Americans on a hunt for Bulgarian citizenship
Did you know that there are more Americans willing to get Bulgarian passport than there are Bulgarians applying for green card? True or false? Such statement would have been of course ridiculous 10 or 20 years ago. But the times are changing and getting Bulgarian passport is now a dream come true for many.
Bulgarian citizenship for Brits
Citizens of the UK also realized that their passport is good for two things:
- to reside in the UK and;
- to travel visa-free (to many countries).
Unfortunately, UK passport is no good for residing in Europe anymore. And there are many, actually a lot of, Brits who need to have this option. At the same time, after Brexit, they are treated the same as Indians and Pakistani, for as far as living rights in the EU is concerned.
Bulgarian citizenship by investment – the best option for Americans & Brits
UK citizens – still struggling to come into terms that UK is not part of the EU anymore
Many UK citizens still tend to think that obtaining second EU citizenship is sort of their birth right. And most of all, the process should be either free or at least, very cheap for them. They think so, because they enjoyed all EU freedoms until very recently, prior to Brexit. But now they have no more rights in Bulgaria and the EU than, say a South African or a Hong Konger. And getting Bulgarian passport is far from free too.
US citizens – understanding the advantages of the Bulgarian passport and EU citizenship
Americans on the other hand realize very well that getting access to the EU with all the liberties it comes with, is something of great value. And they realize that this comes at a price, both financial and in terms of personal engagement during the procedure. US citizens have never been spoiled by EU membership, as Brits were. And they know that the EU passport can change their life significantly.
Currently, December 2021, Americans are utilizing actively the option to obtain Bulgarian citizenship by investment. But Brits are also starting to realize the benefits of the EU passport’s freedoms. In 2020, the ratio between US and UK citizens, interested in Bulgarian citizenship was 17 to 1 in favor of the Americans. Now, at the end of 2021, the ratio has come down to 4,5 to 1. Remarkable progress, isn’t it.
Why Bulgarian investment citizenship is feasible, even if you are not a billionaire
Bulgarian citizenship by investment could be obtained almost for free in 2018 and earlier. Now of course, it has become much more expensive. The procedures are also loaded with more bureaucratic work. The end of the Cypriot program at the end of 2020 has also contributed to the cost rise of the Bulgarian program. Logically, many wealthy investors shifted from Cyprus to Bulgaria. This resulted in more demand for Bulgarian investment citizenship, which means, you guessed it right, higher prices.
But even with all of the above, Bulgarian investment citizenship is an unique opportunity. As per the program, you can become EU citizen in as short as in 12 months (theoretically). In practice, the process takes longer, but it still very, very short. Best of all, the investment options that qualify for the program are:
- extremely liquid (can be monitored online) and;
- the investment remains always on the account of the applicant (never needs to be transferred to any third party, not even to the government).
The required investment starts at only 256 000 EUR. The most frequent option that the investor opt for are the Exchange Traded Funds (ETFs). Under this option, the required investment is 512 000 EUR in order to obtain permanent residency. By doubling the investment, the applicant becomes eligible for EU citizenship as soon as in 12 months. No language or history exams are required. The family members, even grown up children, also become eligible for citizenship.
Defying the inflation
People have always dreamed of defying the gravity. But in 2021, defying inflation is much more important for everyone. The FED and the ECB are printing money at unprecedented rates. Prices rise and money loses value. People started to realize that investing in a quality second citizenship is the smartest move they can make at the moment. Our clients who have started their procedures in 2017-2019 realize that best of all. Those who haven’t still made the move, have probably their last chance to become EU citizens. Because, we think, EU investment citizenship will soon become too difficult and expensive. And at the end, extinct.
Please contact our offices for any questions about obtaining Bulgarian citizenship.