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Opening and registration of a company in Bulgaria

Open a company in Bulgaria to buy a car

How to open an LLC in Bulgaria

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Opening and registration of a company in Bulgaria– LLC, EOOO (sole limited liability company), etc. - this is a difficult process, which is mainly carried out by Bulgarian lawyers and lawyers.

Opening a company in Bulgaria begins with the question, which commercial company to register.

Company in Bulgaria type LLC(limited liability company) is one of the most common forms and this is due to a number of logical reasons. Firstly, this is the limited liability of the participants, regardless of the obligations that the company may assume, the owners of the LLC company in Bulgaria are only liable for amounts corresponding to the size of the capital of the company (excluding property owned by the Bulgarian company). In this regard, the second big advantage of registering an LLC in Bulgaria is the minimum capital of only 2 Bulgarian leva (1 euro). Those. virtually any foreigner can register such a Bulgarian company without assuming a risk not exceeding the size of what the company owns. A limited liability company in Bulgaria is usually the most suitable form of company for the development of small and medium-sized businesses or for the purchase of land (or real estate together with land).

More serious and large-scale business ventures require registration of a joint stock company (JSC), which, unlike Russia and other countries, in Bulgaria there are only two types - JSC or JAO (sole joint stock company), if there is only one owner of the authorized capital. Registration of an individual entrepreneur (IE) in Bulgaria is also possible, but not recommended, mainly due to the fact that an individual entrepreneur is fully responsible for his personal property.

After choosing a suitable form of registration of a company in Bulgaria, it immediately follows its opening. Procedure for registering an LLC in Bulgaria it usually takes 1-2 weeks after all the documents have been prepared and submitted to the Bulgarian Business Registry, the body that registers companies. The preparation of company documents also takes 1-2 weeks, especially if registration in Bulgaria is carried out by a representative by proxy. In such cases, the owner of the company signs the power of attorney in Bulgaria or abroad, and the person who is authorized makes the registration on the spot in Bulgaria.

Preparation of documents for company registration in Bulgaria- work that hides many legal subtleties, and for this reason is most often carried out by competent lawyers. In this case, the emphasis is on the drafting of the memorandum of association for an LLC (or the charter for an EOOO) in Bulgaria, which contains all the basic rules by which the Bulgarian LLC will operate. Some unscrupulous Bulgarian lawyers underestimate the importance of the memorandum of association and use the same sample documents for registering a company in Bulgaria, changing only the names and registering the company without even knowing its owners and the content of the circumstances that are subject to registration in the Bulgarian register of commercial organizations. It is not uncommon for clients, attracted by the lower cost of registering a company, to subsequently spend several times more money to correct mistakes made at the very beginning. Another disloyal, but relatively popular, practice of lawyers to attract clients is to announce a fee for only the registration service (or even only some stages of registration) without the necessary state and other registration fees. Or, the “final price” does not include all costs, some of which later turn out to be not “absolutely necessary” and therefore were not included in the price (despite the fact that it is practically impossible for the company to function if they are not paid).

After the successful registration of a company in Bulgaria, the second most important question follows - what to do next with a registered company? The absolute minimum, if there is no commercial activity, is an annual tax return, which is drawn up and filed once a year, most often by accountants or lawyers in Bulgaria. In the case of conducting commercial activities, a number of formalities must be completed, which are fully within the competence of Bulgarian accountants. Unfortunately, there are cases when, in order to obtain a fee, other persons are willing to perform this task, and it is not uncommon for cases in which this results in considerable sanctions for violation of Bulgarian law.

The issue of paramount importance is Bulgarian company address. By law, it must be in Bulgaria - there are no other specific requirements, even if it is invalid, since no one checks it. An invalid address, however, creates a huge risk, as there are a number of things of exceptional importance that if the owner of the company does not know about them, he risks incurring minimal or crushing material losses. It is a common practice for a company owner's attorney (lawyer, accountant, clerk, etc.) to indicate their own postal address as the company's legal address and receive company correspondence (letters from the tax office, court documents and other various documents) addressed to company owner abroad.

