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I am interested in this topic too.

In our case, we have a registered company in Bulgaria but do not reside there (we live in the US) so Revolute asked for proof of physical presence, which we weren't able to provide, and they didn't allow us to open an account with them (the company is registered on our attorney address, that wasn't sufficient), and revolt representative was explicit that at least one owner must reside in Bulgaria.  We also tried traditional banks, such as Uni Credit Bank and DSK through the lawyer and they didn't accept our application to open a bank account.

Now, does anyone know any digital bank where we can open biz bank account, preferably with multiple currencies, one of them being Serbian dinars, since we will operate in Serbia? thank you ,and sorry i am jumping with questions in your post:)

@CarlS1986

Welcome to the expat.com forum and good luck with your move to Bulgaria!

I have personal accounts with Revolut and Wise and I like them both (but prefer Wise). I have a Wise business account for my UK company, and it was very easy to open. They had no problem with a company in a different country to where I'm based (but they wanted my proof of ID and address, of course).

@Iva777

I think Wise Business are OK with your company in Country A and owner in Country B. But they want the owner's documents (proof of ID, such as US passport, and proof of address, such as a recent US bank account statement). Probably worth trying.

@CarlS1986 Icard also offer business accounts if you live in or have a residence permit for Bulgaria or other EEA country.

I have a personal account with them so can't vouch for the business side of things though it seems relatively simple to open and seems to have fewer fees than traditional banks.

Hi,

Thanks for the answers so far, I currently live in the UK and will for around the next 10 years, but I'm looking at buying a property as a holiday home for now. The business is just for the house buying process, not actual business needs.

I have a personal Wise account. It doesn't give an actual Bulgarian bank account number the way it does for many other currencies, but does allow holding a balance in BGN and making and receiving BGN payments. It's worked well for me for personal use, ordering goods online in Bulgaria, using cash machines, paying bills online.

I don't think Revolut or Wise will be enough for company formation. I haven't yet found any bank that offers a Bulgarian bank account number unless one is either resident in Bulgaria or opens a fee paying account with the assistance of a Bulgarian. When I bought my house, I paid the estate agent to do the company set up, which included opening a business bank account, as that's a requirement to register the company. But once the company was registered I closed the account on the estate agent's advice, as it charged a monthly fee and it would be five years before I'd need a bank account to apply for the D visa.

Considering how much work is involved even if one is fluent in Bulgarian (I'm far from that!), I consider paying the estate agent or a business offering company set-up is money well spent.

Revolut rejected me and refused to specifically say why. They were asked multiple times. I demanded to know why I was being rejected. I was informed my application was flagged and sent to the upper mananagement for review and it was a final decision that I would not be provided an explantion for.

Suggest you use Wise.

The only problem with Wise is, you will have to upload your photo while holding your passport 500 times. And you will cry doing this. But you must do it before they will approve your application.

That is the only problem with Wise. So get ready to take allot of photos.

Second the 500 photos and crying with Wise. I love them now I have an account, but didn't love the process to open the account one bit!

For incorparation of company you need so called "cumulative" account. And this is not offered by revolut in Bulgaria, as far as i know. But paysera has it and is almost same like revolut or wise

Revolut is now up and running in Bulgaria, but unlike UK accounts I dont think its deposited funds are guaranteed.

One advantage is that they will now post your UK account cards from within BG, my new joint account ones arrived in five days by Bulgarian post to my village.

Also main Bulgarian banks paperwork does not need to be notarised or translated, i think you will have great difficulty in getting anything from Revolut notarised as they are in effect a paperless bank.

@grahamstark1 Lithuania bank deposit guarantee is 100.000.00 eur

@Anastasija_gust

Its ok I have UBB business and personal, and Revolut and Barclays in the UK.

I think the original posters main issue will be what is acceptable and easier in Bulgarian Law.

Hi,

I surprised to hear that Revolut rejected the application.

If you are a Turkish citizen and your findeks credit score is high, then Ziraat Bank can open the account in 5 working days, regardless of whether you have residence in Bulgaria or not.

I don't know for other countries.

If anyone find away for it, please let us know. Maybe Paysera will be an option.