Bulgarian CIP – “The lone warrior”
There is currently only one working Golden Passport Program in the EU. Most were suspended due to major corruption scandals (Reference: Cyprus, Malta, etc.). Thus, only the Bulgarian Citizenship by Investments Program remained. And yet you probably haven’t heard of this program. Why? Why you haven’t heard of the Bulgarian CIP? The answer, of course, is connected with (big) money.
Ultra-expensive advertising campaigns for the “golden visa” programs sponsored by countries such as Cyprus and Portugal are currently underway. It is very aggressive and misleads customers that a “golden visa” is the same as a “golden passport”. Which, of course, is far from the truth. The “golden visa” programs offer residence for a certain period by real estate investments in the respective country. A “golden visa” CANNOT grant you EU citizenship. Not even visa-free travel (except at the regional level). Nor can it guarantee the security of your investment. But because of the “fatty commissions” that agents receive for selling property in Portugal or Cyprus (for example), they refuse to deal with the Bulgarian Citizenship by Investment Program. Bulgaria managed to protect its CIP from the major corruption schemes in which the relevant programs in Cyprus, Malta and others got involved. This is the only reason their program still exists. Do not have illusions – the EU has never been kind to the Bulgarians.
Why is the Bulgarian CIP inconvenient for agents selling citizenship and residence in Europe?
- Bulgarians do not pay the heavy commissions to the agents! Fat commissions that they receive from the “Golden visa” programs (residence permit by real estate investment) of Portugal, Cyprus and others.
- Bulgarians managed to protect their Citizenship by Investment program from serious corruption scandals. Moreover, after the amendments to the Citizenship Act of March 2021, their program has become better than ever. The country’s parliament has adopted clear and transparent rules. The program offers a wide range of investment opportunities and guarantees at national and European level for investment. In return, you receive Bulgarian and EU citizenship immediately (The “Golden visa” can NOT provide citizenship – unless you have 5 years to wait for). The tight rules of the Bulgarian CIP have completely limited the possibilities for transactions “under the table” and receiving huge commissions, bribes, etc.
- If you have a real winner, you don’t need substitutes! Or maybe we are mistaken? What do you need “golden visa” programs for if you can get a “golden passport” for the same price? I.e. if you are an agent and start offering the far better in every way Bulgarian Citizenship by Investment Program, which guarantees an EU “golden passport”, then why do you need a limited “golden visa”? The answer is clear, isn’t it? Then the fat commissions will go away! However, customers have a choice. Still.
Here you can read about the main differences between the golden passport and golden visa programs in the EU.