EU Golden Passport = Bulgarian Citizenship by Investments Program 2021
Following the amendments to the Citizenship Act accepted by the Parliament, the Bulgarian citizenship by investment program (CIP) has already been upgraded. What’s more: the Program is better than ever! In addition, the Bulgarian CIP, after the suspension of the Cyprus Program, is now the only working option in the EU to get hold of Golden Passport. The only opportunity for non-EU investors to obtain full EU citizenship. And you have to differentiate between Citizenship by investment (AKA Golden Passport) and temporary residence arrangement (AKA Golden Visa)! With the Bulgarian program you get the first. At the moment, some countries whose CIP have been suspended are trying to equate the two concepts, but this cannot happen because it is simply not true.
How did this favorable development come about for all those wishing to obtain EU fast-track citizenship by investments?
More than a year ago, at the insistence of the EU due to numerous violations, mostly related to the Cyprus and Maltese programs, the government in Bulgaria initiated changes in the Law on Citizenship of the country. The pressure from the EU for modifications in the Bulgarian CIP was serious. The Cyprus and Maltese programs have been suspended. The same fate was expected to befall the Bulgarian citizenship by investment program. Yes, it functioned without drastic distortions such as those of competing programs from Cyprus and Malta. But the stigma has already been put on all such programs in the EU. Therefore, the hope was that if the Bulgarian program survived at all, it would be seriously crippled.
The reality turned out to be different. The Bulgarian parliament and government have taken a nationally responsible decision in a situation of serious economic crisis, a consequence of the pandemic that is suffocating the world. The Bulgarian CIP did not just survive – it was renovated in the best possible way. Almost unanimously, the deputies in the Bulgarian Parliament have finally kept all previous options under which third-country nationals outside the EU can buy the so-called gold passport by investment. And in some ways they even expanded that possibility.
What privileges does the Bulgarian (EU) Golden Passport give you?
The influx of citizens from Russia, China, Hong Kong, USA, and other countries to obtain a Bulgarian gold passport is ALREADY huge. In addition to the improvements under the Program itself, the procedure for obtaining Bulgarian citizenship by investment has also been accelerated. You can now get your golden EU passport up to 18 months! And here is what this privilege will bring you:
- Transparent procedure. Clear, safe and preferential conditions.
- You get FULL EU Citizenship = Golden Passport (not temporary residence or Golden Visa)
- Unrestricted & Visa-free travel
- Wide range of investment options
- Lowest taxes in EU