Bulgaria has launched an attractive Golden Visa program, offering non-EU citizens permanent residency through investment. With a minimum investment of €512,000 in Alternative Investment Funds (AIFs) or Exchange-Traded Funds (ETFs), the program provides a streamlined path to residency, visa-free travel within the Schengen Area, and a competitive processing time of 3-6 months.
Key Takeaways
- Permanent residency by investment.
- Minimum investment of €512,000 in AIFs or ETFs.
- No minimum residency requirement.
- Visa-free access to 116 countries, including the Schengen Area.
- Fast processing time (3-6 months).
- Family reunification is possible.
Understanding the Bulgarian Golden Visa Program
Bulgaria, a recent member of the Schengen Area, has introduced a Golden Visa program designed to attract foreign investors. This initiative grants permanent residency with expedited processing, making it a compelling option compared to other European residency-by-investment schemes. The program requires a qualifying investment of €512,000 in funds licensed by the Bulgarian Financial Supervision Commission.
Benefits of the Bulgarian Golden Visa
Investing in Bulgaria’s Golden Visa program offers numerous advantages:
- Inclusion of family members (spouse, children, parents, and in-laws) in the application.
- No obligation to reside legally in Bulgaria.
- Investments are made in regulated funds, ensuring reliability and security.
- No Bulgarian language proficiency is required for permanent residency.
- Visa-free travel across the Schengen Area.
- Faster processing times than many other EU investor programs.
- Access to a flat 10% tax rate, education, and healthcare services upon obtaining permanent residency.
- Flexibility in transferring investment funds from a home country bank account, provided it complies with FATF regulations.
Eligibility and Investment Options
To be eligible for the Bulgarian Golden Visa, main applicants must be over 18, non-EU citizens, possess a valid passport, have no criminal record, make the qualifying investment, and demonstrate an income source exceeding the investment amount. Family members, including spouses, children, and parents, can be included.
The program exclusively offers fund investment options: Alternative Investment Funds (AIFs) or Exchange-Traded Funds (ETFs). The investment must be at least €512,000 and held for a minimum of five years. Eligible funds must be officially licensed in Bulgaria, manage at least €2.5 million in assets, and primarily invest in Bulgarian companies traded on regulated markets. Real estate-related funds are also permitted.
Application Process and Costs
The application process involves a pre-approval due diligence stage, requiring documents such as ID copies, proof of income, bank reference letters, and a clean criminal record. Following pre-approval, investors make their investment and obtain a certificate. Subsequently, a D-type visa application is submitted to a Bulgarian embassy or consulate, followed by an application for a permanent residence card in Bulgaria, which includes biometric verification.
The primary cost is the minimum investment of €512,000. Additional fees may include performance fees (typically 25% of profit), management fees (around 1% of net value), and legal fees, which vary.
Path to Citizenship
While the Golden Visa program does not offer a direct route to citizenship, investors can apply for Bulgarian citizenship after five years of maintaining their investment and meeting legal requirements. This process may require renouncing one’s original citizenship and passing a Bulgarian language exam (A1/A2 level) or qualifying for an exemption. Children under 14 can become citizens if the main applicant is a Bulgarian citizen with parental consent, while those aged 14-18 require personal application, with a faster processing time of nine months.
Sources
- Bulgaria Golden Visa 2025: Requirements, Application, and Costs, Get Golden Visa.
