Start a business in Bulgaria
Every business person knows that one of the main things when starting any activity is choosing the right location.
Maybe you have been heard much about Bulgaria. It is a famous country due to its beauty, a destination with proper conditions for both summer and winter tourism, the rose oil, the “magical” voices and much more nice stuff regarding that country with a long and quite interesting history.
What about nowadays when it comes to the economic stability? It is an attractive country to start business in.
Start-Up Business Lawyer Bulgaria
Many expats come to Bulgaria with the idea to start a new business or move the one that they have in their home country and take advantage of the favorable tax (10% corporate tax) and business climate for a Bulgarian company formation.
Bulgaria has a simplified process of registering companies for foreign businesses. Note that you can register a company here from another country without necessarily coming to Bulgaria.
This can be done through the power of attorney.
Before you start the registration procedure you will need to think about these requirements:
- Your company must have an address in Bulgaria;
- Your company needs to have initial company capital which has to be deposited in a local bank;
- You must choose a name and scope of activity for your company.
Very important: Choose your Legal Business Form
There are several options that can be chosen as the most common of them are, this decision will affect the way you do business, and how you can operate your company, your company liability:
- “Single person Limited Liability Company ” (EOOD) – an entity with one single owner with limited responsibility
- “Private Limited Liability Company” (OOD)– owned by two or more partners with limited responsibility
- “Sole Owner” (ET) – a simplified entity form which is appropriate for very small ventures (full owner’s responsibility)
- “Freelance” – a personalized individual registration
- “Public Limited Company” (AD) – joint-stock company – a commercial company with share capital owned by its members
- “Branch in Bulgaria” – Foreign legal entities registered abroad can register a branch in Bulgaria
Here you can find the essential reasons why to choose exactly Bulgaria:
- Bulgaria is a strategic logistics place also due to its location – in the “heart”of the Balkan peninsula.
- The name “Balkan” actually comes from the mountain which is spread along in the middle of the country.
- The longest mountain chain in the That location provides an easy access to all important markets in Europe, Middle East and Asia.
- Since 2007 Bulgaria is a member of the European Union, and earlier – of NATO and WTO. Our currency BGN (Bulgarian Lev) is steady thanks to the support by the currency board. The exchange course keeps the level 1 EUR = between 1.95 and 1.96 BGN.
- The tax regime in Bulgaria is not hard. Our country has got the most favourable one comparing to the other European countries.
- The rate of the Corporate income tax is 10% which is the lowest in the European Union.
- The rate of the Personal income tax is 10 %.
- Personal income tax is only 10 %.
- High-unemployment areas are granted with 0% tax rate.
- Withholding tax on dividends and liquidation quotas is 5% (0% for EU tax residents).
- Bulgaria is gifted with clever, highly educated and skilled professional employees, lots of them – multilingual. That makes our work force preferable.
Our law office support your business activities to start well and seamlessly, so that you will be able to take advantage of all the opportunities and options our country is giving you. Call us now on + 359 897 90 43 91 or send us your legal inquiry at office@lawyer-bulgaria.bg
