Investment Firms Authorised in Bulgaria

Every entry ESMA's union public register holds with Bulgaria as its home member state — what each firm is authorised as, when, and which authorisations have since been withdrawn.

This is not the crypto register. MiFID / AIFMD / UCITS investment firms — NOT the MiCA crypto register — investment firms, fund managers and trading venues. A firm listed here may hold no permission for crypto-assets at all. For that, use the guided check against the MiCA register.

A listing is a permission, not a recommendation. ESMA publishes that a firm is authorised. That is a record of a permission, not a recommendation, and not a statement that the firm is safe. No firm on this page is assessed, scored or ranked by us, and the order is alphabetical so that the order cannot be read as a judgement either.

135 entries · 126 recorded as current · 9 recorded as withdrawn · authority: Financial Supervision Commission (FSC)

"Ballena Ventures'' ADAIFM · authorised 28 August 2025Current
„Borg Finance” IncAIFM · authorised 30 April 2019Current
"CAPITAL INVEST"JSCInvestment firm · authorised 27 January 1999Current
“DSK Asset Management” ADUCITS management company · authorised 15 December 2004Current
“FFBH Asset Management” Inc.UCITS management company · authorised 9 March 2004Current
"Invest Capital Asset Management" JSCUCITS management company · authorised 17 June 2009Current
"STRATEGY ASSET MANAGEMENT"JSCUCITS management company · authorised 26 July 2006Current
"STRATEGY ASSET MANAGEMENT"JSCAIFM · authorised 21 January 2021Current
"Varchev Managing Company" OJSCUCITS management company · authorised 23 August 2006Current
ABV Investments LTDInvestment firm · authorised 31 March 1999Current
ACTIVA ASSET MANAGEMENT ADAIFM · authorised 15 December 2020Current
ADAMANT CAPITAL PARTNERSInvestment firm · authorised 23 September 2008Current
AFRANGA EOODEuropean Crowdfunding Service Provider · authorised 12 September 2023Current
Aktiva Asset Management ADUCITS management company · authorised 20 March 2007Current
Alaric Capital JSCUCITS management company · authorised 27 April 2006Current
Alaric Securities OODInvestment firm · authorised 24 February 2011Current
ALFASTAR VENTURES JSCEVC · authorised 28 February 2023Current
ALLIANZ BANK BULGARIAInvestment firm · authorised 21 December 1989Current
Astra Asset Managment JSCUCITS management company · authorised 18 June 2008Current
AVAL IN ADInvestment firm · withdrawn 29 June 2023Withdrawn
AVC FINANSInvestment firm · authorised 7 October 2008Current
Axiom Invest Ltd. (former Nachman Capital LTd.)Investment firm · authorised 5 August 2021Current
Balkan Advisory Company-IP"EADInvestment firm · authorised 28 May 2003Current
BenchMark Finance ADInvestment firm · authorised 9 March 2004Current
Bluesmart Investments ADUCITS management company · authorised 10 August 2023Current
BULBROKERS EADInvestment firm · authorised 18 June 1997Current
Bulgaria Fond ManagementAIFM · authorised 20 June 2024Current
BULGARIAN DEVELOPMENT BANKInvestment firm · authorised 11 March 1999Current
BULGARIAN STOCK EXCHANGEApproved publication arrangement · authorised 25 October 2018Current
BULGARIAN STOCK EXCHANGEMultilateral trading facility · authorised 20 December 2018Current
BULGARIAN STOCK EXCHANGEMultilateral trading facility · authorised 26 January 2018Current
BULGARIAN STOCK EXCHANGE BaSERegulated market · authorised 21 January 2012Current
BULGARIAN STOCK EXCHANGE INTERNATIONALRegulated market · authorised 27 April 2017Current
BULGARIAN STOCK EXCHANGE MAIN MARKETRegulated market · authorised 15 May 1998Current
BULGARIAN-AMERICAN CREDIT BANKInvestment firm · authorised 3 December 1996Current
CAPITAL MARKETSInvestment firm · withdrawn 3 February 2022Withdrawn
Capman ADInvestment firm · authorised 12 November 1997Current
Capman ADMultilateral trading facility · authorised 23 September 2015Current
Capman Asset Management JSCAIFM · authorised 16 February 2023Current
CCB ASSETS MANAGAMENT EADUCITS management company · authorised 17 January 2007Current
CENTRAL COOPERATIVE BANKInvestment firm · authorised 28 March 1991Current
Clint Hill Capital OODAIFM · authorised 31 March 2022Current
COLLECTIVE FINANCING ADEuropean Crowdfunding Service Provider · authorised 3 November 2023Current
Concord Asset Management ADAIFM · authorised 15 June 2016Current
Concord Asset Management ADUCITS management company · authorised 15 June 2005Current
D COMMERCE BANKInvestment firm · authorised 15 April 1999Current
De Novo EADInvestment firm · authorised 29 December 2011Current
DELTASTOCK ADInvestment firm · authorised 24 April 1998Current
DILINGOVA FINANSOVA KOMPANIAInvestment firm · authorised 11 June 1997Current
DSK Asset Management ADAIFM · authorised 23 December 2020Current
DSK BankInvestment firm · authorised 26 January 1998Current
DSK BankSystematic internaliser · authorised 31 December 2020Current
DV ASSET MANAGEMENT EADUCITS management company · authorised 21 August 2002Current
DV INVEST EADInvestment firm · authorised 6 November 2002Current
Ef Asset ManagementUCITS management company · authorised 4 May 2005Current
EF ASSET MANAGEMENT ADAIFM · authorised 20 May 2021Current
ELANA Fund Management ADUCITS management company · authorised 31 July 2007Current
Elana Fund Management JSCAIFM · authorised 19 August 2021Current
Elana TradingInvestment firm · authorised 3 April 1997Current
EURO-FINANCEInvestment firm · authorised 18 December 1996Current
EURO-FINANCESystematic internaliser · authorised 27 December 2021Current
