Investor Residence Permit

Bulgaria's Investor Residence Permit allows non-EU nationals to obtain temporary or permanent residence through qualifying capital investments. The program offers multiple investment routes ranging from BGN 250,000 for regional development projects to BGN 6,000,000 for non-traded company shares. The most popular pathway, commonly known as the "Bulgaria Golden Visa," requires an investment of approximately EUR 512,000 (BGN 1,000,000) in a qualifying Bulgarian alternative investment fund and grants direct permanent residence. Bulgaria became a full Schengen member on 1 January 2025, making its investor program increasingly attractive for access to the Schengen zone.

| Route | Investment Required | Residence Type | |---|---|---| | Real estate | BGN 600,000 (~EUR 307,000) | Temporary (1 year, renewable) | | Regional development | BGN 250,000 + 50%+ company ownership + 5 jobs | Temporary, leading to permanent | | Alternative investment fund ("Golden Visa") | BGN 1,000,000 (~EUR 512,000) | Permanent | | Collective investment scheme | BGN 1,000,000 (fund assets >= BGN 5,000,000) | Permanent | | Priority investment project | BGN 2,000,000 | Permanent | | Regulated market securities | BGN 2,000,000 in listed shares/bonds | Permanent | | Concession rights | BGN 1,000,000 | Permanent | | Non-traded company shares | BGN 6,000,000 | Permanent | | Company capital + jobs | BGN 500,000 + 50%+ ownership + BGN 500,000 in assets + 10 jobs | Permanent |

• Must be a third-country national (non-EU/EEA citizen)
• Must meet the investment threshold for the chosen route
• Must pass due diligence and background checks
• Must provide a declaration of the origin of funds
• No nationality restrictions, provided the applicant's bank complies with FATF regulations and the applicant is not on sanctions lists
• For real estate investments, the purchase must be paid in full through a Bulgarian licensed credit institution, with outstanding mortgage not exceeding 25% of property value
• For fund-based investments, the fund must be licensed or registered by Bulgaria's Financial Supervision Commission and invest primarily in Bulgarian assets
• All investment conditions must be maintained for 5 years from the date of granting residence

• Valid passport with at least 6 months remaining validity
• Type D visa with entry stamp
• Proof of accommodation in Bulgaria
• Valid health insurance covering Bulgaria
• Proof of sufficient means of subsistence (bank statement showing at least 6 minimum Bulgarian monthly salaries for the Type D visa)
• Criminal record certificate from country of origin
• Investment certificate from the Ministry of Innovation and Growth
• Declaration of fund origin
• Curriculum vitae
• All documents must be in Bulgarian or translated with apostille/legalization

The application follows a multi-stage procedure:

1. Investment and certification — Make the qualifying investment, obtain preliminary approval from the Bulgarian Investment Agency, and receive an investment certificate from the Ministry of Innovation and Growth (processing time up to 30 days, no fee).

2. Type D Long-Stay Visa — Apply at a Bulgarian embassy or consulate (approximately 30 working days). The visa fee is EUR 100 (or EUR 200 for a 360-day visa).

3. Residence Permit — Upon entry to Bulgaria, apply in person at the Migration Directorate or a regional office. For permanent residence, the decision takes up to 2 months (extendable to 4 months). For temporary residence, processing takes up to 14 days. Biometric data is collected and a residence card is issued within 3 working days of approval.

Fees: Permanent residence permit: BGN 1,000. Temporary residence permit: BGN 500.

Temporary residence permits (real estate route) are issued for 1 year and renewed annually upon verification that investment conditions continue to be met. Permanent residence is unlimited, with the residence card valid for 5 years and renewable. Investments cannot be used to secure loans during the mandatory 5-year holding period.

Spouses and minor children may obtain residence permits through family reunification within approximately 3 months of the primary applicant's approval. Family members of permanent residence holders receive permanent residence status. Required documents for dependants include marriage or birth certificates, proof of financial dependency, and proof of accommodation. Each family member is subject to their own health insurance and background check requirements.

Holding a residence permit does not automatically confer tax residency. An individual becomes a Bulgarian tax resident if they spend 183 or more days per year in Bulgaria, have a permanent address in Bulgaria, or have their centre of vital interests in the country. Bulgarian tax residents are taxed on worldwide income at a flat rate of 10%.

Permanent residence holders may apply for Bulgarian citizenship by naturalization after 5 years of maintaining the investment and holding permanent residence, subject to passing a Bulgarian language exam. The former citizenship-by-investment fast-track programme was abolished in 2022.

The investor residence permit does not grant the right to work as an employee in Bulgaria. Investors may manage their own companies and investments, but separate work authorization is needed for employment.

Permanent residence holders have no minimum physical presence requirement in Bulgaria and may live elsewhere while maintaining their residence status. However, tax residency requires spending 183 or more days per year in the country. For temporary residence holders, extended absences may affect renewal eligibility.