Under the Foreigners in the Republic of Bulgaria Act (FRBA), non-EU citizens can obtain a prolonged residence permit (VNZh) by investing in real estate. The financial threshold in 2026 is strictly set at 600,000 Bulgarian leva, equivalent to 306,776 euros. The residence status is issued for one year and is subject to annual renewal. After five years of holding the assets and legally residing in the country, a foreign citizen acquires the right to apply for permanent residence (PMZh).
Investment structure and property requirements
The legislation permits reaching the required investment minimum by purchasing one or multiple properties. Both residential and commercial premises are eligible. The properties must be acquired using personal funds; mortgage financing is not allowed for this migration program. For foreign retirees purchasing real estate below the 306,000 euro limit, the "Financially Independent Retiree" program is available, which has no minimum property value requirement. The Bulgarian Resales database provides listings that have passed legal due diligence for transactions involving foreign buyers.
Market options: new developments and existing properties
The real estate market in 2026 offers two main directions for structuring a portfolio. Purchasing properties directly from a developer during the excavation or active construction phases in cities like Sofia, Plovdiv, and Varna reduces the initial price per square meter by 15–20% compared to completed buildings. This route requires waiting for the building's commissioning (Act 16) before finalizing the residency application procedure.
Fully completed resale property allows the investor to apply for a Type D immigration visa immediately after receiving the Title Deed. Properties on the secondary market are typically sold fully finished, furnished, and equipped with appliances, eliminating additional renovation costs before moving in.
Liquidity of the coastal zone
The highest volume of foreign transactions is recorded in the Burgas and Varna regions. Acquiring property near the sea gives the owner the option to lease the apartments on a short-term basis from May to October. Resorts such as Sunny Beach, Sveti Vlas, and Nessebar maintain stable rental yields ranging from 4% to 6% annually, effectively covering maintenance fees and municipal taxes.
