Portugal
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Portugal
From €500,000 + costs
Private Equity Investment
European Residency
EU Schengen Zone Travel
Apply Citizenship 7-10 years
Bulgaria Golden Visa & Residency by Investment
Bulgaria’s Golden Visa grants permanent residency in an EU and Schengen member state through an investment of €512,000 into an approved Bulgarian fund.
The Program does not provide direct or guaranteed citizenship. Investors may apply for naturalisation after five years of permanent residency, subject to a Bulgarian language exam.
€512,000 Fund Investment + Costs
Full family residency
Schengen and EU travel access
Permanent Residency
Flexible. No requirement to reside.
Bulgarian Permanent Residency Investment
Bulgaria offers permanent residency through an investment of €512,000 into a choice of approved investment funds which must be held for a period of five years.
These funds can be withdrawn.
Qualifying investments are shares in a Bulgarian Alternative Investment Fund (AIF) or a Bulgarian Exchange Traded Fund (ETF).
The €512,000 can be spread across several funds to mitigate risk, but AIF and ETF investments cannot be mixed.
Before any funds are committed, applicants complete a pre-approval procedure with the Bulgarian Investment Agency, demonstrating the origin of their investment funds, a clean background, and that they are not politically exposed persons.
This stage takes eight to ten weeks, so applicants who are not approved have not invested anything.
Bulgarian permanent residency investors may apply for citizenship through standard naturalisation after five years.
This requires passing a Bulgarian language exam or holding a recognised exemption.
The fund must be based in Bulgaria, managed by a Bulgarian fund manager, and invest only in the shares and bonds of Bulgarian companies.
Key Facts
- Investment of €512,000 for permanent residency
- Permanent residency in an EU and Schengen member state
- Route to citizenship by naturalisation after five years
- Choice of approved fund investments
- Full family residency
- Flexible. No requirement to reside
- No language requirement for permanent residency; a language exam applies at the citizenship stage
- Investment can be liquidated after 5 years
The Bulgaria Golden Visa Program may be attractive to those seeking a more sophisticated investment in the financial market as opposed to a real estate investment in one of the other European programs.
Aside from the initial costs, investors can liquidate their investment after five years.
Bulgarian permanent residency investors may apply for citizenship through standard naturalisation after five years. This requires passing a Bulgarian language exam or holding a recognised exemption.
Bulgarian Citizenship and Passport Power
According to the La Vida Passport Value Index, a Bulgarian passport provides access to 209 of the world’s 227 destinations.
This represents 92.1% of worldwide destinations, 73.2% of global GDP and 93.5% of the worldwide visitor market, placing Bulgaria 47th overall in La Vida’s Global Passport Ranking.
Bulgarian citizens also benefit from the right to live, work and study across the European Union.
Bulgaria is a full member of the Schengen Area and adopted the euro in January 2026.
Compare a Bulgarian passport with another passport using La Vida’s free Passport Value Report.
Citizenship and Residency Programs
La Vida offers a selection of residency and citizenship programs throughout Europe and elsewhere. Below are some suggestions as an alternative to Bulgaria
Grenada
Minimum $235,000 Donation
Real Estate Option
Citizenship & Passport
E2 USA Visa Potential
