At the end of this month, March 31, 2024, Bulgaria will become part of the Schengen zone starting with lifting controls at air and sea borders. This means that holders of Bulgarian residence will be able to travel to Germany, France, Spain and other countries of the zone without a visa. Members of the European Commission decided that Bulgaria’s inclusion in Schengen would promote the development of trade and tourism. In addition, new conditions for traveling around Europe may return The Bulgarian Residence by Investment program to the Golden Visa map.
Note that Bulgaria joined the EU in 2007 but wasn’t the part of the Schengen zone until 2014. The Schengen area includes 27 countries and extends over an area of more than 4 million square kilometers with a population of almost 420 million people. Together with Romania and Bulgaria, the Schengen area will grow to 4.5 million square kilometers with a population of 450 million people.
Once Bulgaria was famous on the market of immigrational services for HNWI because of its fast-track citizenship by investment. But that option is no longer on the cards, you can only obtain Bulgarian Residence by Investment.
