December 2021 – update

All EU passports are providing virtually identical visa-free travel rights worldwide. And of course – absolutely identical rights within the EU. But why are there more and more wealthy international businessmen, who prefer the Bulgarian passport to any other EU passport? Let’s find out what the 5 more important reasons are.

The Bulgarian passport – from loser to winner

Prior to 2007, when Bulgaria was not a member of the EU, the Bulgarian passport was not known to many. It was good for visa-free travel to some European countries, but that was it. Its power was limited.

After 2007, the Bulgarian citizenship’s popularity picked up really fast. But the first few years after Bulgaria joined the EU, its passport was still seen as less desired than the passports of the older EU member states, such as France, Germany or Spain. This however was set to change, really soon.

So what happened soon after Bulgaria joined the EU in 2007? And why is it now so that the Bulgarian passport is more desired than even the passports of the most respected EU countries – Germany, France and Spain?

1. Bulgaria has investment citizenship program (Golden Passport)

Probably the #1 reason for the popularity of the Bulgarian passport is that Bulgaria has real citizenship by investment program. And yes, this means a lot. It is only Bulgaria and (partially) Malta that have real Golden Passport programs in the EU. And these programs make the passports of the two countries – feasible to get hold of. Although not an easy thing to do, but with sufficient investment, one can become Bulgarian citizen in about 18 months. Try that in Germany or in France.

2. The new Bulgarian citizens – wealthy businessmen and established investors

And with the CBI program up and running during the last years, the citizenship of Bulgaria became really popular among many wealthy overseas investors.

At the same time, the old EU countries (ie France) give passports mainly to low skilled immigrants from Asia and Africa. And this becomes a prestige issue to many of those who seek second passport.

3. Bulgaria is politically neutral, to great extend

Bulgaria, has very few enemies, if any. Bulgarian citizens, travelling abroad, have no reason to be afraid that they will be targeted. Countries like France or the UK have long history of colonial past and military conflicts. Their citizens may be welcomed in some part of the world, but in other, they are often being identified as potential targets of hostility.

4. Very few foreigners hold Bulgarian passports (yet)

Bulgaria is known as very conservative country in terms of accepting new citizens on a large scale. In contrast, countries like France or Germany have welcomed millions of immigrants already. So, many believe that holding a passport of a country who grants citizenship more difficult in general, is much more beneficial and prestigious.

5. Bulgaria has very low taxes

We will end up with probably the most important reason behind the popularity of the Bulgarian citizenship. Yes, Bulgaria has the lowest EU tax rates. And that matters. Especially to those with substantial resources, who usually obtain citizenship by investment. To them is looks ridiculous to hold passport of an old EU member state that taxes its residents with 40-50% tax. Of course, taxation is not immediately citizenship related, but having the opportunity to pay 10% instead of 50% is a nice add-on of the Bulgarian citizenship.

How to get Bulgarian citizenship?

Getting Bulgarian citizenship fast, becomes harder and harder. But it is still feasible to obtain citizenship in about 18 months from start to end. If you want to make use of this last opportunity in the EU – act now and contact us for professional and immediate assistance. And if you think that it is already too expensive to get EU investment citizenship, think again. Getting second EU passport is believed by many to be the best investment in the realms of skyrocketing inflation and uncontrolled quantitative easing initiatives.

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