Company Formation Bulgaria
Bulgaria is a small country in Europe. It neighbours Romania, Turkey, Greece, Serbia, and Macedonia. The country joined the European Union in 2007 and has seen increased economic growth. Its GDP reached $168 billion in 2018 and is expected to grow by more than 3%. This is greater than the EU average of less than 2%.
Why Register a Company in Bulgaria?
There are several reasons you may want to register a company in Bulgaria:
- Strong neighbouring countries – Bulgaria has relatively strong neighbours that are seeing impressive growth in the past few years.
- EU member states – Bulgaria is an EU member country. This has a benefit in that it enables companies to conduct business internationally without paying border tariffs.
- Low corporate taxes – Bulgaria has a corporate tax rate of 10%. This is the lowest rate in the European Union.
- Low business costs – The country has low business costs like labour and office costs.
- Young and well-educated workforce.
Types of Businesses You Can Register in Bulgaria
There are several types of businesses you can register in Bulgaria. These are:
- Private Limited Liability Company (OOD) – This is a business that is suitable for small and medium enterprises. There is no need for minimum share capital.
- Public Limited liability company (AD) – This is a limited liability company that must be formed by at least two members. The minimum share capital that is required is BGN 50,000. This is equivalent to EUR 25,000.
- Sole proprietorship – This is a business that is suitable for solo entrepreneurs. The entire liability is on the entrepreneur.
- Partnerships – These are companies formed by two or more partners.
Documents Needed to Register a Company in Bulgaria
There are a number of documents that are required to register a company in Bulgaria. The most important ones are:
- Identification card.
- Resident documents. This is for foreigners who are registering their companies in Bulgaria.
- Memorandum of association – These are prepared by attorneys.
- Education certificates – These are needed for certain professions. For example, you need to have a law education to start a law firm.
- Intellectual property documents.
FAQs on Company Registration in Bulgaria
How easy is it to register a company in Bulgaria?
Bulgaria is trying to attract many foreign companies. As a result, the country has been investing heavily to become a favourite destination for investors. Therefore, it has simplified the process of starting a company. Indeed, it takes less than two weeks to register a company in the country.
What is the corporate tax in Bulgaria?
The corporate tax in Bulgaria is 10%. There is also an addition tax of 20%.
Do I need to be physically present to register a company in Bulgaria?
No. You can use a lawyer or a consultant to do the work for you. You will be needed to sign documents.
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We are passionate about helping companies succeed. It is in their success that we are also succeed. Other business formation services that we offer are: mergers and acquisitions, restructuring, liquidation, intellectual property, and regulatory advisory. We also help in incorporation of offshore and onshore companies, international trusts, and alternative investment funds.
Companies select us for several reasons. First, we are an award-winning company with a global reach. Second, we always put our customers first because we cannot succeed without them. Third, we are people of high integrity and always put our customers’ budgets in our consideration.