Company registration in Bulgaria

Bulgaria, located in the eastern part of the Balkan Peninsula, is hailed by experts as an ideal hub for diverse business activities. The local government warmly welcomes foreign investments and extends various forms of support to non-resident businessmen.

ADVANTAGES OF COMPANY REGISTRATION IN BULGARIA

Several factors contribute to Bulgaria’s attractiveness for foreign business ventures:

A low corporate tax rate, standing at just 10%, is among the most competitive rates in Europe.
A flexible tax policy, featuring a standard VAT rate of 20%, with potential reductions for specific activities, even down to zero.
Strategic geographical positioning between Europe and Asia, facilitating business transactions with numerous countries.
A stable economy.
Streamlined and user-friendly reporting procedures.
State-level backing for innovative projects and programs.
Bilateral agreements for the avoidance of double taxation with over 70 countries worldwide.

Furthermore, Bulgaria’s European Union membership brings added benefits. The country has demonstrated substantial economic growth, driven primarily by energy, mining, processing industries, metallurgy, machine building, tourism, and agriculture. Bulgaria boasts a well-developed transport infrastructure, a robust banking sector, and efficient electronic government services.

POPULAR TYPES OF BUSINESS ORGANISATION IN BULGARIA

The organisational and legal forms of business in Bulgaria include:

EOOD — A limited liability company with one shareholder. A favoured choice for foreign investors. The minimum authorised capital is 2 BGN.
OOD — A limited liability company with two or more founders. Suitable for small and medium enterprises. The minimum authorised capital is also 2 BGN.
AD — A joint-stock company, most suitable for large enterprises. The authorised capital must be at least 50,000 BGN (about 25,000 euros) for a closed joint-stock company and 100,000 BGN (50,000 euros) for an open one.
SD — A general partnership, where the founders’ relationships are regulated by the constituent agreement. A minimum of two participants is required to open.
KD — A limited partnership. One or more partners bear unlimited liability for the company’s obligations; the liability of the rest is limited to their contribution to the authorised capital. The joint venture’s name must include the surname of one of the founders.
ET — A private entrepreneur. Only one private company is allowed per individual. Such a form is recommended for small companies.

FEATURES OF REGISTERING A NEW COMPANY

Founders of all types of companies in Bulgaria are not subject to residency requirements. It is essential to verify the uniqueness of the new legal entity’s name in the Bulgarian Trade Register before registration. Founders must also secure a local legal address and open an account with one of the country’s banks. Notarization of registration documents can be carried out in Bulgaria or another country. Personal presence during the registration of a new legal entity is not mandatory; typically, the entire procedure takes 1–2 weeks. All company information must be recorded in the Trade Register, and simultaneous registration with the tax office, statistical office, and pension service is imperative.

While the process of registering a company in Bulgaria is generally straightforward, entrusting this task to professionals from COREDO ensures a safer and easier experience. Our team will promptly assist in addressing all issues, advise on the regulation of commercial activities in the jurisdiction, and aid in the preparation and execution of necessary documents.

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