Parliament adopts amendments to Bulgarian Citizenship Act

The National Assembly approved, definitively, amendments to the Bulgarian Citizenship Act, by force of which a Consultative Council is set up with the State Agency for Bulgarians Abroad. The Council shall deliver its opinion on citizenship within two months, taking into consideration whether the applicants have knowledge of the Bulgarian language, whether they identify themselves as persons of Bulgarian origin and whether they are part of a Bulgarian community or Bulgarian minority in another country.

The acquisition of Bulgarian citizenship on the basis of investment in government bonds is terminated. From now on investments in acquiring shares or bonds of Bulgarian commercial companies worth at least 2 million Leva (a little over 1 million euro) shall be considered grounds for the acquisition of citizenship.

Another way to acquire a Bulgarian passport is if the applicant makes an initial investment of over 250, 000 euro in a company which has created at least 10 jobs, and one year later, increases the investment to at least 500,000 euro, and the company creates more than 20 jobs.

A continuous residence permit can be obtained by foreigners who are holders of startup visas, a certificate for a high-tech and/or innovative project issued by the State Agency for Scientific Research and Innovations, as well as if, after issuance of a long-stay visa, they have become partners or shareholders in a Bulgarian trading company and own at least 50% of its capital. /BGNES