How to open a bank account in Bulgaria

Opening a bank account in Bulgaria is a must for anyone planning to invest in real estate, run a business, or simply reside in the country for an extended period. The Bulgarian banking system is stable, and the account opening procedure is fairly transparent if you understand all the nuances.

Why open an account in a Bulgarian bank?

For foreign investors, a bank account in Bulgaria offers several key advantages:

• Simplifying payments when purchasing real estate. Payment for notarial transactions is made exclusively by bank transfer.
• Receiving rental payments. If you rent out your property, you will need a local bank account to receive rental income.
• Payment of utility and tax expenses. Bulgarian banks allow you to automate regular payments.
• Access to mortgage and investment products. Many banks offer preferential terms for local accounts.

Types of bank accounts

Foreigners can open two types of accounts:

1. Personal Account – used for personal needs, receiving salary or rent.
2. Corporate Account – required for legal entities or owners of companies registered in Bulgaria.

Most investors start with a personal account in euros or Bulgarian leva (BGN).

What documents are needed?

The list may differ slightly from bank to bank, but the following will typically be required:

• Passport (valid international);
• Proof of residential address (lease agreement or utility bill);
• A document confirming the source of income or the purpose of opening an account (for example, a real estate purchase and sale agreement);
• In some cases, a foreigner identification number (EGN or LNC), which is issued for a long-term stay.

If the account is opened for a company, the company’s registration documents and the director’s decision to open the account will be required.

How does the procedure work?

1. Choosing a bank. The largest banks in Bulgaria are UniCredit Bulbank, DSK Bank, Postbank, Raiffeisenbank, Fibank, and UBB.
2. Make an appointment. Foreigners are advised to make an appointment in advance and check whether a particular branch serves non-residents.
3. Submitting documents and filling out the application form. At the branch, an employee checks documents, makes copies and fills out forms.
4. Making a minimum deposit. Usually 10-50 leva or the equivalent in euros is enough.
5. Obtaining a bank card and access to online banking. The card is produced within 5-10 business days.

Is it possible to open an account remotely?

Some banks allow partial account opening remotely—for example, by submitting an online application and sending scanned documents. However, final identity verification will still require an in-person visit to a branch or a notarized power of attorney for a representative.

Maintenance cost

• Account opening: free or a symbolic commission (up to 10 leva).
• Monthly maintenance: from 2 to 6 leva.
• Bank card: 10–15 leva per year.
• International transfers (SWIFT): 0.1–0.2% of the amount, minimum ≈ 10 euros.

Tips for investors

• Choose a bank with a branch in your city or resort. This will simplify personal communication and identification.
• Check for English language support. Large banks have consultants who speak English, Russian or German.
• Keep your statements. They may be required when submitting documents to migration or tax authorities.
• If you’re planning to buy real estate, open an account in advance—sometimes banks request additional verification of your sources of funds.

How we can help

Our company supports clients through every stage of the investment process—from choosing a property to opening a bank account and transferring funds.
We partner with leading Bulgarian banks and can arrange a meeting with a manager, prepare the necessary documents, and assist with translation.

Opening a bank account in Bulgaria is a simple yet important formality that ensures comfortable property ownership and financial security for the investor.

If you’re planning to buy real estate in Bulgaria, contact us – we’ll help you find the best solution for your specific situation.