In 2025 it is not possible to directly obtain Bulgarian citizenship for investment. The state program of “golden passports” was suspended in March 2022 after the Council of Ministers signed the relevant bill. It was replaced by the procedure of accelerated naturalization for those who are ready to invest in the economy of the country from one million local leva, that is about 500 thousand EUR at the current exchange rate. Also, the country still grants residence permits for investments in certain areas of interest to the state.

Until 2022, within the framework of Bulgaria’s program of citizenship for investments it was possible to obtain a passport of the EU country in at least 24 months after the beginning of the procedure. Now it takes from 5 to 10 years from the moment of moving to the state with a temporary or permanent resident card. What the waiting period depends on, where you can invest and what are the alternatives for quick and easy registration of the status of EU citizen, we tell you in the article.

What are the benefits of investing in the Bulgarian economy?

Citizenship for investment in the Republic of Bulgaria is attractive due to such advantages as:

• no need to be employed or to run a business in the country in order to move for long-term residence;
• the right to obtain a passport in an accelerated procedure – in 5 years instead of the ten years required for regular naturalization;
• guaranteed family immigration immediately after acquiring a residence permit, which is not possible with all types of residence permits;
• the prospect of multiplying the invested capital and the final exit to net profit at the end of the program;
• the opportunity to independently choose a suitable investment option from a large number of possible options;
• the right to invest, including in the purchase of real estate, which is not the case in every EU country.

Citizenship for investment in Bulgaria also has a number of disadvantages. To participate in the program, you need to invest at least 128 000 EUR for residence permit or 511 000 EUR for permanent residence. The state does not provide a payback guarantee, so there is a risk of incurring losses. Also, the passport is not granted immediately: you will have to wait for it for at least 5 years, which you need to reside in the country permanently. Investment does not simplify naturalization: the participants of the program must have no criminal record, pass a test for knowledge of the Bulgarian language and renounce their current citizenship in their home country.

Bulgaria has a simpler and faster program of citizenship registration in just 4-12 months. You do not have to live in the country before or after obtaining a passport, invest significant amount in the economy and learn a foreign language. You can learn more at a free consultation with Relocation Compass immigration specialist.

Conditions for obtaining a Bulgarian passport through investment

The right to obtain investment citizenship is regulated by the Law “For aliens in the Republic of Bulgaria”, Articles 24 and 25. The legal act allows for the issuance of a residence permit in the country for direct investments in the economy, purchase of various shares and securities, sponsorship of economically disadvantaged regions. The law also mentions the right to obtain a residence permit without prior residence with a residence permit for those who are ready to invest from half a million to 3 000 000 EUR. At the same time, the legislation does not provide for simplified naturalization conditions for key investors.

For comparison, under the previous program it was possible to obtain a “golden” Bulgarian passport for investments in an average of 24 months. The procedure was enshrined in the Citizenship Act, but became void in 2022. The minimum amount of investment was 511,000 EUR.

Required documents

To obtain a residence permit or a permanent residence permit in Bulgaria for investment, you have to prepare:

• a visa application form with brief information about yourself;
• a valid passport for traveling abroad with photocopies;
• the latest passport-size color photo;
• a certificate of no criminal record in your home country;
• EU medical insurance policy;
• proof of financial security for living in the country (e.g., income certificate or bank statement);
• receipt of payment of the administrative fee;
• proof of a place to live in the country (real estate lease agreement or housing ownership document).

To the general dossier you attach proof of your investment in the Bulgarian economy. For example, it can be a proof of ownership of real estate in the country, a certificate from the Ministry of Innovation and Growth, shares or bonds of commercial companies. You will also need:

• civil status certificates (birth, marriage or divorce);
• information from the tax service about your declared income for the previous year;
• a certificate confirming that no criminal proceedings have been initiated against you;
• a medical certificate confirming that you do not have any acute infectious diseases;
• a document from the relevant foreign authorities stating that you have renounced your previous citizenship;
• a receipt of the state fee for the consideration of the request;
• a personally completed application for citizenship and a CV;
• certificate of knowledge of the Bulgarian language issued by the Ministry of Education and Science or a notarized copy of a diploma/certificate obtained in Bulgaria.

Main investment options

Bulgaria supports foreigners wishing to invest in the economy and offers several investment programs to choose from.

Development of economically disadvantaged regions

The Law on Encouragement of Investments allows foreigners to obtain a residence permit in Bulgaria on condition of investing from 250 thousand BGN (about 128 thousand EUR) in economically disadvantaged regions defined by the state. It is necessary to be a partner or co-owner of a local company (to buy 50% of its shares) and acquire the above amount of any assets, as well as to create at least five jobs for citizens of the country and keep them throughout the time of residence in the republic.

