Located in Eastern Europe, the Republic of Bulgaria occupies the east of the Balkan Peninsula and shares borders with Greece, Turkey, Serbia, Romania and Macedonia. The capital is Sofia.
Large industrial centers of the country: Varna, Plovdiv, Ruse, Burgas, Shumen, Sliven and others.
The white, green and red stripes on the Bulgarian flag are symbols of freedom and peace, forests and farmland, as well as the blood that people shed in their struggle for independence.
Today, business registration in Bulgaria is becoming more and more popular:
- The favorable geographical position of the country makes its transport routes important for the whole of Europe;
- Bulgaria is a member of the EU;
- The republic has the lowest level of corporate tax in the EU;
- The company has the right to choose the form of conducting accounting(standard forms can be replaced by IFRS);
- Short registration terms;
- Granting national treatment to foreign businesses;
- Benefits for foreign investors who invest large sums in business.
Forms of doing business in Bulgaria
You can register a company in Bulgaria in the form:
- ET - Sole trader (Individual entrepreneur);
- AD - Joint Stock Company (Joint Stock Company);
- OOD - Friendship with Limited Excuses (Society with limited liability with two or more founders);
- EOOD (Solely Friendship with Limited Excuses) - (Limited Liability Company with one founder).
The most popular forms of ownership are OOD and EOOD.
To open a company in Bulgaria, the following requirements must be met:
- The company must be represented by at least 1 director (depending on the chosen form);
- The director has the right to become entity;
- Registration of a company in Bulgaria provides for the presence of a secretary and an office in the jurisdiction;
- A company can exist even with only one shareholder;
- It is allowed to have nominee shareholders and directors;
- It is obligatory to register a legal address in Bulgaria;
- An LLC is registered with a minimum minimum authorized capital of 2 leva (about 1 dollar), . When registering, you must pay at least 70% of the authorized capital.
Taxes in Bulgaria
In Bulgaria, the company pays the following types of taxes:
- income tax. It is paid by all companies that are registered in Bulgaria. Tax rate - 10%;
- Owners of any form of business pay tax on worldwide income. The branch, accordingly, pays tax on its own income, the income of the parent company is not taken into account;
- Not included in the tax base is the income received from dividends paid out. Up to 5% is withholding tax;
- Non-residents pay a 10% tax on interest income on securities and financial leasing; for the fee received for the provision of technical services in transactions. Tax is also paid on a percentage of the cost of services of leasing operations, on income from factoring and franchising, from the sale of financial assets by a company, income from granting the right to exercise intellectual property rights;
- VAT is paid at two rates:
For taxable transactions of the main category - 20%;
For export or other stipulated international agreements types of operations - 0%.
Accounting in Bulgaria
Mandatory are accounting and preparation of the annual report.
We are ready to register a company in Bulgaria quickly and legally.
Our specialists have extensive experience and work with a huge number of jurisdictions around the world. Registering a company in Bulgaria is no exception.
Bulgaria is the most promising country of the former socialist camp, in which it is possible to develop very successfully own business. Its location contributes to the development of tourism and hotel business, and the favorable climate makes you want to stay longer in this state. Today, registering a company in Bulgaria is a fairly simple and easy procedure. Bulgaria is part of the EU and provides great opportunities for doing business.
The current laws of the republic allow the registration of two types of companies - a joint venture and a limited liability company. LLC is the most suitable option for various kinds of investments and implementation trading activities. joint venture beneficial for the provision of banking and insurance services. What exactly is required when opening a company and where to start the process itself?
What forms of economic activity can be registered in Bulgaria
What is required for registration
- The future company must have a unique name that passes a mandatory identity check. Then you should choose the form of the company and determine the founder.
- Registering a company in Bulgaria requires opening a savings bank account
- It is necessary to make copies of civil and foreign passports.
- The authorized capital of the company must be at least 2 leva.
- All signatures are notarized.
- To be able to perform the necessary actions, a certain power of attorney in the name of a lawyer is required.
- The required forms are signed according to the approved forms.
- A seal is ordered and the procedure for registering a company in the state registration system and in the tax authorities is carried out.
