Our representative office in Hong Kong – the legal small print
The process of obtaining Bulgarian Citizenship by Investment is comprehensive procedure that requires investment in Bulgarian equities, listed on the Bulgarian stock exchange or in Bulgarian state bonds (ie Eurobonds).
In its core, becoming Bulgarian citizen is a process that is covered by the Bulgarian “Law for the foreigners” and the “Law on the Bulgarian Citizenship”. The particular requirement to invest (purchase) financial products however, qualifies it as investment procedure as well.
The Hong Kong “Securities and futures Commission“ (SFC)
The SFC in Hong Kong is the regulating body and it requires that:
Any person carrying on regulated activities in the securities and futures markets and the non-bank retail leveraged foreign exchange market in Hong Kong has to be licensed or registered with the SFC, unless a specific exemption is applicable.
The legal regulations in Hong Kong also imply that:
It is a serious offence to carry out regulated activity in Hong Kong or actively market to the investing public of Hong Kong any services which constitute a regulated activity without the required licence or registration.
Please be advised that “Citizenship and Investments” LTD is not licensed with the Hong Kong SFC and can therefore not carry out activities in the securities market on the territory of Hong Kong. All initial negotiations, including the marketing and promotion of the Bulgarian state bonds and/or financial equities, are done as follows:
- in Bulgaria;
- in other EU country, including Switzerland, subject to approval by the regulating authorities;
- in other country (including Hong Kong) through licensed banking institution, holding the appropriate license fro the relevant authority (SFC for HK).
The banks in HK, that are able to negotiate and execute the purchase of Bulgarian equity/bonds
So which customers are served in our HK representative office?
Our HK rep office is ultimately reserved for clients from HK and Mainland China who have already went through the procedure of the purchase of their investment for the Bulgarian CIP. On case by case basis, it may be also utilized by customers from other SE Asian countries, who have also gone through the procedure already.
In addition, our HK office services our SE Asian agents and representatives, as well as our Gold and Platinum clients – irrelevant from their current residence (not limited to HK, China and SE Asia).
Before your citizenship application is started and investment effected
If you are holding passport of a country that requires entry visa for the EU, we will be glad to support your visa application. Please contact us at your earliest convenience for details.