Purchase of real estate

You will receive a residence permit in Bulgaria with the right to naturalization if you buy real estate in the republic for the amount of 600 000 BGN (about 128 000 EUR). The purchase can be made from a private individual or through a local company in which you own at least half of the share capital. You can buy real estate mainly with personal funds: the credit is not more than a quarter of the total value of the object.

Rights under concession contracts

In order to obtain permanent residence status, it is required to purchase from the state for a certain period of time any objects worth from one million leva (approx. 511 thousand EUR) for subsequent restoration/reconstruction and profit making. As a rule, such objects are real estate or roads.

Securities of investment organizations

In order to obtain a residence permit in Bulgaria, you must purchase shares of collective investment schemes or equity shares of companies operating under the Act on the Activities of Collective Investment Schemes for an amount of EUR 511,000 or more. It is necessary that the total assets of the company amounted to at least 2 557 000 EUR and the organization has a license from the Financial Supervision Commission.

For a similar amount it is possible to buy securities or units of other investment funds, which are registered directly in Bulgaria and also operate in accordance with the above-mentioned law. The total assets of the organization must be at least EUR 1,534,000, the company itself must focus on the domestic market and must be approved by the Financial Supervision Commission.

Bulgarian companies

You can invest a minimum of 1,022,000 EUR in a commercial organization that is registered in Bulgaria and on this basis obtain a permanent residence permit. The investment must be made in the name of the company of the priority investment project, subject to the Investment Promotion Act and with the approval of the Ministry of Innovation and Growth.

You can also buy for a similar amount shares or bonds of other Bulgarian commercial companies traded on a regulated market or in the multilateral trading system of the Republic. If you want to invest in organizations that are not subject to state supervision, the required minimum amount increases to EUR 3,070,000.

Requirements for the participant of the investment program in Bulgaria

In order to obtain first a residence permit and eventually Bulgarian citizenship through investment, you need to:

• have a registered place to stay in the country (e.g., rented or own home);
• have a health insurance policy;
• prove the existence of means of subsistence in the amount not lower than the minimum wage in the country (about 500 EUR per month);
• have no criminal record in the country or abroad;
• undergo a medical examination to make sure that there are no diseases dangerous for the population;
• learn Bulgarian language to a level sufficient for fluent communication;
• renounce your current

Even large investments in the economy do not simplify the list of requirements for naturalization in Bulgaria, although they reduce the waiting period to 5 years instead of 10. At the same time, the country has a more affordable, faster and simpler citizenship program, which does not require you to reside with a residence permit/permanent residence permit and language skills, and allows you to keep your passport in your home country. Relocation Compass international law experts will help you to choose the best way to obtain EU citizenship.

Procedure for obtaining Bulgarian citizenship for investment

In order to obtain citizenship for investment in Bulgaria, you will need to:

1. Choose a suitable investment scheme.
   You should compare the conditions of different programs (the amount of investment, profitability in the long term, the received migration document), choose the best one for yourself and invest the funds, then collect all the necessary documents.
2. Open a national investor visa.
   It is necessary to make an appointment at the Bulgarian diplomatic mission in your home country, submit the visa application file, pay the administrative fee and undergo an interview. If approved, you will be granted a national entry permit with a validity period of 6 to 12 months.
3. Move in and obtain a resident card.
   With the national visa you immigrate to Bulgaria and apply for residence permit or permanent residence permit, depending on the situation, at the nearest Migration Service office. If you will be living with a residence permit, you will need to keep the basis for renewal (i.e., do not withdraw your investment) and re-issue the document for 5 years until you receive a permanent resident card.
4. Fulfill the conditions for citizenship.
   You must live in Bulgaria for at least five years with a permanent residence permit before applying for a passport. You will need to pass a medical commission, collect the necessary documents, learn the national language, and then make an appointment at the Ministry of Justice through the electronic queue.
5. Apply for citizenship status.
   On the appointed day, you need to visit the authorized body, fill out the application, submit the documents and have an interview with the authority. Your request will be registered and reviewed, and if approved, a Citizen Status Order will be published.
6. Issue national documents.
   As a Bulgarian citizen you can apply for an internal ID-card and a passport for traveling abroad according to the European Union sample. You will need to apply in person at the territorial office of the Ministry of Internal Affairs in your place of residence in the country.

Risks and limitations

Bulgaria’s economy is only beginning to strengthen and is largely dependent on other EU donors, so investment here cannot be called a guaranteed return. Holders of a residence permit cannot withdraw the invested funds until they receive a residence permit, otherwise there is a risk of revocation of residency. The investment programs themselves are quite complex, requiring lengthy bureaucratic procedures and the approval of several specialized bodies. Not everyone is able to pass a security check and prove the legality of the invested funds according to the strict criteria of the European Union.

