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Company incorporation in Bulgaria

Bulgaria is a member state of the European Union, which, due to its convenient  geographic location and simple taxation system, is a favorable jurisdiction for business entering in the EU market and carrying out investment activities.

Establishing a company in Bulgaria is a quite profitable solution for starting a business in the EU: convenient location, low tax rates and favorable legislation

Company incorporation in Bulgaria

By choosing Bulgaria, you get the following benefits:

  • A company in a jurisdiction with a high reputation without the status of an offshore zone;.National treatment of the company.
  • Relatively low costs for company registration and annual maintenance.
  • Minimum corporate tax rate for EU countries is 10% of profits.
  • Tax rate on dividends is 5%, outgoing dividends to EU countries is 0%.
  • VAT rate is 20%. Companies with an annual turnover of more than BGN 50,000 (approximately EUR 25,500) are required to register as VAT payers.
  • Avoidance of double taxation with a large number of countries.
  • Opportunity to keep accounting records in accordance with IFRS.
  • Opportunity to legally conduct a gambling business, including online.

You can conduct business in Bulgaria in the following organizational and legal forms:

  • Private Entrepreneur;
  • Joint Stock Company;
  • Limited Liability Company with several Shareholders (ООД);
  • Limited Liability Company with one Shareholder (ЕООД).

The most common form of doing business is Limited Liability Company.

Features of Limited Liability Company in Bulgaria:

  • A shareholder can be one (ЕООД) or several (ООД).
  • The sole shareholder can be the sole director.
  • A shareholder can be an individual or a legal entity, a director – only an individual.
  • A secretary presence is required.
  • There is no requirement for residency of a shareholder, director and secretary.
  • Minimumauthorizedcapital is BGN 2 (EUR 1).
  • Information about shareholders, beneficiaries and directors is publicly available in the public Register.
  • A legal address in Bulgaria is required. It is possible to use a real office or a legal address service.
  • Keeping accounting records is obligatory.

Company registration in Bulgaria includes the following stages:

  • Choice of name, check in the Companies Register for the presence of an identical or similar name to the extent of confusion.
  • Preparation of a package of documents.
  • Payment of registration fees and charges.
  • Registration in the Register.

What do you need for a company registration:

  • Unique name (preferably 3 options);
  • Scanned copy of passport and confirmation of the address of beneficiary/shareholder/director.

VigoLex works closely with Bulgaria and knows its pros and cons, therefore, it can provide comprehensive information for clients and help start or structure an existing business in this country.

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