Bank account opening
We offer our expert assistance for opening current and savings accounts with the leading banks in Bulgaria for our clients' companies - ready-made and newly established ones.
Due to recent shifts in the European socioeconomic landscape, it becomes increasingly complicating to open accounts in many countries in EU, but unlike them Bulgaria manages to preserve the business and bank climate stable and ever more welcoming.
Fees
| Service | Price in EUR |
|---|---|
| Opening a bank account with e-banking with a Bulgarian bank | 200 |
Optional services
| Service | Price in EUR |
|---|---|
| Bank cards obtaining | 50 |
| Provision of a physical POS device | 200 |
| Provision of a virtual POS | 200 |
(All prices are final)
What is included in our service:
- Initial introduction of the client to the bank
- Receiving a preliminary and non-binding approval by the bank for opening the account
- Preparation and filling in the necessary forms, providing detailed instructions on how to sign and notarise them (if required)
- Translation of your documents into Bulgarian and their legalisation, as the banks only accept documents that are accompanied by an official translation into Bulgarian
- Communication with the bank until activation of your account, e-banking and receiving the bank card by you
- An accompanying representative of Business Navigator, in case you visit the bank in person. Our representative will introduce you to the institution and assist in filling in all the documents. We will answer any questions related to the banking services offered.
Remarks on remote bank account opening
Advantage of this service is that you can order it from anywhere and the only downside is that it takes a bit longer until all translations, processes and legalisations are completed, as opposed to if you are here, in person.
If you decide to use our offers for a nominee director and shareholder, your presence at the bank will not be required - we will only need a copy of the ID document of the beneficial owner of the account - the rest is done by the nominee director.
How long will it take?
Usually the opening of the bank account remotely takes from 5 to 20 days after submitting all necessary documents, as opposed to if you attend in person at the bank - then it would take a single day. For a company with nominee director it also takes a day.
Keep in mind that if you choose the company to be in your name as a manager, the bank reserves the right to ask for additional papers and your presence (even if you ordered remote opening) and also has the right to refuse, based on the risk profile of the client and the business.
The good news is this uncertainty can be excluded and get your bank account with no delays with our
More info
After extensive research we’ve picked the banks with the best rates and conditions of their services as also one of the leading criteria were the ease of customer experience with the opening the account itself and the day to day operations through online banking interface.
Bulgarian banks operate at world standards in terms of technological advancement and keep perfect relations with correspondents in every country and currency. Bulgaria is part of the SEPA agreement which is prerequisite for efficient cross-border payment transactions.
Another advantage is that all funds on your savings and current accounts are guaranteed by the state for up to 100 000 EUR per bank, in compliance with the European policy for deposit insurance. According to your preferences and demands, we will advise you on the most suitable bank institution.
Bulgarian currency (BGN) is on a fixed exchange rate with the EUR, which effectively means that operating with BGN account is as good as EUR account. You can also choose from different options for your account currency - all depending on the specifics of your business. Your payments can be easily converted between currencies when you send them as the same is valid for when you receive payments.
All banks offer accounts in the most popular world currencies, such as USD, CHF, GBP and in some cases, CAD, JPY and SEK. All banks offer user friendly interface in English of their online banking system, which gives you 24-hour access to your funds around the world.
As an option you can order issuing a debit card - VISA or MasterCard, in addition to your bank account which gives you yet another convenient way of managing your funds. Additionally, we can assist you on getting physical or a virtual POS device.
We can advise you and help you choose the best bank for your needs and preferences, and then guide you through the individual procedure of each bank. Due to differences in the procedures, every bank requires its own specific set of documentation for some of the services.
Remote bank account opening is a possibility in most of our banks and generally the requirements for this is a power of attorney and notary signed (in your country) opening forms.