Here is a brief overview of currency and financial regulations in Bulgaria.

Common financial information

The official currency of Bulgaria is the Lev (BGN). Bulgaria is a country that operates under a currency board. There is a fixed exchange rate for 1 Euro = 1.95583 Lev.

Payments in the country are mainly in cash, by bank transfers or by credit cards (VISA, Master Card, American Express and others).

Unlike other countries in Bulgaria, payment by cheque is not so widespread. Most of the banks perform cashing in (cashing) of cheques, denominated in all convertible currencies. But these payments have very limited application due to high fees and deadlines for cashing (average from 30 to 60 calendar days).

Cash payments limits

According to the current Limitation of Cash Payments Act, payments on the territory of the country are carried out by bank transfer or deposit in a payment account where:

  • their value is equal to or in excess of BGN 10 000 (or their equivalent when payments are made in foreign currency);
  • the value is below BGN 10 000, but they are part of a financial consideration under a contract the value of which is equal to or in excess of BGN 10 000.

International Money Transfers

When carrying out bank transfers in foreign currency, Bulgarian banks require the following documents:

  • For payment of amounts up to BGN 30 000 – transfer order;
  • For payments in foreign currency exceeding BGN 30 000 – transfer order declaring the grounds of the transfer, documents evidencing the reason and amount of the transfer or payment and declaration of origin of funds;
  • If the amount of payment is equal to or more than the equivalent of BGN 100 000 – in attachment to those documents pointed in the preceding paragraph, shall be submitted and statistical form according to a model of the Bulgarian National Bank (BNB).
Moreover, there is a registration regime for all transactions between domestic entities and foreign entities for providing or receiving a financial credit in an amount equal to or exceeding BGN 50 000 or its equivalent in foreign currency.

In addition, any resident legal person shall submit a declaration to the Bank within 15 days after the transaction.

Bulgarian banks perform SEPA credit transfers (Single Euro Payments Area). International currency transfers for countries belonging to the European Economic Area are made, using the SHARE option. In this case fees charged by the correspondent bank are carried by the sender. All further costs are carried by the beneficiary.

Electronic cash register with fiscal memory

Any person, who conducts business in Bulgaria, is obliged to register and account the sales of goods or services to or by a commercial property by issuing fiscal receipts by fiscal device (electronic cash register with fiscal memory), except when payment is made by bank transfer. I.e. through the cash register must be registered each sale of a product or service in a commercial property paid in cash, check, voucher, a bank credit or debit card or other payment instruments substituting money.

For more information about the currency and financial regulations in Bulgaria please do not hesitate to contact us by e-mail: or call us on: +359 2 851 72 59.

Send An Inquiry

Contact Us