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Opening a BACB Account: how it works in Bulgaria — first-hand

Short answer
Russian citizens can open bank accounts in Bulgaria, primarily at BACB or Tokuda Bank, by providing a passport, INN, and sometimes an employment contract. Property sale proceeds can be transferred via lawyer accounts, counter-flow schemes in Russia and Bulgaria, or SWIFT transfers.

From real experience

Russian citizens may face difficulties opening bank accounts in Bulgaria, but some banks, such as BACB, have been reported to still open accounts.
For property sales by Russian citizens in Bulgaria, several methods exist for fund transfer: 1. **Lawyer's Account Transfer**: Funds can be transferred from the buyer's Bulgarian account to a lawyer's account, and then from the lawyer's account to the seller's Russian bank account (e.g., Raiffeisen Bank in Russia). This service is often facilitated by realtors. 2. **Rubles in Russia, Leva/Euro in Bulgaria**: A "counter-flow" scheme where a Russian buyer pays rubles to the Russian seller in Russia, while a Bulgarian buyer pays leva/euro to the Bulgarian seller in Bulgaria, effectively offsetting the transaction. 3. **SWIFT Transfers**: SWIFT remains an option, but may involve significant exchange rate losses and potential compliance hurdles. 4. **Cash Export**: Another method, though subject to currency export regulations and risks.
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Opening a bank account in Bulgaria (e.g., BACB in Burgas) may require a passport (foreign and domestic), a tax identification number (INN) on a form, and an employment contract.
Expect a fee of around 100 EUR for account opening, with cards ready in about a week. A Bulgarian phone number is recommended for SMS notifications. Real estate ownership is generally not a requirement.
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For non-residents in Bulgaria, BACB (Bulgarian-American Credit Bank) and Tokuda Bank are the most commonly cited options for opening accounts.
Requirements vary by branch; if a specific location demands proof of employment, try a different branch. Tokuda Bank has limited functionality (no SWIFT, restricted card management).
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In Bulgaria, it is possible for non-property owners to open bank accounts.
For instance, Bulgarian American Credit Bank (BACB) is known to open accounts for individuals who do not possess real estate in the country. This facilitates financial operations for expats and residents who are not property owners.
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Individuals participating in Bulgaria's 'wealthy pensioner' program can open a bank account in Bulgaria even while holding a Russian passport and being on a tourist visa.
The Bulgarian-American Credit Bank (BACB) is specifically mentioned as an institution where this process is feasible.
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For BACB (Bank of Athens Bulgaria): Opening an account can take within a day.
Obtaining a card costs extra and takes 3 days, while a free card takes a week. The fee for account review was previously 100 BGN.
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