Bulgaria Golden Visa preferred over Portugal

Why the Bulgaria Golden Visa is Preferred Over the Portugal Golden Visa

The Bulgaria Golden Visa offers significant advantages over the Portugal Golden Visa, making it the preferred choice for investors. It is possible that the high commissions paid by real estate developers and fund managers to promoters of the Portugal Golden Visa program overshadow the benefits of the Bulgarian Golden Visa program.

Indefinite Permanent Residency in Bulgaria

Bulgaria provides indefinite permanent residency status, accompanied by a residency card valid for 5 years, whereas Portugal only offers temporary residency. This key distinction makes the Bulgaria Golden Visa program significantly more appealing. With permanent residency in Bulgaria, you gain additional privileges such as the right to vote in municipal elections and the ability to enroll your children in schools and universities at local tuition rates.

No Annual Visits Required

Maintaining your Bulgarian permanent residency does not require annual visits for you or your family members. This policy provides stability and convenience, as there are no ongoing renewals or compliance checks needed once permanent residency is granted. The flexibility extends to family members included in the residency, ensuring that the entire family enjoys the same level of ease and security without the need for frequent trips to Bulgaria to maintain their status.

Frequent Renewals and Compliance in Portugal

In contrast, the Portugal Golden Visa program requires multiple renewals of the residency cards. The first residency card is valid for 2 years, during which you have to spend at least 7 days in Portugal in the first year and then 14 days during each subsequent two-year period. You need to renew your residence permit three times within a 5-year period, each time requiring the resubmission of up-to-date documentation (e.g., criminal records), biometrics, and paying the necessary application processing fee. This frequent renewal process hides risks of denials. If any legal issues arise, such as being sentenced during the 2-year period, you may be unable to renew your Golden Visa.

Cost Comparison of Golden Visa Programs

Additionally, the Portugal program is offered at approximately 15,000 EUR for the main applicant and 5,000 EUR for each family member, making it quite expensive compared to Bulgaria’s program, where you can handle your entire family’s application within a service fee of 15,000 EUR, including all state and related fees.

Investment Value in Bulgaria vs. Portugal

The Portugal Golden Visa program restricts investments in real estate through funds, whereas the Bulgaria Golden Visa program allows real estate investments, offering greater flexibility for investors. Bulgaria’s property market shows strong potential for continued growth, driven by significant developments such as the country’s accession to the Schengen zone in April 2024 and the anticipated conversion of the Bulgarian lev to the euro in 2025.

Moreover, Bulgaria’s competitive edge lies in its status as the country with the lowest taxation in Europe, positioning it as an attractive hub for manufacturing and business investments. This robust economic growth, fueled by natural market dynamics rather than artificially low interest rates, creates a stable and promising investment environment.

Superior Value with Bulgaria Golden Visa

While the Portugal Golden Visa program may appear attractive, the Bulgaria Golden Visa program offers a simpler, more stable, and cost-effective solution for investors. The lower service fees, fewer renewals, and indefinite permanent residency status make Bulgaria a superior choice for those seeking long-term residency benefits. Additionally, permanent residency holders can apply for Bulgarian citizenship upon reaching an A2 level of proficiency in the Bulgarian language.