Bulgaria to give its citizenship to large-scale investors


Bulgarian news agency FOCUS has informed that the respective amendment was introduced by the Bulgarian Parliament to the Stimulation of the Investments Act.

«Bulgaria has decided to give its citizenship to large-scale investors. This is one of the measures to stimulate foreign investments to country’s economics. Foreigners from the third countries, being potential investors, have received a right to obtain a permit for a long-term stay in the Republic of Bulgaria and the Bulgarian citizenship in connection with their implementation of investment projects in the country», – the news agency message informs.

National Assembly deputies have adopted all amendments and alterations, introduced by the Council of Ministers to the Stimulation of the Investments Act, at the second reading. In addition to the provision of the Bulgarian citizenship, they will optimize and decentralize the certification procedure for investment projects and create a number of opportunities to stimulate foreign investments at the community level.

Before the start of the recession approximately € 9 billions had been annually invested to the Bulgarian economics. In 2010 this amount went down to € 1.21 billions, while in 2011 it reached € 1.34 billions. In 2012 foreign investments are still at the previous year level. 

English translation BSN
Adapyed from Ukrinform

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