Any type of company or its branch is registered in the Commercial Register, after which a certain identification code is assigned. The most profitable and simple registration in Bulgaria LLC. This form is most suitable for successful development medium and small businesses. A capable adult can open a company in Bulgaria, regardless of their own citizenship. Thus, not only citizens of this country, but also foreigners can do business in Bulgaria. The company does not have a specific regulation on the number of its founders. Many foreign entrepreneurs most often choose such forms of activity in Bulgaria as OOD and EOOD. 
Turnkey registration
Today, many companies offer turnkey company registration. After the company is recorded in the Register, it is assigned a UIC - a unique specific code. Then a bank account is opened and the authorized capital of the company is paid. After receiving the appropriate certificate of registration and corporate seal, you can start commercial activity. Very large business requires registration joint-stock company. Thus, opening a company in Bulgaria is quite easy.
To prepare the statutory documents, it is necessary to correctly represent the main activities of your own company and the amount of capital. With active commercial activity, experts recommend providing for the amount of funds more than 2 leva. Then, from the authorized funds, you can carry out the initial costs of doing business. Registering a company in Bulgaria usually does not take more than a week. You can open a company for one or more founders, for a legal or individual. In Bulgaria there is no limit on the number of founders, participants and on attracting foreign funds.
According to current Bulgarian laws, a company meeting must be held at least once a year. The powers of the owners of the company apply to any decisions that relate to statutory activities, distribution of income after taxes, changes in the authorized capital. Any person, regardless of their citizenship, can be a shareholder or director of a company. The property of the company is separated from the property of the founders. Registration of a turnkey company in Bulgaria is a very low-cost and most profitable option for those entrepreneurs who decide to expand their own business abroad. 
Opening a company in Bulgaria: cost for registration
Each company that specializes in opening firms abroad can offer its own prices for such services. They vary within different limits and can range from 180 to 400 euros. If you want to open a company in Bulgaria, the cost of the services of the SAVA Management company will definitely suit you, as the prices are affordable. Specialists will help you expand your business in Bulgaria and will provide full assistance in the registration of a turnkey company. 
To start successfully developing your business abroad, just contact SAVA Management by phone +35929656060. Experienced consultants will provide full assistance to all those wishing to open a company in Bulgaria. SAVA Management specialists have great experience work in this service sector and value each client. By opening a company in Bulgaria with the help of professionals, you will receive full administrative support and will quickly be able to start a successful commercial activity abroad. If necessary, you will receive all the necessary advice for choosing a law firm - or a company for legal services your company. Cooperation with professionals will allow you to quickly start or expand your own business.
Nowadays, many entrepreneurs prefer to open their business outside of Russia. There can be many reasons for this: political and economic instability in our country, administrative barriers that prevent a businessman from realizing his ideas, high interest rates on loans to start his own business, lack of state support small and medium business. For these and other reasons, our compatriots seek to organize their business in other countries. Bulgaria is not the last among them. Starting a business in Bulgaria has long been commonplace for Russian entrepreneurs.
Let us consider in more detail how exactly it is possible on the territory of this country and which ones are the most common there.
Forms of doing business in Bulgaria
On the territory of Bulgaria, you can register a company of one of the following organizational and legal forms:
- Sole proprietor (Single trader). The authorized capital for a private entrepreneur is not required. The founder of the company as an individual entrepreneur can be both a citizen of Bulgaria and a foreign citizen who has a residence permit. The name of the company must contain the full surname, name, patronymic of the owner. According to the legislation of the country, one individual can register only one individual entrepreneurship. The founder of the company is responsible for its obligations with all his property. The tax rate for a private entrepreneur in Bulgaria is 10% of the income received.
- Limited Liability Company (OOD - established by two or more persons or EOOD - established by one person or legal entity). The minimum authorized capital is 2 leva. The management of the company is carried out by the general meeting and the manager. Sometimes another governing body may be appointed (it is not mandatory) - the controller, which exercises control over the execution memorandum of association and submit a report to the general meeting. The supreme governing body of the company is general meeting, which has the right to hire or exclude founders, accept the annual balance sheet, distribute profits, change and supplement the memorandum of association.
