Bulgaria Golden Visa for Chinese Citizens

Citizens of the People’s Republic of China can apply for the Bulgaria Golden Visa by making investments ranging from 312,000 to 512,000 EUR in property or fund investments. The current investment options are as follows:

  • 312,000 EUR for property investments, leading to citizenship in 10 years.
  • 512,000 EUR for Bulgaria Fund Investment, leading to citizenship in 6 years.

Typically, Chinese citizens prefer the Bulgaria Fund Investment as it offers a shorter path to Bulgarian citizenship. This option provides permanent residency within 6-8 months and eligibility for Bulgarian citizenship after maintaining the investment and residency status for 5 years.

Historical Context and Current Interest

Chinese citizens were among the top applicants under the previous Bulgarian citizenship by investment program, which was cancelled in 2021. Unfortunately, many interested applicants started their fast-track program too late to obtain a Bulgarian passport in 18 months because they lodged their applications shortly after the program was cancelled. These applicants are now pursuing ordinary naturalization.

With the relaunch of the Bulgaria Golden Visa program in 2024, Chinese citizens are showing renewed interest. Applying early in the program ensures they can maximize the value of their investment. Compared to Portugal’s overvalued property market, Bulgaria’s property market still has significant growth potential.

Benefits:

  • Low Stay Requirement: Only one day per year is required in Bulgaria, compared to Portugal’s requirement of 7 days per year for the first two years and 14 days in the subsequent periods.
  • Simplified Residency: Only one application for a permanent residency card is needed within 5 years, unlike Portugal’s three renewals within the same period.
  • Easy Language Test: The language test is straightforward and user-friendly.

Due Diligence for Chinese Citizens

The Bulgaria Golden Visa is open to all nationalities, including Chinese citizens. Applicants investing in a Bulgarian Fund must pass a due diligence process with the Bulgarian Investment Agency. Property investors are not required to undergo due diligence. This process takes up to 2.5 months and requires applicants to declare that they are non-politically exposed persons (PEPs), have no criminal offenses (or have been rehabilitated), and demonstrate the origin of their funds and a bank account in a country compliant with Anti-Money Laundering Regulations. Please review the Bulgaria Golden Visa documents.

Bank Account Requirements for Chinese Citizens

Since 2007, the People’s Republic of China has been a member of the Financial Action Task Force (FATF), which acknowledges China’s progress in tackling money laundering and terrorist financing. Bank accounts opened in Mainland China are acceptable for the due diligence process, as they meet the FATF requirements. Applicants can also provide a bank account from any other compliant country.

Documents Legalization in Mainland China

Chinese citizens born in Mainland China must provide a birth certificate issued in Mainland China and legalized with an apostille. In November 2023, Mainland China adopted the Hague Convention on Apostilles, simplifying the document legalization process. Previously, documents required certification by a local notary, Foreign Affairs legalization, and attestation by the Bulgarian embassy in Beijing or the general consulate in Shanghai. The apostille should be applied to the no criminal record, PEP, and origin of funds declarations, as well as a Power of Attorney authorizing our team to assist with the entire process of obtaining a Bulgarian Golden Visa.

If you need help with your Golden Visa application, please contact us for assistance.