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Opening a bank account in Bulgaria

Opening a Bulgarian bank account is technically simple but documentation-heavy. The friction rarely comes from the rule itself; it comes from the bank's duty to know its customer, which means proving who you are, where you live and where your money comes from.

Everyday life · Last reviewed: 2026-08-16

Why the bank asks for so much paperwork

Anti-money-laundering legislation obliges banks to identify their customers. So alongside a passport or ID card you will be asked for an address, your professional status and a plausible account of where the funds originate. These questions are a legal duty rather than curiosity; consistent, evidenced answers speed the process up, while contradictory statements lead to refusal or to the account being restricted later.

Do not embellish the paperwork

A false statement about source of funds, address or activity can lead not only to the account being closed but to criminal consequences. If you do not have a particular document, it is better to say so and ask what alternative evidence is accepted.

Where resident and non-resident treatment diverges

  • For people with a registered address in the country, opening usually means fewer questions and a wider product range.
  • Non-residents can open accounts too, but some banks require extra documents, a higher minimum balance, or apply a different fee schedule.
  • For EU citizens, access to a payment account with basic features is protected at EU level; the conditions are set out on the Your Europe pages.
  • A personal number issued to foreigners can smooth some operations — ask the bank which identifier it needs before you go to a branch.

Why a company account is harder than a personal one

For a corporate account the bank must identify not only the manager but the ultimate beneficial owner. That means a current extract from the trade register, the constitutive act, evidence of signing authority and an explanation of what the business actually does. With newly incorporated companies that have no trading history, follow-up questions are normal. Converting the capital-deposit account opened for incorporation into an ordinary operating account after registration is a separate step as well.

After the euro: IBAN, SEPA and payments

  1. Account numbers are IBANs

    Bulgarian IBANs begin with BG; to receive a transfer you provide the IBAN and the bank's BIC/SWIFT code.

  2. With the euro, SEPA applies directly

    Euro transfers within the EU run over SEPA infrastructure, which makes payments inside the euro area fast and inexpensive.

  3. Cards and mobile banking are standard

    Most banks offer online banking and contactless cards; ask which interface languages are supported when you open the account.

  4. Ask for the fee schedule in writing

    Maintenance fees, transfer commissions and card charges differ between banks and are published as a tariff.

Deposit guarantee and supervision

Banks operating in Bulgaria are supervised by the Bulgarian National Bank and a deposit guarantee scheme is in place. For the scope and level of cover, consult the BNB's official announcements — this page states no amounts.

This is not legal or financial advice

This page explains the process in general terms and points to the official sources of the competent authorities. For decisions specific to your own situation, consult a lawyer, an accountant or the relevant institution. Rules and amounts change over time.

Frequently asked questions

Can I open an account without a residence permit?

Most banks do open accounts for non-residents, though the documents required and the fees may differ. Policies vary, so asking two or three banks in advance saves time.

Can I run my company through my personal account?

You should not. The company's assets and the owner's are legally separate; mixing them corrupts the accounts and weakens the limited liability position.

Will my account be denominated in euro?

Since Bulgaria is in the euro area, the euro is the base currency. Banks may also offer accounts in other currencies — ask when you open.

Sources

The information on this page is based on the official sources listed below. Legislation changes — open the links and verify the current position.

  1. Българска народна банка (BNB) — банков надзор — https://www.bnb.bg/ · 2026-08-16
  2. Resmî euro geçiş portalı — evroto.bg — https://evroto.bg/ · 2026-08-16
  3. Your Europe — Citizens: bank accounts in the EU — https://europa.eu/youreurope/citizens/ · 2026-08-16
  4. Закон за мерките срещу изпирането на пари (lex.bg) — https://lex.bg/ · 2026-08-16

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