1. Research Bulgaria

• Due Diligence: Conduct thorough due diligence on the program, investment opportunities, and the agents or firms assisting with the process.
• Legal Advice: Seek comprehensive legal and financial advice to understand all implications, including tax obligations and compliance requirements.
• Reputable Agents: Use reputable and certified advisors who have a proven track record in managing citizenship by investment applications.
• Stay Informed: Keep abreast of any changes in the political and regulatory landscape of the chosen country and the EU as a whole.

2. Prepare relevant documents, including:

• Passport and personal photos with a white background.
• Household registration transcript.
• Marriage certificate (if applicable).
• No criminal record certificate.
• Birth certificates.
• Employment certificate.
• Bank statements.
• Certificate of residential address.
• Medical insurance and blood test report.

3. Translate relevant documents, including those listed above, to English.

4. Hire a professional immigration consulting law firm to prepare applicable forms. The law firm typically provides the following services:

• Advises on and prepares supporting documentation for the client’s pre-approval process.
• Obtains a certificate confirming the client’s eligible investment from the competent authority.
• Advises on and prepares supporting documentation for the client’s visa and permanent residence applications, guiding the client through these processes.
• Liaises with Bulgarian authorities following the issuance of permanent residence approval and assists with local population register compliance.
• Organizes and accompanies the client to their Permanent Residence Permit issuance appointment, assisting with the issuance and collection of the Permanent Residence Permit.
• Advises on and prepares supporting documentation for the spouse’s and children’s visa and permanent residence applications, guiding them through these processes.

5. Prepare funds including the investment of €500,000 and applicable fees required of advisors and local attorneys.

6. Invest €500,000 into a government-approved Alternative Investment Fund by transferring funds from the investor’s personal account (typically in the U.S., Hong Kong or Singapore).

7. Apply for Pre-Approval and Visa-D from the Bulgaria Ministry of Foreign Affairs:

• Visit a Bulgarian Consulate in Los Angeles or Washington D.C. in the U.S. or Shanghai or Beijing in China.
• Submit applicable documents and forms, including the Visa-D Application.
• Receive Preliminary Letter of Approval and Visa-D.

8. Apply for Permanent Residence:

• Visit Bulgaria: Travel to Bulgaria to apply for the permanent residence permit within the validity period of the Visa-D.
• Submit required documents including:
• PR application form.
• Certificate of no criminal record.
• Local health insurance.
• Obtain Permanent Residence Permit: Complete the application process.

9. After receiving Permanent Residency, Wealth Creators should:

• Maintain Bulgarian Residency: Ensure annual entry into Bulgaria and maintain a Bulgarian residential address.
• Apply for Citizenship: After keeping Permanent Residence status for five years, Wealth Creators can apply for Bulgarian citizenship.
• Obtain a Local Cell Phone Number: Necessary for communicating and opening bank accounts.
• Open a Personal Bank Account: Required for financial transactions in Bulgaria and in the EU.
• Establish an operating or investment company in Bulgaria.
• Open corporate bank or investment account(s).

The above summarizes the comprehensive process of obtaining Bulgarian permanent residency.