Key Takeaways
- Bulgaria’s golden visa offers instant permanent residency to investors from outside the EU and their families with no minimum stay requirement, and a route to citizenship after five years with dual citizenship allowed. Make sure you are eligible and pass due diligence checks before proceeding.
- Select qualifying investments according to your risk profile and objectives for example €512,000 into AIF or UCITS funds, Bulgarian company shares or government bonds, or government-approved priority projects. Assure the investment is held for five years and keep full transaction records.
- To expect an application time from eligibility checks to residency card in 6-8 months. Get documents in order early, submit a type D visa at a Bulgarian embassy, and react quickly to any authorities’ requests.
- Spouses, children and parents can be included, all with equivalent residency and future citizenship rights. Put together complete civil documents and evidence of dependency/relationship to facilitate inclusion.
- Bulgarian residency facilitates EU mobility with visa‑free access to the Schengen Area and wide EU rights on citizenship. Bulgaria’s flat 10% personal and corporate income tax rates (and no wealth, inheritance or gift taxes) can facilitate efficient tax planning, with professional guidance.
- Set your investment strategy with diversification, risk profiling and an exit documented at the five‑year point. Analyse portfolio performance routinely, renew your residency card promptly, and retain documentation for the citizenship application which is usually 12–18 months.
The Bulgaria golden visa no longer exists as a scheme. It replaced the previous citizenship-by-investment pathway, which closed in 2022 following amendments to legislation.
Purchasing property in Bulgaria does not provide residence rights. Typical routes are work permits, the EU Blue Card, study (requires permanent residency), family reunification or business with jobs created.
The majority begin with a Type D visa and later, on arrival, get a residence permit. Bulgaria follows EU-aligned rules.
Our guide details eligibility, documents, fees and processing timelines.
Understanding the Bulgaria Golden Visa
An accelerated route to permanent residency for non-EU investors and their families, introduced in 2023. It provides instant PR with no minimum stay (over the normal 30 months in 5 years route). Five years later, holders can apply for Bulgarian citizenship, and Bulgaria allows dual nationality.
Key investment options include:
- €512,000 in eligible AIF/UCITS fund vehicles
- €512,000 in Bulgarian government bonds
- Participation in approved Priority Investment Projects
1. Investment Funds (AIF/UCITS)
Investments of a minimum of €512,000 into government-regulated alternative investment funds (AIF) or UCITS are eligible for the scheme. These cars are monitored and subject to EU regulations, which adds an element of transparency and custody protection.
AIFs and UCITS provide diversified exposure. A UCITS fund could track a generalist European bond index, while an AIF could target private equity in Southeast Europe. It’s a question of risk, costs, liquidity and sector concentration.
To maintain permanent residency, the fund units must be retained for five years. Early exit risks status. Applicants typically open a Bulgarian custodian account and engage a licensed broker to log compliant holdings.
2. Bulgarian Company Shares
Investment in a Bulgarian company satisfies Bulgarian requirements and supervision by the Financial Supervision Commission. Investors can buy equity in an existing, regulated issuer, or create a new company of their own and hold at least 50% whilst injecting at least €512,000 in paid-in capital.
This path works for those keen on pursuing active roles – employing staff, signing supply agreements or establishing export lines – but it requires management, tax declarations and evidence of source of funds.
Most applicants prefer sectors with obvious revenue lines such as IT services, light manufacturing or logistics hubs near Sofia or Plovdiv. They match the investment with an auditor and local counsel to ensure compliance.
3. Government Bonds
Bulgarian government bonds are an easy €512,000 investment. The attraction is the state credit support, fixed pricing, and straightforward custody via a regulated bank or broker.
Bonds must be retained for five years in order to maintain permanent residency. For most, that’s the least risky route.
4. Priority Investment Projects
These are large projects sanctioned by the Bulgarian Investment Agency that further national interests. Sectors typically include infrastructure, energy and technology – say, grid upgrades or data centres.
Investment can expedite elements of the procedure. Applicants must check existing government-backed projects, confirm eligibility, and timelines, job creation targets and reporting.
Kids can gain citizenship without a language test, but adults require A1/A2 Bulgarian or an exception. Things like EU residence (as well as Schengen access), education and healthcare, and the option of Bulgarian tax residency at a 10% flat rate on worldwide income.
Why Choose Bulgaria?
EU membership, a welcoming investor path through the Bulgarian golden visa program, and a stable economy all contribute to Bulgaria being an excellent base for international residents who appreciate freedom, mobility, and transparency.
EU Access
Bulgarian residency facilitates short-stay visa-free travel across the Schengen Zone for many passports as well as easy access to EU countries, perfect for frequent fliers who may need to visit clients or partners on short notice.
