The Bulgaria golden visa offers a pathway to long-term residency through approved investments rather than direct citizenship.
Bulgaria residency by investment became the primary route after the country phased out its citizenship by investment program in 2022.
This guide covers:
- Why Bulgaria citizenship by investment closed
- How much is a Golden Visa in Bulgaria?
- Does Bulgaria offer a Schengen visa?
- Can I get Bulgaria residency by buying property?
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The information in this article is for general guidance only. It does not constitute financial, legal, or tax advice, and is not a recommendation or solicitation to invest. Some facts may have changed since the time of writing.
Bulgaria Residency by Investment
Bulgaria’s residency-by-investment program, commonly known as the Golden Visa, allows non-EU nationals to obtain permanent residency by investing approximately €512,000 in government-regulated funds such as Alternative Investment Funds (AIFs), Exchange-Traded Funds (ETFs), or Bulgarian companies.
Bulgaria Citizenship by Investment Suspended
Bulgaria officially ended its Citizenship by Investment (CBI) or Golden Passport program in 2022, following concerns raised by the European Commission over security risks, money laundering, and the program’s limited economic benefits.
This decision marked a major policy shift from offering direct citizenship to a focus on residency by investment, now referred to as the Bulgaria Golden Visa.
Under the new framework, investors can still obtain permanent residency by meeting the program’s financial requirements, such as eligible investments in Bulgarian businesses or government-approved assets.
After holding permanent residency for five years and fulfilling other conditions such as language proficiency and integration requirements, applicants may still apply for Bulgarian citizenship through naturalization, not direct purchase.
What Is the Minimum Investment to Get a Golden Visa in Bulgaria?
The minimum investment required is €512,000 (~BGN 1 million).
This must be placed in approved AIFs, ETFs, or similar regulated vehicles and maintained for at least five years.
Bulgaria Golden Visa Requirements
The Bulgaria Golden Visa program requires applicants to meet strict eligibility criteria including:
- Pre-approval via due diligence with the Bulgarian Investment Agency is required before investing.
- Non-residents of EU, with verifiable source of funds, clear criminal record, and financial standing are eligible.
- No language or physical presence requirements for permanent residency, though a language exam may apply when applying for citizenship.
- Permanent residency status from day one, with renewal every five years.
Bulgaria Golden Visa Costs
Aside from the minimum €512,000 investment, applicants must consider additional costs, including:
- Government Fees and Application Charges – Processing, residency card issuance, and due diligence fees can range from €5,000 to €25,000 depending on family size and investment route.
- Legal and Advisory Fees – Professional assistance for structuring the investment, preparing documentation, and ensuring compliance may cost €5,000–€25,000, with higher fees for complex cases or larger families.
- Fund Management Fees (for fund route) – Annual management charges are around 1% of the investment amount, with potential performance fees of about 25% on profits above a 7% return.
- Renewal Fees – Permanent residency cards are renewed every five years, with administrative charges applied per applicant.
- Miscellaneous Costs – Translation, notarization, apostille, and travel expenses to Bulgaria may add €500–€1,500 or more.
What Are the Benefits of Permanent Residency in Bulgaria by Investment?
The Bulgaria Golden Visa program offers one of the fastest and most secure pathways to European residency.
Other benefits include:
- Immediate Permanent Residency
Successful applicants are granted permanent residency from day one, bypassing the usual stage of holding a temporary residence permit. This accelerates the timeline for accessing long-term benefits such as healthcare, education, and eventual citizenship. - Enhanced Mobility Across Europe
Bulgaria’s entry into the Schengen Area in 2025 allows permanent residents to travel freely across Schengen member states without additional visas. This significantly improves mobility compared to previous years. - Favorable Tax Environment
Bulgaria offers one of the lowest flat tax rates in the EU (10% on both personal and corporate income) making it attractive for high-net-worth individuals seeking efficient tax planning options. - Inclusive Family Residency
The program allows the main applicant to include their spouse, dependent children, and even parents, ensuring family members can share residency rights and long-term benefits. - Pathway to Citizenship
After maintaining permanent residency for at least five years and meeting additional criteria such as language proficiency, applicants can apply for Bulgarian citizenship. Dual citizenship is permitted, allowing investors to retain their original nationality. - Access to EU Healthcare and Education Systems
Permanent residents are entitled to access Bulgaria’s healthcare and public education services, with the added advantage of lower living costs compared to Western Europe.
