The EU's two cheapest countries both charge a flat 10% on capital gains and offer full foreign property ownership. With rock-bottom real estate prices and growing economies, both present compelling value for expat investors. Here's how they compare on every metric that matters.

Disclaimer: Tax rates, investment rules, and visa programs change frequently. The data below is for informational purposes only — always verify with official sources and consult qualified professionals. Read full disclaimer

Investment Overview

Metric	🇧🇬 Bulgaria	🇷🇴 Romania
Capital Gains Tax	10%	10%
Property Access	Foreigners OK	Foreigners OK
Investment Visa	None specific	None specific
Monthly Budget	from €600	from €1,000
Crypto Regulation	Evolving	Evolving

Capital Gains Tax

🇧🇬 Bulgaria

10%

Capital Gains Tax

🇷🇴 Romania

10%

Capital Gains Tax

Property Investment

🇧🇬 Bulgaria

Foreigners OK

Freehold ownership

🇷🇴 Romania

Foreigners OK

Freehold ownership

Investment Visa Programs

🇧🇬 Bulgaria

None specific

🇷🇴 Romania

None specific

Key Investment Insights

🇧🇬 Bulgaria

Capital gains tax: 10% — relatively competitive compared to high-tax Western countries
Foreigners can buy freehold property — same ownership rights as citizens in most cases
Local stock exchange: Bulgarian SE — access to domestic equities, bonds, and ETFs
Capital gains tax: 10%

Full investing guide

🇷🇴 Romania

Capital gains tax: 10% — relatively competitive compared to high-tax Western countries
Foreigners can buy freehold property — same ownership rights as citizens in most cases
Local stock exchange: Bucharest SE — access to domestic equities, bonds, and ETFs
Capital gains tax: 10%

Full investing guide

Bulgaria vs Romania Investing — FAQ

Which has lower capital gains tax — Bulgaria or Romania?

Both countries have comparable capital gains tax rates: Bulgaria at 10% and Romania at 10%.

Can foreigners buy property in Bulgaria and Romania?

In Bulgaria, property access for foreigners is: Foreigners OK (Freehold ownership). In Romania: Foreigners OK (Freehold ownership). Always use a local lawyer for property transactions.

Does Bulgaria or Romania have a golden visa program?

Bulgaria: None specific. Romania: None specific. Golden visa programs can change frequently — verify current requirements before committing capital.

Which is cheaper for expats — Bulgaria or Romania?

Bulgaria is more affordable with an estimated monthly budget of from €600, compared to from €1,000 in Romania.

Which is better for crypto investors — Bulgaria or Romania?

Crypto regulation in Bulgaria: Evolving. In Romania: Evolving. Capital gains tax (which typically applies to crypto) is 10% in Bulgaria and 10% in Romania. Crypto-specific rules are evolving rapidly in both jurisdictions.

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🇧🇬 Bulgaria Investing Guide 🇷🇴 Romania Investing Guide All comparisons