The country’s location at the intersection of Europe, Asia and the Middle East also reduces travel times to key markets. With Bulgaria as an EU member, its citizens have all EU rights to live, work and study in any EU country.
This simplifies long-term planning for careers, education and retirement, from Lisbon to Berlin to Dublin. By comparison with Portugal’s golden visa, Bulgaria’s pathway is light on stay requirements, but powerful on onward movement after citizenship is secured.
Portugal provides wide Schengen access at the residence level. Bulgaria’s key advantage is its adaptable route to an EU passport. Bulgaria’s passport is well-ranked for international travel freedom, offering extensive visa-free or visa-on-arrival access around the world, cutting down admin and costs for business and family trips.
Favourable Taxes
Bulgaria’s flat 10% personal income and corporate tax is a massive draw, among the lowest anywhere in the EU. There’s no wealth, inheritance, or gift tax for residents, which aids with long-term estate planning and cross-border asset holding. This favorable tax environment is particularly appealing to foreign investors looking to participate in the Bulgarian golden visa program.
For founders, the combination of low taxes, a booming economy (GDP per capita over $10,000), and clear-cut, rapid company formation reduces friction. Many entrepreneurs are attracted to Bulgaria due to its affordable cost of living and the presence of a skilled workforce in cities like Sofia, Plovdiv, and Varna. The Bulgarian business visa also provides a pathway for foreign entrepreneurs to establish their ventures here.
Most investors combine a Bulgarian company with regional sales hubs, leveraging the country’s logistics links to the EU, Turkey, and the Middle East to accelerate supply chains and cut costs. Furthermore, the Bulgarian investment fund options available make it easier for property investors to navigate the market effectively.
Citizenship Path
Permanent residency can lead to Bulgarian citizenship within around five years, if you satisfy legal residence and due diligence requirements, with the citizenship decision typically taking 12–18 months after you apply.
This provides the complete package of EU rights and entitlements for you and your family, plus broader travel access and education opportunities. Dual citizenship is permitted under the Bulgarian Citizenship Act, which allows investors to maintain links to their home country whilst obtaining EU status.
Family Inclusion
Spouses, children and dependent parents can accompany the primary applicant and receive identical permanent residency and a path to citizenship later. This appeals to families looking for permanent EU security, great schools and universities, and soft weather with mountains and beaches in close proximity.
Required documents for dependants include:
Passports and legalised birth/marriage certificates.
Proof of relationship and dependency (where relevant).
Health insurance covering Bulgaria/EU.
Clean criminal record and biometric data.
Proof of accommodation and funds in Bulgaria.
Family members have the same renewal terms, and once eligible the same citizenship timeline.
Your Application Journey
They advise a 6-8 month time frame from submission to end for the Bulgaria golden visa program – although some cases conclude within 3-6 months. Have documents prepared, respond quickly to requests, and monitor every step to prevent drift.
Eligibility Check
Engage in a little self-audit against the programme rules. If you’re unsure about anything, ask a licensed adviser in Bulgaria for a list of documents and timelines.
18+ years old, no criminal activity, and legal funds with an audit trail.
Invest the minimum required by law and programme policy (money, property or business shares).
valid health insurance, evidence of income/assets, a plan for stable accommodation in Bulgaria.
No EU/EEA/Swiss freedom-of-movement route already available to you.
Pass pre-approval and screening before you invest. This guards the show’s brand.
Accept ongoing compliance: renewals, reporting, and visits if asked.
Gather civil papers early: passports, birth and marriage records, police certificates, bank statements, tax returns, and proof of address. Obtain notarised translations and apostilles if required.
Put AML and PEP screenings on your list of things to expect. Banks and authorities will examine the flow of money. Pre-approval decisions are made within 14 calendar days, but there are buffers if further evidence is requested.
Investment Execution
Choose your route: regulated Bulgaria golden visa funds, qualifying real estate, or company shares that meet programme rules.
Confirm written eligibility of the asset, check fees and lock-up periods, and verify the custodian or land registry entry. Transfer at least the minimum investment from a bank in your name, retain SWIFT slips, bank letters, custody statements, and obtain an investment certificate.
Don’t close until legal checks clear, AML is passed and pre-approval is on file. Store contracts, valuations, proof of payment, compliance letters. You’ll hand them to the Bulgarians and then you’ll need them again at renewals.
Visa Submission
Apply for a D-type long-stay visa at a Bulgarian embassy or consulate in your country. Book early, some posts are fully booked weeks in advance.
