Bulgaria has one of the most stable bank systems within the EU and most of the banks provide full English 24/7 support. In Bulgaria, there are 22 licensed banks and 7 branches of foreign banks of in total 27 banks of which the most well-known are Unicredit Bulbank AD, Raiffeisenbank (Bulgaria) EAD, First Investment Bank AD, Societe Generale Expressbank AD, Piraeus Bank Bulgaria AD, First Investment Bank AD and much more.
We assist our clients in the whole process of opening a corporate bank account in Bulgaria for their foreign entities. Our expertise includes opening bank accounts remotely in Bulgaria for 3 types of companies:
1) Corporate bank accounts can be opened to EU companies, where shareholders are EU nationals;
2) EU companies, where shareholders are non-EU and
3) Offshore companies.
What documents do I need to open a bank account in Bulgaria?
To open bank accounts for foreign companies in Bulgaria the bank requires a number of documents which vary depending on the specific company, its scope of business and the local legislation of the country where the company is founded and located, but the basics are:
• Articles of Association of the company;
• Certificate of good standing – official document issued by the registrar which shows the current legal state of the company, as well as the current directors, registered address, shareholders, etc.;
• A signed copy of the valid passport or national ID card of the shareholders and the directors of the company.
• Power of attorney in case the account will be opened via proxy.
All document must be apostilled and translated in Bulgarian when the account will be opened.
Minimum balance to preserve the account
Every bank requires a minimum deposit amount to preserve the account which varies depending on the bank.
Can I open a bank account remotely from abroad?
Yes, you can open a corporate bank account in Bulgaria to your foreign entity remotely. By providing our team with a Power of attorney, which is notarized in the Bulgarian Embassy abroad or before a foreign notary, we can open remotely the bank account Bulgaria, apply for bank card and online banking.
Does the bank provide online banking?
Yes, the banks in Bulgaria provide online banking services fully in English and have online support center 24/7. Each account has online banking and you can have active or passive rights. The username and password can be given to an authorized person and handed to the beneficiary.
Does the bank provide debit/credit cards?
Yes, the bank provides a debit card to each opened by its account. It usually takes a week or so to get a bank card, which can be delivered to your chosen address or collected from the bank in person.
Which Bank should I choose?
Here is a list of some national retail banks in Bulgaria that are trustworthy and have very good e-banking:
• UniCredit Bulbank
• First Investment Bank
www.bulbank.bg www.fibank.bg www.postbank.bg
Before you choose a bank for your foreign entity, you need to read the terms and conditions carefully. This is especially important when it comes to banking fees and charges.
Pre-approval for opening a corporate bank account in Bulgaria
Due to our partnership with the most of the Bulgarian banks, we use the pre-approval procedures which allows the bank to revise the documents of the company in English upon scanned copies. After the approval of the bank, we proceed with the translation and legalization.
For more information and price quote do not hesitate to contact us.