OPENING A BANK ACCOUNT IN BULGARIA

How to open a bank account in Bulgaria for Ukrainian refugees?

The first and perhaps the main task of relocation or business migration to Bulgaria is to open a bank account, as Bulgaria, like all other EU countries, works in almost all cases on non-cash payments.

Bulgaria is one of the leaders in the immigration business for Ukrainians and foreigners.

Bulgaria provides an opportunity to open accounts in a simplified manner.

Also, in Bulgaria you can open an account online, you must submit a permit and a copy of the passport.

Opening a bank account in Bulgaria: procedure and benefits for Ukrainians

In Bulgaria you can open an account in any currency, you can open an account remotely

Also among the advantages:

• This is a stable banking system
• Storage of funds in a European bank
• Ability to receive social benefits
• Opportunity to receive a salary on these accounts in the case of official employment
• Use the card to make transfers
• Replenishment from the card, other bank accounts
• Use of internet – backing

What documents are required to open a bank account by an individual?

• Application for opening a bank account
• Identity documents (it can be either an id card or it can be a passport)
• Documents confirming the address of residence
• Power of attorney if opening an account in Bulgaria helps a non-resident helps an intermediary, without personal presence

What documents are required to open a bank account by a legal entity?

There are two companies – it is an existing registered company in Bulgaria – to open an account for such a company requires the following documents:

• Documents proving the identity of the beneficiary of the account
• Copies of the company’s constituent documents
• Documents confirming the existence of an officially registered legal address in the company
• If there are requirements for obtaining permits / licenses for the company’s activities – copies of such licenses or permits
• Power of attorney if a representative acts on behalf of a legal entity when opening an account in a Bulgarian bank

The best banks to open an account in Bulgaria

In general, there are many local banks in Bulgaria, each of them has its own characteristics, pros and cons

Among the best banks:

• DSK Bank – free account opening for refugees from Ukraine in need of additional shelter
• Raiffeisenbank – free account opening for refugees from Ukraine, those in need of additional shelter
• TBI
• UniCredit Bulbank
• United Bulgarian Bank
• Bulgarian Post Bank
• The first investment bank
• Citibank

Assistance in opening a bank account in Bulgaria includes advising a lawyer on the availability of appropriate documents for opening an account, conditions for opening an account, bank billing, support in the bank, assistance in filling out bank documents, and other services in the banking sector.

Some Bulgarian banks usually send a bank card to your address a few days after submitting the documents, and do not issue a bank card immediately.

Assistance in opening an account in a Bulgarian bank online. Maybe or not?

Opening a bank account in Bulgaria without a personal presence is, from the point of view of the financial structures of Bulgaria, a great risk for money laundering. Bank managers are extremely meticulous in checking the documents submitted to the bank.

That is why we recommend that you turn to specialists who have experience working with banks, understand all the procedures and grounds for refusing to open a bank account. However, indeed, some banks allow you to open an account remotely, and our experts can accompany this process.

Opening and maintaining an account in a Bulgarian bank is one of the main activities of our lawyers and economists. Make an appointment for a consultation and see for yourself the professionalism.

Importantly! There are hotlines on the websites of many banks where you can call and find out all the information yourself, but you may encounter a problem of not understanding the Bulgarian language or Bulgarian banking terminology. That is why we recommend that you make an appointment with our lawyers before contacting the banks.