One of the most alluring new destinations for Indians seeking to live the "European dream" permanently is Bulgaria, which has gained popularity recently. The newest member of the European Union is welcoming international investors through its Golden Visa program after formally joining the Schengen Area on January 1, 2025. The previous Citizenship by Investment program came to an end in 2022, but this new visa provides immediate permanent residency and a direct path to citizenship after five years. This is a wonderful development in terms of the Schengen visas for Indians.
Schengen Visa for Indians- what is the Bulgarian Gold Visa?
With an investment of at least 5,12,000 Euros (about Rs 4.5 crore) in approved Bulgarian funds, non-EU persons, including Indians, can get permanent residency under the Bulgarian Golden Visa, which was launched in 2023.
How to apply for a Schengen visa from India?
Due to the program's infancy, there is a limited selection of investment choices at the moment. However, there are funds that are designed to invest in regions that have a lot of growth potential but still have a reasonable level of risk. In 2025, the Bulgarian stock market hit new heights, albeit it was still far lower than its 2008 peak. Equity investing is not a priority for the Fund due to its inherent volatility. Instead, the Fund concentrates on the bond market, where the yields on MREL bonds issued by banks range from 7% to 4.25% for state-owned companies. The Bulgaria AIF Fund is designed to provide stable and attractive returns with controlled risk. It does this through a diversified bond portfolio and targeted exposure to government-subsidised healthcare projects, like rehabilitation facilities and elderly care homes. This structure is ideal for Golden Visa investors.
Schengen countries' visa from India—advantages
Notable benefits of the plan are available to Indian professionals, business families, and ultra-wealthy individuals. Permanent residency is granted immediately, and interim permits are not required initially. You can add your in-laws, children, parents, and spouse to a single application. You are not required to maintain a specific annual residence in Bulgaria. For Indians who would rather maintain India as their primary base, this flexibility is ideal.The entire Schengen area, along with 116 more countries, is accessible with the Golden Visa. With a rate of only 10%, Bulgaria boasts one of the EU's most favourable personal tax climates.
Requirements for a Schengen visa from India
If you're applying from India, you need to:
- Must be 18 or older
- Make sure your Indian passport is up-to-date
- Refrain from engaging in any unlawful activity
- Invest the minimum amount of 5,12,000 Euros in a Bulgarian fund.
- Justify your investment with income that exceeds it.
- All processing and application fees must be paid.
- You can add your parents, spouse, and children to the same application.
Important updates for the Schengen visa for Indians
- Applications for citizenship that were submitted before the modifications to the Act were all cancelled, including the bond investment. Citizens of Bulgaria can still apply for permanent resident status if they meet certain requirements. A Bulgarian language test, or an exemption, is required of these candidates. The Bulgarian Golden Visa program is now an option for investors.
- New investment alternatives leading to Bulgarian citizenship include Exchange Traded Funds (ETFs) and Alternative Investment Funds (AIFs). The fast-track citizenship option, which required a doubling of the initial investment, has been scrapped.
- You can no longer fund your investment in any way; for example, you cannot utilise the investment to get a loan, even a partial one.
- A spouse can apply for Bulgarian citizenship three years after their investor's citizenship is obtained, which is a shorter process. The previous Citizenship Act was two years longer; this one is two years shorter.
- Lawmakers have also ordered a reduction in processing times. How strictly these are enforced is something that needs to be seen in action.
- Applicants for Bulgarian citizenship who are children of Bulgarian citizens can apply for this status without having to renounce their current citizenship or pass a language test. At this time, there is no cost to apply for Bulgarian citizenship through origin.
Apply Schengen visa from India
- First, you must complete a pre-approval check, which requires a clean criminal background, evidence of finances, and AML/PEP statements. Only then may you apply for the visa.
- The second step is to invest the 512,000 euros in a Bulgarian Financial Supervision Commission-licensed AIF or ETF.
- The third step is to visit the Bulgarian embassy in India to apply for a D-type visa.
- Fourth, arrange to visit Bulgaria so you can apply for a permanent resident card and finish the biometric verification process. Your PR card is valid for life, but you'll need to renew it every five years. Citizenship in Bulgaria can be applied for after five years of retaining the investment.