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Foreign exchange regulations

The foreign exchange regime is regulated by the following basic legal acts - Currency Law (SG 83 / 1999 last amend SG 36 / 200 4 ); Regulation on export and import of Bulgarian Levs and foreign currency in cash, precious metals and stones; Regulation on trans-bordertransfers and payments; Regulation on registration by the Bulgarian National Bank (BNB) of transactions between residents and non-residents; and Regulation on the Requirements to the Activity of Exchange Bureaux.

Documentary evidence should be produced for transfers exceeding BGN 2 5 ,000 for current international payments (imports of goods and services, transport, interest and principal payments, insurance, training, medical treatment and other purposes defined by the Bulgarian regulations).

Local and foreign individuals can import and export money under the following conditions:

Local and foreign individuals can export amounts over BGN 25 000 or equivalent in foreign currency after declaring to the customs authorities the origin of the money and presenting a certificate by the respective tax office for not having overdue liabilities. Foreigners have the option to declare to the customs authorities that the amount exported does not exceed the amount declared by on their last entering the country.

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