For Indians aspiring to live their "European dream" with a long-term base, Bulgaria has quietly emerged as one of the most attractive new destinations.
Having officially joined the Schengen Area on January 1, 2025, the EU's youngest member is now opening its doors to global investors through its Golden Visa programme. Unlike the earlier Citizenship by Investment scheme, which ended in 2022, this new visa provides direct permanent residency along with a clear pathway to citizenship after five years.
What Is Bulgaria's Golden Visa
Launched in 2023, the Bulgaria Golden Visa allows non-EU nationals, including Indians, to gain permanent residency by investing at least Euro 5,12,000 (around Rs 4.5 crore) in licensed Bulgarian funds.
Bulgaria Golden Visa allows non-EU nationals, including Indians, to gain permanent residenc. Photo: Unsplash
Once granted, you and your family get residency rights immediately, along with visa-free access across the Schengen zone. Citizenship is possible after 5 years, provided you meet the legal requirements.
Why It Matters
For Indian professionals, business families, and high-net-worth individuals, the programme comes with some key advantages:
You don't start with temporary permits, you get permanent residency straight away.
Your spouse, children, parents, and even in-laws can be included in the same application.
You don't need to live in Bulgaria for a minimum number of days each year. This flexibility works well for Indians who prefer to keep India as their main base.
The Golden Visa gives access to 116 countries, including the entire Schengen area.
Bulgaria has one of the lowest personal tax rates in the EU at just 10%.
Applications usually take between 3 to 6 months.
So, Who Is Eligible?
As an Indian applicant, you must:
- Be at least 18 years old
- Hold a valid Indian passport
- Have no criminal record
- Make the qualifying Euro 5,12,000 investment in a Bulgarian fund
- Provide proof of income higher than the investment amount
- Pay the application and processing fees
- Your family members (spouse, children, parents) can be added under the same application.
How Can You Invest That Money
Assuming if you have the money and want to invest 4.5 crores to live in Bulgaria, you can invest the money in two types of funds:
Alternative Investment Funds (AIFs): A safer option where money is invested in multiple Bulgarian assets, offering protection and modest returns.
Exchange-Traded Funds (ETFs): More liquid investments traded on the stock exchange, allowing easier buying and selling.
Note: You cannot mix the two. You must choose either AIFs or ETFs.
The Application Process
To apply for the visa, you need to:
- Step 1: Undergo a pre-approval check (clean criminal record, proof of funds, AML/PEP declarations).
- Step 2: Make the Euro 512,000 investment in an AIF or ETF licensed by the Bulgarian Financial Supervision Commission.
- Step 3: Apply for a D-type visa at the Bulgarian embassy in India.
- Step 4: Travel to Bulgaria to apply for your permanent residence card and complete biometric verification.
The PR card is indefinite but must be renewed every 5 years. After holding the investment for 5 years, you can apply for Bulgarian citizenship.
The Documents You'll Need
- Valid Indian passport
- Police clearance certificate from India (and any other country you've lived in)
- Proof of funds and income source
- Marriage and birth certificates for dependants
- Passport-sized photographs
- CV and supporting financial documents
- Investment certificate from the fund company
Bulgaria's Golden Visa is far more affordable compared to many other EU residency programmes. While Rs 4.5 crore is still a significant investment, the benefits - direct PR, family inclusion, no stay requirement, low taxes, and citizenship after 5 years - make it a strong alternative to Portugal, Spain, or Greece.