International Bank Accounts in Bulgaria
Open an international bank account in Bulgaria. This product allows you to use the Bulgarian Banking System.
The Advantages are:
- The interest income is tax free.
- Bank Deposits up to 100,000 EUR are 100% Guaranteed by the state.
- The low level of the personal income tax and the corporate tax. This gives you the chance to minimize your tax expenses via re-directing of your international incomes into your Bulgarian bank account;
Bank accounts that can be opened for clients are corporate bank account and a personal bank account. Furthermore work with a number of banks with whom our company is partners with.
You can open a bank account in the following currencies: Bulgarian Lev (BGN), Euro (EUR), US-Dollar (USD).
Although Bulgaria is not part of the Euro zone the local currency the Bulgarian Lev (BGN) is pegged in value to the EUR since 1997. Nonetheless this makes it stable as the European Central Bank controls the EUR.
To sum up there are currently 25 Banks in Bulgaria that are both domestic and international. Additionally the controlling function is with the Bulgarian National Bank. The bank is in charge of regulating the entire banking sector. The Bulgarian National Bank was established in 1879 and is the 13th oldest National Bank in the world. Furhtermore the bank has 3 mandates:
- To act as a supervision department that controls the Bulgarian Banking System
- To act as a monetary board in charge of currency risks coverage
- Along with this the bank cover the total amount of monetary obligations by being in charge of issuing of foreign currency.
As a part of the European Union all deposits up to 100 000 EUR are guaranteed in full by the Bulgarian government.
Furthermore if you have a company in another EU member state and would like to open a Bulgarian Bank account for your company please contact us in order for our attorneys to describe the procedure to you.
The initial consultation is always free of charge for you!