Business in Bulgaria

If you plan to start a company in Bulgaria, first you need to choose its legal form. The criteria for choosing the right legal form include:
• legal content, especially with reference to liability;
• type of management;
• share of profits or losses;
• funding capacity;
• tax liabilities;
• costs related the legal form (upon registration, capital increase, accounting costs upon certification and publication of the financial statements).

Each of these forms has its advantages and disadvantages. Whichever of them matches your purposes the most will depend on the specific case.

In the choice of legal form you are advised to consult our lawyers – they will advise you of the most

optimal variant for you. The most common forms are: Ltd. and SMLLC. Ltd. (limited liability company) is established by two or more persons. SMLLC (single member limited liability company) – by one person. The minimum amount of the initial (share) capital in both cases is 2 Levs (~ 1 €). The procedure for starting a legal person with any of these legal forms in Bulgaria takes about two weeks. The fees for incorporation of a company with the assistance of our lawyers is € 500 payable as a lump sum. Further on, you may use the services of our accountants to assist you with record keeping and annual reporting of operations.

The incorporation requires:
• Copy/copies of the international passport of the founder/co-founders of the company;
• Name of the company (unique business name);
• Headquarters and registered office address of the company;
• Minimum share capital in the amount of 2 BGN. In case a larger amount is contributed, it can be used after the company registration.

The basic company documents are:
• Resolution of Incorporation;
• Articles of Association;
• Management Agreement.

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