Company formation/incorporation

Benefits of a Bulgarian Company:

  • Fast incorporation procedure;
  • 100% Foreign Ownership allowed;
  • No restrictions for nationality of the Manager and the Shareholders;
  • Low incorporation costs;
  • Low administration & accounting fees;
  • Wide range of non-licensed activities;
  • Corporate bank account in well-reputable banks;
  • Оnly 10% annual corporate income tax.


Incorporation costs and reqirements:

General information
Company typeLimited Liability Company (OOD)
The most common legal form of business association in Bulgaria
Joint stock company (AD)
The most common legal form of large scale operations
Timeframe for company formation3 days (further information below)
LabilityThe shareholders are liable for the company's obligations to the extent of their share contributions to the company's capitalA joint stock company`s liability is limited to the amount of its assets.
Share capital
Standard CurrencyBGN
Minimum capital requirementBGN 2 (approx. EUR 1)BGN 50 000 (approx. EUR 25 600)
Shareholders
Minimum numbers of shareholders1
Corporate shareholderAllowed
Foreign shareholderAllowed
PublicityThe names of the shareholders appear on public records, however nominee services are availableStocks can be in the name of the holder or to a bearer. The names of the shareholders appear on public records only in the first case.
Directors
Minimum numbers of directors13
Corporate director allowedNot allowedAllowed
Foreign directorAllowed
PublicityThe names of the directors appear on public records, however nominee services are available.
Local SecretaryNot Required
Registered officeRequired
Accounting requirements
Requirement to prepare and file annual reportsYes
Requirement to appoint an auditorNo except for certain cases provided by lawYes
Annual corporate income tax10%
Fees:
Incorporation fees:EUR 350 *EUR 900 *
 * Including our agency fee and the official state fee. Excluding fees payable to third parties like banking fees, notary fees, fees for translation and legalization.
Support in opening of a bank accountEUR 120
BG TAX identification number & EU VAT numberEUR 250
Provision of registered officeEUR 480/year
Monthly fees receiving & forwarding mailsEUR 120/month
Filling of yearly financial report100/year
Monthly accounting fees for up to 20 entries into the company books200/month


Necessary documents:

• Copy of the shareholder(s) passport/ID (if natural person)

and/or

• Certificate/s from a foreign Company – shareholder showing the registration number, registered office address and the legal representative/s, bearing the note Apostil (in case of legal entity)

All other documents will be prepared by our team.


Procedure and timeframe:

1. Consultation with our team`s member (per phone, e-mail or in person);

2. Drafting the necessary documents;

3. Signing the documents before a notary in Bulgaria or at a Bulgarian Consulate/Embassy;

4. Opening of accumulation bank account and depositing the capital of the company in Bulgarian Bank;

5. Submitting the incorporation file to the Trade register;

6. Obtaining the certificate of incorporation of the company;

7. Transformation of the accumulation bank account into current bank account.


The preparation of the necessary documents depends mainly on the client`s preparedness and locality.

With a prior arrangement and on the personal presence in Bulgaria our team may organize the completion of points 1-5 within 1 working day.

Once submitted to the Trade Register, it will take up to 3 working days to complete the registration procedure.

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