Bulgaria is a Balkan nation with diverse terrain, encompassing a coastline along the Black Sea, a mountainous interior, and many rivers. It is located in southeastern Europe, bordering Romania, Serbia, the Republic of Macedonia, Greece, and Turkey.

Bulgaria is part of the European Union, but not part of the Eurozone.

Program Overview

The Bulgarian Citizenship Investor Program presents an enticing prospect for affluent individuals and foreign investors, granting them the privilege of visa-free entry or visa-on-arrival access to 157 nations and regions, along with the opportunity to secure Bulgarian citizenship for their family members, among numerous other advantages.


The requisite investment sum has remained unaltered. To attain permanent residency, investors in AIFs or ETFs are obligated to commit 512,000 EUR and uphold their investment for a duration of 5 years before they become eligible to apply for Bulgarian citizenship. Regrettably, the accelerated citizenship option, involving doubling the investment amount, was rescinded as a result of the Citizenship Act amendments that were passed in 2022.

Program Benefits
Months to Residency from
Min Investment Amount (€)
Years to Citizenship (from)*
  • There is no obligation to establish an account with a Bulgarian bank or brokerage firm in order to purchase Bulgarian AIFs or ETFs. You can deposit your investment directly into the selected ETF and AIF accounts entirely through remote means.
  • EU citizens may also apply for Bulgarian citizenship through investment, provided they hold a passport from a non-EU member country. Optimal choices include citizenship from Dominica or St. Lucia.
  • Children under the age of 18 who are born to investors granted Bulgarian citizenship automatically acquire Bulgarian citizenship as well.
  • You will easily meet the criteria for Bulgarian Tax Residency.
  • You have the flexibility to sell your ETFs and AIFs and access liquid investments in money market instruments such as stocks and bonds at any time.
  • There are no restrictions on your ability to purchase agricultural land in Bulgaria.
  • You will enjoy free movement, access to education, and healthcare within the EU.
  • You will possess a Bulgarian passport, which is also an EU passport.
  • You will have the freedom to purchase properties throughout the entire EU and Schengen zone without encountering any limitations.
  • You can establish bank accounts in any EU and Schengen countries without encountering obstacles.
  • Citizens have visa-free access to approximately 157 countries and territories, including Canada and Europe.
  • There are no restrictions on nationalities (all foreign nationalities may apply).
  • Bulgaria allows dual/multiple citizenship.
  • There is no age restriction, language requirement, in-country residency requirement, education requirement, or management/business experience requirement.
  • Bulgaria has one of the lowest tax rates in the European Union, and boasts a free-trade environment.
Program Qualifications

There are certain conditions to be met in order to qualify for the program, aside from investing the basic amount:

  • You are a non-EU citizen.
  • You have no criminal record.
  • You have the required funds to make and maintain your investment.
  • You are in good health.
  • Investment amount: 512,500 EUR in Bulgarian AIFs or ETFs, or stocks of Bulgarian companies traded on the Bulgarian Stock Exchange.
  • Investment duration: 5 years.
  • Applicant age: 18 years or older.
  • Clean criminal record: Applicants must have a clean criminal record in all countries where they have resided in the past 10 years.
  • Good health: Applicants must be in good health and have no contagious diseases.
  • Proof of funds: Applicants must provide proof that they have the required investment amount available in their bank account.
  • Declaration of origin of funds: Applicants must provide a declaration of the origin of their investment funds.
  • Declaration regarding public figure status: Applicants must declare whether or not they are a public figure.
  • Applicants may also include their spouse and children under the age of 18 in their application.
  • The applicant must possess a valid passport and reside legally in a country.
Investment Options

The investment options for Bulgaria Program are following:

Bulgarian AIFs (Alternative Investment Funds): AIFs are investment funds that are not subject to the same regulatory requirements as traditional mutual funds. They can invest in a wide range of assets, including stocks, bonds, real estate, and commodities.

Bulgarian ETFs (Exchange Traded Funds): ETFs are investment baskets that track a specific index or market sector. They are traded on stock exchanges like stocks and can be bought and sold throughout the day.

Stocks of Bulgarian companies traded on the Bulgarian Stock Exchange: Applicants can invest in stocks of any Bulgarian company that is listed on the Bulgarian Stock Exchange.

  • Supplemental Offering

After the principal applicant obtains citizenship, descendants (children, grandchildren, and adopted children) can immediately apply for citizenship, however, the spouse requires a 5-year waiting period following their PR approval. Once the principal applicant obtains citizenship, the spouse and all dependents can follow the principal applicant to any country in Europe and easily obtain residence there.

FAQs about Bulgaria & The Citizenship by Investment Program
  • How long does the application process take? 

The application process typically takes 6-12 months.

  • What is the success rate of the Bulgarian Citizenship Investor Program? 

The success rate of the program is high, but it is important to meet all of the requirements and to submit a complete and accurate application.

Investment FAQs

  • What are the investment options for the Bulgarian Citizenship Investor Program? 

The investment options are:

Bulgarian AIFs (Alternative Investment Funds)

Bulgarian ETFs (Exchange Traded Funds)

Stocks of Bulgarian companies traded on the Bulgarian Stock Exchange

What is the minimum investment amount? The minimum investment amount is 512,500 EUR.

  • How long do I have to hold my investment? 

You must hold your investment for 5 years.

  • Can I finance my investment? 

Yes, you can finance your investment. However, you must provide evidence of the source of funds.

  •  Do I need to speak Bulgarian to apply for the program? 

No, you do not need to speak Bulgarian to apply for the program.

  • Do I need to live in Bulgaria to apply for the program? 

No, you do not need to live in Bulgaria to apply for the program. However, you will need to visit Bulgaria to attend the interview and to obtain your permanent residency permit and citizenship certificate.

  • Can my family members apply for citizenship? 

Yes, your spouse and children under the age of 18 can apply for citizenship as a result of your citizenship.

Make Bulgaria your second home 

Visa-Free Countries


GDP (per capita)
GDP (purchasing power parity)

110,993.6 km2
Euro €
agriculture, tourism


  • Right to live, work, and study anywhere in European Union
  • No restrictions on nationalitie
  • Dual/multiple citizenship is allowed

Compare the different programs in a nutshell and discover their features


Check the cost estimates for each offered program


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The materials contained in this page are provided for general information purposes only and are not intended to provide legal or other professional advice. Processing times and costs will vary depending on a number of factors. CitizenMatch is not responsible for any changes to the time and cost estimates; we can provide specific information on an individual basis. All rights reserved.

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