Bulgaria to End Golden Visa Program

The Government of Bulgaria announced plans to end the golden visa program, following issues of misuse and corruption and failure to lead to significant investment in the country. The bill will be submitted to parliament.

The golden visa allowed international individuals who invest at least one million leva (€500,000) to obtain permanent resident status in Bulgaria. Ninety-six internationals have a Bulgarian Golden Visa

The European Commission has previously called on European countries with an investment to residency visa program to terminate them due to the concerns over corruption.