Our mission is to complete the business relocation process in Bulgaria without any problems or surprises, providing to our customers high quality services at competitive prices.
Bulgaria Company Registration
Why choose Bulgaria as a destination
Bulgaria is a member of the European Union (EU), NATO, the Council of Europe and the World Trade Organization (WTO). The business climate in the country is good. The stability of the Bulgarian currency (lev) is supported by the currency board. Bulgaria has the lowest tax regime in the EU. The personal income tax is 10%, flat rate.
Bulgaria has a strategic position – between Europe and Asia, at the heart of the Balkan Peninsula and a common border with two other EU countries, Romania and Greece. The registration process is quick and simple.
Bulgaria has also signed agreements to avoid double taxation with other countries (including Russia, Turkey and the United Kingdom). Liberal trade and tax laws, cheap labor markets and low social security costs make the country one of the preferred options for many foreign investors.
Limited liability company
The Bulgarian Limited Liability Company (OOD) or OOD (Bulgarian) is probably the best form of business, mainly because of its security and convenience to its members whose liability is limited to their contribution to the capital of the company. It is considered very advantageous to choose OOD due to the reduced share capital, which can be only BGN 2.00. The basic documents for registration of Bulgarian Company OOD are the Company’s Founding and Articles of Association. This type of company is managed by a director appointed by the general meeting of shareholders. Company name must be unique and followed by ‘OOD ‘. A Bulgarian limited liability company may have only one shareholder, who may at the same time be an exclusive representative and manager.
The company can carry out work from any address in Bulgaria, even if it is different from the registered office.
The advantages of the Bulgarian Limited Liability Company (Ltd / OOD) are:
- The company does not need to have a manned office but just an address that we can supply.
- Annual maintenance charges are reasonable, as do professional service fees, for example. Book-keeping.
- The establishment of the company can be completed remotely, as well as the opening of a bank account in a Bulgarian bank through a proxy.
- Registration usually takes 2-3 weeks.
- In addition, your business may become a tax resident in the country and employ third-country nationals (after obtaining a residence permit and a work permit).
- It is possible to appoint company representatives (which we can provide).
- According to the legislation in Bulgaria, the minimum number of people to be employed in the company is one. They will receive a salary and pay social security contributions.
- The minimum required capital is symbolic at the rate of 1 euro.
- The company’s establishment does not automatically lead to operating costs. If a company is dormant, ie it does not engage in any activity, then it does not have any financial obligations. The only obligation in this case is to submit an annual tax return. The accounting services used in this case are not so expensive, as the process is not complicated.
- When the company starts operating, then other than taxes (10% on profits), the other main costs are wages and social security.
- Bulgaria has signed agreements to avoid double taxation with many countries in the world. First, this means that taxes will be paid only in one of the countries. This country could be Bulgaria, where taxes are often lower than in other countries.
- The company’s profit may be distributed to the owner / shareholder at his discretion for personal use after payment of the 5% dividend tax and after corporate tax (10%) has been paid.
- The company may have only one owner who also is the manager to sign for the company – in this case there is no need to appoint a manager.
- The manager can be appointed at the sole discretion of the owner and may be given some representative powers fully controlled by the owner. This minimizes the chances of abuse.
- It is common practice for a Bulgarian foreign company to hire workers in Bulgaria and to inspect them occasionally. Labor costs are low and service quality is very satisfactory.
- Social security contributions paid to employees are also resonable.
One of the most important advantages of the Bulgarian company (as a company belonging to the EU) is that there are no duties for transactions within the Union. Thus, a company can produce / assemble or pack goods in Bulgaria (processing operations) and then export them completely tax-free – to another European country.