Bulgaria Closes Its Golden Visa Program/
Bulgarian Prime Minister Kirill Petkov said that the Golden Visa program, which attracts a large number of foreigners, will be canceled. This is a logical step, as the government has previously announced the suspension and abolition of the program.
One of the reasons for closing the program is the lack of real investment in the country's economy.
According to a report by Euractiv, 96 foreign investors have received Bulgarian Golden Visas. Most of them are Russians, followed by citizens from the Middle East. In order to qualify for the Golden Visa, investors had to invest at least 1,000,000 BGN or 568,000 USD.
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