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A Forex license - Bulgaria

Bulgaria is a state in Southeast Europe. It is a member of the European Union. Obtaining a Forex license in Bulgaria has many advantages:

  • the advantageous geographical location;
  • a multilingualism of the country's population (Bulgarian, Russian, English);
  • the access to markets of the EU, Central and Eastern Europe;
  • Bulgaria has well-established relations with countries of the European Union;
  • a stable, predictable economy of the country;
  • a highly skilled labor force and not very high salaries;
  • those, who wish to obtain licenses in Bulgaria, given the opportunity to carry out their activities in all countries of the European Union;
  • the lowest corporate tax in the EU, only 10%;
  • an income tax rate is 10%;
  • the impressive experience in issuing Forex licenses;
  • government fees and legal costs are significantly lower, than in other jurisdictions (in particular in Cyprus);
  • the term for obtaining a Bulgarian license is about 4 months.

The state body responsible for issuing a license in Bulgaria is the Bulgarian Financial Supervision Commission. Forex companies, wishing to obtain a Bulgarian Forex license and operate in Bulgaria must be registered as an investment intermediary and licensed by the Bulgarian Financial Supervision Commission. This government agency operates under the auspices of the European MiFID. Forex companies must comply with all established MiFID rules with some specific Bulgarian requirements.

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Primary requirements:
  • the minimum authorized capital, when registering a commercial firm in Bulgaria, is BGN 1,500,000 (about 760 thousand euros) for obtaining a license of a financial intermediary in Bulgaria or BGN 250,000 (about 125 thousand euros) for brokerage;
  • the company must have at least two directors with a higher education in finance, economics, as well as having a successful experience in the financial sector.
  • individuals, holding leadership positions, cannot be related (cannot be relatives, spouses, co-workers in another company).
  • a non-resident can be a director;
  • the company must have the necessary software, equipment for the successful provision of services to customers;
  • the company must provide a detailed business plan, including a forecast of expected revenues;
  • the company must have a registered office in Bulgaria.
The Financial Supervision Commission issues licenses to brokerage companies (such two types):
  • A brokerage license allows you to receive money and securities of traders, as well as offer services:
  1. an acceptance/transfer of financial orders, including intermediary services regarding the signing of agreements;
  2. providing advice to clients regarding investments;
  3. a fulfillment of customer orders;
  4. a portfolio management.

The minimum authorized capital for this license is BGN 250,000 (about 125 thousand euros).

  • A full license is a license of a financial intermediary (the minimum authorized capital should be BGN 1,500,000, about 760 thousand euros).
The licensee must submit the following documents:
  • a notarized copy of the passport;
  • the utility bill (last 3 months);
  • a copy of the educational certificate in English;
  • a company business plan;
  • 5 year financial forecasts;
  • a balance sheet with a description of the forecast.

With the help of our consultants you can register a company in Bulgaria, open an account with a bank in Bulgaria and obtain a brokerage license in Bulgaria. Contact us by phone or Skype, and we will provide you with more detailed information.

  • The information outlined in the article is actual at the time of its publication.

  • Please refer to our specialists for checking possible solutions for your business.

  • Still have any questions?

    Fill out the form or contact us as you find convenient: skype, telegram, etc. Our experts will help you resolve the issue.

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