Banking and Currency in Bulgaria
Step by step
How to open a business bank account in Bulgaria
Prepare the documents and information banks ask for, and be ready for a possible meeting with the bank.
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Prepare company documents
Gather the company documents, the owners’ and managers’ passports, and proof of address.
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Describe the business
Prepare a short business description and information about the source of funds, which banks ask for.
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Meet the bank
Many banks may want to meet the owner in person or by video. For a founder abroad, opening an account can take two to four weeks.
The largest banks
Source: Banker.bg: Analysis of the banking sector in Bulgaria at 30 June 2026 (Bulgarian)1
Together with Eurobank Bulgaria (Postbank) and First Investment Bank, the five largest banks hold 76.4% of all assets. The sector earned €1.08 billion in the first half of 2026, 7.25% more than a year earlier.1,2
The system in figures
| Assets | €119.5 billion (31 March 2026) |
|---|---|
| Deposits | €99.8 billion |
| Gross loans and advances | €79.3 billion |
| Non-performing loans | 3.3% of the credit portfolio |
| Capital adequacy | 26.35% |
| Profit, first quarter | €490 million |
Source: Bulgarian National Bank: Banks in Bulgaria, January–March 20262
The Bulgarian National Bank (BNB) supervises the banks; the largest, classed as significant, held 68% of assets.2
From the lev to the euro
- Bulgaria adopted the euro on 1 January 2026, the 21st EU country to do so. Leva and euro circulated together until 31 January.
- The conversion rate is fixed at BGN 1.95583 = €1, used with all five decimals and rounded to the cent.
- Exchanging leva: commercial banks and post offices must change leva until 31 December 2026, free of charge until 30 June 2026. The BNB changes leva free, without limit and with no end date.
- Prices had to be shown in both currencies from 8 August 2025 to 8 August 2026.
Source: European Commission: Report on the euro changeover in Bulgaria, April 2026; PwC Worldwide Tax Summaries: Bulgaria, individual, significant developments; BTA: Cash and non-cash payments after 1 January4,5,6
Opening a business account
Banks ask for the company documents, the owners’ and managers’ passports, proof of address, a short business description and the source of funds. Many banks have tightened remote account opening and may want to meet the owner in person or by video, which can take two to four weeks for a founder abroad.7
Cash of €10,000 or more must be declared when entering or leaving the EU through Bulgaria.8
Frequently Asked Questions
What currency does Bulgaria use in 2026?
Bulgaria uses the euro, which it adopted on 1 January 2026. The lev was converted at the fixed rate of BGN 1.95583 to €1, using all five decimals and rounding to the cent.
How much are bank deposits guaranteed in Bulgaria?
Bank deposits in Bulgaria are guaranteed up to €100,000 per person per bank, and this is the applicable guarantee limit for depositors in Bulgaria.
What documents do I need to open a business bank account in Bulgaria?
Banks in Bulgaria ask for company documents, the owners’ and managers’ passports, proof of address, a short business description and information about the source of funds. Many banks may also want to meet the owner in person or by video; opening an account can take two to four weeks for a founder abroad.
Where can I exchange Bulgarian leva after the euro changeover?
Commercial banks and post offices in Bulgaria must exchange leva until 31 December 2026 and do so free of charge until 30 June 2026. The Bulgarian National Bank exchanges leva free, without limit and with no end date.
Sources
- Banker.bg: Analysis of the banking sector in Bulgaria at 30 June 2026 (Bulgarian)
- Bulgarian National Bank: Banks in Bulgaria, January–March 2026 (PDF)
- Bulgarian Deposit Insurance Fund
- European Commission: Report on the euro changeover in Bulgaria, April 2026 (PDF)
- PwC Worldwide Tax Summaries: Bulgaria, individual, significant developments
- BTA: Cash and non-cash payments after 1 January
- Global Law Experts: How to form a company in Bulgaria (EOOD and OOD), 2026
- International Trade Administration: Bulgaria, business travel
Figures checked 13 October 2026. Prepared by InvestBulgaria for general information. It is not investment, tax or legal advice; please confirm details with a qualified adviser before acting.