You will submit: passport, investment certificate, proof of funds and origin, clean criminal record, health cover, accommodation plan, and recent photos. This application is usually processed within a period of two months.
Follow up your application and respond to any additional questions promptly.
Residency Permit
Travel to Bulgaria with the D visa to apply for residency. Biometrics (photo, fingerprints, signature) appointment, pay fee, wait for my Bulgarian visa to arrive and collect my Bulgarian residency card when issued.
Your card confirms complete legal resident rights in Bulgaria. Make sure it’s active and up to date – notify them of any address or other changes.
Family reunification should be done within eight months of the primary application. If you begin on temporary residency, the rule of thumb for switching to permanent is six months per year in the country or 30 months in any 5-year period.
The citizenship route, where open, can take around 5 years.
Strategic Investment Planning
Set clear goals first: long-term growth, steady income, or capital hold. Map these to Bulgaria’s Golden Visa regulations, minimum investment periods and proof of funds. Mitigate risk, return and compliance from the first day and partner with licensed Bulgarian fund managers to develop a practical plan.
Review progress at least bi-annually, rebalance when weights drift and ensure the path remains congruent with your residency timeline.
Risk Assessment
Judge each eligible route on its own risk: Alternative Investment Funds (AIFs), listed company shares, and government bonds. Concentrate on the market’s volatility, order book thickness, and the strength of local regulation. Liquidity is important if you might have to sell quickly.
Some investors prefer fast cash to a better yield. Government bonds generally occupy the safer end, with smaller price fluctuations and more transparent cash flows. AIFs and equities can target growth, but they fluctuate more, so they might be trickier to offload in crunch markets.
Review the fund mandate, manager track record, fees and custody.
Option | Volatility | Liquidity | Oversight | Typical Role |
|---|---|---|---|---|
Government bonds | Low | High (secondary) | Strong, transparent | Capital preservation |
Company shares | Medium–High | Medium–High | Exchange + regulator | Growth, dividend income |
AIFs | Medium–High | Low–Medium | Regulated fund regime | Diversified higher return |
Match these traits to your plan: a five-year hold, compliance proofs, and your drawdown tolerance. Don’t chase yield at the risk of breaches of the programme.
Portfolio Diversification
Mixing assets to diversify risk and soften returns for five years. Bulgarian ETFs for broad exposure, AIFs for specialist themes and property for income and lower volatility. Property rents can patch equity falls, and growth assets such as shares or early exposure may boost longer-term returns.
An all-round portfolio could be aiming for a 6–8% average annual return, although markets can rock higher or lower. Weight them according to your level of risk tolerance and time horizon, then rebalance as they deviate.
Plan quarter or half-year reviews. Follow for market moves, ruling changes and milestone moments. Control fees and keep a record of every trade and every holding.
Exit Strategy
Plan the exit from day one, since the investment cycle is usually five years. Map each pathway: redeem bonds at maturity or sell earlier if spreads are fair; sell fund units per the dealing calendar and notice rules; divest company stakes in blocks to limit price impact; and settle any real estate sale with time for legal checks and tax filings.
Time it out to align with price strength, liquidity windows and Bulgarian Golden Visa regulations, so you don’t breach minimums or reporting. Keep a compliance file: subscription forms, confirmations, bank slips, custody notes, registrar extracts, valuation reports, and tax receipts.
Dates and amounts and counter-parties are all recorded. This file assists with steps for renewal, permanent residence or citizenship. Factor in settlement cycles (T+2 for much equity), withholding taxes, FX transfers back to your home bank.
If growth was your intention, stage exits; if capital preservation is paramount, deploy early switches into shorter-duration bonds (or cash-like instruments) well ahead of the horizon.
Life as a Resident
Bulgarian residence gives you the right to live, work and study anywhere in Europe without restriction, with almost the same rights as citizens (but not to vote). Residents can access the NHS, enroll children in state schools, and use social services. You can reside in Bulgaria or abroad and retain residency, and you can purchase agricultural land with no limits. Their regulations are quite loose.
After five years of permanent residency, you can apply for Bulgarian citizenship.
Residency Obligations
Retain the qualifying investment for the entire five-year period. If the asset morphs, note it down and report updates so the file remains fresh.
Renew your residence card before it runs out … your card is for renewable five-year, ‘on time’ continuity. Track expiration dates and create reminders.
Notify the Migration Directorate of any change of address, civil status or investment within the specified periods. Retain copies of all filings and receipts.
There’s no minimum annual stay for golden visa holders. Remember that the normal route to settlement requires five years of indeterminate residence renewed each year and at least 30 months of physical presence.
