Head of International Corporate Law and Fintech Practice
Expert in fintech, crypto, and international corporate law with over 20 years of experience. Specializes in crypto licensing (VASP/CASP), iGaming business support, and international structuring, asset protection, and OSINT analytics for risk assessment and due diligence.
OPENING A BANK ACCOUNT IN BULGARIA
If you are looking for an opportunity to open a bank account in a European jurisdiction, Bulgaria is a great option. This country even allows non-residents to open accounts, and you can get one in just a few weeks after applying.
However, in order to open a bank account in Bulgaria, you need to meet certain criteria: in particular, personal presence and proof of your address in the country.
Our law firm “Prikhodko and Partners” will be able to help you with all the nuances of the process of opening a bank account in Bulgaria and help with compliance with banking requirements.
In Bulgaria, you can open both a personal account for a foreign citizen and a corporate account for a company. We work with all banks in Bulgaria, in particular: DSK, UniCredit, Tokuda Bank, Invest Bank, Fibank, Raiffeisenbank.
Personal accounts
Personal accounts are intended for individuals and provide the ability to receive wages, pay utilities, shop online, save money, and issue bank cards for everyday use.
Corporate accounts
Corporate accounts are intended for legal entities and are used to conduct business operations, pay taxes, pay salaries to employees, and perform international transactions.
Advantages of a bank account in Bulgaria
Opening a bank account in Bulgaria provides a number of significant advantages:
- Your funds are protected against theft and loss that may occur when cash is stored.
- Ability to make payments online, through mobile applications or using bank cards.
- Ease of making and receiving international payments, which is especially important for business.
- Having an account helps to build a positive credit history, which can be useful for obtaining loans in the future.
- Many banks offer investment products that are only available to account holders.
- The ability to carry out transactions in different currencies, which is especially important for international business.
A business necessity
In Bulgaria, the presence of a bank account is a mandatory condition for company registration, as well as an important component for keeping accounting records, conducting business operations, paying taxes and fees, and paying salaries to employees.
It is important to note that banks do not always easily open accounts for foreigners. We, the Prikhodko and Partners law firm, have many years of experience in helping clients open bank accounts and provide legal support to our clients in opening bank accounts in Bulgaria.
Account opening requirements
The requirements for opening a bank account in Bulgaria differ depending on whether the applicant is a natural person or a legal entity.
Documents required for opening an account for an individual:
- Copy of foreign passport
- Copy of civil passport
- A copy of the document on the assignment of a tax number in the country of residence
- Proof of address in Bulgaria (lease agreement or property ownership document)
- Mobile phone of the Bulgarian operator
Documents required to open a company bank account in Bulgaria:
- Company documents:
- Originals of all statutory documents
- Documents for the director of the company:
- The original of the internal passport
- Original passport (if available)
- Address confirmation
- Documents for the beneficiary of the company:
- The original of the internal passport
- The original of the foreign passport
- Address confirmation
Features of the Bulgarian banking system
Although the official currency of the country is the Bulgarian lev, many banks offer the option of opening accounts in euros, which facilitates international payments.
A bank account in Bulgaria is not just a convenience, but a necessity for a full life and doing business in the country. It provides financial security, facilitates payments and opens access to a variety of financial services.
We, the law firm “Prikhodko and Partners”, provide full legal support when opening bank accounts for both individuals and corporate clients.
Our team will provide professional support at every stage, guaranteeing security and compliance with all requirements of banking institutions.
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