Open a Cryptocurrency Company in Bulgaria

Investors can open a cryptocurrency company in Bulgaria that provides different services to cryptocurrency users, such as wallets and exchange services. Starting such a company also implies obtaining a crypto license in Bulgaria. Under MiCA this is now a crypto-asset service provider (CASP) authorisation (formerly a VASP registration).

Foreign investors can request the services offered by our law firm in Bulgaria if they want to set up a crypto business.

Registration requirements for crypto businesses in Bulgaria

Crypto companies are regulated by the EU MiCA Regulation and the Bulgarian Crypto-Assets Markets Act (in force since July 2025), and there are certain requirements and steps that need to be followed. Among them, we mention the following:

• such companies can be set up by registering private limited liability companies (minimum share capital EUR 1), although MiCA requires crypto-asset service providers to hold EUR 50,000, 125,000 or 150,000 in own funds;
• before registration, it is recommended to set up a Bulgarian bank account;
• at least one director must be resident in the EU;
• the company must set in place anti-money laundering regulations before being incorporated;
• the last stage implies obtaining a MiCA crypto-asset service provider (CASP) authorisation from the Financial Supervision Commission.

While at least one EU-resident director is needed, the shareholder can be a foreign citizen or company.

The crypto license in Bulgaria

The Bulgarian VASP license has been replaced by the MiCA crypto-asset service provider (CASP) authorisation issued by the Financial Supervision Commission (FSC). After obtaining it, the cryptocurrency company can engage in the following types of activities:

• offering exchange services;
• providing wallet services.

Other activities will require further approval of the Financial Supervision Commission.

Feel free to address our lawyers in Bulgaria once you decide to open a cryptocurrency company.

Documents required to obtain a Bulgarian crypto-asset service provider (CASP) authorisation

Here are the papers that need to be filed with the FSC in order to obtain a crypto license in Bulgaria:

• proof of a legal address in Bulgaria;
• the details of a contact person who must also be established in Bulgaria;
• the business registration number issued by the Trade Register;
• a description of its crypto-related activities;
• a list of the countries in which the services will be provided;
• details on whether the company is part of a group of enterprises or not.

Virtual Asset Service Provider licenses in Bulgaria are now MiCA authorisations: the FSC has 25 working days to check completeness and 40 working days to assess the application, making the procedure subject to the same rules as in the rest of the European Union. You can rely on our Bulgarian lawyers for support in applying for a CASP authorisation.

Cryptocurrency activities for companies in Bulgaria

After obtaining a crypto license in Bulgaria, a company can engage in one or more of the following activities:

• crypto creation services: the development of software, engaging in crypto-mining, and the development of new cryptocurrencies.
• digital wallet: essential for those who own cryptocurrencies, it is used to store, receive, and transfer the currencies 
• exchange: this is a platform designed for users who trade digital currencies that has certain security features.
• payment solutions: efficient solutions for merchants who wish to be paid in cryptocurrencies, allowing usage throughout retail locations and for e-commerce purposes.

It is important to note that crypto-asset services are regulated by MiCA and the Crypto-Assets Markets Act, while for tax purposes the income for individuals who trade in these currencies is to be stated in the annual tax return.

Obligations of cryptocurrency companies in Bulgaria

With respect to anti-money laundering rules, Bulgarian crypto companies must:

• complete customer due diligence and know-your-customer operations for transactions exceeding approx. EUR 15,000 (formerly BGN 30,000);
• notify the Financial Intelligence Directorate on payments exceeding approx. EUR 15,000 (formerly BGN 30,000).

Company formation services provided by our law firm in Bulgaria

Our team of lawyers can help you through the steps needed to set up a cryptocurrency company and obtain a crypto license in Bulgaria. Registration with the Business Register is mandatory for companies and our local lawyers can help you during this process, as the language can be a barrier for foreign investors.

So, if you are interested in immigration to Bulgaria and the establishment of a crypto company in a country with simple registration requirements, this is a good opportunity. You can rely on our local law firm for support in filing for residency in Bulgaria. If you are already a resident, you can rely on us if you want to apply for Bulgarian citizenship.

Contact our law firm in Bulgaria for complete details about the services we provide and to schedule an appointment with us if you want to open a company.