EUROBANK BULGARIAInvestment firm · authorised 15 May 1991Current
EUROPEAN BROKERAGE HOUSE OODInvestment firm · withdrawn 25 April 2024Withdrawn
Ever Financial AD (former FH EVER)Investment firm · authorised 18 December 1996Current
Expat Asset Management EADUCITS management company · authorised 30 November 2007Current
Expat Asset Management EADAIFM · authorised 10 October 2019Current
FACTORIInvestment firm · authorised 29 April 1998Current
FFBH Asset Management Inc.AIFM · authorised 2 September 2015Current
FibankInvestment firm · authorised 8 October 1993Current
First Financial Brokerage House Ltd.Investment firm · authorised 10 November 1999Current
FOCAL POINT INVESTMENTS JSCoInvestment firm · authorised 3 July 1998Current
Global Clearing House OODInvestment firm · authorised 19 March 2024Current
GLOBAL FUNDS EXCHANGE AD (former EMIRATES WEALTH EAD)Investment firm · authorised 7 March 2007Current
GRAND CAPITAL LTDInvestment firm · authorised 12 June 2015Current
Impact Capital JSC (former Arcus Asset Management) ADUCITS management company · authorised 25 April 2013Current
IMPETUS CAPITAL OODAIFM · authorised 11 April 2019Current
Innovation Capital ADAIFM · authorised 29 January 2019Current
Innovation Capital IIAIFM · authorised 17 March 2026Current
Innovation Starter Box EOODAIFM · withdrawn 3 May 2023Withdrawn
INTERNATIONAL ASSET BANKInvestment firm · authorised 13 December 1989Current
INVEST FUND MANAGEMENTAIFM · authorised 26 February 2026Current
Invest Fund Management ADUCITS management company · authorised 3 June 2013Current
INVESTBANK JSC.Investment firm · authorised 16 December 1994Current
IP "INTERCAPITAL MARKETS"Investment firm · authorised 19 February 2003Current
IP FAVORIT CLSInvestment firm · authorised 16 February 1998Current
IP Intercapital Markets AD Oddział w PolsceInvestment firm · branch · withdrawn 28 March 2024Withdrawn
KAPMAN ASSET MANAGMENT ADUCITS management company · authorised 23 July 2003Current
KAROLLInvestment firm · authorised 18 June 1997Current
Karoll Capital ManagementAIFM · withdrawn 3 October 2024Withdrawn
KAROLL CAPITAL MANAGEMENT EADUCITS management company · authorised 21 August 2003Current
KBC upravlenie na investicii EAD (former Raiffeisen Asset Management (Bulgaria) EAD)UCITS management company · withdrawn 11 May 2023Withdrawn
Management Company Compass Invest JSCUCITS management company · authorised 22 November 2006Current
MANAGEMENT COMPANY MUNICIPAL BANK ASSET MANAGEMENT Plc.UCITS management company · authorised 12 February 2008Current
MarketVision Finance EOODAIFM · authorised 21 May 2025Current
MGG Advisers Ltd.AIFM · authorised 18 August 2020Current
MK Brokers (former D.I.S.L. SECURITIES)Investment firm · authorised 21 December 2005Current
Morningside Hill Ltd.AIFM · authorised 16 May 2019Current
NEW VISION 3 OODAIFM · authorised 11 December 2018Current
NID Industrialen Fond ADAIFM · authorised 5 November 2014Current
PATIENT CAPITAL OODEuropean Crowdfunding Service Provider · authorised 9 November 2023Current
PRESTIGE CAPITAL MANAGEMENT EOODAIFM · withdrawn 3 October 2025Withdrawn
PropertyPeers OODEuropean Crowdfunding Service Provider · authorised 20 June 2024Current
Quart Fund ADEuropean Crowdfunding Service Provider · authorised 23 July 2025Current
RAIFFEISENBANK / BULGARIA/Investment firm · withdrawn 10 April 2023Withdrawn
REAL FINANCEInvestment firm · authorised 4 September 1998Current
Real Finance Asset Management ADUCITS management company · authorised 6 December 2006Current
Salomon Mayer 1772AIFM · authorised 30 May 2019Current
SELECT ASSET MANAGEMENT EADUCITS management company · authorised 24 September 2003Current
Serdica Capital EADAIFM · authorised 11 February 2021Current
SILVERLINE PARTNERS OODAIFM · authorised 23 December 2020Current
SKY ASSET MANAGEMENT JSCoUCITS management company · authorised 14 February 2006Current
Smart Fund Asset Management EADAIFM · authorised 9 February 2023Current
Smart Fund Asset Management EAD (former Deltastock Assets Management EADUCITS management company · authorised 26 October 2016Current
Sofia International SecuritiesInvestment firm · authorised 3 July 1998Current
TBI BankInvestment firm · authorised 11 March 2008Current
TEXIM ASSET MANAGEMENT EADUCITS management company · authorised 1 February 2006Current
TEXIM BANK ADInvestment firm · authorised 14 September 1992Current
Thracian Invest Inc.UCITS management company · authorised 5 January 2023Current
TOKUDA BANKInvestment firm · authorised 27 December 1994Current
Trading 212Investment firm · authorised 21 June 2011Current
Trading 212Systematic internaliser · authorised 10 September 2020Current
Trend Asset ManagementAIFM · authorised 16 May 2024Current
TREND ASSET MANAGEMENT ADUCITS management company · authorised 14 December 2007Current
UG MARKETInvestment firm · authorised 31 July 1998Current
UG MARKET FUND MANAGEMENTUCITS management company · authorised 11 January 2006Current
Unicredit BulbankInvestment firm · authorised 25 June 1991Current
Unicredit BulbankSystematic internaliser · authorised 1 January 2024Current
UNITED BULGARIAN BANKInvestment firm · authorised 9 December 1992Current
UP TRENDInvestment firm · authorised 22 July 1998Current
VARCHEV FINANSInvestment firm · authorised 26 February 2003Current
VF Alternative ADAIFM · authorised 2 April 2019Current
Vitosha Venture Partners Ltd.AIFM · authorised 21 May 2020Current
Vitosha Ventures 2 LtdAIFM · authorised 8 July 2025Current
Zagora FinacorpInvestment firm · authorised 29 July 1998Current
Zlaten Lev Kapital EADUCITS management company · authorised 11 October 2000Current