- Joint-stock company.
The share capital of a joint-stock company is at least 50,000 levs. The minimum number of founders is one individual or legal entity, the maximum number is not limited. The minimum value of one share is 1 lev. The influence of shareholders in a society is determined by the number of shares they have, whoever has more of them - he occupies a higher position. Shareholders bear full responsibility for the obligations of the company with all their property.
Also, you can register:
- Full partnership. Its founders can be at least two individuals or legal entities who are liable for the obligations of the company with all their property. Each of the founders has the right to manage the partnership. The size of the authorized capital has no minimum threshold. The activities of the partnership are regulated by the drafted memorandum of association.
- Limited partnership. For a limited partnership, the minimum amount of the authorized capital is also not established, and the minimum number of founders is 2. However, unlike a general partnership, only one of the founders, called the founder - limited partner, can manage a limited partnership. The responsibility of the commander for the obligations of the company is not limited, and the rest are liable only in the amount of personal contributions to the company.
- Limited partnership with shares. The minimum share capital is BGN 50,000, and the minimum number of company founders is 4 people, one of which is a limited partner. As well as in a limited partnership, the limited liability for the obligations of the company is borne by the limited partner, and the rest only in the amount of personal contributions.
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The procedure for opening a company in Bulgaria
Consider the algorithm for opening a company in Bulgaria.
1. Drawing up and filling out the documents required for company registration.
2. Signing of documents by the founders of the company and the director.
3. Checking the uniqueness of the company name.
4. Opening of a special account of the company (collection note), to which the authorized capital is deposited.
5. Documents are submitted to the Registration Agency, where the state fee is also paid.
6. After the company is registered in the commercial register, the account with the authorized capital is closed, since it cannot be used as a settlement account.
8. If necessary, a current account is opened.
9. Making a seal.
The most common forms of doing business in Bulgaria are limited liability companies OOD and EOOD. Consider the order of their registration.
The following documents are required for registration of an LLC:
- OS protocol (constituent protocol);
- declaration of the director, sample of his signature and certified consent;
- an extract from the bank on the contribution of the authorized capital (which is at least 2 leva);
- company formation agreement;
- a power of attorney for an authorized person (required if the company is not opened independently);
- an agreement that the founders assign duties to the director (management agreement);
- declaration of the director on the correctness of the data when submitting documents for registration.
If you are going to register a EOOD, you will need to provide the following package of documents:
- an application for registration of a company, completed in the form A4;
- founding act;
- the decision to establish a society;
- certified consent of the director and a sample of his signature;
- an extract from the bank on the contribution of the authorized capital;
- receipt of payment of registration fees;
- declaration of the director on the correctness of the data when submitting documents for registration;
- power of attorney for an authorized person.
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The most demanded types of business in Bulgaria
The advice of experienced businessmen who have opened their business in Bulgaria boils down to the fact that it is worth opening a business in this country in such areas as the agricultural field, public catering (restaurants, cafes, bars), hotels and hotels.
Small business in Bulgaria is quite well developed. Therefore, our compatriots strive to either organize their own business in this country, or buy a ready-made one. Many Russians start their business by opening a small hotel on the seashore or in the mountains. Since Bulgaria always attracts a large number of tourists, the opening of a hotel, inn or summer house for visiting guests will definitely be in demand. If your business is gaining momentum, you can open a cafe or restaurant on the territory of the hotel, which will undoubtedly make your business even more successful.
If you are thinking about buying ready business in Bulgaria, the approximate prices at which it can be purchased are as follows:
- bar, cafe - from 50,000 euros;
- shop - from 25,000 euros;
- hotel, hotel - from 70,000 euros;
- agricultural farm - from 25,000 euros.
Each entrepreneur decides for himself.
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Advantages and disadvantages of starting a business in Bulgaria
We can highlight the following advantages of doing business in Bulgaria.
