| 货币及兑换管理（英） |
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| 2005-09-16 14:37 保投资署 |
Currency and Exchange Control
The new Law on the Bulgarian National Bank voted by the Parliament in June 1997, and the new Law on Banks adopted in July 1997, introduced a currency board in the country effective as of July 1, 1997. After the introduction of a currency board, all constraints on trading with hard currency within the country were removed. Local banks can sell hard currency to physical and legal entities without any limitations. The local currency is internally convertible.
The currency unit in Bulgaria is the Bulgarian Lev. Before July 5, 1999 it was denoted as BGL. Since the date mentioned, the Bulgarian Lev has been denominated in a ratio BGL 1,000 to BGN 1. At present the BGN is pegged to the Euro at the rate of BGN 1 per EUR 0.51129. Central exchange rates are quoted daily by the BNB for statistical and accounting purposes only. The Bulgarian National Bank (BNB) denominations are: Notes BGN 1, BGN 2,BGN 5, BGN 10, BGN 20, and BGN 50; Coins BGN 0.01, BGN 0.02, BGN 0.05, BGN 0.1, BGN 0.2, BGN 0.5. The Lev denomination has facilitated payments, accounting and exchange operations.
Every local or foreign person may own an unlimited number of accounts in any currency, in any bank in Bulgaria. There are no restrictions on the repatriation of earnings, capital, royalties or interest with regard to the foreign investments and repatriation payments can be made freely.
The foreign exchange regime is based on the principle of freedom of concluding transactions, actions and payments. Transfers are governed by the Foreign Currency Act (effective as of 1 January 2000); the regulation on export and import of Bulgarian Leva and foreign currency in cash, precious metals and stones (1999); the regulation on trans-border transfers and payments (1999); and the regulation on registration by the Bulgarian National Bank (BNB) of transactions between residents and non-residents (1999).
Bulgarian citizens as well as foreigners may take Bulgarian Leva and foreign currency of up to BGN 20,000 or its foreign exchange equivalent out of the country without documentation. However, the export of Leva and foreign currency between BGN 5,001 and BGN 20,000 or its foreign exchange equivalent should be declared at the customs. Transfers above BGN 20,000 must have a prior approval of the BNB. Foreigners are permitted to export as much currency over the foreign currency equivalent of BGN 20,000 as they have imported into Bulgaria without prior approval.
Payments abroad made by businesses (or self-employed business people) can be executed only through bank transfers. Transfers over BGN 20,000 for current international payments (imports of goods and services, transportation, interest and principal payments, insurance, training, medical treatment and other purposes defined by the Bulgarian regulations) must be supported by documentation showing the need and purpose of such payments.
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