Company formation in Bulgaria

Bulgaria Nestled in Southeast Europe, Bulgaria stands as an emerging and promising destination for entrepreneurs looking to establish their business ventures in a region brimming with potential. With its strategic location, favourable tax environment, skilled workforce, and evolving market, Bulgaria offers a wealth of opportunities for both local and international investors. This comprehensive guide aims to illuminate the essential steps and insights necessary to navigate the process of initiating a business in this dynamic and thriving country.

Before embarking on the journey of opening a company in Bulgaria, it’s vital to grasp the intricate facets of its business landscape. Bulgaria boasts a diversified economy with sectors ranging from information technology, agriculture, tourism, manufacturing, and energy. Conducting thorough market research, understanding consumer behaviour, and evaluating competition are pivotal for laying a robust foundation for your business.

Entrepreneurs in Bulgaria can choose from various business structures, such as sole proprietorship, limited liability company (OOD), joint-stock company (AD), or branch office. Each structure carries its own legal, tax, and liability implications. Seeking guidance from legal advisors or business consultants is crucial to determine the most suitable structure aligned with your business objectives. We highly recommend the limited liability (OOD) company structure.

Establishing a new company in Bulgaria typically takes up to two months, encompassing document preparation and business registration. However, if all necessary documents are in order, a new company can be registered within a few days. In contrast, acquiring a ready-made company can be completed in seven business days. For detailed processes on establishing a new Bulgarian company, refer below. Alternatively, for a quicker solution, contact our experienced team, available to advise on acquiring a pre-existing company.

If you’re considering launching your enterprise in Bulgaria, leveraging the streamlined process and favourable tax structure, our team of expert consultants at Regulated United Europe (RUE) is prepared to offer the necessary expertise to guide you to success. Proficient in both Bulgarian and EU legislation, we provide assistance in company establishment and related services, along with support in accounting and tax optimization. Secure a personalized consultation today to kickstart your new venture in Bulgaria.

PACKAGE «COMPANY FORMATION IN BULGARIA»

1,500 EUR
PACKAGE «COMPANY FORMATION IN BULGARIA» INCLUDES:
  • Preparation of necessary documents for registration of a new company in Bulgaria
  • Acquisition of a legal address for the company for one year
  • Payment of state fees related to company registration
  • Power of Attorney for one person
  • Payment of notary fees related to company registration
  • Registration of the Company under the law

Open business in Bulgaria

Corporate services in Bulgaria

Advantages

Low registration fees

Strategic location

Favourable tax framework

Fully remote solutions are possible

Bulgaria offers various legal business entities, such as:

Switzerland Limited Liability Company

Switzerland Closed Joint Stock Company

Switzerland Open Joint Stock Company

Switzerland Limited Partnership

Switzerland General Partnership

Switzerland Sole Proprietorship

The most favoured structure is the Limited Liability Company, open to foreign individuals or entities under the Bulgarian Commercial Code.

Key requirements for a Limited Liability Company include:

  • A Bulgarian corporate bank account,
  • The minimum share capital ready for transfer
  • At least one shareholder
  • At least one managing director (who can also be the shareholder, a foreign citizen not residing in Bulgaria)
  • A registered office in Bulgaria for tax resident status

To open a current account remotely, the entrepreneur must sign a power of attorney and provide notarized necessary documentation. The company must have a significant presence in Bulgaria. For personalized assistance, contact our team for tailored solutions based on individual needs.

For establishing a company in Bulgaria, follow these key steps:

  1. Reserve a compliant company name, subject to state fees.
  2. Prepare required documents, with assistance available for certified translation, notarization, and apostillization services.
  3. Pay a registration fee to the Commercial Register.
  4. Register as a VAT payer (mandatory for companies exceeding 50,000 BGN or approx. 25,600 EUR in a 12-month period).
  5. Drafting Articles of Association
  6. Open a corporate account for the company
    Compliance with tax regulations, social security contributions, and adherence to labour laws are essential for a smooth business setup.

Understanding Bulgaria’s tax system, which includes corporate income tax, value-added tax (VAT), and personal income tax, is crucial for businesses. Leveraging tax incentives, maintaining accurate financial records, and complying with accounting standards are vital aspects that necessitate the involvement of proficient accountants or tax advisors.

Starting a business in Bulgaria offers a myriad of advantages, making it an increasingly attractive destination for entrepreneurs seeking a favourable business environment. One of the key factors contributing to Bulgaria’s appeal is its strategic geographical location. Situated at the crossroads of Europe and the Middle East, Bulgaria provides businesses with easy access to a vast market. The country’s membership in the European Union enhances its economic stability, offering entrepreneurs the benefit of participating in the EU’s single market and enjoying the free movement of goods and services.

