Rising Demand for the Bulgaria Golden Visa
Last Updated on April 26, 2026 by Bulgarian Citizenship Team
Following initial scepticism, the new Bulgarian Golden Visa program is emerging as one of the most attractive options in the EU. Launched at the end of 2024, it offers permanent residency through a fund investment of €512,000—compared to Portugal, where a similar investment leads only to temporary residency.
Portugal continues to be heavily marketed, despite processing delays of 4–5 years to biometrics, additional years to receive the residency card, and an extended citizenship timeline of up to 10 years. In contrast, the Bulgarian program has demonstrated delivery of permanent residency in approximately 8 months.
Bulgaria GV promoted by MultiPolitan and H&P
The Bulgarian Golden Visa is now promoted by major international consultancies such as Multipolitan, Hanley & Partners, and Arton Capital. However, there is no requirement to use intermediaries, allowing investors to apply directly. Those who engage directly with a Bulgarian AIF fund benefit from complementary assistance with the Golden Visa process at no additional cost.
The advisory team behind the Bulgaria AIF includes Andreas Beikos, former President of the European Investment Bank (EIB) for Bulgaria and the Western Balkans, and the renowned trader Laurens Bensdorp, supported by the local expertise of Advocate Markov’s team. This combination ensures an investment approach focused on capital preservation and growth, alongside a seamless path to permanent residency.
Processing Time Improved
While early applicants experienced slightly longer timelines (around 10 months versus the legislated 8 months), current applications—particularly those investing through the Bulgaria AIF Fund—are now being processed within approximately 8 months.
Processing times can be further reduced when investors actively follow the required steps. Close coordination between the Fund and the legal team is essential to avoid delays. It is equally important for applicants to clearly understand from the outset which documents are required, the necessary legalizations, and the validity periods of each document.
In addition to applicant-provided documentation, the legal team prepares a comprehensive set of supporting documents, aligned with the Fund’s internal requirements, to ensure a smooth and efficient application process.
The Bulgarian Golden Visa takes time to gain traction?
The relatively slow uptake of the Bulgarian Golden Visa is largely due to limited marketing. Unlike other jurisdictions, Bulgaria has not actively promoted the program and does not maintain a dedicated government webpage. Instead, the legal basis of the Bulgaria Golden Visa is set out in the Foreigners Act. The Act clearly states that a qualifying investment in an AIF fund leads to permanent residency.
Тhe Bulgaria Program Struggles to Attract Chinese
Bulgaria’s approach is also fundamentally different. The program is designed to deliver genuine economic value rather than attract high volumes of applicants. In contrast to Portugal where closed-ended structures and high intermediary commissions are common, Bulgarian funds are open-ended and structured with a focus on capital allocation, transparency, and long-term impact on the economy.
This model prioritizes sustainable investment and alignment with investor interests, rather than fee-driven promotion, which has contributed to slower but more organic adoption of the program.
This also explains why Bulgaria has yet to attract significant interest from mainland Chinese investors. While China represents a vast market, reaching it effectively requires substantial local marketing efforts, the cost of which can exceed the annual management fees.
As of 31st December 2025, there were no mainland China applicants but only an applicant from Taiwan:
You can find the statistics for 2025 at Bulgaria Golden Visa Statistics 2025 – What’s next for 2026 .