A special case, although very common among foreign citizens, is registration of a company in Bulgaria for the purchase of a car or for the purpose of acquiring real estate or land, since it is prohibited for a foreign citizen (individual) to acquire land, but it is not prohibited for a Bulgarian company (even if it belongs to a 100% foreign individual) to acquire land in Bulgaria. A mistake is often made, purely mechanical - first a company is registered in Bulgaria, after which the acquired property is registered as property in the name of this company. When acquiring real estate in Bulgaria in the name of a company, it is necessary to additionally prepare documents that guarantee the perfect implementation of the transaction, not only from a legal point of view, but also from an accounting point of view. Otherwise, a number of troubles may arise for the company, including property sanctions from the tax authorities, and the extreme option is the loss of real estate (recovery of monetary sanctions imposed by tax and other government agencies by selling real estate by a public or bailiff).

Bulgaria attracts foreign business with its EU membership and low tax rates. An interesting fact is that taxation in Bulgaria is considered one of the lowest in the entire European Union. Together with the ease of registering a company, all this makes Bulgarian companies especially attractive to Russians and other foreigners. To open a company as simply and quickly as possible, delegate the task to us:

• Terms: 3-6 days;
• Cost: 2150 euros.

Russian citizens and any other non-residents can open LLCs, JSCs and other types of companies in Bulgaria. With our help, you can register any type of legal entity, without having to understand all the intricacies on your own.

Can a foreigner open a company in Bulgaria

Foreigners can open companies in Bulgaria in the same way as locals. However, some taxes for residents and non-residents are different. But this applies to individuals, for legal entities (all types of companies) the tax resident status of their founder does not play any role.

Moreover, all participants in companies can be foreigners - from directors to shareholders and secretaries. There are no requirements for the minimum participation of local citizens, which is in Canadian federal companies, in Bulgaria.

Therefore, if you are a citizen of Russia, Ukraine or any other state, there are no obstacles to registering a Bulgarian company. Moreover, the Bulgarian government is actively working to attract as many foreign businesses as possible to the country by constantly improving the business climate and even simplifying some laws!

For citizens of Russia, there is another pleasant fact - the government of the Russian Federation is as loyal as possible to Bulgarian legal entities. For example, the jurisdiction is not included in any black list, and a registered Bulgarian company does not have any influence on Russian companies. Thanks to this, you can open a branch of your Russian company in Bulgaria without any risks or consequences.

What company can be registered by a foreigner

Most of the organizational and legal forms are available to foreigners. But it is better to rephrase the question from “which company can be registered” to the question: “which company is better to register”.

The following types of companies are especially popular among foreigners:

• LLC (for one founder and for a group);
• JSC (classic companies with shares).

There are other forms in the country, for example, an analogue of the Russian individual entrepreneur - Single trader, but other forms, most often, are not suitable for either Russians or other foreigners. The above forms: LLC and JSC, meet the requirements of most and allow you to do business both inside Bulgaria and abroad.

Limited liability companies in Bulgaria are divided into two types:

• Solely Friendship with Limited Reliability (EOOD);
• FRIENDSHIP WITH LIMITED EXCEPTIONS (OOD).

The first is a classic LLC, where there is one founder. The second is its analogue, but designed for several founders.

All types of companies must have a secretary. An important feature is that he can also be a foreigner. And this means that the involvement of local citizens to work is not required. But there is another important feature - only an individual can be a secretary, when legal entities can also be a founder.

Authorized capital requirements

For 2019, the most loyal requirements apply for an LLC: upon registration, a minimum deposit of 2 leva (about 1 euro) is required. Therefore, we can say that it is possible to open a company without an authorized capital.


If desired, the founders can contribute more to the Criminal Code. This is required, for example, if there are several founders and shares of ownership and responsibility are divided within the authorized capital.

Along with the requirements for authorized capital, there are requirements for shares. The value of one share cannot be lower than 1 leva (half a euro) - this should also be taken into account if you open a joint-stock company.

Sometimes we are asked the question: where to get a bank account to deposit the authorized capital. If you delegate the registration of the company to us, you do not have to worry about this issue. For those who follow the path of self-registration, we will clarify that you can open an account for a company in any bank in Bulgaria. The fact that you (the founder) are not a resident or citizen of the EU does not matter, since we are talking about opening a corporate account, and not your personal one.

Is nominee service allowed?

In Bulgaria, it is impossible to open a company with a nominee service, although the opposite information can be found on the Internet.

