Obtaining Bulgarian citizenship, what are the advantages?
03.01.2023
Why do many businessmen, investors and people who want to improve their quality of life think about obtaining Bulgarian citizenship, what is attractive about it, and is it necessary to purchase real estate? We will examine it now.
Citizens of Bulgaria are citizens of the European Union and enjoy the right of free movement and have the right to vote in elections to the European Parliament.
The Bulgarian passport allows free passage between 168 countries including the European Union, Canada and Australia, which considerably speeds up and facilitates the organization of personal or business trips.
The ability to work in any country in the European Union, to live indefinitely, as well as to study at prestigious universities under favorable conditions are additional advantages of Bulgarian citizenship. The University of Vienna, the Ludwig University of Munich, the University of Paris and many others are open to EU citizens, and the wide range of choices will bring potential students closer to their desired profession through a high-level education.
The favorable tax rates that exist between EU countries will allow you to manage your money efficiently, while keeping an open door to the EU market.
Is it possible to get Bulgarian citizenship by buying the real estate?
So we understood what are the advantages of Bulgarian citizenship, now we will turn directly to the question of whether there is a reason to receive it when buying real estate in Bulgaria.
Buying real estate in Bulgaria allows you to obtain dual citizenship, does not require you to live in Bulgaria and speeds up the process of obtaining citizenship for 2-6 years instead of 10 years.
The basis for obtaining citizenship from 2020 is the purchase of real estate worth at least 2,000,000 BGN. The purchase of real estate in Bulgaria for a lower amount does not provide the basis for obtaining citizenship. If you buy real estate in the amount of 1,000,000 BGN and more you may get a residence permit.
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