Citizenship by Investment

Citizenship by Investment  

Bulgarian law provides a fast-track route to citizenship by investment.

This is an accessible, transparent and respectable gateway into the European society, way of life and economy.

The requirement is to invest, rather than donate to a government fund. The investor expects to get back the principal, together with any return.

A wide range of qualifying investment classes are eligible. You are not limited to real estate; there is no requirement to create a minimum number of jobs.

Investment Classes

An investor may acquire, e.g:

  • shares of mutual funds, including ETFs
  • an AIF (alternative investment fund) such as a VC fund or private equity fund with a Bulgarian-focused strategy
  • an interest in a Certified Priority Investment Project (CPIP)
  • direct investment in corporate bonds of or shares/stocks of a company listed in Bulgaria (in which case a higher investment is required)
  • direct investment in the capital of a private Bulgarian corporation (in which case a higher investment is required)
  • and others.

Investment Amount

Standard Track (investment in a mutual fund/UCITS or AIFs)

  • Investment:~ €500,000
  • Time to citizenship: ~ 6 years
  • Holding period:  ~ 6 years


Family Members

  • Your husband/wife can apply for citizenship, too. Your children and any child of your children in perpetuity can also apply at any time in the future – each of them without further investment.

You do not need to:

  • Live in Bulgaria (but you could);
  • Open a bank account in Bulgaria. You can use your existing banking relationship abroad
  • Donate (you need to donate €150,000 in Cyprus, €650,000 in Malta);
  • Learn to speak the Bulgarian language (you need to speak Spanish in Spain and Portuguese in Portugal);
  • Have your identity as a new citizen disclosed to the public (this happens in Malta and has happened in Cyprus through leaks).


  1. Obtain pre-approval by the Bulgarian Investment Agency
  2. Make the investment
  3. Apply for long-term visa D
  4. Apply for Permanent Residence Status and Permanent Residence ID card
  5. Apply for citizenship after holding the PR permit for 5 years


  • NBLO can advise if your investment is eligible, help with documentation, liaise with government bodies, and assist at each step.
  • We are a law firm with a wealth of experience in nationality law and private clients generally. We deal with applications for citizenship both involving investment and not.
  • To date, we have a 100% success rate in our citizenship by investment work.

Next steps

Please call us on +359 2 950 6239 or +44 20 7183 0262 for more information or contact us via our Contact Form, to request advice or to apply. 

We are available Monday to Friday between 08:00 and 16:00 UTC/GMT and by e-mail [email protected] within 24 hours at all times.

© New Balkans Law Office 2023

The Bulgarian and dual-qualified lawyers of New Balkans Law Office are regulated by the respective Bar of their registration. New Balkans Law Office is a brand name of Legal Services EOOD, a company registered under Bulgarian law. Reg’d No. 202331677. Further details are available here.

© New Balkans Law Office 2023