Bulgaria Proposes New Physical Presence Rule for Golden Visa Holders

The Bulgarian government has submitted a new bill to the National Assembly that could significantly change the rules for permanent residents. Under the draft legislation, any foreigner holding permanent residence in Bulgaria would be required to spend at least six months and one day (183 days) in the country during each calendar year.

If a permanent resident fails to meet this physical presence requirement, the government would automatically withdraw their residency status.

Prime Minister Rumen Radev signed the transmission letter for the bill, which was registered by the National Assembly under reference 52-602-01-29.

Major Impact on Golden Visa Investors

Currently, the Bulgaria Golden Visa allows foreign investors to gain permanent residence outright by investing BGN 1 million (now converted to €511,292) in approved funds, with no physical presence required. Investors can maintain their status without actually living in the country.

The proposed bill would replace this flexible policy with a strict domestic presence test:

Old Rule: Permanent residents only lose their status if they remain absent from the entire European Union for 12 consecutive months.
Proposed Rule: Permanent residents must be physically present inside Bulgaria for more than six months every calendar year.

The draft text contains no explicit exemptions for investors or for people unable to travel due to emergencies.

Currency Converted to Euros

Following Bulgaria’s official adoption of the euro, the bill formally updates all investment thresholds in the Law on Foreigners into euros at the fixed conversion rate:

Fund Investments: BGN 1 million becomes €511,291.88.
Higher Tier Investments: BGN 2 million becomes €1,022,583.76, and BGN 6 million becomes €3,067,751.29.

The financial requirements remain unchanged in real value; they have simply been restated in euros.

Why Is the Government Making This Change?

In its official explanatory memorandum, the government cited rising application volumes as the reason for the change. Officials stated that stricter controls are needed over foreign nationals who hold permanent residency status.

Unlike other European programs (such as Malta or Cyprus), Bulgaria currently offers immediate permanent residence from day one, no living requirement, and a path to citizenship after five years. This proposed bill aims to tighten control over this specific category of residents.

Important: This Is Still a Bill, Not Final Law

Immigration lawyers emphasize that this proposal is still a draft bill under parliamentary review and has not yet become law:

Legislative Process: The bill must pass through parliamentary committees, a first reading, an amendment phase, and a final second reading. The text may change significantly before it is passed.
No Effective Date: The current draft includes no commencement date or transitional protection (grandfather clause) for existing permit holders.
Broad Impact: The proposal affects not only investors but also spouses of Bulgarian citizens and long-settled foreign residents. This broad impact is expected to generate debate during committee discussions.

Experts advise current permit holders to monitor the parliamentary committee stage closely rather than taking immediate action. However, investors who have already completed five years of residency and are eligible for naturalization may want to submit their citizenship applications promptly.