Bulgaria is among the countries that have almost everything we love. Not to mention the beautiful mountains, gorgeous national parks, and the amazing Black sea among others. Therefore, if Bulgaria is a destination you are deeming to be your place of work or home for some time, chances are you will require details about how to open a bank account in Bulgaria.
As long as you have the required details, opening a bank account in Bulgaria is an easy task. The country has a thriving and accommodative banking industry.
The required documents and details
• A valid national ID or passport
• Current email address and mobile phone
• An address which is required for communication purposes
• The least deposit amount which is necessary to activate the bank account
• Documentation of good conduct
Making an appointment to open a bank account is not necessary. This is because most banks in Bulgaria include a ticket queuing method. Hence, you can get to the bank, queue, and wait for your turn. It is worth noting that the process is not streamlined and requires patience.
With the mention details, the bank account is made active. Afterward, you are issued with a slip containing your online login information on the spot. In addition, you can collect the bank card from the bank or it can be sent to your address.
Advantages of Opening a Bank Account in Bulgaria
There are many advantages related to opening a bank account in Bulgaria. To begin with, obtaining a bank account in the country can give you the right to use all the accomplishments of European banking. Additionally, the national currency plays a significant role in ensuring that working with bank accounts in the country is safe and risk-free.
Besides, when you receive money in a currency that is different from that of your account, the cash is substituted into your account’s main currency automatically. Therefore, having a bank account in Bulgaria guarantees you stress-free and secure transactions.
It Helps to Hire a Lawyer
The language barrier is the major obstacle you are likely to face during the process if you are a non-resident. However, it can be simple if you have a translator to help you in interpreting documents which in most cases are not in English.
If you don’t have a translator, don’t worry as with the right documents, you can still have your account ready and working. In this case, you can hire a lawyer to assist you in opening a bank account in Bulgaria.
Most lawyers have long term experience and have a positive record with clients when it comes to the application process. Their services are affordable and satisfying. Therefore, you can engage them if you require opening a business or a personal bank account at https://company-bulgaria.com/opening-a-bank-account-in-bulgaria/
Select a Bank with Nearby Branches
When selecting the bank to open, it is important to consider the accessibility to their ATM’s and branches. Most day by day banking is made online. However, charges for making use of ATMs outer banking facilities are common.
In addition, payment of bills is frequently made through your ATM. So, selecting a bank with branches close by is necessary. In Bulgaria, UniCredit Bulbank, Postbank, Raiffeisen, and DSK are some national banks worth considering.
Bulgaria is an incredible country that is friendly for everyone, especially if you are looking at starting a business abroad. Their taxation laws and procedures are friendly to businesses, and everyone has a shot at thriving in their economy. The peace and stability of Bulgaria’s government mean that one can have the optimism of growing their business idea exponentially.
It is not complicated to open a bank account in Bulgaria as elaborated in the article above. However, when one thinks that they would face a challenge owing to the language barrier, it helps to seek the help of an attorney. They will ensure that one gets exactly what they are looking for in the bank of their choice.