It is possible to involve a director (for an additional fee) who will represent your interests in your absence. However, responsibility and full authority always remain only with the real directors.

Taxes in Bulgaria

Bulgaria is not an offshore zone and never has been, although the assertion that it is offshore is sometimes met. Perhaps it is due to the fact that within the EU, Bulgaria is the country with the lowest taxes. If we compare with the Czech Republic, the difference will be enormous - the Bulgarian tax burden is about 1.5 times lower.


Bulgarian legal entities pay taxes on any income - both received within the country and abroad. The only exception is if you open a branch, then, of course, it is not required to pay taxes in Bulgaria on the income of the parent company.

The main tax rates are presented in the table below:
People who are considering the option of registering a company in Bulgaria often consider an alternative option - opening a company in Cyprus. But if we compare the stakes and opportunities, then Bulgarian companies uncompromisingly win. This applies to both taxes and opportunities: Cyprus is an island, with all the ensuing features, when Bulgaria is located as advantageously as possible.

Separately, we will clarify about the distribution of dividends. In 2019, there is a legal possibility not to pay them if dividends are distributed to another legal entity within the EU or to an individual resident in Europe. But even this is not a tool for avoiding taxes in Bulgaria, since it is understood that the tax will ultimately be paid in the country of residence within the European Union. This is relevant only for Europe, with offshore companies or Russia, this does not work.

Step by step guide: how to open a company in Bulgaria

You can save a lot of time, effort and possibly money if you initially delegate the registration task to professionals. We are ready to open a Bulgarian company for you in a short time and at an affordable price. Our cooperation, as a rule, begins with a consultation.

Step number 1 - consultation

As part of the consultation, you will learn about the available options, and we will be able to find the best option for you. Therefore, step number 1 is to contact the manager. Below on the page there is a contact form, in addition, on the page " Contacts»You will find all available methods of communication.

Use our experience in 10+ jurisdictions of the world, and find the best country and the best type of company for your foreign business.

Step number 2 - work with documents

We will prepare a full package of documents for company registration. You just need to provide:

• International passport;
• Registration address confirmation;
• 3 options for the name of the future company.

If there are several founders, then it is required to provide the passports of each participant. If another legal entity acts as a founder or you register a company as a branch, then you must provide the statutory documents for the parent company.

Based on these data, we will prepare all the necessary documents and submit an application for registration.

Step number 3 - registration

The company is registered in the region where the legal address is located. For example, if your future company is legal. address in Sofia (the capital of the country), then the registration takes place in Sofia. Registration is possible in various regions, but the following three are the main ones:

• Sofia;
• Varna;
• Burgas.

Burgas is especially convenient, as there is a large airport, and for those who plan to visit the country regularly, an office in Burgas can be especially convenient. Please note that the office of any company must be inside the country - the location of the office outside of Bulgaria is unacceptable.

You do not need to rent an office, it is enough to use the service of providing a legal address. This is officially allowed. The basic cost of our services already includes 1 year of providing a legal address.

After we have applied for registration, it usually takes about 5 days for the company to be registered by the state body. This completes the registration process. We will send the finished package of documents to you by mail:

• Resolution establishing the company;
• Minutes of the constituent assembly;

In the case of urgent registration, express delivery is possible.

As a rule, the entire procedure of registration and delivery of constituent documents takes about 1 week. The exact time depends on the workload of the registration authority, as well as on the readiness of the documents.

Who should open a Bulgarian company in 2019

The fact that Bulgaria is not an offshore zone significantly limits the interest of foreigners in jurisdiction. In our experience, Bulgarian companies should be opened to those who do business in Europe and are looking for a way to reduce the tax burden.

For example, if you are engaged in the import and export of goods, then you can open a company in Bulgaria, instead of France or Poland, and significantly reduce the tax burden, without any loss in opportunities.

The EU is a single economic space. And a Bulgarian legal entity gives you the same opportunities as, for example, a German one. For example, you can claim a VAT refund when exporting goods outside of Europe.

If we talk about areas of activity, then the most popular are trade and services. The manufacturing sector is not far behind them, since Bulgaria is also one of the cheapest countries in terms of labor. Two factors came together here at once: low taxes on employees and low labor costs - all this together provides an excellent opportunity to start a manufacturing business in Europe.

