Global Business Service Agency: legal services for business

In 2017, 37 banks, where 74% of the assets of the institutions belong to international financial institutions, and only 16% to the People's Bank of the country represent the banking system of Bulgaria. Due to this distribution of assets, commercial banks are minimally prone to inflation, devaluation and economic crises of the State, which is a high guarantor for depositors.

Why is it needed an account in the Bulgarian bank

1. Obtaining a residence permit and citizenship. Investors who have invested at least €250 000 in Bulgarian enterprises or purchased real estate for such amount can officially immigrate to the country.
2. Registration of purchase and sale operations. Under the law of jurisdiction, all transactions amounting to more than 5 000 BGN are held only through bank accounts.
3. Payment of utility services in the country is made only by withdrawing a specific amount from the bank account.
4. International money transfers (all payments over $3 000 require declaration) are also accepted only through banking.
5. Corporate payments in the country and abroad should be carried out only through local financial institutions.

Open an account in the Bulgarian bank: advantages of jurisdiction

1. In Bulgaria, it is possible to open all kinds of accounts to non-resident and foreign company, both in local currency, and in euro or dollars.
2. All accounts are protected to the amount up to 196 000 BGN by the European Deposit Guarantee Fund and the insurance Indemnity Fund of Bulgaria.
3. In the jurisdiction available option to open IBAN-accounts.
4. Bulgarian banks provide some of the lowest rates in Europe for banking opening and servicing:
   • Opening an account – about 10 leva;
   • The cost of servicing the account – up to 30 BGN;
   • Minimum account balance must be at least 30 BGN;
   • Outgoing payments are charged from 0.5 to 300 BGN depending on the currency of the transaction, the transfer system and the country of destination;
   • Incoming payments are not charged.

How to open an account in Bulgaria

For the registration of banking will need such documents:

• Identity card of the beneficiary, with a translation, certified by a notary;
• Copies of corporate documents of the company translated and certified by a notary;
• In case of opening an account for the company by a third person-a power of attorney to open an account and a power of attorney.

Specialists of GBS Agency can open a bank account in UNICREDIT BULBANK for 10 working days for only €1 000. At the same time, we take all the burdens on paperwork and communication with the representatives of the banking institution. To clarify details on personal or corporate banking for non-residents, please contact our financial experts right now!