From the Founder – Edmund:
Digital Identity Project
Hi,
We have a new initiative that I’ve been working on which is still in stealth mode. We are not fully ready to make a public announcement, but we are looking for a few people (perhaps you are one of them!) to be an ambassador of this new project. I would like to share our whitepaper and get your feedback.
If you are interested in digital identity or blockchain please click here to receive more information. We’ll ask you to complete a survey and send you more information if you qualify. We appreciate your collaboration.
From Flag Theory:
Bulgarian Citizenship by Investment Financing Products
Bulgaria has one of the most compelling citizenship by investment programs worldwide. Investing EUR 1,024,000 (BGN 2,000,000) in 5-year maturity interest-free government bonds, you and your family can get an EU passport in as little as 18 months.
Let’s dissect the process:
First step – Obtaining an instant permanent residence permit
According to the Foreigners in the Republic of Bulgaria Act, Article 25, par 1, item 6:
A permanent residence permit may be granted to foreigners:
6. who have invested in Bulgaria more than BGN 1,000,000 or increased their investment by such an amount by acquisition of:
a) shares of Bulgarian commercial corporations traded in a regulated Bulgarian market;
b) bonds and treasury bills, as well as derivative instruments thereof, issued by the State or the municipalities;
c) title to a separate part of the property of a Bulgarian commercial corporation wherein the State or the municipalities hold more than 50 percent of the capital in accordance with the Privatisation and Post-Privatisation Control Act;
d) shares in a Bulgarian commercial corporation held by the State or the municipalities in accordance with the Privatisation and Post-Privatisation Control Act;
e) Bulgarian intellectual property – objects of copyright and neighboring rights, patent-protected inventions, utility models, trademarks, service marks and industrial design;
f) rights under concession contracts within the territory of the Republic of Bulgaria.
Second step – Obtaining fast-track citizenship:
According to the Citizenship Act, Section III:
(1) Any person, who is not a Bulgarian citizen and who possesses the qualifications referred to in Items 1 and 3 of Article 12 (1) herein, may acquire Bulgarian citizenship by naturalization if:
1. not less than one year theretofore, he or she had been granted a permanent residence permit for the Republic of Bulgaria in pursuance of Item 6 or 7 of Article 25 (1) of the Foreigners in the Republic of Bulgaria Act and has increased his/her investment in compliance with the same conditions of the law to at least BGN 2 million or has invested not less than BGN 1 million in the capital of a Bulgarian commercial corporation which executes a priority investment project certified according to the procedure established by the Investment Promotion Act.
Timeline: 3-5 months to process permanent residency application + 12 months to be eligible for citizenship + 3-5 months to process citizenship application. Total = 18-22 months.
In summary, you invest €1,024,000 in Bulgarian interest-free government bonds, you obtain your Bulgarian Passport in less than two years and you recover the principal in 5 years.
Although there are other investment options to get Bulgarian citizenship, investing in government bonds is an almost risk-free option. Bulgaria has the lowest debt-to-GDP ratio (26.7%) in the EU after Estonia (9%) and its economy is growing at a yearly 3%, hence it seems that a default is not likely. Also, the Bulgarian Lev (BGN) is pegged to the EUR at a 1.95:1 ratio.
Of course, put €1 million 5 years without accruing interest is painful, but if you are seeking an EU passport, Bulgarian citizenship by investment costs are the lowest.
However, you can also consider investing in shares of a Bulgarian public company or in intellectual property for returns.
What do I get with a Bulgarian Passport?
The Bulgarian passport can be of great value for any non-European citizen, considering the following benefits:
- The Bulgarian passport allows visa-free travel or visa on arrival to 154 countries, including the Schengen Area, Turkey, Australia, New Zealand, Southeast Asia, Japan, South Korea, South America, Mexico and the Caribbean, among others.
- Acquiring Bulgarian citizenship implies acquiring full EU citizenship, enjoying access to the European market and freedom of movement, and all benefits that it entails.
- Bulgaria is qualified to be a member of the Schengen Area.
- The right to settle and/or do business in any EU / EEA country or in Switzerland.
- The right to buy land in Bulgaria and other EU countries.
- Access to the educational system in Bulgaria and other EU member states.
- The right to obtain medical care and social benefits in Bulgaria and in the European Union.
- No physical residency and language skills requirements.
Although obtaining the Bulgaria residency/citizenship by investment does not imply any tax liability, plant a tax residency flag may be attractive. Consider that both personal and corporate income tax rate is 10%, and dividends and interests are subject to a final 5% and 8% tax, respectively. Furthermore, Bulgaria has concluded about 60 tax treaties.
Bulgaria has amazing mountains, landscapes and natural parks, historical towns, modern cities and nice beaches, where take a dip into the Dead Sea and enjoy its summer high temperatures. Bulgaria is in a two-hour flight from all European cultural and financial centers and the cost of living is cheap, very cheap.
Do not have €1 million available? Through Flag Theory | Passports.IO Financing Products you can get your Bulgarian citizenship for a total non-refundable investment of €270,000 (all fees included). This has been a very popular option because, although there is no capital return, the non-refundable investment is considerably smaller than Malta’s passport program (€650,000) or Cyprus’ program total cash outlay (+€2 million).
