Business Bank Account in Sofia
Why Do You Need a Business Account?
Opening a bank account is an essential step when registering and running a company in Sofia. Before registration you need an escrow account to deposit the share capital, and afterwards a current account for daily operations.
All major banks have head offices in Sofia offering a full range of corporate services.
Business Environment in Sofia
Sofia (over 1.3 million residents) is the capital and largest business hub in Bulgaria, home to over 60% of all registered companies in the country. The city has over 180,000 registered companies, making it an active business centre.
Key Industries:
- IT & Outsourcing
- Finance & Insurance
- Wholesale Trade
- Consulting Services
Office Rents: Average office rents in Sofia are €8–20/sq.m., which is competitive compared to other cities in the region.
Bank Branches: UniCredit Bulbank, DSK Bank, Postbank and UBB have central branches on Vitosha Blvd., Tsarigradsko Shose Blvd. and near the National Palace of Culture.
Notary Offices: The highest concentration of notary offices is around the Palace of Justice on Vitosha Blvd., along Dondukov Blvd. and in Sofia Business Park.
Types of Business Accounts
| Account Type | Purpose | When? |
|---|---|---|
| Escrow | Depositing the founding capital | Before company registration |
| Current | Day-to-day business operations | After receiving the UIC |
| Foreign currency | Foreign currency operations | When trading internationally |
Opening Procedure
- Choose a bank — compare the terms offered by banks in Sofia
- Prepare documents — manager's ID, articles of association / partnership agreement (for escrow) or CR certificate (for current account)
- Visit a bank branch — in Sofia or open online (some banks offer remote opening)
- Deposit the capital — minimum €1 for EOOD/OOD
- Obtain the certificate — deposit slip for the escrow account, needed for the CR
Required Documents
To open an escrow account in Sofia:
- Founder's / manager's ID
- Articles of association or partnership agreement (draft)
- Resolution to incorporate the company
For a current account:
- Certificate of current status from the CR
- Manager's ID
- Resolution of the manager / partners to open an account
Fees
Estimated bank fees in Sofia:
| Service | Price |
|---|---|
| Opening an escrow account | €5–10 |
| Opening a current account | €0–5 |
| Monthly maintenance | €3–15 |
| Online banking | €2–5/month |