Bulgaria to Cancel Citizenship of 8th CIP-Investor in Three Months

The office of Bulgaria’s Prosecutor-General has uncovered eight instances of fraudulently obtained citizenships over the last three months, with several cases dating back to 2011. Summer of discontent In the three months to September, Bulgaria has revoked the citizenships of eight investors in the country’s “fast track” residence-to-citizenship by investment program. Authorities cite instances of

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NBLO: Why Bulgaria Should Retain its Investor Migration Program

This post was contributed by the Ivan Petrov of the New Balkans Law Office. Background On 22.01.2019 and 23.01.2019, the Government of Bulgaria (GoB) announced intended amendments to Bulgaria’s citizenship law. These will, if passed in Parliament, abolish investment citizenship and align Bulgaria with the 17 EU member-states which the European Commission in its simultaneous

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Bulgaria Mulls Scrapping Residence-to-Citizenship Program Due to Lack of Interest

Christian NesheimEditor   Reuters reports that the Bulgarian Ministry of Justice plans to terminate its residence-to-citizenship by investment program, citing a lack of interest from investors and dubious economic benefit to the country as their motivations. “The data shows that the aim to increase real foreign investment and economic development has not been achieved. As

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20 State-Officials Arrested in Bulgaria in Massive Bribes-for-Passports Scam

While the European Commissioner for Justice focuses on her “concerns” about residence and citizenship by investment, thousands bribe their way to European passports. Bulgarian authorities have arrested more than 20 state officials employed in the Agency for Bulgarians Abroad on charges ranging from corruption to forgery in a large-scale scam that prosecutors allege provided false

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3 Countries Make up 84% of Europe’s €5bn-a-Year Golden Visa Market

Three countries issued 84% of golden visas in Europe last year; one country alone made up more than half the market. We’ve compared Europe’s golden visa programs by application approval volumes and foreign direct investment raised over the last 12-month period.  A note on our figures: For the number of approved main applicants during the last

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Bulgaria Reportedly Receives 193 Applications for Citizenship by Investment

Investors lodged 193 applications for citizenship by investment in Bulgaria as of last month, according to an article on the website of New Balkans Law Office.  Bulgaria – which does not have a formal CIP promoted by the government but which nonetheless offers what now appears to be a viable route to EU citizenship –

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The Truth About Bulgarian Citizenship by Investment – An Expert Panel Comments

There’s contention among citizenship by investment practitioners regarding the residence/citizenship by investment program in Bulgaria. Many reputable firms market the program as a CIP, others as a residency program, and others yet stay away from it entirely. In discussions about the program, a number of questions tend to come up: Does it have a sound

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Pressed by EU, Canada Grants Visa-Free Travel to Bulgaria and Romania

Canada will hand a major boost to the value of Bulgarian and Romanian citizenship on December 1st this year, when passport holders of the latter two countries will at last be able to travel to the former on an Electronic Travel Authorization (eTA), a privilege long enjoyed by other EU citizens, reports passportindex.com. The early

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