In previous years, there was a Bulgaria Citizenship by Investment program, which offered a direct route to Bulgarian citizenship. However, the program ended in 2022 since it was stated that most of the applicants gained citizenship by buying government securities or bank deposits, and then quickly withdrew their investments, resulting in “no real investment”.
In 2023, the Bulgaria Golden Visa program was introduced with a minimum qualifying investment of €512,000. Once granted, investors can get directly their permanent residency. Although this program does not offer a direct route to Bulgarian citizenship, investors can apply for citizenship after 5 years if they comply with legal requirements. In this complete guide, we will cover the benefits, requirements, application process, and costs related to the Golden Visa for Bulgaria.
Key Aspects of the Bulgarian Golden Visa in 2025
- To qualify, non-EU citizens must invest €512,000 in one of the following: Alternative Investment Funds (AIFs) or Exchange-Traded Funds (ETFs).
- There is no minimum residency requirement, so you do not have to legally reside in the country to hold your Golden Visa. You can renew your Golden Visa every 5 years as long as you keep your investment.
- Family reunification is also possible. Investors can include their spouse, children, and parents.
- You might be eligible to apply for citizenship after 5 years of holding your investment. The processing time for the application typically takes 3 to 6 months.
- Once you get your Golden Visa, you will have visa-free access to 116 countries, offering you global mobility and flexibility.
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What to Discover in This Guide?
- What is Bulgaria Golden Visa Program in 2025?
- Benefits of Bulgaria Golden Visa
- Eligibility Criteria for the Bulgarian Golden Visa in 2025
- Investment Options: Bulgaria Golden Visa Funds
- Bulgaria Golden Visa Requirements in 2025
- Bulgaria Golden Visa Application: Step-by-Step
- Bulgaria Golden Visa Cost in 2025
- How to Obtain Bulgarian Citizenship by Investment?
- Dual Citizenship in Bulgaria
- Golden Visa Programs Comparison Table for 2025
What is Bulgaria Golden Visa Program in 2025?
Joined the Schengen area on January 1, 2025, and the youngest member of the European Union, Bulgaria, has become an attractive destination for investors who are looking for global mobility. Bulgaria’s Golden Visa program offers investors fast-tracking times, unlike other European Golden Visas.
Within the framework of this program, investors must make a qualifying investment of €512,000 in Bulgaria. The funds must be licensed by the Bulgarian Financial Supervision Commission.
Benefits of Bulgaria Golden Visa
You might be wondering why invest in Bulgaria? Well, several key benefits make the program attractive to many investors:
- Investors can include their spouses, children, parents, and in-laws in their application.
- Once granted, you will not have to reside in Bulgaria legally.
- As all the funds must be licensed by the Bulgarian Financial Supervision Commission, it offers a reliable and secure investment.
- Although the program does not initially offer a path to citizenship, you can get apply for citizenship after 5 years of legal residence.
- You do not have to prove you speak Bulgarian to get permanent residency.
- As a Golden Visa holder, you can enjoy visa-free travel across the Schengen area.
- It offers fast-processing times compared to many RBI programs in the EU.
- If you get a permanent residency status, you will benefit from a flat 10% tax rate, education, and healthcare services.
- Provided that your bank account complies with FATCHA, you do not have to open a Bulgarian bank account. You can directly transfer your investment from your home country’s bank.
Eligibility Criteria for the Bulgarian Golden Visa in 2025
Considering the benefits of the Bulgarian Golden Visa program, you might also question whether you are eligible for it or not.
The Main Applicant
Foreign investors should follow the eligibility criteria below:
- Being over 18 years old
- Being a non-EU citizen,
- Having a valid passport,
- Having no criminal record,
- Making a qualifying investment of €512,000,
- Having an income source greater than the investment amount,
- Paying the necessary application fees,
Family Members
As a main applicant, you can include your family members in your Bulgaria Golden Visa application:
- The spouse
- The children
- Parents
Investment Options: Bulgaria Golden Visa Funds
The investor visa for Bulgaria includes only the fund investment option, either AIF or EFT. Accordingly, you need to invest €512,000 in a fund licensed by Bulgaria’s Financial Supervision Commission and keep it for at least 5 years.
