Set up a Fintech Company in Bulgaria

If you want to start a company in Bulgaria and you are interested in the IT sector, you may solicit help and guidance for incorporation from our specialists in opening a business in Bulgaria.

What are the steps in opening a fintech company in Bulgaria

Ready to start your fintech company in Bulgaria? Here are the registration steps to consider for this kind of business:

• the limited liability company is the optimal structure for establishing a fintech company in Bulgaria. A sole proprietor limited liability company is also an option;
• verification and reservation of the trade name is mandatory;
• EUR 350,000 is the required minimum initial capital for a fintech company in Bulgaria, like an e-money institution, which represents the cost for a financial license;
• the company must have an Anti-Money Laundering Compliance Officer in charge of implementing the mandatory policies. Know-Your-Customer policies are also required;
• if you want to develop a crypto company, you must obtain a MiCA (CASP) licence from the Financial Supervision Commission.
• the company’s Articles of Association must be drafted in the Bulgarian Commercial Register;
• the fintech companies in Bulgaria must have experienced directors. There are no local residency requirements for these directors.

In order to correctly prepare the documents and respect the conditions as specified by the Bulgarian laws, it is best to ask our company incorporation agents in Bulgaria for support and advice in these situations. We can also help you if you need software for recovering double payments in your company.

How long can a fintech company be registered in Bulgaria?

Providing licensed financial services through a fintech company requires around 3-6 months to get all the approvals and start the operations. In certain cases, depending on the license, the time frame for incorporation may be lower. But we advise you to collaborate with our Bulgarian agents in order to receive all the company formation services required for starting a business. We can act as company representatives and deal with all the formalities imposed by the local authorities.

What are the features of the fintech sector in Bulgaria?

If you want to open a fintech company in Bulgaria and want to know a little about this sector, the following information may be useful to you:

• There are around 150-180 fintech companies in Bulgaria, with over 12,000 employees.
• The fintech sector of Bulgaria generated over EUR 1.3 billion in revenue during 2022-2026.
• Bulgaria’s Financial Supervision Commission has started implementing the Fintech Strategy 2025-2027. The authorities are focusing on implementing e-invoicing, which has already started in many countries of the European Union, plus other important digital projects.

Setting up a company in Bulgaria and operating in the fintech sector is easy if you decide to work with our local specialists. We also provide our team of accountants to benefit from a good start in business.

What are the activities of fintech companies in Bulgaria?

Opening a company in Bulgaria will pretty much depend on the business environment and the fields in which success can be achieved. With a complete focus on technology implementation in different sectors, Bulgaria is open to all kinds of investments. 

Fintech companies are appreciated business forms because they develop in a fast manner and they can operate in the financial sector, much appreciated internationally. Electronic payments, online banking services, online money exchange, or secured payment platforms are among the services a fintech company can offer in Bulgaria. Please consider that a licence issued by the Bulgarian National Bank (payment and e-money institutions) or the Financial Supervision Commission (investment and crypto-asset services) is necessary for opening your business.

Additional information about how you can set up a fintech company in Bulgaria can be obtained from our team of company incorporation representatives in Bulgaria, so please contact us.