To register company in Bulgaria
Register company in Bulgaria – what is the point to put this effort?
To form and register a business entity in Bulgaria can bring several benefits to the investors. Primarily, Bulgarian legislation system offers the freedom to easy and fast set up а company through a simplified procedure without unnecessary formalities. The country’s tax system with ots 10 percent flat income tax is also favorable to foreign investors. Low labor costs make it easy to recruit highly-qualified staff. It is extremely quick, cheap, and easy to form and register а company in Bulgaria. Maximum two weeks are needed for the registration procedure and it costs less than BGN 300 or EU 150. Company registration is among the cheapest in EU. Phisical presence in the country for the procedure is not necessary, which fascilitates foreign investors.
Who can set up and register company in Bulgaria?
Any adult citizen, regardless of his/her citizenship, aged 18 can form and register company in Bulgaria.
What type of company is recommended to form and register in Bulgaria?
The choice of the company form depends on the business scale. OOD, which refers to Limited Liability companies is the most popular form in Bulgaria. This form is most commonly used by small and medium business, while а Joint-stock company form is preferred by larger businesses.
What are the mandatory steps to form and register а company in Bulgaria?
The registration procedure is simple and includes:
Preparation of required papers and their submission to the Bulgarian Commercial register.
Payment of required fees and taxes.
Opening an escrow bank account with the required starting capital of Eu1.
Although the registration procedure is simple, it has a strictly formal character, which poses the risk of rejection by the Register in case of any mistake or omission. This means to invest additional time and money. That is why hiring professional Law firm for the registration procedure is highly recommended. The team is responsible for dealing with all procedures in Bulgaria, including the transfer of capital and the submission of all necessary documents.