Here, you must invest in a fund complying with the requirements below:
- Must have at least 5,000,000 BGN (about €2.5M) in assets
- Must be officially licensed in Bulgaria
- Must invest mainly in shares or bonds of Bulgarian companies traded on the Bulgarian regulated markets (Bulgarian assets)
Plus, unlike Portugal Golden Visa program, this program permits real estate-related funds.
1. AIF Fund Investment
AIF fund investment, also known as Alternative Investment Funds, requires you to make a €512,000 investment. This is the most preferred route in Bulgaria Investor Visa. Here, investors can invest in one or several AIFs to mitigate the risks.
Considering this, AIF provides investors with a more reliable and balanced investment opportunity as their aim is mainly to protect your capital and gain a modest return. Plus, it is an open-ended fund investment where you can withdraw your investment at any time.
2. ETF Fund Investment
Applicants also go for EFT, Exchange-Traded Funds, which will let them invest in only one or several funds to mitigate their risks. They can normally be bought and sold freely on the stock exchange. Therefore, they are considered liquid investments.
Note that: Investments cannot be diversified to AIFs or ETFs. You either choose to invest in AIFs or ETFs.
Bulgaria Golden Visa Requirements in 2025
Now that you have learned about the benefits, eligibility criteria, and investment options, it is time to move on to the requirements in 2025.
Pre-Approval Process
To keep the program’s reputation, investors are subject to a pre-approval process before investing. This due diligence process also helps foreign investors avoid any rejection. At this process, you must offer the following documentation:
- Copy of your ID
- Documents showing your source of income
- A bank reference letter
- A clean criminal record
- Your CV, showing your background
- Statement on Anti-Money Laundering (AML) Compliance
- Statement on Politically Exposed Person (PEP) Status
Plus, this stage may require a power of attorney.
Required Documents
In your application process for the Bulgaria Golden Visa, you are required to submit the following documents:
- Valid passport
- Police clearance certificate from your home country (issued within the last 2 months)
- Police clearance certificate from your country of permanent residence
- Birth certificate
- Colored passport-size photographs
- Marriage certificate, if applicable
- Proof of income or financial sources
- Proof of a qualifying investment
- Anti-Money Laundering declaration
- Politically Exposed Person declaration
- Power of Attorney
The documents stated above must be legalized.
Bulgaria Golden Visa Application: Step-by-Step
Though the application process requires a lot of paperwork and bureaucracy, it can be streamlined if you know the basic steps.
Step 1: Pre-Approval process
Initially, before making your investment, you will undergo a pre-approval process, as stated above. Through the Bulgarian Investment Agency, you will undergo a due diligence process. This will help you prove:
- Your source of income
- Not a politically exposed person
- Clean criminal record
- Bank account in a FATF-compliant country
Once you get your approval, you can move on to the next step.
Step 2: Get your investment certificate
After you pass due diligence checks, you need to make your investment in Bulgarian AIFs or ETFs. Here, you have to get a certificate of investment from the company where you make your investment.
Note: the process does not require you to be there; you can invest remotely.
Step 3: Make your D-type visa application
At this step, you need to gather your documents and apply for a D-type visa at a Bulgarian embassy or consulate. Within 2-4 weeks, you will receive your visa.
Step 4: Get your permanent residence permit
Upon receiving your D-type visa, you must apply for a permanent residence card. This must be done in Bulgaria to the local Migration office. If you get approval, you must also visit Bulgaria for biometric verification.
After this process, you will receive your permanent residence card within a few weeks. Once you obtain permanent residency, you can start your family reunification process.
Although the duration of the card is indefinite, you have to renew it every 5 years.
Get Golden Visa: How We Can Help You
Get Golden Visa is a comprehensive investment immigration and advisory firm. We offer complete solutions for residence and citizenship by investment programs across multiple countries.
Our team includes experienced legal experts and certified real estate professionals. We assist clients worldwide who are looking for global mobility and flexibility.
Reach out to our knowledgeable team today, and let us guide you through every step of the process, answering all your questions with expertise and care.
