We are very happy to announce that the voted amendments in the Investment Promotion Act and resulting changes in the Foreigners in the Republic of Bulgaria Act and the Bulgarian Citizenship Act are now published in the State Gazette and came in force on February 23rd, 2013.
With the amendments, the Investor Program for Residence and Citizenship in Bulgaria has become very competitive with other European and international programs.
Please find below a more detailed description of the voted changes:
Language Competence Requirement The language competence requirement for applicants who invest in government bonds is WAIVED.
Relinquishment of the current nationality The relinquishment of the current nationality requirement for applicants who invest in government bonds is WAIVED.
New Fast Track Option A new fast track option that leads to Citizenship is introduced for applicants who invest in government bonds.
The requirements for the Fast Track Option are:
for the applicant to have at least 1 year of Permanent Resident status;
to double the investment by putting €512,000 in government bonds or in the capital of a Bulgarian company which is carrying out a Priority Investment Project (as defined in the Investment Promotion Act); and
hold second additional investment for a period of two years.
Furthermore, new investment options were introduced:
1) Entrepreneurial Options: Risk capital with job creation
Leading to prolonged residence. The minimum amount of €125,000 must be invested in risk capital. The foreign person must invest at least 50% of the capital in a Bulgarian company operating in one of the underdeveloped regions and must create minimum 5 jobs for Bulgarian citizens. The residence must be renewed every year.
Leading to permanent residence. The minimum amount of €250,000 must be invested in risk capital. The foreign person must invest at least 50% of the capital in a Bulgarian company and create minimum 10 jobs for Bulgarian citizens. There is physical exemption. There is no requirement for language competence and relinquishment of the current nationality for the citizenship application in 5 years.
2) Real Estate Option
It leads only to prolonged residence and requires minimum investment of €300,000. The residence must be renewed every year.
These new options will enable us to enrich the portfolio of additional products and services provided to our partners and their clients.
If you are an Immigration consultant, this site will offer you all the guidelines and procedures for the Bulgarian Immigrant Investor Program. If you have potential clients who might be interested in this program, you should contact us to become an Arton Capital Certified Partner and benefit from the advantages this program offers.
If you are a business owner or entrepreneur, who wish to obtain Bulgarian residency, here you will find all the information you need to see your potential as an Immigrant Investor for Bulgaria. Use the Assessment Form to give us some information, which will help us evaluate you as a candidate.
Arton Capital and our team of financial and legal professionals are available to assist in obtaining a Bulgarian residence through the Bulgarian Immigrant Investor Program (BGIIP) for non-European citizens. Our experience with business immigration programs and the local governmental bureaucracy will secure your investment and smooth the progress of the application process for residence. We review with you, your interests and opportunities in Bulgaria and tailor our resources to best fit your needs and requirements.
There are several key advantages to becoming a Bulgarian resident, and hence part of the European Union:
EU membership and NATO membership
Macroeconomic and financial stability
EU’s most favourable taxes:
Flat 10% corporate income tax
Flat 10% persoanal income tax
0% in high-unemployment areas
Europe’s lowest operational costs
Well-educated and highly-skilled labour force
22% of population holds university degree
Government support for priority investment projects
Linking Europe and Asia
Bulgaria looks to open its doors to you so that you can improve your quality of life and freedom of international mobility while enjoying the extensive benefits the country has to offer.
We are ready to help you settle permanently in Bulgaria and enjoy all the advantages of being a resident of an EU member. Getting Bulgarian residence through business immigration will provide you with all the rights of a Bulgarian citizen except the right to vote. You will also be able to enter and leave the country as many times as you wish without visas and travel and work in all Europe visa free.
The European Parliament has approved with an overwhelming majority an EU Council decision that both Bulgaria and Romania comply with data security requirements for joining the "Schengen Information System" (SIS).
A report by Carlos Coelho (EPP, PT) approving the Council decision, which is the first step towards lifting the border checks, was given the green light with 525 votes in favour, 18 against and 54 abstentions.
A working group asked to verify whether Bulgaria's and Romania's branches of the SIS system ensure satisfactory levels of data protection has reached an overall positive conclusion, thus paving the way for further tests before the end of the year.
The decision aims to pen in a deadline for implementing the regulations regarding the Schengen Information System, which will allow the two countries to provide and extract data from the system under certain limitations.
Currently, Bulgarian citizens are allowed visa-free entry into the Schengen system and there is eased access to Bulgaria for Schengen visa holders, but the country is not a full member of the system.
InvestBulgaria Agency releases the 2010 edition of the Investor's Handbook.
Sofia, Bulgaria, Wednesday, 2 June, 2010 - InvestBulgaria Agency (IBA), a Bulgarian government investment promotion agency under the Ministry of Economy, Energy and Tourism, has recently published the 2010 edition of their Brief Investor's Handbook. The Brief Investor's Handbook 2010 is a short, informative guide on the business climate, investment opportunities and details for the Investor Program for Residence and Citizenship in Bulgaria. The printed english version of this guide is available at all Bulgarian Embassies and Consulates around the world.
Download a digital copy of the Brief Investor's Handbook from here or here.
InvestBulgaria Agency's mission is to help existing and potential investors find the right opportunities in Bulgaria. Their team of 30 professionals works at the highest standards for project management, business confidence and integrity. The Agency has access directly to all Bulgarian government institutions to facilitate the entry and development of businesses in the country. For more information on the agency, visit www.investbg.government.bg.
Standard & Poor's Ratings Services said on Tuesday it had revised its outlook on the Republic of Bulgaria to stable from negative. The 'BBB' long-term and 'A-3' short-term sovereign credit ratings were affirmed.
"The stable outlook reflects our view of the government's commitment to fiscal discipline. We believe this is likely to be demonstrated by the full implementation of the budgetary plan and supplementary deficit-reducing measures, should the current downturn lead to stronger budgetary pressure than what is currently foreseen," Standard & Poor's credit analyst Marko Mrsnik said.