Tax Responsibilities
You are a Bulgarian tax resident if you have your center of vital interests in Bulgaria, if you reside in Bulgaria for 183+ days in a tax year, or if you are sent abroad by a Bulgarian employer.
Tax residents pay a 10% flat tax on worldwide income, while non-residents pay Bulgarian tax only on Bulgaria-sourced income. File annual personal income tax returns (generally by 30 April of the previous year) and, where applicable, company tax returns and annual accounts by the deadlines laid down by law.
Pay social security if applicable and register for VAT if thresholds or activities necessitate. Keep clean records: bank statements, broker reports, payroll slips, invoices, and contracts in a clear digital archive for five years or longer, as audits can look back.
Most investors have two advisers – a Bulgarian accountant for local rules and a cross-border tax professional for treaty relief, foreign tax credits and residence tie-breakers. The flat 10% tax rate, easy filing, and wide treaty network frequently reduce effective tax for mobile professionals, entrepreneurs and investors.
Renewing Your Permit
Begin renewal several months before expiry. Make an appointment with the local Migration office, fill out the paperwork and pay the fee.
Take your passport, evidence that you still have the qualifying investment, the residence card itself, recent photos, proof of address and health insurance. Agents might request updated excerpts or bank statements.
Processing is generally easy if you comply with all program rules and keep your records clean. Pick up the new card in person and verify data on the spot.
The Path to EU Citizenship
Bulgaria’s Golden Visa program offers a straightforward passage from residence to EU citizenship for foreign investors. It works for investors seeking predictable, rules-based advancement rather than gamble, starting with a Bulgarian residence permit and leading to a Bulgarian passport after certain milestones.
From permanent residency to citizenship after five years
The Golden Visa provides permanent residency with expedited processing times, unlike many EU pathways that ask for years of prior temporary residence. Once you’ve held permanent residency for five years, you can apply for full Bulgarian citizenship.
Bulgaria had a Citizenship by Investment route that provided a shortcut, but the five-year track is the norm most applicants follow. For these five years, you must hang on to your qualifying investment, be up to date with your tax and legal obligations and keep a clean criminal record.
Family routes can be quicker in practice: spouses are granted citizenship immediately after the investor is granted citizenship, and children of Golden Visa holders can apply without the language exam or giving up their current citizenship.
Documentation and application steps
You send a complete file to the MoJ or through a Bulgarian consulate. These might include a passport, permanent residence card, proof of investment, bank statements with lawful funds, police clearance from all countries of residence, proof of address, tax clearance (if applicable), health insurance and civil records (birth and marriage certificates).
All non-Bulgarian documents require legalisation and certified translation. They must possess an A1/A2 Bulgarian language certificate, in accordance with the EU norm that basic language proficiency be required.
Steps are straightforward: eligibility check and pre-screen; sit the language test; gather and legalise documents; file the application and pay fees; attend biometrics and possible interview; pass security checks; receive the citizenship decree; take the oath; then apply for the Bulgarian ID card and passport.
Benefits of a Bulgarian passport
Bulgarian citizenship entails the unrestricted right to live, work and study in any EU country. It allows for free movement and education and healthcare access across the EU and Schengen Area.
Bulgaria permits dual nationality, which is helpful for people who want to retain their current passport. You acquire the right to set up and operate a business in any EU country and receive consular protection in other EU embassies when Bulgaria has no representation.
For families, the spouse benefit and the child exemptions ease friction and expense.
Processing time and what to expect
Most citizenship applications take 12–18 months from filing to oath. Timings differ depending on security screening, document verification, translation standards and how quickly you book the language test.
A ready-to-go file with current police clearances and clear proof of funds can finish around the 12‑month mark. Files with gaps, absent apostilles or tortuous residence histories can nudge towards 18 months.
Preserve the investment and residency status while the case proceeds. You can generally move around while processing (as long as your residency card and passport are valid).
How Bugarska net can help
Support encompasses everything from first checks through the Bulgarian golden visa program to long-term planning, helping you jump more quickly from interest to status.
Legal due diligence on eligible ETFs and AIFs.
We review eligible Bulgarian exchange traded funds (ETFs) and alternative investment funds (AIFs) with rigorous legal checks. This encompasses fund eligibility (under the CBI route), prospectus review, manager licensing, custody set-up, and risk flags.
We compare fee layers, redemption windows, and track record, building a shortlist to suit your risk appetite and time frame. We could for instance map a low-volatility ETF for a client looking for quicker pre-approval, or an AIF with exit terms outlined for someone with a clear divest plan.
Assistance with the entire application process (pre-approval, investment, visa D, PR card).
