Bulgarian Citizenship For Hefty Investments Will Be Available To Foreigners
/In the second reading, the National Assembly adopted amendments to the law on Bulgarian citizenship. Now foreigners will have the opportunity to get it if they invest at least 2 million leva (about US$1.24 million) on the stock exchange.
Individuals will be able to apply for Bulgarian citizenship if they invest in:
Shares of Bulgarian commercial companies
Bonds
Treasury bills
Rights under concession agreements
Licensed credit institution in Bulgaria for a period of at least five years.
“The proposal is related to investment citizenship only, i.e. those who earlier maintained the investment for a period of 5 years without withdrawing it and, as they have the right to apply, have obtained permanent residence, have the right to apply for citizenship” explained Yordan Tsonev from the Movement for Rights and Freedoms.
An important condition is that a permanent or long-term residence permit was obtained at least 5 years ago. The applicants must not be under investigation or convicted by a Bulgarian court and must have the income to support themselves. Investments made must be maintained for at least five years. After obtaining a Bulgarian passport, family members are also eligible to apply for citizenship.
Source: novinite
