Crypto license in Bulgaria

Bulgaria is a great place for starting and growing a cryptocurrency business because of its positive economic environment, flexible approach to crypto asset regulation, and accessible legal infrastructure. 

Being part of the European Union means Bulgaria is stable economically, making it a good spot for both new and growing crypto companies. Bulgarian cryptocurrency legislation provides excellent conditions for crypto business, from startups to large companies aiming to expand their international presence.

Benefits of Obtaining Bulgaria Crypto License 

• Low Taxes: Bulgaria stands out among European countries by offering some of the lowest tax rates, making it a profitable platform for launching a crypto business and obtaining a cryptocurrency license.
• Simple Business Registration: The process of obtaining a cryptocurrency license is simpler and quicker than in other EU countries.
• Ease of Starting and Running a Crypto Company: Bulgarian legislation simplifies the process of company registration and management, making it economically beneficial and straightforward to start your crypto business.
• Functionality: Crypto licenses in Bulgaria cover a broad range of services, including cryptocurrency to fiat currency exchange, trading between one or more virtual assets, as well as accepting, holding, and transferring virtual assets for transactions.

Requirements for Obtaining a Cryptocurrency License in Bulgaria

• The company must have a contact person with Bulgarian residency responsible for AML issues and must maintain constant communication with the local AML body.
• The company’s charter capital must be at least 2 BGN (approximately 1 EUR) per partner (shareholder) as per legislation, but an amount corresponding to at least six months of operational expenses is recommended.
• A virtual office presence in Bulgaria is sufficient for company registration.
• Founders and directors do not need to be Bulgarian residents.
• The company should appoint a local Bulgarian resident representative for AML matters who will maintain continuous communication with the local AML authority.
• A minimal charter capital of just 2 BGN (about 1 EUR) per partner (shareholder) is required, but an amount equal to at least six months of minimum operational costs is recommended.
• Registering your crypto company with just a virtual presence in Bulgaria offers convenience.

How to get  a Cryptocurrency License in Bulgaria

The process of obtaining  turnkey cryptocurrency license in Bulgaria takes four months and involves several key stages:

• Documentation Preparation and LLC Registration in Bulgaria: This stage typically lasts about three weeks, depending on the timeliness of all required document submissions, provision of necessary information, and the registration authority’s workload.
• Document Collection and Cryptocurrency License Application Submission: This phase also lasts approximately three weeks, depending on the speed of document provision, the need for additional information, and the processing time.
• Application Review by the National Revenue Agency of Bulgaria: This process takes about two weeks and may vary based on the workload, requests for additional information, and the decision-making speed.
• Issuance of the Cryptocurrency License and Entry into the Registry of Crypto Companies: The duration of this stage is roughly two weeks, depending on verification procedures, workload, and additional requirements.
• Corporate Account Opening and Business Launch: This process requires at least three weeks and depends on the identity of the founders and the planned business model.

Following these processes, you will receive a fully operational crypto company in Bulgaria, authorized to provide cryptocurrency exchange and storage services.

If you want to obtain a cryptocurrency license in Bulgaria, consider consulting with the experienced lawyers at SBSB Fintech Lawyers. Since 2013, we have been providing comprehensive legal support to projects in the FinTech and Crypto sectors, offering optimal solutions that consider each client’s individual needs and business model specifics.