Company Bank Account in Bulgaria

Why Do You Need an Account?

A bank account is an essential element for every company in Bulgaria. Even before the actual registration of the company, you need an escrow account for depositing the incorporation capital, and after entry in the Trade Register — a current account for day-to-day operations.

Escrow Account (Before Registration)

The escrow account is opened in the name of the company in the process of incorporation. The subscribed capital (minimum 1 EUR for EOOD/OOD) is deposited into it. The bank issues a certificate of deposited capital, which is a mandatory attachment to the A4 application for registration with the Trade Register.

Current Account (After Registration)

After company registration, the escrow account is usually converted into a current account, or a new one is opened. The current account is used for:

• Receiving payments from clients
• Paying suppliers, rent, salaries
• Paying taxes and social security contributions
• Servicing loans and leases

Requirements

To open a corporate bank account, you need to prepare a specific set of documents. Requirements vary slightly between banks, but the core documents are standard.

Documents for an Escrow Account

• Articles of Association (for EOOD) or Articles of Partnership (for OOD) — signed, but not yet filed with the Trade Register
• Minutes of the Founding Meeting with the decision to incorporate
• Manager's ID card (original for verification)
• Notarially certified specimen of the manager (some banks require this for the escrow account too)

Documents for a Current Account

• Certificate of current status or extract from the Trade Register (EIK)
• Articles of Association / Articles of Partnership (current version)
• Manager's ID card and IDs of persons authorized to manage the account
• Specimen (signature sample) — some banks certify their own specimen form
• Declaration of beneficial owner — required under the AML Act (Закон за мерките срещу изпирането на пари)

Procedure

The process for opening a corporate bank account is relatively quick but requires a personal visit in most cases.

Step 1: Choose a Bank

Compare the offers of different banks based on criteria such as monthly fees, transfer fees, online banking, and additional services. More information is in the "Choosing a Bank" section below.

Step 2: Prepare the Documents

Gather all the necessary documents listed in the previous section. Make sure the Articles of Association is signed and that you have originals for verification.

Step 3: Visit a Bank Branch or Apply Online

• In a branch — visit the selected bank branch with the manager (and possibly an authorized person). The procedure takes 30–60 minutes.
• Online — some banks (DSK, UniCredit) offer a partially online account opening process, but a final in-branch verification is usually required.

Step 4: Sign the Agreement

Sign the framework banking services agreement, the general terms and conditions, and the specimen signature card. You receive an IBAN and access to online banking.

Step 5: Deposit the Capital (for Escrow Accounts)

Deposit the subscribed capital and request a bank certificate of deposited capital — this document is mandatory for filing with the Trade Register.

Choosing a Bank

Choosing a bank is an important decision that will affect your daily operations. Here is an overview of the main banks in Bulgaria for corporate services.

UniCredit Bulbank

One of the largest banks in Bulgaria with an extensive branch network. Offers stable online banking and good conditions for international transfers. Monthly fees for a corporate account are in the medium to high range (8-15 EUR/month depending on the package).

DSK Bank (Банка ДСК)

The largest bank by number of clients. Offers diverse packages for small and medium enterprises with competitive fees. The DSK Smart online banking platform is convenient and functional. Monthly fees: 5-13 EUR/month.

Fibank (First Investment Bank)

Popular among small businesses due to more flexible conditions and fast service. Offers a good mobile app. Monthly fees: 4-10 EUR/month, but transfer fees may be higher.

Raiffeisen Bank

A bank with a good reputation for corporate services. Offers packages with included transfers and modern online banking. Monthly fees: 8-15 EUR/month.

Postbank (Eurobank)

Offers an extensive branch network and diverse packages. Suitable for companies that need physical access to branches in smaller cities. Monthly fees: 5-13 EUR/month.