The unique Citizenship for Investment program allows wealthy individuals to obtain a residence permit and citizenship in exchange for investing in Bulgaria’s fast-growing economy. Currently, Bulgaria is an attractive region for investment in various sectors of the economy. However, it was the unique Investor Program for Residence and Citizenship®, launched in 2009, that provided hundreds of wealthy citizens of the Middle East and Russia with the opportunity to apply for citizenship in exchange for investing in government bonds.
“Wealthy foreign investors from the region of the Middle East and North Africa, Asia, Russia and the CIS countries are attracted by the conditions of the Bulgarian program, which do not require physical stay in the country to obtain citizenship. Not all countries in the world show such flexibility with respect to investors and their families, while guaranteeing the security of investments in government bonds, the right of permanent residence and future European citizenship with the lowest tax rates, "says Milen Keremedchiev, former deputy The Minister of Economy and Foreign Affairs of Bulgaria and Vice President of Arton Capital, a global consulting company with offices in Montreal, Sofia and Dubai.
As a full member of the NATO and European Union bloc, Bulgaria is preparing to join the Schengen zone in the coming months, which guarantees all its citizens the right to visa-free entry to European countries.
Despite the fact that there are many immigration investment schemes in the world, the conditions of the Bulgarian program are unique. A bona fide investor who complies with applicable law and invests € 511,292 in government bonds of the country for five years is granted a residence permit, and subsequently citizenship, without requiring permanent residence in the country and without having to pay taxes on his personal fortune, inheritance or income, received outside the country.
The changes made in the legislation of the country by its parliament, based on the recommendations of Arton Capital to the Ministry of Economy, Energy and Tourism in February this year, further increased the popularity of the program: now investors do not have to pass an examination for knowledge of the Bulgarian language or renounce their citizenship. In addition, now investors can apply for a passport in a year, and not in five years, as it was before, in the event that they double the initial investment in the country
Starting in 2007, a Bulgarian passport gives the right to work, study and live in most European countries. Children of investors who are citizens of a European country can apply for benefits when paying for education at European universities. In addition, the Bulgarian government has made it one of the top priorities to attract wealthy investors, for which it has introduced the lowest internal income tax rate in the EU - only 10% for both individuals and legal entities.
Passive and safe investment
Bulgaria is the only country in the Eurozone in which, since 2011, the rating of government bonds, presented by the reputable international agency Moody's, has risen from Baa3 to Baa2, reflecting their high fiscal discipline and growing institutional strength. This also confirms the stability of the Bulgarian financial system during a period of high volatility in the rest of Europe. Given the forecast for stable development, the investment program, which requires passive investments in reliable government bonds in the amount of € 511,292, suggests the possibility of financial options. The scheme involves making a financial payment of € 180,000, which can be provided by foreign companies such as Arton Capital, which will allow investors to invest the rest of their money in higher-yielding projects in Bulgaria.
Opportunities for doing business and buying real estate
Many Middle Eastern businessmen are considering the possibility of increasing investment activity in the country. “Bulgaria offers highly qualified workforce at competitive prices, an excellent strategic location - at the crossroads of Europe and Asia - and an attractive tax policy. Therefore, it is not surprising that investors are looking for opportunities to expand their presence,” explained Vladimir Kolev, partner at EU Capital Partners , a subsidiary of Arton Capital, which offers investors a wide range of opportunities for investing in the economy of the Balkan countries and, above all, Bulgaria.
Recent changes in the legislation of Bulgaria have also opened the door for foreign investors wishing to purchase real estate in the country in the amount of € 300,000, which will give them the possibility of long-term residence in the territory of the state with the subsequent receipt of a residence permit (after 5 years).
The Arton Capital Holdings office in Dubai assists a large number of immigration professionals, bankers and lawyers in processing investor applications in Bulgaria, Canada, the UK, the Federation of Saint Kitts and Nevis and the Commonwealth of Dominica, USA, as well as advising on investment in these countries.
More information about immigration investment programs can be obtained on the official Arton Capital website at: www.artoncapital.com
