourists all year round. Founded in 681, Bulgaria is one of the oldest states in Europe. Its history is marked by its location near Europe s frontier with Asia. Its traditional dishes are a mixture of east and west. The most famous Bulgarian food must be yoghurt, with its reputed gift of longevity for those who consume it regularly. Bulgaria is the ideal gateway into the European economy and way of life. The rich history and culture, coupled with the diverse way of life, makes Bulgaria the perfect place for working and travelling in and around Europe. Population: 6,981,642 Population Growth: -0.81% GDP (Per Capita): 14,500 USD Total GDP: 105.5 billion USD Visa Free Countries: AGE DEMOGRAPHICS 0-14: 14.2% 15-64: 66.9% 65+: 18.9% LANGUAGE Bulgarian: 14.2% Turkish: 66.9% Roma: 18.9% Other: 11.1% RELIGIONS Eastern Orthodox: 59.4% Muslim: 7.8% Other: 29.1% None: 3.7%; GOVERNMENT TYPE Parliamentary Democracy CURRENCY Bulgarian Lev (BGN), tied to EUR EXCHANGE RATE 1 EUR = 1.95583 LEVS 160 BULGARIA RESIDENCY AND CITIZENSHIP BY INVESTMENT PROGRAMME PAGE 02
EXPANDING YOUR FREEDOM THE BULGARIA RESIDENCY AND CITIZENSHIP BY INVESTMENT PROGRAMME QUALIFICATIONS? Investment criteria Offered in accordance with the Foreigners in the Republic of Bulgaria Act, the Investor Program for Residence and Citizenship includes a fast-track citizenship option. To qualify for application, you will need to meet one of the investment option requirements. Application criteria In addition to making a financial investment, applicants must also meet the following requirements: PROGRAMME BENEFITS Access to EU countries leading to right to live, work & study in Europe after becoming a citizen of Bulgaria Processing of residency application in 6-9 months Non-EU citizen; Valid passport or another substitute foreign travel document; Personal net worth greater than 1 million is required by banks for the financed investment option. For the full investment option, the net worth requirement is 511,292; Documents supporting the source and origin of the declared and invested funds; Proof that the applicant has no criminal record; Attest the Power of Attorneys and the Investment Agreement; Payment of application fees; Make the minimum statutory trips to Bulgaria. Fast Track option allowed after 12 months of residency status No physical residency required No language requirements No country knowledge test required Low tax rates & free trade within EU Citizenship by descent program available to children above the age of 18 of naturalized applicants. BULGARIA RESIDENCY AND CITIZENSHIP BY INVESTMENT PROGRAMME PAGE 03
EXPANDING YOUR FREEDOM THE BULGARIA RESIDENCY PROGRAMME WHAT ARE THE REQUIREMENTS FOR THE PROGRAMME? Full Investment Applicants choosing this option must deposit BGN 1 million ( 511,292) in a Governmental Bond Portfolio for an investment period of five years, with no further payment required. At the end of the five-year period, the full amount of BGN 1 million ( 511,292) will be returned to the investor without any accrued interest. The investment is fully guaranteed by the government bonds. Financed Investment For a set pre-paid fee, clients can leverage their capital by choosing the Financed Investment option. These individuals pay a reduced amount of 200,000 that will be used to finance a BGN 1 million ( 511,292) closed 5.5-year loan from a Bulgarian chartered bank. This loan is initiated and repaid at no further cost to the investor. Applicants choosing the Financed Investment option will need to demonstrate minimum net worldwide assets of 1 million, a requirement of the Bulgarian chartered bank. IN ADDITION TO THE ABOVE, THE FOLLOWING CHARGES WILL ALSO APPLY: GOVERNMENT FEE: Main applicant and spouse 25,000 Dependents 2,500 ADDITIONAL NOTES: The processing fees for the Fast Track option are charged in addition to the fees outlined above. The definition of dependant children are those under 18 years of age. FAST TRACK TO CITIZENSHIP OPTION THE FAST TRACK OPTION ALLOWS INVESTORS TO APPLY FOR CITIZENSHIP FASTER (2 YEARS) BY DOUBLING THEIR INVESTMENT. THE REQUIREMENTS FOR THIS OPTION ARE AS FOLLOWS: Have at least one year of permanent residency status; Double the investment in bonds; This additional 511,292 investment can be financed for a fee of 100,000; Hold both investments for a period of at least two years after citizenship has been granted. Citizenship applications for participants in the Fast Track citizenship program are examined on an express basis. CITIZENSHIP REQUIREMENTS IN ACCORDANCE WITH THE BULGARIAN CITIZENSHIP ACT, FOREIGN INVESTORS WHO HOLD A PERMANENT RESIDENT PERMIT FOR AT LEAST FIVE YEARS ARE ELIGIBLE TO APPLY FOR BULGARIAN CITIZENSHIP. THE REQUIREMENTS FOR THOSE WHO OPT FOR THE REGULAR PROGRAM ARE AS FOLLOWS: Must be over 18 years old; Must have maintained permanent resident status for the past five years; Must have never been sentenced by a Bulgarian court for a capital offence or accused in criminal proceedings for such a crime (unless he/she has been rehabilitated). Investors will need to file a citizenship application and pass medical tests in their current country of residence. BULGARIA RESIDENCY AND CITIZENSHIP BY INVESTMENT PROGRAMME PAGE 04
CONTACT US Global Sales Offices UNITED ARAB EMIRATES Saleh Bin Lahij Building, Office 210, Al Garhoud St, PO BOX 36566, Dubai T +971 4 282 7221 F +971 4 286 8730 HONG KONG 20th Floor, Central Tower, 28 Queen s Road, Central, Hong Kong T +852 2 159 9605 F +852 3 007 5129 info@elevay.com WWW.ELEVAY.COM