Bulgaria Golden Visa Misconceptions Solved
Last Updated on January 18, 2026 by Bulgarian Citizenship Team
The statements shown below (screenshots) are taken from a published article discussing the Bulgarian Golden Visa program in 2026. The following commentary addresses and corrects the specific misconceptions presented in that article.
The Bulgarian Golden Visa in 2026 offers open-ended investment funds with no subscription or redemption fees, a fixed annual management fee starting from 1%, and both fixed-income and equity strategies. These funds include complimentary servicing for pre-approval, D visa issuance, and permanent residency processing. Yes, we refer to this route as the “Bulgarian Golden Visa,” because it provides permanent residency, unlike other EU programs that offer only temporary residency options.
In addition, there are no processing delays—the procedure is standardized and applied consistently to every applicant.
The Bulgarian Golden Visa is cheaper, faster, and easier
Bulgaria Golden Visa is cheaper
Investment funds are offering D visa and PR assistance as complementary service. It is not cheap, it is free! Additionally, the Bulgaria Golden Visa program offers real value that few programs can show. This is not an artificially inflated 50m2 flat in Greece for 250 000 EUR that is two hours and half walking distance from the beach. This is not a Portuguese lock-ed in for 5-10 years Investment fund, with nowhere else seen high subscription, withdraw and whatever hidden fees they have (few exceptions apply). Bulgaria provides Permanent residency that has much more added value than mere temporary residency that requires frequent visits and uncertainties if you will renew it.
Bulgaria Golden visa is faster
Bulgaria Golden Visa in 2026 leads to permanent residency in 6 – 8 months while only to get to the biometrics stage in Portugal takes 4 years.
Bulgaria Golden Visa is easier
Bulgaria GV is easier not because the lack of compliance but because it is transparent. All stages of application requires the same set of application documents. All procedures come with a deadline that is strictly followed and not delayed. For example, D visa is processed within 40 business days, PR is considered within 2 months. PR card is issued within a week time after providing biometrics. This is how Bulgaria is easier.
Misconception #1 — Solved: No Citizenship
The author has not done her homework—again. Bulgaria has mutual recognition agreements that regulate the renunciation of a previous nationality. For many nationalities, renunciation is not required at all.
Applicants can rest assured that, where renunciation is required, practical solutions exist. A second, more affordable Caribbean passport may be used as the nationality to be relinquished when acquiring Bulgarian citizenship.
Once Bulgarian citizenship is obtained, individuals are free to apply for other nationalities without restriction.
For clarity, Article 12(2) of the Bulgarian Citizenship Act states that release from previous citizenship is not required for:
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spouses of Bulgarian citizens;
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citizens of EU Member States, EEA states, or the Swiss Confederation;
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citizens of states with which the Republic of Bulgaria has concluded reciprocal agreements.
Misconception #2 — Solved: Language exam
The sources used in this article raise serious concerns, particularly given the implications for clients. Bulgaria requires only A1-level Bulgarian, achievable through a 60-hour online course, and no language requirement existed under the Citizenship by Investment program between 2013 and 2022. Selectively using outdated or irrelevant information to support these claims is misleading and manipulative.
Misconception #3 — Solved: High Charges
Claims of excessively high fees are another misconception. Such charges are typically inflated by international promoters—not by local Bulgarian lawyers, who generally charge reasonable and transparent fees. In many cases, residency processing is provided complimentary by the Bulgarian investment fund in which you invest.
For example, a Bulgarian AIF fund, managed by Bulgaria Fund Management, may organize the entire process including pre-approval, D visa application, permanent residency, and family reunification at no additional cost. By becoming an investor in the fund, you are treated as a partner, and complimentary servicing forms part of that relationship.
Misconception #4 — Solved: No Physical Stay Requirements
Claims that Bulgarian citizenship requires a minimum physical stay are another misconception. The Bulgarian Citizenship Act does not impose any physical residence requirement.
Instead, the core requirements include:
- Bulgarian language proficiency (A1 level)
- A lawful source of income in Bulgaria (which may include income generated from a regulated investment fund)
- A clean criminal record
Residing in Bulgaria solely through social welfare benefits does not lead to Bulgarian citizenship. However, by investing in a government-regulated Bulgarian fund, you actively contribute to the development of Bulgaria’s capital market and support national economic initiatives. These constitute valid legal ties to Bulgaria.
For full transparency, Article 12 of the Bulgarian Citizenship Act is reproduced below.
**Section III
Acquisition of Bulgarian Citizenship by Naturalization**
Article 12. (1) A person who is not a Bulgarian citizen may acquire Bulgarian citizenship if, on the date of submission of the naturalization application, they:
- are of legal age;
- have held permanent or long-term residence in the Republic of Bulgaria for at least five years;
- have not been convicted of an intentional criminal offense of a general nature by a Bulgarian court and are not subject to pending criminal proceedings for such an offense, unless rehabilitated;
- have income or an occupation that enables them to support themselves in the Republic of Bulgaria;
- have knowledge of the Bulgarian language, established in accordance with a procedure determined by the Minister of Education and Science; and
- have been released from their previous citizenship or will be released at the time of acquiring Bulgarian citizenship.
Misconception #4 — Solved: Everything is Cheap in Bulgaria
This is, once again, incorrect. There are no 5- or 10-year locked investments in Bulgaria, as there are in Portugal. If you change your mind, you can withdraw your investment and go elsewhere.
First of all, treating an investment as an expense speaks loudly about the professional background and understanding of the author. Funds generate income. For example, the Bulgaria AIF Fund has already generated a 3.55% increase in net asset value since its inception in June 2025, following a fixed-income strategy.
Second, as already discussed, there are no legal fees, unless you request extraordinary or non-standard services. There are no “red carpets,” and you do not need them.
Bulgaria offers permanent residency by investment, which may later lead to citizenship eligibility. However, in Bulgaria—as in Greece, Portugal, or any other EU Member State—citizenship is not guaranteed. Guarantees are generally forbidden in regulated activities, as in any business. While funds may focus on capital-preservation assets, future income cannot be guaranteed either.
Do doctors guarantee health after treatment? No. We rely on professionalism and expertise. Likewise, investors rely on qualified professionals. Statistically, Bulgaria processed substantially fewer applicants under its CBI program (2013–2021); however, it produced more naturalized citizens than the bulk program of Portugal.
Final thoughts about the Bulgaria Golden Visa program
This is the only partially correct statement made by the poorly informed marketer. As he himself notes, the Bulgarian Golden Visa program is frequently misrepresented—and in this case, he is the one doing so, apparently for monetary benefit.
Our team assists with business residency as lawyers, not as promoters who fail to review Bulgarian legislation or consult qualified legal professionals before publishing misleading information.
Company-based residency is indeed an option, but it leads only to temporary residency (you can upgrade to PR if you reside for 30 months in any 5 years period). Temporary residency must be renewed annually, which introduces significant legislative risk. This risk materialized clearly with the TRO (Trade Representative Office) program, which had been in place since 2013. In 2025, the government introduced minimum turnover requirements, resulting in nearly 90% of TROs being unable to meet the new criteria, forcing many individuals to leave Bulgaria.
Business residency may appear cheaper at the outset, but cheaper options often become more expensive over time. It is not safer, as renewal is never guaranteed—residency categories may be amended or abolished entirely—making such routes far more unpredictable than they are presented to be.