Bulgarian citizenship will be received easily

Bulgarian citizenship will be received easily

Bulgariahas announced new plans to issue citizenship to foreign buyers. New information contained in the amendments to the law on investment incentives, offered by the ruling party inBulgaria- GERB, according to Sofia News Agency Novinite. The scheme is designed to encourage the demand for Bulgarian property abroad.

Citizenship will be offered to customers in countries outside the EU that they invest at least 600,000 lev (€ 307 010) in Bulgarian property, or invest 500,000 lev (€ 255 841) in Bulgarian companies involved in "priority investment projects in industry, infrastructure, transport and tourism." This figure can be reduced by half if the money is invested in the poor areas of Bulgaria with high unemployment.

Bulgaria now has a law on investment incentives, so residents invested 1 million lev in public companies can get Bulgarian citizenship.

According to the Ministry of Justice, over 300,000 Russians already own property in Bulgaria.