1. Political and economic stability of the state.
2. Friendliness and hospitality of local residents.
3. Bulgaria has the lowest interest rate in Europe - 10% of income.
4. A large number of tourists visiting this country.
5. Doing business gives the right to obtain a residence permit.
Undoubtedly, opening your business in the territory of this country, you will inevitably encounter some difficulties.
1. Language barrier. Living and working abroad is not as easy as it might seem at first glance. Of course, the main obstacle is a foreign language. To feel free and confident, you need a good knowledge of the Bulgarian language, because you will need to communicate with people not only on work issues, but also at the household level.
2. The mentality of the Bulgarians is different from the Russian one - the representatives of this country are very slow and unhurried, it is difficult to stimulate them to work, they are used to living today. And according to the labor legislation of Bulgaria, you are required to hire at least 10 people from the local population. Therefore, be prepared for the fact that the workflow will take place at a slower pace than in Russia.
Also, it must be taken into account that:
- Territory of Bulgaria 150 times less than Russia. The population of Bulgaria is only about 7.5 million people. This means that the circle of potential buyers of goods in your store or users of services is significantly narrowed.
- It is important to note that Bulgarians are extremely wary of foreigners. Therefore, if they have the opportunity to buy something from a compatriot, they will make purchases from him.
- The incomes of the population in Bulgaria are not too high (the average income per family is 350 euros per month, that is, 4200 euros per year), which means that the purchasing power of the population is quite low. This fact may cast doubt on the success of your business. In this case, it is very important to correctly determine the direction of activity.
It should be mentioned that the descriptions and sample documents given in this text are for guidance only. At the time of this publication, they are sufficient to register a company in Bulgaria when filled out correctly. However, laws tend to change, and no one can guarantee that the package of documents will not change. For up-to-date information, please contact our company or a qualified independent lawyer.
Below is a detailed algorithm for registering a company in Bulgaria in the form of EOOD ownership (LLC with one founder), in the case when the founder is a director (manager). The algorithm for registering a company in Bulgaria is as follows:
PREPARATORY STAGE, COLLECTION OF INFORMATION FOR REGISTRATION OF EOOD
. Unique name
First of all, you need to come up with a unique name for your Bulgarian company. The name must be in Cyrillic and may contain letters and numbers. You can check the uniqueness using the website of the Trade Register of the Republic of Bulgaria or by contacting our company for this service.
If the submitted documents contain a non-unique company name, registration will be denied, which threatens to waste time and money.
. The authorized capital of the company
According to Bulgarian law, the authorized capital of an OOD or EOOD must be equal to or greater than 2 Bulgarian leva. The minimum capital is enough to register a company. However, if the applicant plans to engage in business, it should be noted that for some licensed activities, this minimum authorized capital will be insufficient.
. The composition of the founders and their shares in the authorized capital
In the case of EOOD, everything is simple - there is only one founder, all the capital belongs to him, the minimum amount of capital is 2 Bulgarian leva.
When registering an OOD, several founders appear. The share in the authorized capital of each of them must be greater than or equal to 1 Bulgarian Lev.
. Legal address Bulgarian company
You can register a company at the address of the applicant's residence in Bulgaria. If this is not yet available, you can always contact our company and we provide the required address. This is all the more convenient, given that correspondence about the company will be sent to this address.
. Statutory activities
It is necessary to list the types of activities that the company plans to engage in. Statements like “all activities not prohibited by law” are not applicable. The presence of such wording may lead to refusal of registration.
LIST OF DOCUMENTS FOR REGISTRATION OF EOOD
In the list of documents described below, there are links to forms to fill out. Of all the documents, only one requires notarization - Director's signature sample(manager).
. Declaration according to Article 13, para. 4 Law on the commercial register of the Republic of Bulgaria
With this document, the applicant declares the truth of the circumstances declared by him and the acceptance of the submitted acts. The document indicates the full name, citizenship, date of birth, number, date of issue of the passport, the authority that issued the passport, permanent address. The document is signed without notarization.
