Common Misconceptions about the Bulgarian CIP
What most consultants will not tell you about the Bulgarian CIP
To make the Bulgarian investment program seem more attractive than other countries’ programs, some consultants may hide or alter the facts in order to sell Bulgarian citizenship through an investment service. Our first article will focus on the common misconceptions about acquiring Bulgarian citizenship through an investment program.
Misconception 1 – Time to Bulgarian citizenship by investment
Several Bulgarian law firms claim to be the best service provider of the Bulgarian program while openly misleading potential investors about the time it takes to acquire Bulgarian citizenship. Such misleading information can be found at https://www.bulgarian-citizenship.org/by-investment/2021-program/how-to-get-a-bulgarian-passport-and-eu-citizenship-in-12-months-mission-possible/
The print screen above was taken at 9.21pm on the 30th of May, 2021.
Promotion of the relatively short time it takes to acquire citizenship is a well-used marketing trick. According to the cited article above, it is possible to get Bulgarian citizenship by investment in 12 months. This information is not only misleading but also 100% false. Eligibility for the fast-track Bulgarian citizenship by investment requires the applicant to hold permanent residency for 12 months before he can apply for Bulgarian citizenship.
Let’s see the facts
Time to obtain Investor D visa: 3 months
Time to obtain permanent residency: 3 months
Maintaining permanent residency status before applying for citizenship: 12 months
Ministry of Justice application consideration: 6 months
Total time: 24 months
You may have a look at the sample schedule of the steps to get Bulgarian citizenship by investment.
The required time in each of the above stages is stipulated in the legislation. According to Art. 35, para. 1, point 5 of the Citizenship Act applications by investment shall be considered within six months.
Is it possible to obtain Bulgarian citizenship by investment within a 12-month period?
Yes, it is possible in the eyes of advertisers of the Bulgarian citizenship by investment program, who have never had experience in the field.
Can I speed up the process?
The process can be sped up if all stages in the process of obtaining Bulgarian citizenship are well-planned in advance.
What is the realistic time to get Bulgarian citizenship by investment?
You can expect to obtain Bulgarian citizenship by investment within a 24-month period.