Bulgaria Guide: Money
Our money guide provides information on bank accounts, money exchange, credit and debit cards and money transfers. If you need to open a bank account, we will explain how to do it - step by step.
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Banking
Banks and accounts in Bulgaria
After the national banking crisis of the mid-’90s, a Banking Consolidation Company was set up in 1996 to restructure and consolidate Bulgaria’s banking sector. All state-owned banks were privatised in 2000, when smaller commercial banks were either taken over by larger Bulgarian banks or bought out by foreign banks.
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Mortgages
Financing your home in Bulgaria
To finance your purchase of a home in Bulgaria, you have three main options: you can pay outright using resources such as savings, you can release equity in your current home by remortgaging, or you can take out a foreign or Bulgarian mortgage on your Bulgarian property.
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Important insurances in Bulgaria
Building & Public liability insurance
It’s wise to take out building insurance covering damage due to fire, water, explosion, storm, earthquakes or other natural catastrophes. Also it’s advisable to take out a public liability insurance for you and any family members.
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