Afterwards he committed himself to directing, play-writing, film and play producing in Great Britain and the United States.
After Todor Zhivkov was removed from power on November 10, 1989, Ganchev returned to Bulgaria and took part in founding the Union of Democratic Forces (SDS).
The party contested the 1991 parliamentary elections but won only 73,379 votes (1.3%); failing to cross the 4% electoral threshold.
They finished 3rd with 16.8% of the popular vote; behind the SDS candidate (and winner) Zhelyu Zhelev and the socialist endorsed Velko Valkanov.
He was a Bulgarian State Security agent during the Cold War, from 1970 to 1990, in Department II (worked in universities and among students), division 19, branch 2.
Ganchev and his English wife Wendy had two daughters, Julia and Silvana,[13] who started their own business in Los Angeles.
[14] Shortly after his return to Bulgaria following the collapse of the totalitarian system in 1989, Ganchev began a long-term relationship with Valentina Shishkova, known as Shushi.