Business banking in Bulgaria

How business banking works in Bulgaria

Business banking in Bulgaria splits into two broad groups. Traditional banks such as UniCredit Bulbank, DSK Bank, United Bulgarian Bank, Postbank and First Investment Bank offer branch based business accounts with cash handling, lending and local support. Licensed digital providers such as Revolut Business, Wise Business and Paysera offer accounts opened online, often with lower monthly fees and multi currency features. Bulgaria joined the euro area on 1 January 2026 and sits inside the SEPA area, so euro transfers across the European Economic Area are straightforward and there is no longer a separate lev account to manage. The right fit depends on whether you value branch access and cash services or low cost online banking and foreign currency handling.

Who can open a business account

Sole traders, freelancers, partnerships and companies including the single owner EOOD and the multi owner OOD can hold a business account in Bulgaria. A limited company normally opens a capital accumulation account first to record its share capital, which can be as low as a token amount for an EOOD, before it is entered in the Commercial Register. Self employed people often qualify for a simpler business account. Regulated activities may need a licence before the business registers. Licensed digital providers generally serve already registered businesses rather than the capital deposit step.

Traditional banks compared with neobanks

Traditional banks suit businesses that handle cash, want a local relationship manager, or need lending and overdraft facilities. They charge a monthly maintenance fee set in each bank's tariff, and some charge a foreign owned company a one time KYC review fee. Neobanks suit businesses that work online, invoice abroad, or want to keep costs low, and some charge no monthly fee. Neobanks rarely accept cash deposits, cannot provide the capital accumulation account, and lending is limited, so the trade off is cost and convenience against branch services and credit. Confirm current terms with each provider.

Requirements and documents

Exact documents vary by provider and legal form, and a limited company has extra steps for its share capital. A common checklist is below. Verify with the provider

• Proof of the business: a Commercial Register extract for a company, or proof of self employed status for a sole trader, plus the VAT registration number where the business is registered for VAT.
• Identification for every owner and authorised signatory, usually a passport or national identity card, plus proof of address.
• For a new limited company, a capital accumulation account and a deposit confirmation for the share capital, plus source of funds information requested under anti money laundering rules. Foreign owned companies are often asked for notarised and translated company documents.

How to open an account

1. Choose a provider and account type that matches your legal form and how you handle cash and foreign currency. Read the fee schedule as of the date you apply.
2. Gather your business proof, owner identification, proof of address and, for a new company, your formation documents. Complete the provider identity and source of funds checks.
3. Open the account online or in branch. A new limited company pays in its share capital to a capital accumulation account, collects the deposit confirmation, registers in the Commercial Register, then converts the account into a full operating account.