Residency & Citizenship

BulgariaEUROFAST GLOBAL

Petar Varbanov, LL.M., Attorney at LawLegal & Tax Manager

AGENDA

BULGARIA

1. Residency permits:

Types of residency; Continues residency in Bulgaria;Long-term residency in Bulgaria;Permanent residence in Bulgaria.

2. Bulgarian Citizenship:

Definition;Benefits;Investment scenarios.

Eurofast in Bulgaria

Types of residency in Bulgaria

Continues - A Continuous stay in Bulgaria is considered to be one-year (D-type visas).

Long-term - initial granted period of 5 years

Applications for visas can be submitted to Bulgaria's consular representations abroad. Applications for residence can only be submitted in Bulgaria.

Permanent - indefinite period;

Residency in Bulgaria

Continues residency

1. Willing to work under a labor agreement; 2. Carry out commercial activity; 3. Foreign specialists staying in the country under international treaties; 4. Representatives of foreign companies registered in the Bulgarian Chamber

of Commerce; 5. Parents; 6. Long-term treatment in a hospital; 7. Freelance work ; 8. Nonprofit activity; 9. Special protection; 10. Have invested an amount not less than 600 000 BGN; 11. Committed investment in economically disadvantaged areas within the

meaning of the Act on Investment Promotion;

Long – Term residence in Bulgaria

Long-term status is granted to an aliens who has:

Resided legally and without interruption in the territory of the Republic of Bulgaria within five years prior the application for authorization of long-term residence.

Permanent residence in Bulgaria

1. Has invested more than 1 000 000 BGN

3. 6 million BGN investment in BG co;

5. Bulgarian intellectual property

7. Granted permission for long stay

Permanent residence

2. Ownership rights over an isolated part of the property of a Bulgarian commercial company with more than 50 percent state or municipal participation in the capital

4. Shares or stocks owned by the state or municipalities

6. Rights under concession

8. Entering into capital of a Bulgarian company of not less than 500 000 BGN

Bulgarian Citizenship

permission for permanent residence

Has not been sentenced by a Bulgarian court

Individual over 18

Has an income

Has a command of the Bulgarian language

Welcome to Bulgaria

Investment scenarios

Invested more than 1 000 000 BGN

To invest in licensed credit institution in Bulgaria

Rights under concession contracts;

Bulgarian intellectual property

BASIC SCENARIOfive years

Ownership rights over an isolated part of the property of a Bulgarian commercial company

Shares or stocks owned by the state or municipalities in a Bulgarian commercial company

Investment Scenarios

Have at least one year of permanent residency status

Double the investment by putting additional amount of

€512,000, BGN 1 million under the same conditions

Applicants choosing this option must deposit BGN 1 million (€511,292)

FAST-TRACK

Hold second additional investment for a period of two years

Benefits of the Bulgarian citizenship

•Fast process to residency (six to nine months);•Fast-track option allowing for citizenship within two years;•Special exemption from physical residence enforced with legislation;•Government-approved investment and available financing options from foreign banks;•No language requirements; •No obligation to relinquish current nationality;•Lowest tax rates and free trade environment within the EU – 10 % CIT, 10 % PIT;•Unrestricted right to live, work and study in Europe;•Right to own land in all EU countries;•Free movement within the Schengen zone, after Bulgaria becomes a member state;•Access to high quality healthcare in Bulgaria and the EU;•Conditional tax exemption on world income.

A few words about Eurofast

Eurofast is a regional business advisory organisation employing over 200 people in South East Europe & East Mediterranean. Our team of professionals is capable of

efficiently addressing all client needs in one single meeting, using one single language for

all the countries in the Region.

•International Tax•Mergers & Acquisitions and Transactional Advisory•Transfer pricing•Accounting services•Financial services•Outsourced Payroll and Employment solutions•Corporate services•Citizenship & Residency services•HR administration

Our Services

•Banking and Financial services•Business Restructuring & Insolvency•IT specialized services•Tax Planning & Tax Compliance•Real Estate tax•Shipping Tax•Energy Tax•Intellectual property•Market entry services

Single point of Contact, Many Points of View

▪ Lefkosia▪ Athens▪ Thessaloniki▪ Sofia▪ Bucharest▪ Belgrade▪ Tirana▪ Skopje▪ Pristina▪ Banja Luka/

Sarajevo

▪ Zagreb▪ Cairo/

Alexandria▪ Podgorica▪ Kiev▪ Moscow▪ Tbilisi▪ Beirut▪ Erbil

Over

200people across South East Europe and East

Mediterranean

21Offices in SEE and

East Mediterranean

5-35Team members in

every office

1Reference point;

1 meeting handles all!

Eurofast in numbers…

Find us online

www.eurofast.eu

Q & A

Thank you for your attention!