Bulgaria Closes Its Golden Visa Program

Bulgarian Prime Minister Kirill Petkov said that the Golden Visa program, which attracts a large number of foreigners, will be canceled. This is a logical step, as the government has previously announced the suspension and abolition of the program.

One of the reasons for closing the program is the lack of real investment in the country's economy.

According to a report by Euractiv, 96 foreign investors have received Bulgarian Golden Visas. Most of them are Russians, followed by citizens from the Middle East. In order to qualify for the Golden Visa, investors had to invest at least 1,000,000 BGN or 568,000 USD.

Why do investors consider obtaining a residence permit in another country?


Freedom and Flexibility

  • The main reason is the additional freedom that you will gain. New doors and opportunities will open. A recent survey found that 90% of the participants desire to have a second residency and second passport. In today’s world, you owe it to yourself and your family to provide them with more freedom options.


Safety and Security

  • Your Residence Permit can be considered to be additional insurance. You can sleep better at night knowing you have the paperwork in place to move quickly to distance yourself from all kinds of threats: from pandemics to criminal risks, to political instability and armed conflict. Don’t be the one left behind trying to work through bureaucracy when disaster has already struck.




What are the practical benefits of residency by investment programs?


Second Passport – depending on the country, after 3-7 years you should qualify for a second passport for the country where you have a second residency, which will provide you with additional visa-free travel opportunities.


High-Quality Healthcare – you and your family deserve access to the best healthcare and you can achieve this with a second residency.


High-Quality Education – you and your family can attend high-quality educational establishments while often paying lower local fees.


Property Ownership – you can secure your assets in a stable country by acquiring real estate in your country of second residence.

Interested not only in obtaining residency in another country but also citizenship? Don't know where to start and have a lot of questions? Find the answers in our new free book!


Source: schengenvisainfo

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