What “Home Member State” Means Here

It is the state whose authority granted the authorisation — not necessarily the only place the firm operates. A firm authorised in one member state may serve clients in others, and the register separately records branches with a host state. Entries marked branch on this page are branch entries rather than head offices.

So a firm being absent from your own country’s page does not mean it cannot lawfully deal with you, and its being present does not mean it may do everything. The register overview explains what the permissions are and what falls outside them.

Other Member States

Germany 2,840 · France 1,633 · Luxembourg 1,237 · Spain 1,146 · Italy 771 · Netherlands 670 · Austria 667 · Poland 625 · Ireland 588 · Sweden 458 · Cyprus 430 · Denmark 366 · Finland 339 · Norway 298 · Malta 233 · Hungary 213 · Portugal 181 · Liechtenstein 172 · Czechia 155 · Belgium 151 · Greece 121 · Romania 100 · Slovakia 74 · Iceland 69 · Croatia 66 · Lithuania 66 · Latvia 48 · Estonia 36 · Slovenia 26 · United Kingdom 1

ESMA publishes that a firm is authorised. That is a record of a permission, not a recommendation, and not a statement that the firm is safe.

This document has been drafted using material downloaded from ESMA's website. ESMA does not endorse this publication and in no way is liable for copyright or other intellectual property rights infringements nor for any damages caused to third parties through this publication.

Source: European Securities and Markets Authority (ESMA) union public register (esma_registers_upreg), read on 2026-09-05. Licence: Reproduction authorised provided the source is acknowledged (ESMA legal notice). The authority’s own copy is the authoritative one; ours is a copy of a public file taken on the date shown, and ESMA states that information reported by a national authority “will not be immediately displayed” — so a firm can be authorised, and listed nationally, while absent here.