Affordable Company Registration in Bulgaria

Company Registration in Bulgaria

More and more people are opting to register their businesses in Bulgaria for a variety of good reasons. An important attraction for investors and companies is the low cost of setting up shop in Bulgaria. It is a good fit for both new and existing businesses seeking to grow because of the low registration fees and reasonable operating costs.

There are several benefits for companies operating in Bulgaria as a result of the country’s participation in the EU. Companies based in Bulgaria may take advantage of a huge market without dealing with complicated trade obstacles and tariffs thanks to EU laws that make trading and commerce easier across member states. For companies planning to expand their operations globally, this entry to the EU market is a major draw.

Maintaining a serious and trustworthy business partner is crucial when starting a firm. Bulgaria is home to a plethora of consulting, accounting, and legal businesses that focus on assisting international investors with the registration procedure. To make sure that firms are prepared for success right from the start, these partners can give vital insights into local rules, tax incentives, and operational best practices.

Bulgaria is a great option for companies focused on making a profit because of its advantageous tax environment and low corporation tax rate compared to other EU member states. One further thing that makes this country a great place to do business is its highly trained workforce. This is especially true in fields like IT, engineering, and finance.

The Bulgarian Leva is the currency in use, but the Euro is set to supplant it in the near future. In the future, when you form a corporation in Bulgaria, you can avoid paying expensive conversion fees by doing this.

Steps in opening a company in Bulgaria

The first step is to think about a name for your company in Bulgaria. After you name as your proposal we can check if this name is already taken. It is popular to use English company names that then will be transliterated into Cyrillic.

The question that needs to be answered as the next one is whether you want to be the representative of your company or someone else should occupy this position. We recommend that you become the CEO of your company.

After depositing the share capital for your company you can submit the Statute. Then you have to wait for the certification of your business activity. Once completed, the BULSTAT number can be obtained.

Types of companies in Bulgaria

Many different kinds of companies can be formed in Bulgaria. The most crucial ones are introduced to you in the section that follows.

Types of Business Entities in Bulgaria

Sole Limited Liability Company (EOOD)

A solo limited liability company (LLC), often known as an EOOD, is the most common type. A minimum of 2 Leva, or around 1 Euro, is required of the sole owner. For example, in Germany, forming an LLC requires a capital investment of 25,000 Euros. This is a significant difference.


Limited Liability Company (OOD)

Many small and medium-sized businesses choose the OOD. It is an economical choice that provides stockholders with limited liability and requires only 2 BGN as a minimum share capital. The structure may accommodate a range of 2–50 members and offers managerial flexibility. One reason OODs are more popular than larger businesses is the fact that they have less complicated accounting and reporting needs.


Joint Stock Company (AD)

The AD is well-suited to bigger organizations seeking substantial investment, as it demands a minimum capital of 50,000 BGN. Capital can be raised from a wider pool of investors thanks to this structure, which enables public share trading on the Bulgarian Stock Exchange. The AD offers limited liability to its owners, safeguarding their personal assets, and has the authority to issue several types of shares.

Branch and Representative Offices

An alternative to full incorporation that might be considered by corporations seeking to grow into Bulgaria is the establishment of a branch or representative office. In contrast to a representative office, which can only engage in promotional and liaison operations and cannot engage in direct commercial transactions, a branch can work as an extension of the parent firm and engage in business activities. Neither of these alternatives places an undue administrative burden on international enterprises looking to enter the Bulgarian market.


There is also a possiblity of being a Freelancer in Bulgaria, read everything about it in our latest post about the topic!

Best price for company incorporation in Bulgaria and virtual office

Start a business in bulgaria today – 500 € is the entry price for company registration, offering a comprehensive suite of business solutions tailored to meet your company’s needs. Register a company in bulgaria does not have to be an overpriced experience. 

Alongside this, we provide virtual office solutions starting from just 50 € per month, making it easy for startups and small businesses to establish a professional presence without the overhead costs of a physical office.


