Bulgaria Golden Visa Could Face New Residency Rules

The Bulgaria Golden Visa is drawing fresh attention after the government proposed a physical presence requirement that could affect permanent residents. If the proposal becomes law in its current form, permanent residents may need to spend at least six months and one day in Bulgaria during the previous calendar year to maintain their status.

For HNWIs, international business owners and investors, this development deserves careful attention. Bulgaria has attracted interest partly because qualifying investment routes provide access to permanent residence without a current minimum stay requirement.

However, one point remains essential. The proposed physical presence rule is not yet law.

The proposed legislation would introduce a new physical presence test for permanent residents.

Under the proposal, permanent residents who spend less than six months and one day in Bulgaria during the previous calendar year could risk losing their permanent residence status.

The Bulgarian government approved the draft legislation in late July 2026 before its submission to the National Assembly, according to reporting on the proposal.

The potential impact extends beyond investment migration because the rule targets permanent residence more broadly. However, its importance to investors is clear because the proposal does not currently provide a specific exemption for investment-based permanent residents.

This could represent a significant change if lawmakers approve the measure in its present form.

International investors rarely assess a residence program based on one benefit alone.

Capital requirements matter, but experienced investors also consider physical presence obligations, family needs, business commitments, travel freedom and the stability of the legal framework.

A six-month-and-one-day requirement could change the role that Bulgarian residence plays within a global mobility strategy.

For example, a business owner who operates companies across several markets may not want to establish a primary physical base in one jurisdiction. Likewise, an investor with family, business and financial interests spread across different countries may value the ability to maintain residence without spending most of the year there.

This flexibility has helped make residency by investment attractive as a Plan B strategy.

Therefore, any new physical presence obligation deserves careful consideration.

Under the current framework, qualifying non-EU investors can pursue permanent residence through approved investments in Bulgaria.

One established investment route involves approximately €512,000 in qualifying regulated investment structures. Other routes may apply depending on the investment structure and applicant circumstances.

Importantly, the existing investor residence framework does not impose the proposed six-month-and-one-day annual physical presence requirement.

Bulgaria also became a full member of the Schengen Area on January 1, 2025, strengthening its position within Europe. The country then adopted the euro on January 1, 2026.

These developments have increased Bulgaria’s integration with major European economic and mobility systems.

For globally active investors, that wider European positioning forms part of the country’s appeal.

Investors should avoid treating the proposed residency requirement as an existing Bulgaria Golden Visa condition.

The legislation still needs to pass through the required parliamentary process, and lawmakers may amend its wording before any final approval.

This distinction matters.

Investment migration decisions often involve significant capital and long planning periods. Acting on incomplete information can create unnecessary risk, while ignoring a proposed regulatory change can create a different type of exposure.

The better approach involves monitoring official developments and reviewing how different outcomes could affect an existing or planned residence strategy.

Investors should also seek qualified legal advice before making decisions based on pending legislation..

One of the most important questions concerns people who already hold permanent residence.

The proposal, as currently reported, does not provide clear transitional protection specifically for existing investment-based permanent residents.

That uncertainty deserves attention because established investors may have structured their international lives around the current absence of a minimum physical stay requirement.

If lawmakers approve a new requirement, the final legislation will determine its scope, implementation timeline and practical effect.

Until that process concludes, existing residents should not assume that their obligations have already changed.

Instead, they should follow official legislative developments and assess their position with appropriate professional guidance.

Bulgaria’s proposal also reflects a wider development in global mobility.

Governments increasingly expect investment migration programs to demonstrate transparency, compliance and meaningful economic value. Authorities continue to review program rules, strengthen due diligence and adjust requirements as political and economic priorities evolve.

For serious investors, stronger regulation does not automatically make a program less attractive.

Clear rules can improve confidence when governments apply them consistently. Strong compliance standards can also support the credibility and long-term sustainability of investment migration programs.

The key issue is predictability.

Investors need to understand what a program requires today, what could change tomorrow and how those changes could affect family, capital and mobility planning.

Political change, economic uncertainty and evolving mobility rules continue to make international diversification important for HNWIs, business owners and investors. A second residence can provide greater flexibility for business, education, family needs and potential relocation, but an effective Plan B requires careful long-term planning.

Investors considering the Bulgaria Golden Visa should assess both current benefits and possible future requirements. This includes whether spending more than half the year in Bulgaria would be practical if the proposed rule becomes law. Investment structure, family eligibility, source of funds, compliance obligations and long-term residence goals should also form part of the due diligence process.

Clear and predictable regulation can strengthen the credibility of residency programs over time. Rather than focusing only on convenient requirements, investors should consider jurisdictions that provide regulatory stability, sustainable benefits and a strong fit within their wider international strategy.

The Bulgaria Golden Visa remains an important European residency option, and the proposed six-month-and-one-day physical presence requirement has not yet changed the current rules.

However, the proposal highlights the importance of monitoring regulatory developments. Laws and investment migration programs can evolve as governments adjust economic, security and immigration priorities.

Prospective and existing investors should rely on current law and verified developments while considering how potential changes could affect their mobility, business interests and family plans.

For investors evaluating the Bulgaria Golden Visa, professional guidance can help place Bulgaria within a broader strategy involving citizenship by investment, residency by investment, wealth planning and international mobility.

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