Furthermore, we have several other Financing products that will lead you to Bulgarian Citizenship.
If you want to know further details about this program and our financing products, as well as discuss other options, apply now for a free private consultation call and start your journey towards more freedom, privacy and wealth.
New Thai visa scheme
Thai 10-year Non-immigrant visa
Since Friday August 11th, it is available a multiple-entry visa for foreigners aged 50 and over.
The visa has a validity of 5 years, renewable for further five years.
They are only eligible citizens of: Japan, Australia, Denmark, Finland, France, Germany, Italy, Netherlands, Norway, Switzerland, Sweden, Great Britain and Northern Ireland, Canada and United States of America.
Requirements include making a bank deposit of at least THB 3,000,000 in a Thai Bank, or a combination of THB 1,800,000 bank deposit and annual income of not less than THB 1,200,000. The bank deposit must be kept for one year, after that amount to be kept may be reduced to THB 1,500,000, under certain conditions.
This visa is individual and does not include dependents. If your spouse does not fulfill the requirements, he or she may apply for a Non-immigrant O-A (long stay) or a Non-immigrant O visa (short stay).
Note that any foreign-national staying in Thailand without a permanent residency must report his or her stay every 90 days at any Office of the Immigration Bureau or Police station.
This visa does not entitle you to work in Thailand, nor qualifies for permanent residency.
At Flag Theory | Passports.IO, we have partnered with the soundest bank in Thailand to offer a Thai O-X Visa Complete Package, including:
– Non-immigrant visa O-X Visa.
– Non-Immigrant O/O-A Visa for dependents.
– Bank account opening to make the required deposit with one of the most solid banks in SE Asia.
– Advantageous Thai insurance (O-X mandatory requirement).
Schedule a free consultation call or e-mail us at [email protected] for further information.
Thai Investor visa
Thai authorities have also announced a plan to offer four-year visas to highly skilled professionals, entrepreneurs and investors.
Eligible investors would be those who invest in 10 targeted high-tech industries approved by the Board of Investment (BOI) (Read our article on how to set up a 100% foreign-owned BOI approved company).
These investors would get visa terms ranging from two to four years depending on the industries in which they invest. The targeted industries are the next generation of automotive, high-income tourism and medical tourism, smart electronics, efficient agriculture and biotechnology, food innovation, robotics, aerospace, bio-energy and biochemical, digital, and medical and healthcare.
Start-up investors would get visas ranging from two to four years depending on the technologies they invest in.
Medical personnel, researchers and aviation engineers who apply to work in Eastern Economic Corridor projects (EEC) will be also eligible for this 4-year visa.
The visa will allow its holders, their spouse and children to reside in Thailand up to four years without applying for a work permit. Furthermore, unlike other visa holders who have to report to the authorities every 90 days, they would only need to present themselves to the Immigration Bureau annually.
Thai government announced that this visa will be available on January 2018.
We will keep you informed as soon as more details are released. You can check further information on Thai visas available at residencies.io.
Antigua and Barbuda Citizenship by Investment
The Cabinet of Antigua and Barbuda has reduced the Citizenship by investment program’s government processing fees:
$200,000 Donation to the National Development Fund: US$25,000 for a family of up to four persons, plus US$15,000 for each additional dependent. This may represent a saving of over US$ 125,000.
$400,000 Real Estate or $1.5 million Business Investment: US$50,000 for a family of up to four persons, plus US$15,000 for each additional dependent. This may represent a saving of over US$ 100,000.
Nationals of restricted countries (Afghanistan, Iran, Iraq, North Korea, Somalia, Sudan and Yemen) may apply if they do not maintain economic ties with the country and they migrated before the age of majority and/or have maintained permanent residence for at least 10 years in Canada, UK, USA, Australia, New Zealand, Saudi Arabia, or UAE.
These changes will be reviewed by the Cabinet within the next six months, so if you are considering applying for Antigua and Barbuda’s passport program, now is the time, as fees may be increased in the future.
For further details on Antigua’s citizenship by investment, schedule a free consultation call.
Dominica Citizenship by Investment
For its part, Dominica has also slashed fees of its citizenship by investment program:
Real estate investment fees (US$200,000):
US$25,000 – Main Applicant (before US$50,000)
US$35,000 – Main Applicant + Spouse (before US$75,000)
US$35,000 – Family of up to four persons, including Main Applicant and up to three Dependents (before US$75,000)
US$50,000 – Family of up to six persons, including Main Applicant and up to five Dependents (before US$100,000)
US$70,000 – Family of up to seven persons, including Main Applicant and at least six dependents
Fees for an additional dependent are US$25,000.
Reduced fees are available until September 1, 2018.
New schedule of fees for the Non-refundable contribution option:
US$100,000 – Single Main Applicant
US$175,000 – Main Applicant and Spouse (before US$150,000)
US$200,000 – Main Applicant and up to three Dependents
US$25,000 – Additional qualifying Dependent of the Main Applicant, other than a spouse (before US$50,000)
For further details on Dominica’s citizenship by investment, schedule a free consultation call.