. Declaration according to article 141 par. eight
With this document, the applicant declares that he knows the order specified in Art. 141 par. 8 of the Commercial Law, was not declared bankrupt, was not a director (manager) or a member of the governing board of a company that ceased operations due to bankruptcy (insolvency) within the last two years, which is known liability under Art. 313 of the Criminal (Punitive) Code on declaring incorrect data that he was not a director or member of the managing or control board of a company for which a "punitive" resolution came into force for failure to fulfill obligations to create and store a stock of petroleum products.
The document indicates the full name, citizenship, date of birth, number, date of issue of the passport, the authority that issued the passport, permanent address. The document is signed without notarization.
. Declaration according to Article 142 of the Commercial Law of the Republic of Bulgaria
With this document, the applicant declares that he knows the order specified in Art. 142 of the Commercial Law, that as a director (manager), without the consent of the Company, he does not have the right to make commercial transactions on his own or someone else's behalf, to participate in other commercial organizations(collective, command and LLC), occupy leadership positions in other societies, provided that statutory activities similar.
The document indicates the full name, citizenship, date of birth, number, date of issue of the passport, the authority that issued the passport, permanent address. Company name, company address. The document is signed without notarization.
.Constituent act
This document is the charter of the EOOD. When compiling it, the date of signing, full name and status (sole proprietor) of the applicant, the name of the Company in Cyrillic and Latin, the address of the Company, the types of activities of the Company, the term of the Company, the amount of capital and ownership of shares in kind and percentage, the rights and obligations of the founder, data about the appointed director (manager), the rights and obligations of the director, etc.
The document is drawn up in two copies. Full name, citizenship, date of birth, number, date of issue of the passport, authority that issued the passport, permanent address, company name, address of the company are indicated. The document is signed without notarization.
. management agreement
This document is an agreement between an individual who will be appointed director (manager) and a legal entity - a newly registered company.
When compiling it, the date of signing, the name and address of the company, the full name of the future director (manager) are indicated. Its text prescribes the rights and obligations of the director, the rights and obligations of the representative of the legal entity (in this case, this is the same individual as the director), the conditions for terminating the contract. The document is signed by both parties without notarization.
. Minutes of the decision of the sole proprietor
This document is a decision of the founder to establish a company. The document indicates the name of the company, the future address of the company in Bulgaria, declares the adoption of the charter of the company by the founder, determines the director of the company (manager), the full name of the founder, indicates the need to sign an agreement with the director (manager), prescribes an instruction to the director to take all actions to register the company in the Commercial Register Republic of Bulgaria. The document is signed without notarization.
. Sample signature of a director(steward)
This document is drawn up in the form of a declaration, which states that an individual agrees to manage the Company and puts his signature in confirmation of this.
The document indicates the full name, citizenship, date of birth, number, date of issue of the passport, the authority that issued the passport, permanent address, company name, company address. The document is signed and certified by a notary.
After the documents are ready, you can proceed to the next stage of company registration in Bulgaria
OPENING A SAVINGS ACCOUNT
With a ready-made package of documents from the list above, you need to go to the bank, where you have to open a savings account to place the authorized capital. Based on the experience of its employees and customers, the company "V Bulgaria" OOD recommends that you address this issue to Unicredit Bulbank.
The bank will make the necessary copies of the statutory documents and the applicant's international passport and open a savings account (accumulation note), which, after registering the company, must be closed and a settlement account opened.
The cost of opening a savings account with the Bulgarian bank "Unicredit Bulbank" is 10 Bulgarian leva. It is necessary to keep the receipt for the contribution of the authorized capital! Once the account is opened, you can proceed to the next step.
PAYMENT OF THE COMMERCIAL REGISTER OF THE REPUBLIC OF BULGARIA FOR THE REGISTRATION OF A COMPANY
You can also pay at the bank commercial register tax for the registration of a Bulgarian company. Considering that in our example the applicant is a foreign individual, he cannot apply electronically - mainly Bulgarian lawyers use this right. Accordingly, the cost of the tax will be 110 Bulgarian leva, according to the Tariff on State Taxes collected by the Entry Agency ( last change entered into force on February 14, 2014). Payment is made to the account of the Commercial Register in Tokuda Bank using the following details:
TB „TOKUDA BANK” AD
IBAN: BG36 CREX 9260 3114 5494 01
BIC: CREXBGSF
You must keep your payment receipt!
