Personal accounts: Bulgaria

Updated 6 October 2026

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Bulgaria has been fully in the Schengen area since 2025 and in the euro area since 1 January 2026, so an account at a Bulgarian bank is now an ordinary euro account inside the EU: transfers across Europe are fast and cheap, and the card works like any European card. Banks are supervised by the Bulgarian National Bank and open accounts for non-residents on a passport, but each bank has its own policy.

Can you open an account in Bulgaria without residence or a visit

Residence is not mandatory: some banks open an account for a non-resident on a passport if the purpose is clear - buying a home, study, work or business in Bulgaria. Without such a reason the bank may refuse without explanation. An in-person branch visit is usually required. Foreigners legally resident in the EU are entitled to a basic payment account under EU rules, a good start for those who already have status.

Which banks accept foreigners

Large banks belonging to European banking groups apply strict checks and more readily open accounts for those with residence or a home in Bulgaria. Local banks with Bulgarian capital consider non-residents individually and are sometimes more flexible about the account's purpose. Some banks ask for the foreigner's personal number, assigned with residence. Banks publish their tariffs for non-residents, so they can be compared before the visit.

Documents for the account

Timelines and account costs

With documents ready the account is opened in one visit, and the check takes from a few days if the bank has questions about the money. Minimum balances at Bulgarian banks are usually small, but non-residents pay separate fees for account maintenance and transactions. Euro transfers within the EU now follow common European rules, and the main costs arise on transfers outside the EU and cash withdrawals abroad.

A euro account and deposit protection

On 1 January 2026 Bulgaria switched to the euro, so an account at a Bulgarian bank is now an ordinary euro account in the euro area. Deposits are insured by the Deposit Guarantee Fund up to €100,000, about $112,100, per depositor per bank. The bank reports non-residents' accounts to their home tax authorities under automatic information exchange.

Bulgaria's flat 10% income tax

A Bulgarian tax resident pays 10% on worldwide income, a non-resident only on Bulgarian income. You become resident if you spend more than 183 days in the country in any 12 months, with days of entry and exit counted as days in the country, or if your permanent address or centre of vital interests is in Bulgaria. Status is confirmed by a National Revenue Agency certificate.

Tax data exchange

As an EU country, Bulgaria reports non-residents' accounts to their home tax authorities under automatic exchange of information and intra-EU rules. From 2027 crypto-asset data exchange under the new international standard begins as well.

Many countries that tax residents on worldwide income also require them to declare foreign accounts and the income on them, sometimes within weeks of opening the account. Check the rules of your country of tax residence before the first transfer: a missed notice usually costs more than the account itself.

Why a bank may refuse

• No grounds for stay in Bulgaria and no clear purpose for the account.
• Large inflows from abroad without source documents.
• Payments linked to sanctioned countries.

What we do

• We choose a bank for your situation and status.
• We prepare source of funds and account purpose documents.
• We help obtain a tax residence certificate if you are moving.

The account and moving to Bulgaria

Since 2025 Bulgaria has been fully in the Schengen area, and since 2026 in the euro area. A Bulgarian residence permit lets you live in the country and travel to other Schengen states for up to 90 days in any 180; work or long stays elsewhere in Schengen need that country's own permit. A personal account at a Bulgarian bank is best opened right after getting status, to receive income and pay taxes in euros.

This topic in other countries

• Account for non-residents: Serbia
• Account for non-residents: Montenegro
• Account for non-residents: Cyprus
• Account for non-residents: Germany
• Account for non-residents: Latvia
• Account for non-residents: Lithuania
• Account for non-residents: Estonia
• Account for non-residents: Georgia
• Account for non-residents: Turkey
• Account for non-residents: Armenia

For this country: moving to Bulgaria, Bulgaria residence permit, taxes in Bulgaria, Sofia guide.

All countries and bank requirements are in our overview of opening a bank account abroad in 2026.

What we do

• Personal account - opening assistance

See also

Company formation · Business account · Investment property · All country programs

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