Bulgaria Golden Visa 2025: Requirements, Application, and Costs Guide

(BULGARIA) The Bulgaria Golden Visa offers a clear route to permanent residency by investment for non-EU families who want an EU foothold without moving right away. As of August 21, 2025, the program requires a minimum investment of €512,000 (about BGN 1 million) in government-regulated funds or other qualifying investments. It remains one of the few EU options that grants permanent residency from the start, sets no minimum stay, and allows a pathway to citizenship after 5 years of holding residency, with dual citizenship allowed.

According to analysis by VisaVerge.com, steady interest through 2025 reflects the program’s speed, flexibility, and straightforward rules compared with other European options.

Program at a Glance: What You Get and What It Costs

• Who can apply: Non-EU citizens aged 18 or older.
• Investment requirement: At least €512,000, kept for 5 years.
• Investment choices: Government-regulated Alternative Investment Funds (AIFs), real estate, or a business venture/trade representative office.
• Residency status: Permanent residency from day one; no physical presence rule.
• Timeline: About 6 to 8 months from first document checks to the residency card.
• Family members: Spouse, children, and parents can join after the main applicant gets permanent residency.
• Citizenship: Possible after 5 years of permanent residency; processing typically 12–18 months; Bulgaria permits dual citizenship.

Required documents include a valid passport, recent police clearance certificates (issued within the last two months), birth and marriage certificates (if applicable), proof of income and source of funds, Anti-Money Laundering (AML) and Politically Exposed Person (PEP) declarations, a bank reference letter, a CV, a brief background statement, and a power of attorney if a representative will act on your behalf. Expect a strict pre-approval review focused on AML, PEP status, and source-of-funds checks.

End-to-End Timeline: The Six Stages

Most investors can complete the process in 6 to 8 months. Below is the step-by-step journey, estimated durations, applicant actions, and what Bulgarian authorities will do.

Stage 1: Pre-Approval and Due Diligence (About 10 weeks)

What you do:
– Gather civil documents: passport, birth/marriage certificates.
– Obtain police clearance from your home country and country of residence; ensure both are issued within the last 2 months.
– Prepare financial paperwork: bank reference letter, proof of income, and clear source-of-funds trail for the €512,000 (salaries, business profits, asset sales, dividends, inheritances).
– Complete AML and PEP declarations and provide your CV and background statement.
– If using a lawyer/advisor, sign a power of attorney.

What the authorities do:
– Run background checks and AML screening.
– Review source-of-funds documentation.

What to expect:
– You may be asked for additional evidence—respond quickly to avoid delays.
– Approval at this stage is a green light to invest but not residency approval.

Common pitfalls:
– Police certificates older than 2 months.
– Gaps in source-of-funds records (missing sale contracts or tax returns).
– Inconsistent personal history across CV, bank letters, and declarations.

Stage 2: Execute the Investment (2–4 weeks)

What you do:
– Choose the qualifying investment route: a Bulgarian-regulated AIF, real estate, or a business/trade representative office.
– Transfer €512,000 into the chosen vehicle or otherwise meet the investment threshold.
– Keep full records of the transfer (bank statements, confirmations, SWIFT messages).

What the authorities do:
– Verify the investment meets program rules.

What to expect:
– Work closely with your legal advisor to confirm compliance before wiring funds.
– The investment must be held for at least 5 years to preserve residency.

Notes on choice:
– Many investors prefer a government-regulated fund for clearer compliance.
– Real estate and business routes can require more documents and longer checks.

Stage 3: Investment Certificate from the Bulgarian Investment Agency (About 2 weeks)

What you do:
– Submit proof of the completed investment.

What the authorities do:
– The Bulgarian Investment Agency issues an official certificate confirming a qualifying investment.

What to expect:
– This certificate is essential for visa and residency applications.
– Delays usually stem from missing transaction details or incomplete fund paperwork.

Stage 4: Apply for a Type D Long-Stay Visa (Up to 2 months)

What you do:
– Book an appointment at a Bulgarian embassy/consulate in your country of residence.
– File the Type D visa application with passport, police certificates, civil records, source-of-funds evidence, and the investment certificate.
– Attend a brief interview if requested and give biometrics if required.

What the authorities do:
– Embassy/consulate reviews the file and coordinates with Bulgarian authorities.
– They issue the long-stay visa (Type D) if checks are satisfied.

What to expect:
– Processing can take several weeks. Avoid booking non-refundable travel until the visa is issued.
– Family members will apply after your permanent residency is granted.

Official guidance:
– For general long-stay visa information: https://mfa.bg/en/consular-services/visas

Stage 5: Apply for Permanent Residency in Bulgaria (3–4 months)

What you do:
– Travel to Bulgaria on the Type D visa.
– File the permanent residency application with the Immigration Department of the Ministry of Interior.
– Provide core documents again, plus the investment certificate and any updated documents (e.g., renewed police certificates).

What the authorities do:
– Review the case, verify the investment certificate, and confirm due diligence.
– Approve permanent residency and prepare the residency card.

What to expect:
– Bulgaria grants permanent residency from day one of approval; there is no minimum stay requirement to keep it.
– Processing typically takes 3–4 months; extra checks can add time.
– Keep contact details current for biometric or pick-up notices.

Stage 6: Biometrics and Residency Card (1–2 weeks)

What you do:
– Attend a biometrics visit for fingerprints/photos.
– Pick up your permanent residency card once ready.

