The Bulgarian CIP – more and more fake news from agents who try to sell “junk” passports or ultra expensive citizenship programs
We are regularly receiving questions about the Bulgarian citizenship by investment program. And a great portion of the questions relate to whether the program is still working. Here is a set of questions that we received recently (along with our answers):
I am interested in Citizenship program through Eurobonds. is it still possible, as I heard that this scheme will be cancelled by the Bulgarian government?
The short answer is – YES, the Bulgarian citizenship by investment program is up and running.
Ok, but are there any plans to change the program’s conditions?
Yes, there are (were?) plans to tighten the conditions of the program. The European Commission has sharply criticized all three EU CIPs (Malta, Cyprus and Bulgaria). After the criticism, both Malta and Cyprus have tightened significantly the conditions of their programs. Bulgaria tried to follow too, but all proposed amendments are now basically put to a hold.
Where can I find news about the state (and the development) of the Bulgarian investment citizenship program?
But why are agents from Cyprus and Malta telling me that the Bulgarian CIP has been cancelled?
Because they have no change of marketing their programs otherwise. The Bulgarian program is so much cheaper and safer than those of Malta and Cyprus. We think that nobody in his right mind would ever go for Malta or Cyprus when there is Bulgaria. So there is little left for the agents in Cyprus and Malta, other than to blatantly try to convince you that there is no Bulgarian citizenship by investment program at all (ie that it is not working).
The Bulgarian Citizenship by Investment program is up and running at its original legal conditions. It may take time, but these condition will be certainly tightened. As it is now, the Bulgarian CIP is simply a gift. Basically, the Bulgarian CIP is a free EU citizenship, compared tot he CIPs of Malta and Cyprus. But free stuff doesn’t last for long. Soon, those who have jumped on the boat already will realize that they have made the best “investment” in their life.