Bulgarian Residency and Citizenship by Investment 2020

1. Bulgarian Residency and Citizenship by Investment2020 Why getting a Bulgarian Passport could be a smartmove? Ease of low cost of living in Bulgaria is grabbing the eyes of numerous potential expats. Investment is perhaps the simplest approaches to procure residency abroad in Bulgaria. Many disregard the favourable circumstances that Bulgaria can offer those seeking to make a successful foreign investment. The low labour prices and taxes are two of the country’s core fundamental causes to invest. Moreover, the country is also strategically situated towards the rest of the EU, of which it is a member and other durablemarkets. The Bulgarian government has exhibited its dedication in improvising its economy and has executed in a commendable manner. A majority deal of the achievement is on account of its joining the EU in 2007. Somewhere in the past between 1996 and 2008, the country witnessed a 6% GDP growth and stimulation. The government fulfilled a 10% flat tax rate and diminished corporate tax for investors employing resources towards less industrialized regions or regions with high unemployment. This is the prime reason for getting a Bulgarian passport and investing in Bulgaria as well as a visa for Bulgaria. Bulgaria’s economy fundamentally depends on exports possessing the potential for development. Numerous investors rank Bulgaria as a destination for low-cost production. Labourers are profoundly skilled and are available at affordablecosts.

2. Infrastructure is improving at a rapid pace, gradually making the country increasingly advanced. This is opening the gateways to numerous investment openings, for example, healthcare, education, tourism, and much more as well as procuring investorVisa. The aforesaid leverages are obtained while investing in Bulgaria: Location: Bulgaria’s geographic location provides accessibility between the EU and flourishing markets in Russia, Turkey, and the Middle East. The government desires to focus on modernizing the infrastructure to decrease the transit time for the transportation of cargo. Bulgaria is a passage gateway for five pan-European corridors, attracting new investors visa extending their ventures: Transport Corridor IV, Transport Corridor VII, Transport Corridor VIII, Transport Corridor IX, and Transport Corridor X – with all thecorridors crossing Bulgaria’s second-biggest city, Plovdiv. TRACEKA connects Bulgaria with Central Asia through portVarna. Residency byInvestment One of the most commonly recognized reasons behind investing overseas in Bulgaria is the residency that can be gained by investment route. Investment abroad is the easiest and simple approach to obtain residency, and there are even the means to acquire citizenship rapidly by multiplying yourventure. FullInvestment: One investment type is a full-fledged investment. This makes it mandatory for the applicants to deposit BGN 1 million ($609,236) in a Government Bond Portfolio for an investment period of five years. There is no further payment required. Consequently, after five years, the entire investment goes back to theinvestor. FinancedInvestment: This alternative enables you to finance the required investment amount through a European bank. The investor contributes a reduced price of BGN 380,970 ($231,786), used to finance a BGN 1 million loan. The investment is not returned towards the end of the five years in this venturechannel. Citizenship As proposed in the Bulgarian Citizenship Act, foreigners who hold permanent residence of five years are qualified to apply for citizenship. At the same time after acquiring Bulgarian citizenship, you will have limitless rights to live, work, and study inEurope. You will also gain the option to the right of possessing the land in any European Union country. If you wish to accelerate the citizenship procedure, you have the choice to double your investment. This alternative permits you citizenship after one year of permanent residency. To qualify, you must double your investment by acquiring approximately BGN 1 million in government bonds or in the capital of a Bulgarian establishment that is engaged with a Priority Investment Project and qualifies for a second additional investment for twoyears.

3. Investment Collaterals • Agriculture: Many experts hold the conviction that agriculture is the most blazing sector in Bulgaria today. The sector is promptly revamping itself after a decline in the early 1990s. After gaining entry in the EU in 2007, numerous opportunities emerged for major exports into the EU market. The land is not very expensive and is appropriate for many utilities. • Real Estate: Bulgaria is getting progressively renowned among those seeking to invest in real estate abroad, as an option in contrast to conventional European countries. Compared to Western Europe, property prices are reasonable and affordable. • Tourism: This sector is rapidly developing, increasing the scope of opportunities for foreign investment with a high return on investment nations. With access to skiing and the Black Sea, there are already natural features alluring visitors across the globe. Infrastructure is quickly improving, natural landscape beauty is in abundance, and the expense islow. • Recycling and Waste Management: At the present moment, Bulgaria lacks advanced facilities for waste management and recycling. Sofia, the capital, is seeking to establish a waste management site in subsequent years. The majority of the nation’s cities and towns employ obsolete techniques to manage their waste, making the waste management sector one of Bulgaria’s most committed investment opportunities. • Healthcare: Most Bulgarian healthcare is dominated by the government, which has caused numerous issues. Opportunities to invest in healthcare services are immense as well as extensive with practically minimum or negligible competition. It is a similar scenario with the country’s educationaldomain. • Other unexplored sectors comprise of Construction, Business Outsourcing, Energy, Software Development, Textile and Fashion, Education as well asInfrastructure. • At Smart Move Immigration our Immigration & Business experts provide advice and assistance on a range of business services to enable you to set up a business in Bulgaria. We also advise businesses to expand to the UK, USA, Canada and other parts of Europe. From advice on visa options to company structure and carrying out feasibility studies to helping with contracts and recruitment to potential business purchases – we offer one-stop solution services to companies and individuals. Call us on +91 98191 27002 or email us at info@smi.legal to know more about setting up a business in Bulgaria.