Regulatory AlertsBulgaria: lending & credit regulation
RegulatedBulgarian lending regulated by FIC under Consumer Credit Act; BNB oversees credit registers
- Lead regulator
- Financial Supervision Commission (FIC)
- Also involved
- BNB (Central Credit Register & prudential oversight) · CNPA (data protection)
- Core law
- Consumer Credit Act (CCA)
- Entry capital
- EUR 70,000 (Consumer Credit Institution)
- Approval timeline
- 3-6 months
- Customer assets
- Segregated or held in trust; no explicit ring-fencing in CCA
- Data protection
- GDPR & Personal Data Protection Act · CNPA
- Sandbox
- No
Lending activities in Bulgaria are primarily regulated by the Financial Supervision Commission (FIC) under the Consumer Credit Act (CCA) for consumer loans and the Credit Institutions Act for commercial lending. The Bulgarian National Bank (BNB) maintains the Central Credit Register and oversees prudential aspects of credit data. New entrants must obtain a license from the FIC, with strict capital and organizational requirements.
Which licence do you need?
| Your activity | Requirement | Capital | Timeline | Authority |
|---|---|---|---|---|
| Consumer lending | LicenceConsumer Credit Institution License Requires physical presence and fit-and-proper management. | EUR 70,000 | 3-6 months | Financial Supervision Commission (FIC) |
| SME / commercial lending | LicenceCredit Institution License Commercial lending typically requires full credit institution status. | EUR 5,000,000 | 6-12 months | Financial Supervision Commission (FIC) |
| Microfinance | LicenceConsumer Credit Institution License Microfinance is regulated under the Consumer Credit Act framework. | EUR 70,000 | 3-6 months | Financial Supervision Commission (FIC) |
| Buy-now-pay-later | LicenceConsumer Credit Institution License BNPL is treated as consumer credit under the CCA. | EUR 70,000 | 3-6 months | Financial Supervision Commission (FIC) |
| P2P lending platform | LicenceInvestment Firm License P2P platforms often require investment firm authorization. | EUR 73,000 | 3-6 months | Financial Supervision Commission (FIC) |
| Credit bureau / scoring | RegistrationCentral Credit Register Participant[1] Mandatory participation for regulated lenders under Ordinance No. 22. | — | — | Bulgarian National Bank (BNB) |
| Debt collection | LicenceCollection Agency License Requires specific licensing under the Law on Collection Agencies. | — | — | Ministry of Justice |
Market-entry checklist
- 1Secure FIC LicenseApply for Consumer Credit Institution or Credit Institution license with EUR 70k-5m capital.
- 2Register with BNBEnroll in the Central Credit Register to report credit data as mandated by Ordinance No. 22.
- 3Establish Physical PresenceSet up a registered office and hire fit-and-proper management in Bulgaria.
- 4Comply with Data LawsImplement GDPR and CNPA-compliant data protection measures for credit reporting.
- 5Prepare Collateral ProceduresAdhere to Ordinance No. 35 for auctioning movable collateral without court litigation.