Why register a company in Bulgaria?

Why register a company in Bulgaria? The establishment and registration of a company in Bulgaria by foreign citizens has several advantages. The country’s legislation is in line with EU law, which facilitates operation of foreign investors. Its tax system is also extremely beneficial to them. All sources of income are taxed with only a 10 percent flat tax, which is among the lowest tax rates in the EU. The country is a part of several favorable tax treaties concluded with its European partners. The skilled and well-qualified laborforce in Bulgaria is relatively low-cost and the problem with corruptrion is successfully resolved.

What are the most commonly used forms of company registration in Bulgaria?

• Small and medium-scale businesses usually prefer Limited Liability company type. This type of a business entity is represented by two main forms- EOOD with a sole ownership and OOD with multiple ownership.
• Largescale businesses typically use Jointstock company type with its two basic forms- EAD with a sole ownership and AD with multiple ownership.

What is the amount of the minimal capital to register LLC company in Bulgaria?

Only BGN 2 which is equal to EU1 is the required minimum for the start-up capial.

What formalities are required by Bulgarian Law for registering a LLC company?

Copy of individual or corporate identity documents are necessary, as well as a special bank account in which the share capital should be placed and the notarized articles of association, drafted and signed by the shareholders.

Are there any other requirements for LLC company registration in Bulgaria?

The company needs to have at least one director to represent it infront of the authorities of the country. There is no need for the director have a residence in the country. A bank account and a local address of the company are necessary for communication with the authorities. Whether partners are nationals of an EU Member State or outside the EU, they are required to abide by the Commercial Law and all obligations, deadlines and responsibilities ensuing from it.

In general, the remote registration of a company is often preferred because travel and subsistence expenses of a foreigner in Bulgaria are usually many times more than the extra costs associated with the certification and legalization of documents done by a professional Law firm.