This page aims to show you the types and procedures of starting different Company formations in Bulgaria. In general every foreigner is allowed to open a company in Bulgaria, no matter if he or she has a Bulgarian residency permit or not.
The types of company formations that can be registered in Bulgaria
Limited Liability Company (Ltd) – It is one of the most popular choices for small and medium businesses. An Ltd may be founded with one or more shareholders (individuals or companies) and managers (individuals). The lowest required founding capital of Limited Liability Company is 1 Euro.
Joint-stock company (JSC) – This option is suitable for large companies that want to start business in Bulgaria. The company formation should have one or more registered shareholders (individuals or companies) and minimum three members of the board of directors. The minimum founding capital is 25.565 Euro.
Some Important Company Opening Details
In order to prepare the relevant documents, we will need the following information in advance:
1. Passport details of the shareholder/s and manager/s
2. Suggestion regarding the name of the company : Here you can check Company Name Availability: public brra.bg CheckUps Verifications RightsOverCompany.ra Note: verification can only be done in Cyrillic
3. Activities of the company
The registration procedure takes 3 days. If the required notarized documents are notarized abroad (in case the manager/s decide not to come to Bulgaria) the procedure will be extended with the days required for legalization of the documents.
Owners of recently formed companies in Bulgaria should know that their company will be obligated to pay 10% flat income tax on the profit, no matter of total profit amount.
The companies in Bulgaria should submit their annual tax return for the previous calendar year by the end of March. This is required even when the company has not registered activity for the last year.
Registration of Limited Liability Company (Ltd):
Time frame: 5 days
Cost: The exact calculation depends on the number of the documents that should be translated, legalized at the Ministry of Foreign Affairs and coordinated with the bank and Commercial Register
- € 600 – if the manager/s and shareholder/s are present in Bulgaria
€ 800 – if the manager/s and the shareholder/s will not be present in Bulgaria to notarize the relevant documents
from € 1200 – if the owner of the company will be a foreign legal entity
- All taxes and fees are included:
- – Government fees
– Notary fees
– opening of an initial capital bank account
– Translation and legalization of the documents in the Ministry of Foreign Affairs
– Registration in the Registry Agency
– Commercial Register
– Legal fees
Bank account opening:
We should be informed in advance if the manager will be present personally or will be represented by a proxy with an exact power of attorney.
- Cost: € 100 per account