Investor Residency

Overview

The Bulgaria Golden Visa, also known as Permanent Residency by Investment, allows non-EU nationals to obtain Bulgarian permanent residency through an investment of EUR 512,000 into a qualifying investment fund. Permanent residency is granted within 8 months, subject to the completion of all legal and administrative procedures.

Our team manages every stage of the process — from selecting the most appropriate investment structure and preparing the application to representing you before the Bulgarian authorities until permanent residency is granted.

Who is this programme for?

The Bulgaria Golden Visa is particularly suitable for:

• Entrepreneurs seeking an EU base without immediately relocating
• Families wishing to secure long-term access to Europe for education and future opportunities
• Investors looking to diversify part of their wealth into the European Union
• International professionals requiring EU residency for banking, business or travel purposes

Why clients choose us

Submitting an application is only one part of the process. The real value lies in structuring your investment and residency strategy in a way that minimises unnecessary costs, avoids delays and ensures long-term success.

The Bulgaria Golden Visa is a genuine investment programme. Rather than paying a government donation, your capital of EUR 512,000 remains invested and is expected to generate an annual return of approximately 5%, depending on market conditions and the selected investment fund.

Our assistance includes:

• Passing the pre-approval stage hassle-free
• Selecting the most suitable qualifying investment
• Structuring the investment and subscription process
• Preparation and submission of the complete application
• Communication with all Bulgarian authorities
• D visa application assistance
• Airport transfers and transportation during your stay in Bulgaria
• Hotel recommendations and travel planning
• Tax and family planning advice
• Permanent residency application and biometric appointment
• Collection of the residence permit
• Ongoing compliance and residency support

What if my children are over 18?

Children over the age of 18 cannot obtain Bulgarian permanent residency as dependants under the Bulgaria Golden Visa programme.

However, once a parent acquires Bulgarian citizenship, adult children are eligible to apply for Bulgarian citizenship by origin.

There are also alternative residency options for adult children prior to citizenship eligibility. Depending on their circumstances, they may qualify through:

• a Bulgarian student visa and residence permit; or
• an EU Blue Card based on employment in Bulgaria

The EU Blue Card route is often attractive where the investor establishes a Bulgarian company and employs family members in genuine positions. We assess each family's circumstances individually to determine the most appropriate long-term strategy.

The investment

For most investors, the safety of their capital is just as important as obtaining permanent residency.

Bulgaria has been a member of the European Union since 2007, joined the Schengen Area in 2024, and adopted the euro in January 2026. These milestones have strengthened financial supervision, banking stability and investor confidence.

The qualifying investment is made into a regulated Bulgarian investment fund. Investment funds are managed by regulated fund managers licensed by the Bulgarian Financial Supervision Commission. Obtaining such a licence requires significant regulatory scrutiny, professional expertise and ongoing compliance.

Investment expectations

Bulgaria should not be viewed as a market offering speculative investment returns.

Instead, the Bulgaria Golden Visa is designed around capital preservation, predictable returns and long-term stability. Unlike some other residency-by-investment programmes, Bulgaria does not require investors to commit capital before passing the government's pre-approval and due diligence process.

The objective is straightforward: preserve capital, generate reasonable annual income and qualify for permanent residency.

Investment options

Several qualifying investment funds are available.

The majority of our clients choose Bulgaria AIF Fund, which follows a conservative investment strategy focused primarily on capital preservation.

Although alternative investment funds are often associated with higher investment risk, Bulgaria AIF adopts a markedly different approach. More than half of the portfolio is invested in fixed-income securities, primarily corporate bonds issued by companies listed on the Bulgarian Stock Exchange (BSE) and BEAM market. In addition, the Fund maintains a significant cash reserve to ensure liquidity and facilitate investor redemptions.

Some investors question the lower returns resulting from holding a substantial cash position. Others consider this a major advantage, as it reduces investment risk and improves liquidity.

Alternative investment options also exist. For example, Expat Capital follows the SOFIX Index and invests predominantly in shares of large Bulgarian listed companies. While equity investing offers greater growth potential, it is generally more volatile than a bond-based strategy. Investors should therefore choose the investment approach that best reflects their own risk tolerance and objectives.

Our advice

Our experience dates back to Bulgaria's previous Citizenship by Investment Programme (2013–2022).

One lesson stands out clearly: applicants who acted promptly completed the programme successfully, while many who delayed their decision eventually lost the opportunity when the legislation changed.

The Bulgaria Golden Visa should not be viewed as a high-return investment. If your sole objective is maximising investment returns, global equity markets may offer higher long-term performance.

However, if your objective is to preserve capital while obtaining permanent residency in an EU Member State — with a pathway to Bulgarian citizenship after maintaining permanent residency for five years — the programme offers a compelling balance between investment security and immigration benefits.

The investment return should therefore be viewed as an additional benefit rather than the primary reason for participating in the programme. The principal value lies in securing long-term residency rights within the European Union while preserving your capital in a regulated investment environment.