FSet up business in Bulgaria – starting a business in Bulgaria by foreign and Bulgarian citizens
Set up business in Bulgaria – is it easy? How to establish, register and form a company in the country. There are a few things you should know before proceeding to register a company in Bulgaria. The first is the legal form of your business. The differences between OOD, AD, BD and others are significant. It is necessary to consult with a law firm on the matter! However let’s see a little more about the registration of companies in the country by Bulgarian and foreign investors.
Set up business in Bulgaria – what do we need to know?
The choice of legal form is the first thing that business entrepreneurs in Bulgaria face. Typically, the most popular commercial companies in the country used for registration are OOD. AD and it’s derivative EAD are difficult for maintenance. They are typically capital companies. The foreign businessmen also may found a commercial branch in the country . There are things related to subsidiaries and their management. Then, having chosen a legal form for your company, Set up business in Bulgaria faces the choice of a company name. You can save it by paying a fee. Also you can look at the e-commerce registry, whether your name is free and go to sign up with it!
Your choice must be OOD or EOOD because it has a minimum initial capital and a limited liability. You need to create a new bank account. In it you will lodge the initial capital, which minimum is 2 leva. Here is a catch – you can only prove with an import note the existence of an account and capital! You do not need an Initial Capital Certificate. If you ask for such certificate the bank will charge you a lot. Set up business in Bulgaria continues with the filing of company registration documents.It is good to use a specialized law firm that will do it for you in the best way possible. Why? Just because they know the laws better.
Today’s electronic submission of registration documents is linked to a number of benefits that you should be aware of. Only legalized office with a valid electronic signature can submit electronic documents. So by using it – you save money from fees. Paper documents can be filed in all Registry Agency offices. Furthermore these do not need to be filed at the address of the trading company. Then submitted documents are processed within three business days. Electronically you can see whether you have registered the business in Bulgaria properly.
Set up business in Bulgaria for foreign citizens has a little more peculiarities.
The company can register remotely or locally. Remote sign-up involves procedures for issuing a power of attorney and certifying a specimen, which is nevertheless enforceable. However in case of direct registration of the company in Bulgaria by foreign persons, the main feature is the preparation of documents for registration in two languages and their certification in a notary. Set up business in Bulgaria today and gain from its many benefits in the future.