Foreign companies /legal entities/ may open accounts in Bulgarian banks following the relevant requirements. For the convenience of our clients we have made a summary of the documents that shall be presented before opening the account:
- extract from the register of the country where the entity is registered or a similar document from which it is apparent that the entity is duly constituted as required by law for registration and it is not in bankruptcy or liquidation;
- a copy of constituent act or company agreement (eg. Statutes, Articles of Association, Memorandum of Association, By-laws, etc.), which establish the power to dispose with its property, procedure and manner of representation;
- the identification of the legal representative, the attorney (notarized power of attorney, by which he/she is empowered to appropriate action) and the actual owner;
- if the subject has a place of business in the country – a certificate of registration in BULSTAT Register;
- if the representative claims the company has no place of business in the country, complete declaration form, which declares that it does not develop business in the territory of Bulgaria as a “place of business” or “base”;
- for USA citizens – necessary checking and possible completing of FATCA declarations.
- In the event that the money in the account shall be disposed by authorized person – a notarized power of attorney by which he/she is entitled to dispose with the money in the account.
The documents under items 1 and 2, as well as power of attorney – if any will be used – should be certified, apostilled and translated into Bulgarian. The translation shall be done by authorized by the Ministry of Foreign Affairs of the Republic of Bulgaria translation agency and certified by the sector “Legalization and certification” in “Administrative service of Bulgarian and foreign citizens (AOBCHG)” of the Ministry of Foreign Affairs of the Republic of Bulgaria.
If you have any questions оr need assistance for opening bank account in Bulgaria, do not hesitate to contact us.