International Bank Accounts in Bulgaria
Opening of international bank accounts in Bulgaria. This product gives you the opportunity 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 taxgives you 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 with a number of banks with whom our company is partners with.
Bank Accounts can be opened in the following currencies: Bulgarian Lev (BGN), Euro (EUR), US-Dollar (USD).
Although Bulgaria is not yet part of the Euro zone its local currency the Bulgarian Lev (BGN) is pegged in value to the EUR since 1997 therefore making stable as the EUR is controlled directly by the European Central Bank.
There are currently 25 Banks in Bulgaria that are both domestic and international. The controlling function lays with the Bulgarian National Bank that is in charge for the regulation of the entire banking sector. The Bulgarian National Bank was established in 1879 and is the 13th oldest National Bank in the world. The bank has 3 mandates:
- Acts as a supervision department controlling the entire Bulgarian Banking System
- Acting as a monetary board in charge of currency risks coverage
- Covering 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.
If you have a company in another EU member state and wish 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!