Bulgaria Citizenship by Investment (Abolished)

What the program offered

Bulgaria’s investor citizenship worked in two steps. The investor first got permanent residence by making a qualifying investment of at least BGN 1 million (about €511,292). Government bonds were by far the most popular option, but company capital and other approved investments also qualified. The investor could then apply for citizenship:

• Standard route: after five years of holding investor permanent residence.
• Fast track: after one year of permanent residence, by doubling the investment to BGN 2 million (about €1.02 million). This route did not require a Bulgarian language test.

Few investors used it. Only a few hundred people got citizenship this way, and the government had already removed the bond option in 2021.

Why it was abolished

The European Commission’s January 2019 report on investor citizenship and residence schemes in the EU criticised Bulgaria’s program, and Bulgarian prosecutors investigated irregularities in how citizenships were granted. On 24 March 2022 the National Assembly passed, at second and final reading, amendments to the Bulgarian Citizenship Act that removed citizenship for investment. No MP voted against. The change took effect on 5 April 2022 and ended all pending proceedings under the scheme. The State Agency for National Security was given six months to check whether citizenships granted under the scheme should be revoked.

Can I still get Bulgarian citizenship through investment?

No. Residence by investment remains: the Bulgaria golden visa still gives permanent residence for a qualifying investment, and citizenship can follow through ordinary naturalisation. Bulgaria also keeps discretionary citizenship by merit for people of special merit to the country.

Sources

• European Parliament Research Service – Reassessing citizenship by investment schemes (2022)
• The Sofia Globe – Bulgaria’s Parliament abolishes ‘golden passports’
• Best Citizenships – Bulgaria closes its golden passport program
• Best Citizenships – FAQs on the Bulgaria citizenship program
• Best Citizenships – European Commission reports on investor citizenship