Bulgarian Company Formation

А new business company formation in Bulgaria does not take more than two work weeks. The minimal required start-up capital is 1€ or BGN 2. The major varieties of companies that can be formed and registered in Bulgaria are as follows:

• Limited Liability Company (OOD, EOOD) (with one or several owners of the capital);
• Sole trader;
• Joint-stock company (AD or SAD) (with one or several owners of the capital).
There are several good reasons for a Company Formation in Bulgaria
• Fisrt of all, with 10% corporate tax, Bulgaria is the country with the lowest rates in the EU.
• Together with the formation of а company, there is а possibility to create accounts in the same jurisdiction so that the company and the account are available in the same country.
• The European VAT number can be obtained when creating the company, which is often impossible in many other European countries such as UK and Malta.
• A stable tax system, which has remained unchanged for 10 years, and the government’s intention to keep it long-term in the future.
• It is easy and quick to establish а business entity in Bulgaria. No residence permit is required for а company formation.
• Low cost of creating and maintaining the company, low wage costs for local employees.
Registration in the Commercial Register of Bulgaria is a requirement for each business company formed in the country. Submittion of its annual accounts and annual tax returns is also required. The overall procedure of Bulgarian company formation includes several mandatory steps. They are as follows:
• Choosing the most appropriate form of the company. Large business entities usually use the Joint-stock company form, while small or medium companies prefer Limited Liability Company form.
• Getting the complete set of documents that need to be printed, signed and authenticated before your company is formed.
• Registration of your company using your own address for registered office and appointment of your own employees as Managing Director (sole owner) and / or owners of the capital;
• Payment of state fees for company registration;
A trustworthy Bulgarian Law firm can perform all these steps for you and thus save your money and efforts.