Yes, you read it correctly. We are now giving away free real estate properties to the residents of Hong Kong who apply for Bulgarian citizenship by investment. How is this possible and what are the conditions? Please read on.
The importance of suitable residential address in Bulgaria for the purposes of the CBI application
We have been always stressing on the importance of eligible residential address for the application for Bulgarian citizenship by investment. We are constantly warning about using questionable address facilities and the associated risks with such arrangements.
Renting vs owning real estate
By Bulgarian law it makes no difference what address you will be using for your citizenship application. You may rent or buy – both are acceptable.
The political situation and the European engagements of the Bulgarian government are however another very important factor to reckon with. The European Commission is constantly criticising all three countries that provide Citizenship by Investment Programs – Bulgaria, Cyprus and Malta. The main concern of the European Commission is that the member-states should not sell citizenship. Malta and Cyprus have since taken serious measures to avoid such accusations. Bulgaria so far hasn’t done anything on legislative level.
The Bulgarian authorities however prefer now to predominantly welcome investment citizens who can demonstrate certain bond with the country. Only such citizenship applications are to the taste of the EU Commission and hence to the liking of the Bulgarian government. And applicants who are not to the liking of the government are set to face difficulties, something we try avoiding at all cost for all our clients.
The advantages of owning real estate in Bulgaria
Investment citizenship applicants who own real estate in the country have huge advantage in comparison to those who rent. In Bulgaria, unlike in many other countries, most people own real estate and only few rent. The general expectation from the investment citizens is to own their own properties. Renting is seen as reluctance to establish bond or link with the country and a sort of attempt to “buy” citizenship.
Renting instead of investing in real estate is a strong signal that the citizenship applicant doesn’t want to establish bond with the country.
The chances for swift approval of the applicant’s citizenship application are much higher when he has established certain bond with the country. That is why we believe that from now on it is absolutely essential that all applicants are able to demonstrate certain link with Bulgaria. Owning real estate is without any doubt the most convincing and straightforward way of proving that Bulgaria is not just an entry door to the other EU countries.
The investment potential of the real estate market in Bulgaria
Citizenship by investment aside, the Bulgarian real estate market is one of the fastest rising real estate markets in the EU. Prices of properties in Bulgaria have outperformed virtually all other EU properties.
Free real estate in Bulgaria for our Hong Kong clients
Taking in account the complicated situation in Hong Kong, we are now offering free real estate property to a range of our HK clients at no cost. No more rental contracts to sign, no more hassle. Our clients will be proud owners of Bulgarian residential property so the immigration authorities can be convinced that the applicant has established serious bond with Bulgaria. And the real estate property that comes with our packages is free for residents of HK.
To qualify for free real estate, the applicant must have received an invitation or promotional offer from us and must also be in possession of either:
- HKSAR passport, or
- BN(O) passport.
To claim your free real estate in Bulgaria that comes with your CBI applications, please contact us at your earliest convenience.
BNO passport is no longer recognized as an official identity document of a Hongkonger.
Yes, its not recognized by the Chinese government any more. But how is it “recognized” by the issuing authority – the UK? Like first or second class “citizens”? This is the more important question.
I for myself would be ashamed to be an “overseas” citizen… of any country…
Luckily, under the new Bulgarian CIP of 2021, the “new Bulgarians” will be treated equally as all locals.