At the same time, it is not certain that you will eventually receive the required citizenship: for example, if the selected investment program will be withdrawn at the time of your residence with residence permit, naturalization will be impossible. The application may be rejected even after its registration, if the investor is recognized as persona non grata in view of his current citizenship or other nuances. This can be avoided by cooperating with international law specialists, who thoroughly know all the peculiarities of procedures for obtaining a passport in the European Union and recommend only guaranteed ways of obtaining citizenship.

Comparison with other EU countries

As of 2025, there is no direct passport issuance for investments in any EU country. The fastest naturalization conditions are offered by Malta: on the island you can obtain citizenship in 12 months after moving to the island on condition of direct investment in the economy from 750 thousand EUR and purchase of real estate for another 700 000 EUR (or its lease for a period of 5 years with a monthly payment to the rentier from 16 000 EUR). If the investment is reduced to 600 000 EUR, you will have to wait the passport for 3 years.

Similar to the Bulgarian program of accelerated naturalization operates in Romania. Here you can invest in the economy from 1 million EUR and get a passport twice as fast as usual – in 4 years after moving instead of 8. But you will have to pass a language proficiency exam and an integration test. You can also get a permanent residence permit in Cyprus if you are ready to invest 300 000 EUR in the country. The document is indefinite, but is canceled if you leave the island for more than 2 years. Naturalization in this case takes from 5 years from the moment of moving.

In other EU countries there is no investment citizenship, but you can get “golden visas”. They are used for moving to the country and subsequent registration of residence permit in the general order – after 5-10 years from the moment of immigration. Usually funds can be invested in opening a company, charitable donations, development of economically backward regions or purchase of real estate. The minimum investment amount is:

• 250 000 EUR in Italy;
• 500 000 EUR in Spain;
• 250 000 EUR in Portugal;
• 1 000 000 EUR in Estonia;
• 300 000 EUR in France.

European Union countries are gradually reducing or removing simplified investment programs with immigration intentions. For example, in 2024 Portugal suspended the issuance of residence permits through the purchase of real estate, and its example has promised to follow Spain. “Golden visas” are now not issued in the Netherlands, and Latvia, for example, opens them with a restriction on the citizenship of the applicant.

How to obtain Bulgarian citizenship without investment

It is possible to obtain citizenship in Bulgaria by naturalization without large investments in the economy. For this purpose, it is necessary to open a residence permit of immigration type, for example, for work, study, business, reunification with family members or for humanitarian reasons. To obtain a passport in this case will take from 10 years, five of which must be spent in the country with a residence permit. During the entire period you will have to live in Bulgaria continuously, leaving for no more than six months in a row without a valid reason.

As an alternative to investment, you can apply for Bulgarian citizenship by repatriation. The republic has one of the simplest programs in the European Union. If you prove that you have at least one relative in your family who was or is Bulgarian by origin, you will be able to obtain a local passport without additional requirements.

You will not have to learn the national language, comply with the period of residence in the country, participate in tedious bureaucratic procedures. Repatriation also allows you to retain your second citizenship in your home country, unlike naturalization.

Why is it worth to obtain a Bulgarian passport?

As a Bulgarian citizen you can:

• travel freely without entry permits to more than 160 countries and open multi-visas to popular countries such as the USA;
• reside in any of the European Union countries without having to look for reasons to open a residence permit and without time restrictions;
• invite family members to live together and obtain European documents for them (for children under 18 – also citizenship);
• to work in the EU countries under the same conditions as native residents, with the prospect of receiving a salary from 3000-4000 EUR per month;
• represent the interests of your company at the global level, including the Single Market of Europe with free movement of goods and services;
• pay mandatory contributions at optimal rates, e.g., corporate tax of 10% of profits;
• enjoy general civil rights such as protection of personal interests at home and abroad or social benefits;
• have access to the services of reliable European banks, education at prestigious universities on favorable terms and free services in modern medical clinics.

How to simplify obtaining a Bulgarian passport

According to immigrants’ feedback, the independent registration of citizenship in Bulgaria is a long, painstaking and not always successful procedure. This important task can be delegated to specialists in international law, who understand all the nuances of the program. The specialized lawyers conduct a comprehensive analysis and recommend to each client an individual plan of action depending on his request, plans and subtle aspects of the dossier.

The step-by-step support of specialists increases the chances of obtaining a Bulgarian passport. The Relocation Compass lawyers themselves perform most of the tasks, including collecting the documents and submitting them by power of attorney to the Ministry of Justice without your presence. To learn more about the available options for obtaining a second citizenship in the EU, it is worth signing up for a free consultation.