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Bulgaria Golden Visa Cost in 2025
Considering the related fees and costs, you can see the Bulgaria Investor Visa costs below in the table.
| Investment Fund and Taxes | |
|---|---|
| Category | Details |
| Minimum Investment | €512,000 |
| Performance Fee | 25% of the profit* |
| Management Fees | 1% of the net value |
| Legal Fees** | Varies |
| Total (approximate without Exit Fees, Management Fee, or Legal Fee taken into account) | €512,000 |
* Varies depending on the fund.
**Varies depending on the legal firm
How to Obtain Bulgarian Citizenship by Investment?
According to the Bulgarian Citizenship Act, if you want Bulgarian citizenship, you need to apply for it after five years of holding your investment. Plus, you need to:
- Pass the Bulgarian language exam (A1/A2)
- or qualify for an exemption
After you meet the requirements, you can obtain citizenship and get your Bulgarian passport.
Eligibility for Children
If you have children under 14 years old, they can become Bulgarian citizens if you are a Bulgarian citizen with parental consent. If your children are between the ages of 14-18, you must apply personally for citizenship. Luckily, the processing time for applicants under 18 is fast, taking only 9 months.
Plus, your children do not need to be in Bulgaria physically or take the Bulgarian language test.
Dual Citizenship in Bulgaria
Dual citizenship can be important for many investors, as they may not want to lose their nationality in their country of origin while getting a Bulgarian citizenship. So, does the Bulgarian government allow dual citizenship?
The answer to this question is “yes”. However, you must check your home country too. For instance, native born citizens, citizens of the EU, EEA, and Switzerland can get dual citizenship
Golden Visa Programs Comparison Table for 2025
| Features | Italy | Portugal | Greece | Bulgaria |
|---|---|---|---|---|
| Minimum Investment | 250,000€ (start-up) | 500,000€ (fund) | 250,000€ (real estate) | €512,000 (Fund Investment) |
| Pre-Approval | Yes (Nulla Osta) | No | No | Yes |
| Processing Time | 3-4 months | 8-12 months | 6-9 months | 3-6 months |
| Minimum Residency | No | 7 days per year | No | No |
| Citizenship | 10 years | 5 years | 7 years | 5 years |
| Family Inclusion | Yes | Yes | Yes | Yes |
FAQs on Bulgarian Citizenship by Investment Program
Can I invest in any Investment Fund managed by a Bulgaria Fund Management company?
Yes, you can as long as it qualifies under the Golden Visa program requirements. Not every fund is eligible, so you need to choose from the authorized ones.
How long does it take to get Bulgarian citizenship?
The process for getting a Bulgarian citizenship by investment can take 5 years. During this process, you need to keep your investment.
Can I retire in Bulgaria as an American?
Yes, you can retire in Bulgaria. However, if your stay exceeds 90 days, you can apply for a temporary residence visa. You can also consider applying for a Bulgarian Golden Visa with a minimum fund investment of €512,000, granting you a 5-year residence with an option to obtain Bulgarian citizenship.
How long can I stay in Bulgaria without a visa as a US citizen?
American citizens can stay in Bulgaria for 90 days without a visa. Nevertheless, if your stay exceeds 90 days, you must apply for a residence visa.
How hard is it for an American to move to Bulgaria?
The difficulty of moving to Bulgaria as an American depends on your life expectancy. You can start by figuring out which residency option you will take. Then, you can decide on which city to move to or how to relocate your stuff. Generally speaking, this process will take at most 3-6 months. When it comes to culture and life, you will be faced with welcoming locals and a low cost of living, which will make your relocation process much easier.
Where do most expats live in Bulgaria?
Sophia, Plovdiv, and Varna are the places where expats generally live. These cities stand out with a high quality of living, historical landscapes, and a laid-back lifestyle.
Can I get residency in Bulgaria if I buy a house?
Yes, you can get temporary residency in Bulgaria if you purchase a property, which is worth at least €305,900. However, the process is not straightforward. First, you need to buy your property and apply for a D-type visa. Then, you need to apply for a temporary residence permit at the Migration Department of the Ministry of Interior.
