Corporate Bank Account for Your Bulgarian EOOD: Which Bank & How

Why Your EOOD Needs a Bulgarian Bank Account

If you are registering a Bulgarian EOOD, a bank account is not optional. You need one before the company even exists legally — the Trade Registry requires a bank certificate confirming the capital deposit as a mandatory attachment to your registration application.

But the bank account story does not end at registration. Your EOOD will need a functioning business account for paying taxes to the National Revenue Agency (NRA), paying salaries, receiving client payments, and handling day-to-day expenses. Getting the bank account right from the start saves you time, money, and significant bureaucratic frustration later.

Since Bulgaria adopted the euro on January 1, 2026, all bank accounts are denominated in EUR and all transfers within the 36-country SEPA zone are processed as domestic transfers. The good news: your EOOD operates in the same currency as most of your European clients. The complication: banks have significantly tightened their KYC (Know Your Customer) procedures for corporate accounts since eurozone entry.

Step One: The Capital Accumulation Account

Before your EOOD can be registered, you need to open a capital accumulation account (набирателна сметка) — a temporary, purpose-specific bank account that holds the initial share capital until the company is officially registered with the Trade Registry.

How It Works

• Purpose: The sole purpose of this account is to hold the share capital deposit and generate a bank certificate proving the deposit was made. The Trade Registry will not accept your EOOD registration application without this certificate.
• Minimum capital: The legal minimum share capital for an EOOD under the Bulgarian Commercial Act is EUR 1. In practice, most founders deposit EUR 1 to EUR 50.
• Timeline: Can typically be opened on the same day at most Bulgarian banks. This is straightforward — it is the regular business account that takes time.
• Conversion: Once your EOOD receives its UIC (Unified Identification Code) from the Trade Registry, the bank converts the accumulation account into a regular business current account.

Documents for the Capital Accumulation Account

• Draft Founding Act (Учредителен акт) of the EOOD
• Passport or national ID of the founder
• Passport or national ID of the appointed manager (if different from founder)
• Decision to establish the company (protocol)

Regular Business Account: Documents Required

After your EOOD is registered and you have a UIC, you need to either convert the accumulation account or open a new business current account. Here is what banks require:

KYC Process and Fees (EUR 100-500)

This is the part that catches most EOOD founders off guard. Since Bulgaria joined the eurozone in January 2026, all major banks charge a non-refundable KYC review fee for corporate account applications.

What the KYC Fee Covers

• Due diligence on the company structure — the bank's compliance department reviews the ownership chain, identifies all beneficial owners, and checks them against sanctions lists and PEP databases
• Business activity review — the bank evaluates the nature of the business, expected transaction volumes, and whether the company's profile fits the bank's risk appetite
• Source of funds verification — for companies with significant initial capital or complex ownership, the bank may request additional documentation proving the legitimate origin of funds

Key Facts About the KYC Fee

• Range: EUR 100 to EUR 500 depending on the bank and the complexity of the company structure
• Non-refundable: The fee is charged upfront and is not refunded if the bank ultimately declines to open the account
• Applies to all major banks: This is not bank-specific — it is an industry-wide practice since the eurozone KYC tightening
• Simple structures pay less: A single-owner, single-manager EOOD with an EU-citizen founder is at the lower end of the fee range. Complex structures with multiple shareholders, foreign parent companies, or non-EU beneficial owners pay more

Timeline: How Long Does It Take?

Corporate accounts do not open the same day. Here is the realistic timeline:

Simple EOOD (single EU-citizen owner/manager, straightforward business activity): expect approximately one week from application to active account.

Complex structure (multiple shareholders, foreign parent company, non-EU beneficial owners, regulated business activity): expect 2-3 weeks. Some banks may request additional documents during this period, which can extend the timeline further.

DSK Bank vs UniCredit Bulbank: Which One?

Based on our experience assisting hundreds of EOOD formations, DSK Bank and UniCredit Bulbank are the two most reliable banks for corporate accounts. Here is how they compare:

Our general recommendation: If you value English-language service and are comfortable with a specific branch, UniCredit Bulbank (Paradise Mall, Sofia) is the safer choice. If you need branch access across Bulgaria and want the widest ATM network, DSK Bank is the practical choice. Both are equally reliable for corporate accounts.