Bulgaria is also a great option for those who work in two markets - Europe and Turkey, but do not want or cannot register a Turkish company. Bulgaria is not only advantageously located literally on trade routes, but is also very closely connected with Turkey. This applies even to the population: about 10% of the total population of the country are Turks.

Whatever goal you pursue when deciding to open a company in Bulgaria, delegate the registration of a legal entity to us. We professionally and in a short time will open a company in Sofia, Varna and other Bulgarian cities.

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Registration of a company for foreigners costs 180 euros + 100 euros for the address where your company will be registered in Bulgaria.

The price of registering a company, if the shareholders and the head of the new company are in Bulgaria, is 180 euros (all inclusive).

The price of remote registration is 380 euros, which includes the opening of a deposit account (start up (deposit) bank account with a minimum required capital of 1 EUR).

We provide the legal address of the registered company to the actual address of our company, so that it can be used in the future for any correspondence, as well as for office telephone and fax. The cost of a legal address is 100 euros.

Our company registration package includes:

• Payment of all state duties and taxes for registration;
• Preparation of all necessary documents in 2 languages;
• Submission of documents to the unified Bulgarian commercial register;
• Opening, launching (deposit) bank account, with a minimum required capital of 1 EUR;
• We provide the legal address of the registered company to the actual address of our company for the possibility of further use in receiving mail, as well as indicating office telephone and fax numbers. The cost of a legal address is 200 euros per year in Burgas, Asenovgrad and Smolyan.
• The cost of a legal address is 100 euros per year in Plovdiv.

After the registration of the company, we provide the following services:

• Opening a current bank account using the Elektron banking system;
• Making a seal - from 20 to 30 euros.
• Certificate, the current state of the company - 35 euros;
• Registration of a company to work with the EU VAT (VAT, VIES) - 150 euros;
• Opening an insurance policy for a foreign person - 40 euros

We also offer ready-made companies already on the market, newly created companies Ltd., limited liability companies, joint-stock companies, including already with tax registration, statistical accounting, bank accounts in euro, $, £ and lv;

• Accounting and services: bookkeeping..html

Registration of a company in Bulgaria by foreign persons - types:

Registration of a company by an individual from one of the countries of the European Union

Registration of a company by an individual from a country outside the union

Registration of a company, when the participants of the new company are foreign legal entities

Registration of a company by an individual from a country of the European Union EOOD /sole limited liability company / OOD /limited liability company /

When registering a company by an individual, it is enough to present a personal card. Data from this card is entered into documents for company registration. Documents are prepared in Bulgarian, then it is necessary to make an official translation into the native language of a foreign person. The documents are identical with the documents for the registration of a company, which are prepared by the citizens of Bulgaria.

Registration of a company by an individual from a country outside the European Union EOOD /sole limited liability company / OOD /limited liability company /

When registering a company by an individual from a country outside the European Union, it is enough to have a passport or personal card with you. Data from a personal document is entered into documents for registering a company. Documents are prepared in Bulgarian, then it is necessary to make an official translation into the native language of a foreign person. The documents are identical with the documents for the registration of a company, which are prepared by the citizens of Bulgaria.

Registration of a company by a foreign legal entity from the European Union

Necessary documents for registration of a company by a legal entity or legal entities:

An extract from the Unified State Register of Legal Entities containing up-to-date information about law firms that will have shares in the Bulgarian firm; - decision of participants or shareholders

The decision of participants or shareholders of foreign companies to open a company in Bulgaria. For registration, a power of attorney addressed to a certain person must be drawn up. The rights of an authorized person must be described in detail, the power of attorney must contain the text that this person is authorized to register a company by signing documents, trust third parties to submit documents, open a bank account, appoint a manager.

Fees collected upon registration of LLC and EOOO from foreign persons

The state fees for company registration are the same for Bulgarian and foreign persons and amount to 160 BGN.

Bank tariffs for opening a savings account and for a capital deposit certificate start from 28 leva and vary depending on the bank in which the account will be opened. We will help you find the bank with the lowest rate. Additional expense /compared to the registration of a company by Bulgarian citizens/ is only a necessity in the translation of documents from Bulgarian into a foreign language /if the person does not speak Bulgarian/.

