Bulgaria is seeing upward trend for citizenship applications but lately there have been almost no applications for Bulgarian citizenship by investment, said the Vice president of Bulgarian citizenship commission.
It is unknown how many of those who have obtain citizenship remain in Bulgaria, Iotova told journalists, according to Bulgaria news agency
As of Oct 2018, Bulgaria received 193 applications for Citizenship by investment of which 95 of these were Standard Track and 98 – Fast Track according to the ministry figures.
An average of 18 applications were submitted via Fast Track annually between 2013-2017. In 2018 the annual application rate doubled to 35 on an annualised basis. Applicants from the Middle East and the ex-USSR make 77% of the Fast Track applications, with most applicants being from Russia. Around 64% of all Fast Track applications made have been approved by the Ministry of Justice so far.
Bulgaria requires EUR 1 million investment in government securities or bonds which qualifies for fast track citizenship after some 18 months as a permanent resident.
Recently Bulgaria has tightened new citizenship rules, such as knowledge of bulgarian, interviews and full integration.
- Bulgaria is a EU member country since 1 January 2007.
- Bulgaria has committed to adopt the euro once it fulfils the necessary conditions.
- Bulgaria is currently in the process of joining the Schengen area.
As of 2019, The Bulgarian passport was 19th powerful passport in the world with visa free access to 169 countries in the Henley passport index.
Bulgarian CIP passport is quite interesting, because it is one of the best EU passports to hold because, it has recently received visa waiver with Canada, freedom of movement in EU schengen states and United Kingdom, and also visa free travel to New Zealand and Australia (evisa)
