Opening a company bank account in Bulgaria
Two different bank accounts come up when a Bulgarian company is formed, and confusing them is the most common mistake. The first is the capital account, opened temporarily and solely so the founding capital can be paid in. The second is the current account, opened after registration, through which the business actually trades. The capital account produces a document for the file; the current account is what makes the company work.
Companies and taxes · Last reviewed: 2026-08-23
Two accounts, two purposes
The capital account is opened in the name of the company in formation. Members pay their cash contributions into it and the bank issues evidence of the paid-in capital, which forms part of the registration file. At this stage the account is not a payment instrument: the funds sit blocked until the company is entered in the register. After entry the balance moves to the current account, or the bank converts the account itself.
The current account is opened afterwards, in the name of the now existing legal person. Tax payments, customer receipts, payroll and supplier transfers all run through it. In practice the company becomes operational not on the day of registration but on the day this account starts working.
Why the bank asks so many questions
Banks are subject to anti-money-laundering and counter-terrorist-financing rules, and the duty to know their customer is their own. That is why a file from a foreign founder is examined for three things: where the money comes from, what the company will really do, and who ultimately controls it. From your side this can feel like distrust; from the bank's side it is accountability to a supervisor. A prepared file moves through the same branch at an entirely different speed.
What to prepare
- The constitutive act, or a current extract from the register, evidencing existence and representation.
- Identity documents for the manager and the beneficial owners; foreign documents may need an apostille and a sworn translation.
- A declaration of ultimate beneficial ownership.
- A description of the business: sector, customers, expected monthly volume and the countries you will trade with.
- Evidence of the source of funds: savings, distributed profit, a sale, or an investment.
- A correspondence address and, where required, a contact point in the country.
Get the sequence right
Choose the bank before you incorporate
Banks differ sharply in appetite for newly formed companies with foreign ownership. One call to the branch beforehand is cheaper than shopping around after registration.Open the capital account and pay the capital in
The account is opened on the constitutive act, contributions are paid in and the bank issues its certificate. The amount on that certificate must match the constitutive act exactly.Complete the registration
Once entered, the company exists with its identification code and the bank is dealing with a permanent rather than a provisional customer.Open the current account and set the mandates
Signing authority, online banking access, cards and limits are settled here and must be consistent with the representation shown in the register.
The most common reasons for refusal
| Reason | What the bank sees | What to do |
|---|---|---|
| A vague description of activity | Wording broad enough to cover anything | Describe a concrete service and a concrete customer profile |
| Unexplained source of funds | Money with no traceable history | Provide statements, a sale contract or a distribution resolution |
| A complex ownership chain | Layered structures across several countries | Document the chain down to the beneficial owner |
| No connection to the country | No address, no customers, no staff | Show a lease, a draft contract, a local accountant |
| Name mismatches | Different spellings in passport and translation | Have the translation corrected against the passport |
Opening an account is not a legal entitlement
Charges come from the bank's own tariff
This is not legal or financial advice
Frequently asked questions
Can the company hold accounts in more than one currency?
Multi-currency accounts are widely offered and are common for companies invoicing abroad. What matters for compliance is that the flows match the described business, not how many currencies are involved.
Does the manager need a Bulgarian personal number to open the account?
Banks identify individuals from identity documents, but a national identifier often makes online banking, electronic signatures and tax services materially easier. Ask the bank what it requires before the appointment.
How long does onboarding take?
There is no statutory deadline. A straightforward domestic file can be same-day, while a foreign ownership chain with documents to be verified abroad routinely takes weeks. Treat the bank as the critical path.
Sources
The information on this page is based on the official sources listed below. Legislation changes — open the links and verify the current position.
- Агенция по вписванията — „Как да регистрирам фирма“ (внасяне на капитала) — https://www.registryagency.bg/bg/registri/targovski-registar/kak-da-registriram-firma/ · 2026-08-23
- Агенция по вписванията — удостоверяване на внесения капитал (ЕПЗЕУ) — https://portal.registryagency.bg/page/121 · 2026-08-23
- Българска народна банка (БНБ) — https://www.bnb.bg/ · 2026-08-23
- Българска народна банка — Наредба № 16 за лицензирането и дейността на банките — https://www.bnb.bg/bnbweb/groups/public/documents/bnb_law/au_lf_ordinance_16_bg.pdf · 2026-08-23
- Национална агенция за приходите — https://nra.bg/ · 2026-08-23
- Lex.bg — Bulgaristan mevzuat veri tabanı — https://www.lex.bg/ · 2026-08-23
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