Business Bank Account in Varna
Why Do You Need a Business Account?
Opening a bank account is an essential step when registering and running a company in Varna. Before registration you need an escrow account to deposit the share capital, and afterwards a current account for daily operations.
Most banks have offices in central Varna and the Primorski district.
Business Environment in Varna
Varna (approximately 340,000 residents) is the maritime capital of Bulgaria, with a developed tourism, logistics and IT sector. The city has over 40,000 registered companies, making it an active business centre.
Key Industries:
- Maritime Transport & Logistics
- Tourism & Hospitality
- IT Services
- Trade
Office Rents: Average office rents in Varna are €5–14/sq.m., which is competitive compared to other cities in the region.
Bank Branches: UBB, DSK Bank and UniCredit Bulbank have branches on Knyaz Boris I Blvd., Slivnitsa Blvd. and in the Primorski district.
Notary Offices: Notary offices are concentrated around Nezavisimost Square, Maria Louisa Blvd. and the Odesos district.
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 Varna
- Prepare documents — manager's ID, articles of association / partnership agreement (for escrow) or CR certificate (for current account)
- Visit a bank branch — in Varna 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 Varna:
- 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 Varna:
| Service | Price |
|---|---|
| Opening an escrow account | €5–10 |
| Opening a current account | €0–5 |
| Monthly maintenance | €3–15 |
| Online banking | €2–5/month |