Registering a company in Bulgaria can be the first step in obtaining a visa or a temporary or permanent residence permit in Bulgaria and the European Union.

Comfortable location in the south-eastern part of Europe, access to the Black Sea, membership in the European Union - these are some of the few factors that contribute to the influx of foreign entrepreneurs to do business in Bulgaria.

In more detail, for example, Russian and Ukrainian businessmen are attracted by access to European loans, low tax rates and cheap labor. At the same time, she is quite qualified, Bulgarian universities provide a good education, and finding a job in Bulgaria is not so easy.

Despite some lagging behind other EU countries, the Bulgarian economy is quite stable, the government adheres to a systematic course towards the development of market relations and the implementation of effective reforms. The mental and cultural similarity of Bulgaria with the CIS countries makes the adaptation process more flexible and faster. Next, we will learn how to open a business in Bulgaria for foreigners, including Russians, and get acquainted with the main aspects of business immigration to this country.

In most cases, local authorities do not create obstacles, but, on the contrary, encourage foreigners to start a business in Bulgaria. Citizens of the CIS countries have the right to register their own company, both remotely and on Bulgarian territory. For doing business and living in Bulgaria, Russians and Ukrainians will need to obtain a visa and a residence permit. If things go well already after 5 years it will be possible to apply for Bulgarian citizenship.

To open a long-term business visa ( type D) you need to fulfill certain conditions, for example, to find a job in your company at least 10 local residents. There are options for legal circumvention of this requirement, for example, to open a representative office of a foreign company in Bulgaria. In any case, in order to find the best way for business immigration to Bulgaria, depending on the specific situation, it is worth consulting with experienced lawyers or special intermediary firms.

Almost any experienced entrepreneur knows that the successful development of a new company, especially in a foreign country, depends not only on the amount of investment and the state of the economy, but also on the ability to conduct business negotiations and understand the specifics of the local business culture. This allows you to make the right connections and promote your products in the market. Bulgaria is no exception here. Let's highlight the main points.

Business culture in Bulgaria

Punctuality . Bulgarians are quite demanding in this regard, meetings are scheduled in advance, late arrivals are highly undesirable, maximum 10-15 minutes. In unforeseen cases, be sure to call and apologize. Therefore, it is better to calculate the travel time to the destination, taking into account the specifics of the city infrastructure. In Sofia, you may have to use the metro instead of a car or a taxi.

Dress code . There are absolutely no differences from most civilized countries. For both men and women, a business suit in dark shades is preferable. Much, of course, depends on the business area, but you should definitely not wear revealing and bright outfits.

Language and communication . The vast majority of local residents, including entrepreneurs, prefer to negotiate in Bulgarian. Many people know Turkish and Romanian. Older businessmen speak Russian, younger Bulgarians prefer to study English. Face-to-face meetings and eye contact are highly valued. The usual handshake and exchange of business cards is considered the norm. Don't forget that in Bulgaria shaking your head up down means "no" and side to side"Yes".

Procedure and cost of registering a company in Bulgaria

Selecting and reserving a unique name for the new company. Checking in the electronic register of the commercial register. Price 25-50 Bulgarian lev(13–25 euros), depending on the reservation method (electronic or paper.)

Holding a mandatory constituent meeting of shareholders. Notarization of a copy of the Articles of Association, a sample signature and a special statement of the General Director of the company, which confirms the absence of violations of the law of Bulgaria "About trade". The costs at this stage are limited to a few euros.

Opening a deposit account in a local bank and depositing the minimum amount of the company's authorized capital. The cost of bank services up to 10 euros.

Registration in the commercial register of the National Trade Agency. Official fees when applying electronically are 55 Bulgarian lev(about 27 euros), in the case of paper media - 110 lev(55 euros). The procedure takes up to 4 days.

Submission of documents to the tax service and obtaining a certificate of VAT payer. The procedure is free, but may take some time. up to 12 days.

The total time for registering a company in Bulgaria takes at least two weeks. It is highly likely that you will need to hire a local lawyer and accountant. More details on the procedure for opening firms of different forms of ownership and the list of required documents can be found on the official investment portal of Bulgaria - investbg.government.bg.

