Bulgaria EMI and PI License in 2026: BNB Complete Guide
A 2026 deep dive into the Bulgarian EMI and PI licence: Bulgarian National Bank (BNB) authorisation, EUR 20k-EUR 350k capital, 3-month statutory clock, Eurozone-adjacent Balkan market and PSD3 transition.
Bulgaria on the brink of the Eurozone
The Bulgarian National Bank (BNB, Българска народна банка) is the supervisor for credit institutions, PIs and EMIs. The FSC (Financial Supervision Commission) covers securities markets and investment firms.
Bulgaria formally joined ERM II in 2020 and is on the path to Eurozone membership. The 2026 picture: Bulgaria adopts the Euro from 1 January 2026, completing full Eurozone integration. For PIs and EMIs this means direct access to TARGET2, SEPA Instant participation on equal terms with other Eurozone states, and a stronger pitch for pan-EU fintech products.
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Request demoCapital, scope and process
- PI capital. EUR 20k / 50k / 125k per PSD2 Article 7.
- EMI capital. EUR 350k per EMD2.
- Small PI. Domestic Bulgaria regime under Article 32 PSD2.
- Incorporation. Bulgarian OOD (limited) or AD (joint-stock), registered office in Bulgaria.
- File preparation. Business plan, governance, AML/CFT (Bulgarian Measures Against Money Laundering Act), safeguarding, ICT/DORA, outsourcing register, fit-and-proper files.
- Submission. Electronic BNB portal. Primarily Bulgarian-language, with English annexes accepted for technical content.
- Statutory clock. 3 months from complete file per PSD2.
- Real timeline. 6 to 10 months end-to-end for a PI, 8 to 12 for an EMI.
- Substance. At least two directors, at least one Bulgarian-resident; real Bulgarian office; local AML officer.
Ship a Bulgarian EMI or PI product with Crassula
Crassula provides the core-banking platform aligned with BNB expectations: ledger, Bulgarian IBANs, cards, SEPA and SEPA Instant (Eurozone-ready from 1 January 2026), KYC and AML, safeguarding, DORA ICT and BNB-ready reporting.
FAQ
Bulgarian National Bank (BNB). FSC covers securities markets and investment firms.
Statutory 3 months from complete file. Real-world 6 to 10 months for a PI, 8 to 12 for an EMI.
Bulgaria adopts the Euro from 1 January 2026, joining TARGET2 and SEPA Instant on full Eurozone terms. Bulgarian PIs and EMIs benefit from simpler Euro treasury and cross-border settlement.
Crassula provides the core-banking platform aligned with BNB expectations: ledger, Bulgarian IBANs, cards, SEPA rails, KYC/AML, safeguarding, DORA ICT and BNB-ready reporting.
