Following the cancellation of Bulgaria’s bond program, the government introduced the Bulgaria Golden Visa. Unlike the bond program, which included a fast-track option for non-EU citizens to acquire Bulgarian citizenship through investment within two years, the Golden Visa offers a more transparent, structured, and predictable pathway for investors.

The new Golden Visa program grants indefinite permanent residency in exchange for an investment of 512,000 EUR in a Bulgarian Fund. Investors can choose between Alternative Investment Funds (AIFs) or Exchange Traded Funds (ETFs), but must select one type and invest in one or several funds of the same type.

Before investing, applicants must undergo due diligence conducted by the Bulgarian Investment Agency. This stage involves verifying the origin of the funds and confirming that the applicant is not a politically exposed person. Successfully demonstrating these criteria effectively clears the pre-approval stage. Although this procedure is administrative, the Investment Agency aims to process it within 2.5 months.

After passing due diligence, investors can select a fund aligned with their risk tolerance and investment goals. We recommend choosing a fund specifically registered for the Golden Visa program, as these funds are designed to protect your investment and offer a guaranteed buy-back option not available with traditional funds. These funds are also more adept at producing the necessary documentation for the Investment Agency since they serve exclusively Golden Visa investors.

Once the investment is made, the next step is to apply for a D visa through the Bulgarian embassy in your home country. This process takes a few months, after which you can apply for permanent residency at the local Migration Office in Bulgaria. Processing times for permanent residency are also a few months, during which you can initiate family reunification for your spouse, children under 21, and parents.

Eligibility for Bulgarian citizenship requires holding permanent residency for five years and passing a language test, although exemptions from the Bulgarian language test are available.