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5 Things You Should Know About Bulgaria’s Golden Visa

Bulgaria, which is located in Southeast Europe, is another country in the region that grants the Golden Visa. It is a developing country with an economy of upper-middle income. It is currently a member of a number of important international organizations, including the European Union (EU), the United Nations, the North Atlantic Treaty Organization (NATO), and the Council of Europe. Its Golden Visa is thus an opportunity for investors to capitalize on the promise of a burgeoning economy while maximizing their earnings.

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The Bulgarian Golden Visa is a once-in-a-lifetime opportunity. However, you should be aware that its Golden Visa program is more of a residency by investment program, which means you can become a permanent resident through an expedited process if you invest a particular amount of money in the economy. Continue reading the post for a few more minutes to learn more about it. Before applying for the Bulgarian Golden Visa, here are a few things you should know:

Basic Eligibility criteria

To be qualified for the plan, you must meet various requirements, the most essential of which are listed below:

  • You should be a minimum of 18 years old. 
  • You must not be a member of the EU. 
  • It is required to have a clean criminal record, which must be documented with a clearance certificate. The same is true for any family members that accompany you.
  • You must maintain good health and present medical documents to the authorities.
  • You will need to make investments, the sources of which you must provide. Furthermore, you should have sufficient cash to support yourself during your stay in the country.

Investments to be made

The program relies heavily on investment. The scheme allows for only certain types of investments. The applicant must invest a minimum of BGN 1 million in one of the pre-approved investment programs. These programs include publicly traded stocks, private equity funds, venture capital or hedge funds, and real estate management firms. If you invest in any of these sectors, you must keep the money for five years. The cash invested will be refunded to you after the specified time period.

A general overview of the process

The Bulgarian Investment Agency will conduct a background check on you as the first step. This background check will assess whether your investment will be detrimental to the interests of the country. You should make your investment once you have been cleared. It is not necessary for you to be physically present.

Whatever investment you make, you will be awarded an investment certificate, which is required when applying for a visa. Fill out an application for a Type D investor visa at a Bulgarian consulate or embassy. You can enter the nation to apply for permanent residency with this visa. As soon as you arrive, you should apply for a permanent residence card. You will no longer require the Type D investor visa once you get this card.

Documents you will have to submit

You must meticulously create a portfolio with all required documents. These documents must be presented to the appropriate authorities. You must send the application form, certificate of investment, proof of payment of visa fees, passport-size pictures, certified copies of the birth certificate, marriage certificate (if applicable), police certificate, and insurance papers, to mention a few requirements. You will also be required to provide confirmation of sufficient cash to sustain yourself during the residency period.

Benefits of the Golden Visa Scheme 

  • The Bulgarian Golden Visa is a fast-tracked scheme, so you will be able to become the country’s citizen without hassles. 
  • The investment levels are comparatively lower than many European counterparts. 
  • Visa-free access to more than 180 countries. 
  • Freedom of movement within the European Union.
  • No residency requirement for the scheme. 
  • Your funds maintained throughout the five years will be returned to you afterward. 

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