What the authorities do:
– Record biometrics and issue the card.

What to expect:
– Many applicants receive the card within 1–2 weeks after biometrics.

Bringing Family Members After Your Approval

Once the main applicant has permanent residency, spouse, children, and parents can apply to join. Plan for:

• Passports, birth/marriage certificates, and recent police certificates (adults).
• Proof of relationship (long-form birth certificates for children).
• Timing: Family applications start after your approval and follow consular steps similar to the Type D visa stage.
• Children turning 18 during the process should file as soon as possible to avoid aging out.

Tip: Keep a shared folder with updated police certificates and translations for each family member to speed later steps.

Costs and Ongoing Duties

• Investment: Minimum €512,000.
• Program fees: Due diligence, visa application, and residency card fees vary by service provider and consulate.
• Professional and admin costs: Legal advice, document legalization, sworn translations, courier, travel for consular visits and biometrics.
• Maintenance: Keep the qualifying investment for 5 years to retain your status.

Note: The program isn’t widely publicized in detail. Fees, timelines, and advisor packages can differ—ask for itemized quotes so you know what each fee covers.

Citizenship After Five Years: How It Works

If you keep permanent residency for 5 years and maintain the investment, you may apply for citizenship. The citizenship process usually takes 12–18 months. Bulgaria allows dual citizenship, so you do not need to give up your current nationality.

From first steps to a Bulgarian passport, plan on about 6.5 to 7 years. A Bulgarian passport grants full EU rights: living, working, and traveling across the EU. Many investors view this as a long-term plan for their children’s education and careers.

Recent Updates and What They Mean for You (2024–2025)

• Authorities report steady activity through 2025, with new filings in spring months.
• The Bulgarian Investment Agency continues to regulate and oversee AIFs used in the program.
• The program was recognized in the IMC Yearbook 2025 as a leading European investment migration option.
• No increases to the €512,000 threshold or extra residency rules have been announced.
• AML/PEP checks remain strict; files with unclear source-of-funds trails face delays.
• Bulgaria’s flat 10% corporate and personal income tax rates add to investor interest, especially for entrepreneurs.

Practical Tips to Keep Your Case on Track

Document strategy:
– Order police certificates late in Stage 1 to keep within the 2-month freshness rule for later steps.
– Keep scanned copies and certified translations of civil records ready for embassy use.
– Prepare a clear map of your funds: when/how they were earned, where money is held, and transfer details. Simple tables and labeled bank statements help.

Investment timing:
– Do not transfer the €512,000 until your advisor confirms the structure is compliant and ready for the Investment Agency certificate.
– Keep all bank receipts and SWIFT messages.

Communication:
– Respond quickly to authority requests; short delays can push approvals by weeks.
– Share one contact email for the family to avoid missed messages.

Family planning:
– Build a “family pack” of records (passports, long-form birth certificates, marriage certificate, police checks) for relatives to apply after your approval.
– For older parents, check appointment availability early—some consulates have limited slots.

What Can Go Wrong—and How to Avoid It

• Outdated police clearances: Re-apply as needed to stay within the 2-month window.
• Gaps in source-of-funds: Add contracts, tax returns, dividend vouchers, and sale deeds to document each step of the funds trail.
• Investment not aligned with rules: Verify your chosen fund or project qualifies under the latest guidance before transferring money.
• Translation issues: Use sworn translators and include apostilles or legalizations where required.
• Travel missteps: Wait for visa issuance before booking flights to Bulgaria; biometrics must be done in person.

Who Benefits Most from This Route

• Global professionals who want EU security without moving immediately, due to no minimum stay.
• Business owners planning an EU base while keeping operations elsewhere.
• Families seeking a stable EU path to citizenship in 6.5–7 years without giving up their current passport.
• Investors comparing EU options who prefer permanent residency by investment from the start.

What Authorities Expect from You

• A clean legal record and full cooperation with AML and PEP screening.
• Clear, consistent paperwork showing where the €512,000 comes from.
• Patience with checks at each stage, especially during pre-approval and permanent residency review.
• Commitment to maintain the qualifying investment for 5 years.

Where to Get Official Help and Updates

For long-stay visa guidance and embassy steps, consult Bulgaria’s Ministry of Foreign Affairs: https://mfa.bg/en/consular-services/visas

The Bulgarian Investment Agency regulates qualifying funds and issues investment confirmation. The Ministry of Interior’s Immigration Department handles permanent residency decisions and card issuance. Legal advisors in Bulgaria can coordinate steps, prepare filings, and keep documents current.

Putting It All Together: A Sample Timeline

• Weeks 1–10: Pre-approval and due diligence. Assemble documents; advisor and authorities review AML/PEP and source-of-funds.
• Weeks 11–14: Execute the investment and transfer €512,000 to the compliant vehicle.
• Weeks 15–16: Receive the Investment Agency certificate confirming a qualifying investment.
• Weeks 17–24: Apply for and receive the Type D long-stay visa at a Bulgarian embassy/consulate.
• Months 6–8: Arrive in Bulgaria, file for permanent residency, attend biometrics, and pick up the residency card after approval.

From there, hold the investment and permanent residency for 5 years, then apply for citizenship (allow 12–18 months for processing).

Key takeaway: The Bulgaria Golden Visa is a direct, measured route for families who want EU access with minimal disruption. Keep documents fresh, maintain a clear funds trail, and ensure your investment aligns with program rules to help the process move quickly and secure a strong status from day one.