🇧🇬 Bulgaria
Late 2025 national MiCA law with a clear, published FSC fee schedule but a short grandfathering window.
Data verified: oldest cell 1 day ago (verified 2026-07-02). Individual cells show their own verification date below.
Licence type
Electronic Money Institution licence under the Law on Payment Services and Payment Systems (Zakon za platezhnite uslugi i platezhnite sistemi), transposing EMD2; a small/exempt EMI registration tier also exists for issuers below EMD2 activity thresholds
Regulator
Bulgarian National Bank (BNB) - Balgarska narodna banka
Capital requirement 🔒
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Local substance 🔒
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Passporting 🔒
EMIs authorised 🔒
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Safeguarding 🔒
Recent changes
Bulgaria adopted the euro on 1 January 2026 at the fixed rate of 1 EUR = 1.95583 BGN. All registered company/institutional capital (including EMI capital) is automatically recalculated at this rate; entities must formalise euro-denominated capital in governing documents and file updates with the Commercial Register by 31 December 2026. This effectively converts the BGN 700,000 EMI minimum capital to a fixed EUR-equivalent (~EUR 357,946), though BNB may in time align the stated minimum to the EMD2/PSR EUR 350,000 figure directly now that Bulgaria is in the euro area.
Difficulty rating 🔒
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Informational only, not legal advice. Entries marked as placeholder or awaiting verification must not be relied on. Confirm all requirements with Bulgaria's regulator and qualified local counsel before acting.