Forms of ownership in Bulgaria

Foreign businessmen are provided with a fairly wide choice of forms of ownership for opening a company in Bulgaria. The share of foreign capital has no restrictions, up to 100%. The main thing is to comply with local laws and pay taxes regularly. Let's take a brief look at the most popular types of companies in Bulgaria.

Limited Liability Company (OOO). Due to the minimum requirements for authorized capital in the amount of 2 Bulgarian lev and an optimal management structure, is considered the most common form for a company in Bulgaria. The liability of the owners of shares is limited to the share of contributions to the authorized capital.

Management is carried out by a director appointed by the general meeting of shareholders. Most suitable for small and medium business in Bulgaria. Shares can be inherited, and in the case of third parties, only after the consent of the general meeting.

Joint-stock company (JSC). Authorized capital requirements - 50 thousand lev(about 25 thousand euros) for closed companies and 100 thousand lev(about 50 thousand euros) for open companies. The shares of the latter are freely traded on stock exchanges. JSC is more suitable for large enterprises managed by several owners.

The board of directors and the supervisory board are appointed to the management structure of the company. Responsibility for obligations extends to the property of the owners of the firm. There are no conditions for the transfer of shares.

Taxes in Bulgaria in 2019

Bulgaria's tax policy is considered one of the most attractive in Europe with very low interest rates. First of all, it concerns corporate income tax. Also, with more than 60 countries of the world, Bulgaria has signed agreements on the avoidance of double taxation.

Basic tax rates in Bulgaria in 2019

Corporate Income Tax- ten%. In some cases, for example, when a company operates in a region with high unemployment (more than 35% or above the national average), benefits up to 100% of taxable income are provided. Assistance is also provided to farmers and companies when hiring the unemployed and the disabled.

VAT. The basic tax rate is 20%. Companies with an annual turnover of more than 50 thousand Bulgarian leva are subject to mandatory registration as a payer. In some areas, for example, when renting beds by hotels or similar institutions, a reduced rate of 9% is applied. The international transport industry or companies shipping goods outside the EU are fully exempt from VAT.

Income tax - 10%.

tax on dividends - 5%.

Promising areas for business in Bulgaria

The most popular areas for starting a business in Bulgaria for Russians and Ukrainians are traditionally considered to be tourism and agriculture. In recent years, the IT sector, construction, logistics, services and maintenance have been highlighted. In any case, a serious analysis of the local market and a careful selection of the region will be required.

Agriculture. Favorable climate, a huge area of ​​fertile land (about half of the territory of Bulgaria), suitable for the development of crop and livestock production, cheap and educated workforce. All this contributes to attracting foreign investment and increasing the number of companies in the agricultural sector in Bulgaria. Peppers, tomatoes, corn, grapes, tobacco, wheat, and potatoes are mainly grown. Engaged in poultry and beekeeping.

Tourism. The Black Sea coast, temperate climate and rich nature attract a large number of tourists from different countries to the country. In addition to resorts on the seashore, the country is developing a ski area and cultural tourism associated with visiting historical sites. The tourist destination is considered quite popular among foreign businessmen.

Particular attention should be paid to licenses and permits for certain types of activities, it is better to conduct the necessary consultations with local specialists in advance. Many entrepreneurs prefer to buy a ready-made business in Bulgaria and continue its development.

Opening and running a business in Bulgaria most often involves staying on Bulgarian territory for a significant amount of time or moving to this country for permanent residence. To do this, foreigners from the CIS countries, Ukrainians and Russians in particular, will need to obtain a business visa. To this end, you need to personally apply to the Bulgarian Consulate in your country, collect the required documents and pass a mandatory interview.

Documents for a business visa to Bulgaria in 2019

1. A completed application of the established form and a visa application form.
2. Foreign passport and copies of the indicated pages.
3. Copies of the latest Bulgarian and Schengen visas.
4. Color photograph (3.5x4.5 cm).
5. Sufficient financial means to stay and live in Bulgaria.
6. Medical insurance with a coverage amount of at least 30 thousand euros.
7. Certificate of no criminal record.
8. Availability of a place to live in Bulgaria (ownership or rent).
9. Proof of having a business in Bulgaria.

In some cases, the requirements for documents may differ, the employees of the Consulate of Bulgaria will provide the necessary assistance. Typically, the period for issuing a visa does not exceed 35 working days.