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@D H16

I believe that for retirees, specifically, you need proof of a Bulgarian bank account that will receive your pension.

@D H16

Additionally, you need proof of pension, proof of address, and proof of health insurance.

@D H16

Ideally, you would have done all of these on your recent trip. Some can definitely be done remotely, but I think you will struggle to do everything without coming back. However, I suggest you have a consultation with a Bulgarian immigration attorney as they'll know exactly what you need, and can deal with much of the necessary paperwork for you.

@D H16

I am not sure but openig a virual on line account with [link moderated] is a way to address the issue . I am informed paysera virtual accounts opening can lead to a Bank account opening in BG.

Please do research on it. [link moderated]

All the best !

@PSSA

The links appear to have been moderated (standard for newer members) please would you share the names of the banks you're referring to.

I'd be very interested to know, because so far none of the non-Bulgarian online banks I've looked at offer actual Bulgarian bank accounts. One can hold a BGN balance and do transactions in BGN, but that's not enough to meet immigration requirements. All the Bulgarian banks or fintechs I checked that offer online accounts require residency to open an account, so we're back to the same Catch-22!

It would be good to know if there is an easier way to do this!

FWIW (if anything nowadays) when I first came to Bulgaria it was pretty much impossible for any foreigner to open a bank account here.  What my now-wife and I had to do was open an account (or actually several) in her name and then add me as a secondary account holder, via a POA giving me full authority to conduct any and all transactions.  With that, I could then ask for a bank statement in my name to keep the MBP happy.  That probably isn't much use to most members without a Bulgarian connection or a partner who's already a resident account holder - but it may help someone at some time..

@janemulberry

Please google about Paysera . That I believe is an indirect way to opening a BG bank accounnt as they seem to have some internal arrangement.

@PSSA

You need an account which has a real Bulgarian IBAN - I doubt that MVR will accept anything that's "indirect"..

@PSSA

I did research Paysera when it (along with a couple of other neo-banks/fintechs) were first mentioned here as options for a "Bulgarian" bank account. At that time, it was not going be enough to meet the Visa D requirements for a Bulgarian bank account.

Excellent if that has changed, but it won't work in this context unless they specifically provide you with an individual Bulgarian bank account number with a Bulgarian bank. Is that how Paysera works?

An account that will hold a BGN balance and can accept and spend in BGN is not enough to get the Visa D. I already have that with Wise. Sadly, it's not enough. Once I have the Visa D, my local immigration office will accept my Wise balance as proof of funds, but the retirement visa specifically requires that the pension be paid into a Bg bank account. Paysera say they provide a virtual Bulgarian IBAN, but is that enough? It also appears from their description of the process to get a Bg IBAN that money needs to be paid in from an actual Bulgarian bank.

Very happy to be wrong on this, as I am not looking forward to trying to open an account with an actual Bg bank! Please try using a Paysera IBAN to apply for the Visa D and report back if it works!

I am returning to BG to pick up my house documents and have done a lot of research on the banks and can’t find anything that can be done apart from face to face. I am hoping that I can open the account where I opened the company account and take a translator as none seemed to speak any English. That is one in Byala.

@jeanmandredeix

Yes, it's definitely a face-to-face job. Also, as others have indicated, Bulgarian banks are now a bit difficult with non-residents, so don't be disheartened if it takes a few attempts (different banks, even different branches of the same bank). As far as I know, it's due to stricter bank regulation/KYC/AML, rather than any legal prohibition on non-residents/foreigners.

I did something similar last year when I attempted to open an account for my father, using his POA (he's 97, so dragging him to various banks was not really practical). I spent the day wandering around Plovdiv centre to 5 different banks, and even 2 branches of the same bank (first said no, 2nd said yes, but then took months without finishing the task). Then I tried the OBB branch next to my apartment and they were as nice as pie about it.

My guess is that taking a translator/helper is a good idea. As is taking a bunch of KYC documents. In particular: your proof of address in Bulgaria (i.e. Notary Act for your house), proof of address in UK (recent Council Tax bill, etc.), and your proof of pension letter (as this shows them why you want a Bulgarian account to pay it into). Some even ask about our UK tax number (so the online proof of NI number letter is useful).

@PSSA

I owe you an apology for dismissing what you said about Paysera! Sorry! It seems I may have been wrong and you could be correct. I have found an immigration lawyer recommended by a longstanding member of the forum also suggesting using Paysera for the retirement d visa bank account:

A workaround to this challenge is to open an online account with a financial institution like Paysera. Although Paysera operates as an online bank, not a physical one as stipulated by law, it is serviced by EuroBank Bulgaria AD, a licensed Bulgarian bank. By opting for Paysera, you can obtain a Bulgarian IBAN number, in addition to a Lithuanian IBAN.

I don't know for sure if it will work but may be worth trying for anyone running into issues with opening a bank account at a physical bank. Has anyone used Paysera successfully for this?

Of course, BG Immigration like to make up rules as they go along, but it's worth a shot if only to let others know how it went... 😊

LOL! Well, I'd be willing to test it, but February 2027 is still a fair way off.

I might give it a bash as we were going to attempt to open an account at the bank where we set up the company but the lady we saw was quite stroppy but there was another one there that was much better.

I hope it works for you!

@janemulberry

Interesting post. The info comes from an attorney who's usually pretty reliable.

I tried it today, just for giggles...

I checked my Revolut and Wise accounts. Both allow a BGN balance/sub-account, but both have GB IBANs. So neither of these would be acceptable.

I downloaded Paysera and completed the ID and KYC process. It takes a couple of hours to be (partially) approved. Full approval subject to a video ID session. The account has an LT (Lithuania) IBAN. There was no mention of BG IBAN, so I contacted support. They said "Unfortunately, we do not offer Bulgarian (BG) IBANs for personal accounts at this time." The "at this time" might be promising, especially as they do seem to offer BG IBANs for company accounts. However, as of today, this option also seems to be off the table.

Thanks for testing it out!

So it might be an option for someone needing a Bg IBAN for a company, but not an individual, especially for the retirement visa. I wonder why that recommendation on the website was specifically relating to retirement visas.

Am I correct that Immigration want the applicant to get their pension paid directly into a personal Bg bank account?

@janemulberry

Never mind that. We are all in exploration /discovery mode.  Discussions are always good through such platform

@janemulberry

As I understand it too you do need your pension paid into a BG account.

Can it not be paid into a Wise account then transferred into a BG account?

@SimCityAT

That was what I was hoping. But it seems not. 😞 And there's still the challenge of opening a Bg bank account, either way.

@SimCityAT

I have mine paid into a UK account, then I transfer it to Wise.  I don't transfer it to a bg account, as I use Wise to pay for everything here, as it's so much easier, but then, I arrived in BG prior to Brexit, so I think the rules were different then. Saying that, I have two BG accounts, which I had to use when buying property.

I use my Wise card for everything while I'm here, too. Unfortunately post -Brexit retirement visas require a Bg bank account. I don't think anyone has discovered a successful workaround yet. 😞