Bulgaria Golden Visa for Russian Citizens

From Fast-Track Citizenship to the Golden Visa Program

Eligibility Note: Russian citizens are eligible to apply for the Bulgaria Golden Visa program provided they are not listed on the European Union’s sanctions list.

Reflecting on the past, Russian citizens have greatly benefited from Bulgaria’s fast-track citizenship by investment program, which ran from 2013 to 2021. This program offered Bulgarian citizenship within 18 months for an investment of 1,024,000 EUR in government bonds. Additionally, there was a financed option allowing investors to pay 300,000 EUR to a financial consultant to leverage the total investment to one million EUR.

After a two-and-a-half-year gap, the Bulgarian government revamped the program in November 2023, introducing the Bulgaria Golden Visa program. This new program continues to offer attractive investment opportunities for foreign investors, providing a streamlined path to residency and eventual citizenship.

Bulgaria Golden Visa for Russian Citizens

Russian families and investors can apply for the Bulgaria Golden Visa if they are not on the EU Commission’s sanctions list. The first Russian investor obtained a Bulgarian Golden Visa through an investment in a Bulgarian Fund in June 2024. The current investment options start from 312,000 EUR to 512,000 EUR.

• 312,000 EUR for property investors (leading to citizenship in 10 years)
• 512,000 EUR for Bulgaria Fund Investment (leading to citizenship in 6 years)

Bulgaria Golden Visa Fund Investment for Russian Citizens

Russian citizens can obtain Bulgaria infinitive Permanent residency through investments in approved Bulgarian funds. The program requires a minimum investment of 512,000 EUR in government-approved investment funds. These funds include alternative investment funds (AIFs), exchange-traded funds (ETFs), private equity, venture capital, or hedge funds. The investment has to be maintained throughout the period to qualify for Bulgarian citizenship. This pathway offers a balanced investment strategy with high buy-back guarantees, making it a secure and attractive option for Russian investors.

Due Diligence

The key improvement now is the introduction of a due diligence process at the very beginning. This ensures that you know whether you meet the requirements before making any investment, preventing the waste of time and money if the government denies your application. To make the process fairer and more transparent, our team will assist you with the due diligence at no service fee. Please review the Bulgaria Golden Visa documents.

Documents Legalization in Russia

Russian citizens born in the Russian Federation must provide a birth certificate issued in the Russian Federation without the need for further legalization. A bilateral legal agreement between Bulgaria and the Russian Federation eliminates the requirement for the legalization of government-issued documents for use in either country. Consequently, no legalization is required for the no criminal record, PEP, and origin of funds declarations, or for a Power of Attorney authorizing our team to assist with the entire process of obtaining a Bulgarian Golden Visa.

Benefits:

• Low Stay Requirement: Only one day per year is required in Bulgaria, compared to Portugal’s requirement of 7 days per year for the first two years and 14 days in the subsequent periods.
• Simplified Residency: Only one application for a permanent residency card is needed within 5 years, unlike Portugal’s three renewals within the same period.
• Easy Language Test: The language test is straightforward and user-friendly.

Bulgaria Golden Visa Real Estate Investment for Russian Citizens

Russian citizens have historically been prominent property investors in Bulgaria, particularly in seaside areas around Burgas and Varna. Their investments date back to 2005-2007, a period when the Bulgaria Golden Visa program by property investment had not yet been established. The program was launched almost a decade later in 2013, setting a required investment amount of 312,000 EUR, which has remained unchanged since then.

Over the past decade, property values in Bulgaria have appreciated. As a result, Russian investors who did not meet the investment criteria back in 2013 might now find their properties satisfy the current requirements, making them eligible for the Golden Visa program today. This appreciation in property value presents a new opportunity for these early investors to take advantage of the Golden Visa benefits.

The real-estate investment option requires a minimum investment of 260,000 – 312,000 EUR in property. This investment grants a residency card that leads to permanent residency after five years, without the need for physical residency in Bulgaria. Property investors are not required to spend 30 months in any 5-year period to transition from temporary to permanent residency.