With our virtual office, you get a prestigious business address, mail handling services, and access to meeting rooms when required. This flexibility allows you to focus on growing your business while we handle the administrative tasks.


Whether you need a full-service office package or a simple virtual solution, our offerings are designed to adapt to your business’s evolving needs. Enjoy the benefits of a professional image and operational efficiency at a fraction of the cost.


Our dedicated team is here to support you every step of the way, ensuring you have the resources you need to succeed. Join countless satisfied clients who have leveraged our services to enhance their productivity and streamline their operations. Contact us today to learn more about how we can help you achieve your business goals. 

Accounting services in Bulgaria

We offer accounting services for your company in Bulgaria.  Even though you did not register with us, we will be happy to help you with your monthly accounting obligation. We work with certified and trustworthy Bulgarian partners. We help you managing social payments, business expense, annual income statement and VAT declarations. If necessary we also assist in Advance Corprate Income tax.

The price for accounting services for your Bulgarian company depends on your individual needs, this is why we will approach you with an tailor-made offer.

INTERNATIONAL BANK ACCOUNT IN BULGARIA 

When considering opening a bank account for a bulgarian company, it’s essential to be aware that some banks may require an upfront fee of up to 400€ just to assess the possibility of account creation. These types of banks should generally be avoided, as such practices can indicate a lack of transparency or potentially unfavorable terms for customers.


Instead, it can be beneficial to seek out banks that have established reputations for customer service and reliability. References, such as those provided by us, can be invaluable in identifying trustworthy banking partners. These referrals can help you ascertain which banks are known for their fair practices, customer support, and overall reliability in managing your finances. Establishing a partnership with a bank that has a solid reputation can save you both time and money in the long run. 

Economy overview in Bulgaria

There are a number of important reasons why Bulgaria is seeing growth. Investors from around the world have taken notice of the country due to its advantageous position as a transit point between Asia and Europe. Incentives for entrepreneurship and economic growth, as well as simplified rules, have led to a marked improvement in Bulgaria’s business climate in recent years.


As a result of the IT sector’s meteoric rise to prominence, Sofia is now a regional center for technology. Many multinational corporations have set up shop in Bulgaria because of the country’s low operating expenses and its highly trained workforce. In addition, the country’s tourist sector has been growing, making the most of its varied offerings, which include resorts on the Black Sea, ski areas, and historical and cultural landmarks.


Access to capital and markets, brought forth by Bulgaria’s 2007 EU admission, has further bolstered economic progress. There have been significant improvements to the country’s infrastructure, connectivity, and the number of firms it attracts.


The stable macroeconomic policies, improved education system, and developing innovation ecosystem in Bulgaria are driving economic growth and increasing competitiveness on the global stage, even in the face of obstacles like demographic decline and the need for further changes.

What are the requirements for a company formation in Bulgaria?

In order to establish a Bulgarian corporation, one must first consult with a legal advisor to figure out the best organizational structure for the company. Company documents, such as the Articles of Association, are essential. A specific bank account needs to be established and a minimum deposit of 10 BGN must be made.

After paying the necessary taxes to the relevant municipalities, the next step is to register with the Bulgarian Trade Register in order to receive a Certificate of Incorporation. In addition to providing social security and pension details, the management of the company is required to obtain a tax ID and finish self-employment registration. These measures guarantee conformity with regulations and preparedness to function within the business environment of Bulgaria.

 

FAQ

Can a non-resident open a company in Bulgaria?

Yes, for EU-Citizens it is easier than for Non-EU-residents.

How much does it cost to set up a company in Bulgaria?

The costs start from 500€ on. Consult us for an individual offer!

How long does it take to open a company in Bulgaria?

The whole procedure should not take longer than 2 weeks (including BULSTAT number).

Is Bulgaria a good place to start a business?

Yes, Bulgaria offers a low tax environment within the European Union Legal Framework. Furthermore, you can find high skilled employees for an affordable salary.

 

Hand analyzing business graphs on a wooden desk, focusing on data results and growth analysis.

Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top