How to Start a Business in Bulgaria

How to Start a Business in Bulgaria

How to Start a Business in Bulgaria

Why Start a Business in Bulgaria?

Bulgaria offers an attractive business environment with low corporate taxes, affordable labor, and access to the European Union market. The country is known for its favorable tax rates, simplified registration process, and strategic location in Southeast Europe.

Step-by-Step Guide

1. Choose the Right Business Structure

The most common types of companies in Bulgaria are:

  • Sole Proprietor (ET)
  • Limited Liability Company (OOD or EOOD)
  • Joint-Stock Company (AD)
  • Branch Office or Representative Office for Foreign Companies

2. Register the Company Name

Check the availability of your company name and reserve it through the Bulgarian Commercial Register.

3. Prepare the Necessary Documents

Depending on the business structure, you may need:

  • Articles of Association
  • Declaration of Consent from Directors
  • Specimen Signatures
  • Bank Certificate for Paid-in Capital (for OOD/EOOD)

4. Open a Bank Account

Set up a business bank account and deposit the minimum required capital. For an EOOD/OOD, the minimum is typically 2 BGN.

5. Register with the Commercial Register

Submit the prepared documents to the Bulgarian Commercial Register. This process usually takes 1-5 business days.

6. Obtain VAT Registration (if applicable)

If your business turnover exceeds 100,000 BGN annually, or you trade within the EU, VAT registration is mandatory.

7. Register for Social Security and Taxes

Register your employees and your company for social security and tax purposes with the National Revenue Agency.

Additional Tips

  • Consider consulting with a local accountant or lawyer.
  • Explore available government incentives for startups.
  • Research the local market and competition.

Useful Links

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