The Bulgaria Golden Visa has now passed another important test

When the Bulgarian Government proposed introducing a physical stay requirement in April 2026, concerns naturally arose among investors. However, the latest draft legislation, together with the official response from the Bulgarian Government, has now confirmed that the proposed physical stay requirement will not apply to Bulgaria Golden Visa investors. Investment-based permanent residence remains a privileged category, preserving the flexibility that international investors expect.

This development further strengthens Bulgaria’s position as one of the most competitive investment residency programs in Europe. While the investment migration industry was speculating about possible restrictions in Bulgaria, the program has continued to deliver what it promised—permanent residence within approximately eight months through a regulated investment fund.

The investment funds qualifying under the Bulgaria Golden Visa Program have also reached a new stage of maturity. Early concerns about the limited size of the market have gradually disappeared as the ecosystem has developed. Bulgaria AIF, managed by Bulgaria Fund Management, a registered alternative investment fund manager headed by Advocate Petar Markov, has grown from approximately BGN 5 million at the beginning of 2026 to more than EUR 5.5 million in assets under management by the end of August 2026 representing growth of more than 100% in 6 months.

At the same time, the fund’s portfolio continues to expand and diversify through investments in an increasing number of Bulgarian listed companies. This steady growth in assets under management, combined with continued portfolio diversification and the successful operation of the investment funds, demonstrates that the Bulgaria Golden Visa is no longer merely an attractive residency program.

Today, investors are not simply choosing between residency programs. They are choosing between investment ecosystems. On that basis, the Bulgaria Golden Visa has established itself as one of the strongest investment residency options currently available in the European Union.