We handle timelines and pre-approval files, make the qualifying investment, obtain the visa D and file for your PR (permanenta rezidenta) card. Most obtain PR within six to nine months, before relishing their unfettered right to live, work and study in Europe.
We manage spouse and dependent applications, with spouses qualifying for Bulgarian citizenship immediately after the investor.
Liaison with licensed Bulgarian financial institutions.
We assist with account opening and custody with licensed Bulgarian banks and brokers, including KYC/source-of-funds checks, and facilitate secure transfers. Clients can open bank accounts in the EU and Schengen countries after obtaining a Bulgarian residence permit, which is useful for property investment, tuition fees, or business expenses across borders.
Tax and business structuring for maximum benefit.
We’ll guide you through the routes to becoming a Bulgarian tax resident and match these with your home country’s rules. Bulgaria’s 10% flat tax rate on worldwide income can make planning for salary, dividends and capital gains straightforward.
We established clear records of holding companies, dividend routes, pension flows… For instance, we could put EU rentals through a Bulgarian entity and route dividends to limit leakages and make compliance easy.
Ongoing compliance and residency renewals.
We monitor PR validity, uphold minimum stay rules and submit applications for dependants. We assist children’s citizenship applications without a language test or revocation of existing nationality.
We handle the address registrations, police clearances and fund-holding periods. Once you get citizenship you can purchase property anywhere in the EU and Schengen with no limits.
Advisory on exit strategies if you later decide to divest your investment.
We time exits to coincide with lock-up periods and tax events, and orchestrate sales to safeguard status. We brief on rights that follow citizenship: EU passport, voting in Bulgaria, wider property options, and work rights.
For example, we can time an ETF redemption post-citizenship grant to eliminate reset risks and limit market drag.
Conclusion
Bulgaria provides definite routes to residing, working and establishing a life. The route points suit a lot of plans. Establish a Sofia base for work trips throughout the EU. Put a child into a local school with good maths and language. Set up a small business and employ local talent. Or keep it simple and settle close to a park with convenient metro links. Prices remain reasonable by EU standards. Day to day life is easy for the majority of new arrivals.
To hurry, plan your every move. Examine rules. Maintain Evidence Track dates. Use plain targets at each stage.
Want a reliable guide, not hype? Bugarska net provides straightforward stages, genuine rates and live conditions. For a quick start, contact our team and schedule a brief call.
Frequently Asked Questions
Does Bulgaria offer a Golden Visa?
No, Bulgaria does not operate a classic ‘Golden Visa’ scheme. The previous citizenship-by-investment option was scrapped in 2022. However, the Bulgarian golden visa program remains accessible through other legal avenues, such as employment, business activity, study, family reunion, or highly skilled work (EU Blue Card).
Can I get Bulgarian residence by buying property?
No, a golden visa holder does not secure residency merely by paying the purchase price. A qualifying residence basis, such as employment, business, study, or family grounds, is necessary. Always check eligibility first with a qualified immigration solicitor, as rules and practices can alter.
What are the current investment-based routes to live in Bulgaria?
No easy ties or real-estate “golden” path exist in the Bulgarian golden visa program. Options could comprise establishing a business with genuine activity and local employment, investing in priority investment projects, or acquiring an EU Blue Card for skilled positions. Regulations are rigorous and case-specific, so find licensed legal advice.
How long does it take to qualify for Bulgarian citizenship?
Naturalisation in Bulgaria typically requires long-term residence of around 10 years or 5 years with a Bulgarian residence permit. Applicants must pass a Bulgarian language test and have a clear criminal record, with deadlines varying based on the residence category and compliance record.
Can my family join me in Bulgaria?
Yes, quite often. Spouses and children under 18 can typically apply for a Bulgarian residence permit via family reunification once you have a residence permit and meet residency, income, housing, and insurance requirements. Processing times differ by embassy and case. Consult new Interior Ministry guidelines.
What are the benefits of Bulgarian residence?
With a Bulgarian residence permit, you can reside in an EU member state that offers low living costs and a flat 10% personal income tax. This includes access to excellent public services, education, and business opportunities under the Bulgarian golden visa program.
How can Bugarska net help?
We take you step by step through the Bulgarian golden visa program, covering strategy, eligibility, and paperwork. Working with qualified Bulgarian lawyers, we manage timelines and streamline your route according to objectives and budget, ensuring hands-on assistance from query to residence approval.
Daniel Malbašić is a business expert with extensive experience in the field of business consulting, organization and business optimization. His expertise includes market analysis, strategic planning, and implementation of effective business solutions. Daniel is dedicated to helping companies grow and improve their operations, providing them with comprehensive support in making key business decisions.
