Company Registration in Bulgaria

Opening a corporate bank account in Bulgaria requires standard KYC/AML procedures, including identification of shareholders and beneficial owners, proof of address, and business activity description. In many cases, banks require the physical presence of the director or owner for identity verification, although some banks or fintech institutions may allow remote onboarding. The process typically takes 1–3 weeks, depending on the bank and complexity of the structure.

Non-residents can open personal bank accounts in Bulgaria, but banks usually require in-person verification. Required documents include a valid passport, proof of address, and sometimes proof of income or source of funds. Remote account opening is limited but may be possible through certain fintech providers. Compliance checks are standard and can take several days to a few weeks.

Substance Requirements Bulgaria does not impose strict substance requirements. A local registered address is mandatory, and a local director is not required (foreign directors are allowed). However, for tax residency and banking purposes, it is recommended to have some level of local substance, such as a local office, accounting services, or occasional presence. Employees are not required unless the business activity demands it.

Double Tax Treaty Network Bulgaria has an extensive double tax treaty network with over 70 countries, including most EU member states, the UK, Switzerland, UAE, and many Asian jurisdictions. These treaties help eliminate double taxation and reduce withholding taxes on dividends, interest, and royalties, making Bulgaria suitable for international structuring and cross-border operations.