Company Formation in Bulgaria

Bank account opening

You can order your Bulgarian bank account from anywhere.

Our lawyers provide assistance in opening bank accounts with trusted Bulgarian banks.

We open:

Personal Bank accounts

Company Bank accounts (BG company)

Company Bank accounts (Foreign entity / non-resident companies in Bulgaria)

The physical presence is not required. We could open the bank account remotely with Power of attorney which needs to be notarized in the nearest Bulgarian embassy, or alternatively it should be apostille legalized.

An accompanying representative of our team, in case you visit Bulgaria. Our representative will introduce you to the institution and assist in filling in all the documents. We will answer any questions related to the banking services offered.

All bank accounts are offered with debit cards which will be delivered along with the PIN slips to your home or office address abroad by express courier services.

You know from experience that the current economic climate complicates the process of opening accounts and narrows down the choices in countries to do so, but Bulgaria remains a welcoming market and we give you the key to it.

After careful analysis and selection, we’ve chosen and established relations with the most prestigious, modern and innovative bank-leaders on the Bulgarian market, which have proved their professionalism over the years.  Opening a bank account in Bulgaria guarantees you secure and trouble-free payment in foreign currencies with your partners worldwide. Bulgaria is a SEPA participant, and domestic banks have multiple correspondent accounts with global banks and maintain an impeccable reputation on the international markets. 

All deposits and current accounts are insured up to 100 000 EUR per bank in accordance with the common European policy for deposit insurance. Having a bank account in Bulgaria gives you access to all the achievements of European banking. Depending on your company profile and your needs, in a close dialogue with you we will choose the most suitable bank.

You’ll be happy to know that the national currency – BGN – has been pegged to the EUR at a fixed rate, which makes working with accounts in BGN safe and without FX risk. You still have a huge choice, as all banking institutions in the country offer accounts in EUR, USD, CHF, GBP and in some cases, CAD, JPY and SEK – all to better serve your business interest. Upon receipt of payments in a currency different than the one of the account, the amount is automatically exchanged into the main currency of your account.  Each account operates with online banking in English, which gives access to your funds at any time and any location. At the customer’s request, debit cards VISA or MasterCard can be issued, which is another way for having fast and reliable access to your company funds. In certain cases, we can also assist you in obtaining a physical or a virtual POS device.

Our team becomes your advisor and guide to Bulgarian banks and offers customized service based on the individual bank’s requirements. Each bank we partner with employs its own singular set of required documents, methods of work and risk policies. Some consent to opening bank accounts remotely through a power of attorney and the opening forms that are notarised abroad, while others do not offer such a service. These factors turn our service into a strictly bespoken one, tailored to the needs and abilities of each client.

 

What is included in our service?

Initial introduction of the client to the bank

Receiving a preliminary and non-binding approval by the bank for opening the account

Preparation and filling in the necessary forms, providing detailed instructions on how to sign and notarise them (if required)

Translation of your documents into Bulgarian and their legalisation, as the banks only accept documents that are accompanied by an official translation into Bulgarian

Communication with the bank until activation of your account, e-banking and receiving the bank card by you

An accompanying representative of BG Company, in case you visit the bank in person. Our representative will introduce you to the institution and assist in filling in all the documents. We will answer any questions related to the banking services offered.

 

Fees for opening bank accounts in Bulgaria

Service Price in EUR
Opening a personal bank account € 449
Opening a company bank account € 449
Opening a foreign entity bank account € 4000

If you would like to obtain more details regarding opening a bank account in Bulgaria remotely, please do not hesitate to contact us.