After paying the fee, taking a full package of statutory documents and a receipt for the payment of the authorized capital, you can go to the Commercial Register and apply for company registration.
APPLICATION FOR REGISTRATION OF A BULGARIAN COMPANY IN THE COMMERCIAL REGISTER
The commercial register at the Registration Agency is located in every regional center of Bulgaria.
You have to go there and take form A4, which is filled on the spot and submitted to the receiving window. This form can be downloaded from our website, printed and filled out at home. Form A4 itself contains instructions for filling out in Bulgarian. In the future, on our website there will be an explanation for filling out the A4 form.
When submitting an application along with a package of documents, the applicant receives an incoming number, by which he can track the procedure for registering a company on the website of the Trade Register. If you have any difficulties, please contact the employees of "In Bulgaria" Ltd. On our website you can get acquainted with the algorithm of working with the portal of the Bulgarian Commercial Register.
The term for consideration of the application is usually up to one and a half weeks. As a result, the new Bulgarian company will be entered in the Commercial Register, it will be assigned the UIC - a single identification code. Or, if errors and inaccuracies were made in the preparation of documents, the errors will be reported to the applicant at the contact coordinates that he left when submitting the application. It is more reliable to check for remarks from the judge - registrar on the website of the Commercial Register. Three days are given to correct errors. If the errors are not corrected within this period, the registration fee will have to be paid again and the application submitted to the Commercial Register again.
After the company is registered, it remains to do a few final steps important steps.
STAGE AFTER REGISTRATION
Once a new Bulgarian company is registered and the applicant knows its EIC, he can apply to the Commercial Register for a certificate of current status. This certificate is the main confirming document of the existence of the company. The cost without bank tax is 7 Bulgarian leva. Issued on the spot, upon application.
Next, you need to order company seal. To do this, contact a company engaged in printing services. Very often these functions are performed bookstores(bookkeeper). The term of production of the press usually does not exceed days. The cost depends on the mechanism chosen when ordering. Prices start at about 8 Bulgarian leva for a simple print. When ordering a print, you must present the Certificate of Current Status, the employee will make a copy of it.
OOD is a limited liability company with two or more founders, a legal entity whose founders may be two or more participants. The capital is formed from the contributions of the participants, the minimum capital for opening a company is 2 leva. Each of the partners is responsible for the obligations of the company within its share.
Solely Friendship with Limited Excuses (EOOD)
EOOD is a limited liability company with a single founder, a legal entity that has rights and obligations and is liable with its property to creditors. The minimum capital for setting up a EOOD is 2 leva.
Joint Stock Friendship (AD)
AD is a joint-stock company, organization or enterprise, the authorized capital of which is formed from a certain number of shares, which are distributed among the shareholders and regulate their relationship. The minimum authorized capital for opening a joint-stock company in Bulgaria is 50,000 levs.
Collective friendship (SD)
SD is a general partnership, an organization formed by two or more persons (both individuals and legal entities) for the purpose of making a profit. Participants are liable to obligations with all their property. The amount of initial capital is not limited.
Command friendship (CD)
KD - limited partnership, partnership with two types of participants: the main leads entrepreneurial activity organizations and are fully liable for their obligations, contributors make additional contributions and bear risks within the limits of their contribution. This is the main difference between a limited partnership and a full partnership, otherwise it is similar.
Team friendship with the action (KDA)
KDA is a limited liability partnership with shares, a company that combines 3 types of organizational and legal forms: AD, SD, CD. The partnership has 2 types of participants: main ones with full unlimited liability (minimum 1) and additional ones with limited liability (minimum 3). At the founding meeting, shareholders with full responsibility shall be appointed unlimitedly responsible shareholders. The minimum initial capital is 50,000 leva.
Sole trader (ET)
ET - individual entrepreneur, an individual who is a citizen of Bulgaria or a foreign citizen who is in the status of permanent residence or long-term residence. ET is liable with all its property for obligations. Initial capital not required when opening.
