Bulgaria Ranks Among Top Three in Europe for Sheep Farming Subsidies
Bulgaria ranks among the top three countries in Europe in terms of financial support for sheep farming, yet the sector struggles due to outdated farming practices
The Bulgarian state has finally abolished the possibility of acquiring citizenship for investment. This happened with the amendments to the Law on Bulgarian Citizenship adopted at the second reading. The adopted texts abolish the possibility of acquiring citizenship in exchange for an investment. The provisions regulated in the Bulgarian Citizenship Act, which give the opportunity to acquire Bulgarian citizenship to persons applying for acquisition of Bulgarian citizenship or received a permanent residence permit for investments made mainly in the purchase of government securities worth over one million levs, are repealed in addition to investments of over BGN 1 million in a licensed credit institution under a trust management agreement, which have accordingly increased the investment under the same conditions to BGN 2 million.
The deputies agreed within six months of the entry into force of this law to the State Agency “National Security” to check the existence of grounds for revocation of naturalization in all cases of acquisition of Bulgarian citizenship. The information on the results of the inspection shall be provided to the Minister of Justice, with a view to assessing the application of the powers provided for in the adopted texts.
The deputies also agreed to terminate the applications for acquisition of investment citizenship, in accordance with the provisions repealed by the adoption of this bill.
Petar Petrov (“Vazrazhdane” /Revival) commented that the applications submitted so far should be considered and resolved because in his words they were all submitted legally. He asked what necessitated the decision to terminate them and pointed out that legal uncertainty would be created for all future proceedings. Petrov added that it concerns more than 100 submitted applications. According to him, more than BGN 200 million has been invested in government securities. According to him, with the adoption of the provision in question, what we will do is simply return this money.
Krum Zarkov (“Bulgarian Socialist Party”) commented that with the adoption of the bill Bulgaria will no longer be on the black list of EU and EC countries.
Hamid Hamid (“Movement for Rights and Freedoms”) said that with the adoption of this law we have put an end to a difficult dispute over these years whether to have investment citizenship or not. He pointed out that the issue of residence on the basis of investments remains unresolved. Hamid added that the issue of so-called gold visas is also on the agenda.
/BTA
Follow Novinite.com on Twitter and Facebook
Write to us at editors@novinite.com
Информирайте се на Български - Novinite.bg
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
According to data from a Eurobarometer survey cited by the media, a majority of young Bulgarians (54 percent) indicate their intention to participate in the upcoming European Parliament elections scheduled for June 9
During the election campaign, members and candidate MPs of the pro-Russian political party "Revival" obstructed and physically prevented specialists from the Ukrainian nuclear power plant operator "Energoatom"
Bulgarian President Rumen Radev has decided not to veto the proposed amendments to the Gambling Law, which include a prohibition on gambling advertisements in the media
Acting Minister of Defense Atanas Zapryanov assured that the F-16 Block 70 aircraft will undergo full maintenance in Bulgaria
Bulgaria stands firm in its refusal to accept any statements or actions from the Republic of North Macedonia that run counter to the 2017 Treaty of Friendship, Good-Neighbourliness and Cooperation, as well as other international agreements to which North
Maritime.bg recently shared images on social media featuring sailors from the vessel "Galaxy Leader," which had been seized in the Red Sea
Sofia Airport's Terminal 3 Construction Set to Begin in Early 2026
COVID-19 Impact: Bulgaria's Grim Milestone as Highest Death Rate in EU