In a groundbreaking move, Bulgaria and Romania are set to join the Schengen Area starting March 31, 2024 partially. This pivotal development means that nationals and residents of both countries will soon enjoy seamless travel across the Schengen zone without border checks.
This significant leap opens doors of opportunity for global investors, as Bulgaria and Romania boast thriving residency by investment (RBI) programs. With a minimum investment of €512,000 for Bulgaria and €1 million for Romania, investors now have two more enticing options to consider for securing their foothold in the European Union.
Alexander Dobrinov, managing partner at Bulgaria-based Posolstvo, highlights the surge in inquiries following the announcement. “We have been experiencing about 10 to 15 times more inquiries related to the possibility of obtaining a Bulgarian residence permit,” says Dobrinov.
However, amidst the excitement, questions arise about the future of these RBI programs under the scrutiny of the EU. Despite potential challenges, both Bulgaria and Romania offer relative advantages to investors, including a low cost of living and favourable tax rates.
As the Schengen door swings open, savvy investors are urged to seize this golden opportunity to secure their future in the heart of Europe. Stay tuned as we delve deeper into the implications and opportunities presented by Bulgaria and Romania‘s historic Schengen accession.
Feel free to reach out to MICS Global and arrange an initial private consultation. During this session, we’ll explore your specific needs in-depth and offer personalized insights to guide you on your journey. We look forward to connecting with you.
Resource