Opening Process: Step-by-Step

Here is the complete process for opening a corporate bank account for your EOOD, from start to finish:

1. Register your EOOD first. You cannot open a regular business account without a UIC. Complete the EOOD registration through the Trade Registry and wait for the UIC to be assigned (1-3 business days after filing). The registration cost is separate from the bank account fees.
2. Prepare all required documents. Gather the UIC extract, Founding Act, manager's passport, and beneficial owner declaration. Get the manager's specimen signature notarized at a Bulgarian notary. Write a clear business activity description including expected turnover, main clients, and countries of operation.
3. Choose your bank. DSK Bank or UniCredit Bulbank for most EOODs. Contact the specific branch in advance to confirm they handle corporate account opening for foreign-owned companies and whether you need an appointment.
4. Visit the branch in person. The manager must appear physically. Present all documents, complete the application forms, and pay the non-refundable KYC fee (EUR 100-500). The bank officer will take copies of everything and explain the next steps.
5. Wait for the KYC review. The bank's compliance department reviews your application. This takes approximately one week for simple structures. The bank may contact you for additional information or documents during this period. Respond promptly to avoid delays.
6. Receive your account details. Once approved, the bank activates your account, issues your EUR IBAN, sets up online banking credentials, and orders a business debit card. The account is ready for incoming and outgoing transfers.
7. Register the IBAN with the NRA. Notify your accountant of the new business account so they can include it in your NRA filings. Set up the account for tax payments — see the NRA payment section below.

NRA Payment Requirements: Why Your IBAN Matters

One of the most common questions EOOD owners ask is whether they can pay NRA taxes from a foreign IBAN — for example, from their Wise Business or Revolut Business account. The answer is technically yes, but practically problematic.

The Technical Reality

The NRA accepts SEPA credit transfers from any IBAN within the SEPA zone. There is no legal prohibition on paying your corporate tax, VAT, or social security contributions from a Belgian IBAN (Wise) or a Lithuanian IBAN (Revolut). The payment will arrive.

The Practical Problem

The NRA's internal system is optimized for Bulgarian IBANs. When a payment arrives from a foreign IBAN, the system may not automatically match it to your company's tax file. This means:

• Your payment sits unallocated while the NRA manually processes it
• During the matching delay, your tax obligation appears unpaid — which can trigger automatic penalties and interest
• You may need to contact the NRA to manually request allocation of the payment to your company's account

Social Security Declarations

Your EOOD is required to file monthly social security declarations with the NRA:

• Declaration Form 1 — filed monthly by the 25th of the following month, declaring the social security base and contributions for each insured person
• Declaration Form 6 — filed monthly by the 25th of the following month, declaring the total social security and health insurance contributions due
• Payment: Social security contributions must be paid by the 25th of the month following the month they relate to. These payments should go from your Bulgarian IBAN for reliable matching.

After Opening: What to Set Up

Once your corporate bank account is active, there are several things to configure immediately:

• Online banking access. Activate the bank's online platform and mobile app. Set up transaction notifications so you are alerted to every incoming and outgoing payment.
• Accountant access. Provide your accountant with view-only access to the account (most banks support this) or set up automatic monthly statement exports. Your accountant needs to see every transaction for bookkeeping and tax filing.
• NRA payment templates. Set up standing payment templates for your regular NRA obligations — corporate tax advance payments, social security contributions, and (if applicable) VAT. This reduces the risk of errors in the payment reference numbers.
• Salary payment setup. If you are paying yourself a salary as the EOOD manager (which is required if you are self-insured through the company), set up a recurring transfer. Salaries can technically be paid from any account, but we recommend using the Bulgarian bank account.
• Business debit card. Activate your business debit card for company expenses. Keep all receipts — your accountant will need them. Remember that the combined corporate tax rate on distributed profits is 15% (10% corporate income tax + 5% dividend withholding tax), so deductible business expenses paid through the company account directly reduce your tax burden.

Frequently Asked Questions

Disclaimer: This article provides general guidance on opening corporate bank accounts in Bulgaria based on current legislation and banking practices as of April 2026. Individual bank policies, fees, and requirements may vary. This article does not constitute legal or financial advice. For personalized guidance, consult a qualified Bulgarian lawyer. Last updated: April 7, 2026.