Bulgaria

capital

Capital

population

Population

currency

Currency

gdp

GDP

Sofia  6,520,314 BGN $12,505

Furthermore, Bulgaria boasts a competitive and cost-effective workforce. The country’s skilled labour pool is not only well-educated, but also comes at a lower cost compared to many other European nations. This cost advantage allows businesses to maintain operational efficiency and competitiveness. Additionally, Bulgaria’s pro-business policies and low corporate tax rates further incentivize entrepreneurs. The government’s commitment to fostering a business-friendly environment is evident in its efforts to streamline bureaucratic procedures and reduce red tape, making it easier for businesses to establish and operate in the country.

In addition to economic factors, Bulgaria’s rich cultural heritage and diverse landscapes contribute to an appealing quality of life for entrepreneurs and their employees. The country offers a pleasant mix of historical charm and modern amenities, with picturesque landscapes ranging from mountains to beaches. The affordability of living in Bulgaria, coupled with its excellent healthcare and education systems, creates an attractive environment for individuals looking to relocate for business purposes. Overall, Bulgaria’s combination of strategic location, cost-effective workforce, and supportive business policies make it a promising destination for those embarking on entrepreneurial ventures.

If you’re considering launching your enterprise in Bulgaria, leveraging the streamlined process and favourable tax structure, our team of expert consultants at Regulated United Europe (RUE) is prepared to offer the necessary expertise to guide you to success. Proficient in both Bulgarian and EU legislation, we provide assistance in company establishment and related services, along with support in accounting and tax optimization. Secure a personalized consultation today to kickstart your new venture in Bulgaria.

Milana

“Bulgaria has become a promising destination for entrepreneurs and businesses seeking a thriving environment for growth and success. If you’re considering starting your business in Bulgaria, contact me, and let’s explore your vision together.”

Milana Scherbakova

LICENSING SERVICES MANAGER

phone1+370 661 75988
email2[email protected]

FREQUENTLY ASKED QUESTIONS

The duration to register a company in Bulgaria can vary, but on average, the process takes approximately 3-4 weeks. Factors influencing the timeline include the chosen legal structure, completeness of documentation, and the efficiency of interactions with regulatory authorities.

Yes, our banking specialists at Regulated United Europe can assist you in opening a bank account both physically and remotely, depending on your needs.

Absolutely, non-residents have the opportunity to register a company in Bulgaria. Bulgaria embraces foreign investors and entrepreneurs, encouraging them to establish businesses.

Yes, it is possible to register a company in Bulgaria remotely. Our team at Regulated United Europe will perform all registration activities on your behalf, enabling entrepreneurs to initiate and complete the registration process without being physically present.

Businesses in Bulgaria are subject to a 10% flat corporate income tax on their profits. Additionally, value-added tax (VAT) is levied at a standard rate of 20% on most goods and services sold within the country.

RUE customer support team

Milana

Milana

“Hi, if you are looking to start your project, or you still have some concerns, you can definitely reach out to me for comprehensive assistance. Contact me and let’s start your business venture.”

Sheyla

“Hello, I’m Sheyla, ready to help with your business ventures in Europe and beyond. Whether in international markets or exploring opportunities abroad, I offer guidance and support. Feel free to contact me!”

Sheyla
Diana

Diana

“Hello, my name is Diana and I specialise in assisting clients in many questions. Contact me and I will be able to provide you efficient support in your request.”

Polina

“Hello, my name is Polina. I will be happy to provide you with the necessary information to launch your project in the chosen jurisdiction – contact me for more information!”

Polina

CONTACT US

At the moment, the main services of our company are legal and compliance solutions for FinTech projects. Our offices are located in Vilnius, Prague, and Warsaw. The legal team can assist with legal analysis, project structuring, and legal regulation.

Company in Lithuania UAB

Registration number: 304377400
Anno: 30.08.2016
Phone: +370 661 75988
Email: [email protected]
Address: Lvovo g. 25 – 702, 7th floor, Vilnius,
09320, Lithuania

Company in Poland Sp. z o.o

Registration number: 38421992700000
Anno: 28.08.2019
Phone: +48 50 633 5087
Email: [email protected]
Address: Twarda 18, 15th floor, Warsaw, 00-824, Poland

Company in Czech Republic s.r.o.

Registration number: 08620563
Anno: 21.10.2019
Phone: +420 775 524 175
Email:  [email protected]
Address: Na Perštýně 342/1, Staré Město, 110 00 Prague

Finwyn Consultancy LTD

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