What Are the Disadvantages of a Golden Visa in Bulgaria?
Potential applicants of the Bulgaria Golden Visa should consider its limitations:
- High Entry Cost
The minimum investment requirement is around €512,000, placing the program firmly within reach of high-net-worth individuals. For some investors, this capital requirement may limit diversification into other assets. - Five-Year Lock-In Period
Investors must keep their funds in approved financial instruments for at least five years. Early withdrawal may result in losing permanent residency status or disqualification from the citizenship process. - Ongoing Fund Management Costs
Depending on the chosen investment vehicle, annual management fees can range from 1–2%, with additional performance-based fees for high-return funds. These costs can erode returns over time. - Regulatory Changes
Previous fast-track citizenship by investment via government bonds was discontinued in 2022, reflecting Bulgaria’s shift toward stricter residency requirements. Future amendments to program rules remain possible, adding an element of uncertainty for long-term planning.
Bulgaria Golden Visa vs Portugal vs Greece Golden Visa
The key difference among these three golden visas is that Bulgaria offers immediate permanent residency with a flat 10% tax rate, while Portugal and Greece provide temporary residency with progressive tax systems and renewal requirements.
| Feature | Bulgaria | Portugal | Greece |
| Investment threshold | €512,000 (funds or real estate) | €500k+ (funds), real estate banned now | €250k–€800k |
| Residency duration | Immediate permanent; no stay required | Temporary, then renewal | Temporary, then renewal |
| Processing time | 3–6 months | 12-18 months (often delayed) | 3-4 months (moderate) |
| Citizenship timeline | After 5 years | After 5 years | After 7 years |
| Mobility | EU travel; Schengen member | Full Schengen | Full Schengen |
| Tax benefits | Flat 10% tax rate | Progressive tax | Progressive tax |
Conclusion
The Bulgaria Golden Visa appeals to investors seeking stability in a growing EU economy.
Beyond the immediate residency and citizenship potential, it offers access to Bulgaria’s competitive tax system and a strategic location bridging Europe and Asia.
For those looking to combine lifestyle advantages with long-term security, it stands out as a pragmatic alternative to more saturated European residency programs.
FAQs
Can You Lose Your Golden Visa in Bulgaria?
Yes, residency can be revoked for serious legal violations.
For instance, even minor tax or labor infractions can jeopardize your status, according to Bulgarian law.
Also, failure to maintain the investment or invalid residency cards may lead to revocation.
Can You Get Residency in Bulgaria by Buying Property?
Yes—but this is an alternative route.
A real estate investment of at least €305,900 (including VAT) can qualify for temporary residency, which may become permanent after five years.
This route tends to require more time and steps than fund investment.
How Long Can I Stay in Bulgaria If I Own a Property?
Owning property alone does not grant residency rights.
Under the Golden Visa program, there is no physical stay requirement to maintain permanent residency once approved.
However, applicants must travel to Bulgaria for biometrics collection and when renewing residency cards.
Can I obtain Bulgaria residency by company formation?
Yes. There are two main pathways:
-Trade Representative Office (TRO) – You can register a TRO of your foreign company in Bulgaria. This grants a renewable one-year residence permit, provided the TRO remains active.
–Bulgarian Company with Employment – Setting up a company and employing at least 10 Bulgarian citizens allows you to apply for residency.
Permanent residency is only available after maintaining temporary residency for five years. Passive company ownership alone does not qualify.
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