Why choose Bulgaria?

Bulgaria is a member state of the European Union, NATO, the Council of Europe and the World Trade Organization. Business climate in the country is good. The stability of Bulgarian currency (BGN) is supported by the currency board. The registration of a company in Bulgaria provides a number of advantages.

One of the main advantages is the right to do business in the entire European Union, regardless of the fact that the corporate tax rate is only 10% - the lowest rate all over Europe.

Bulgaria provides the most competitive labour related costs in Central and Eastern Europe. Employees are well educated, highly qualified and they speak foreign languages. The minimum wage in the country is very low (about EUR 200) and has low social insurance related costs. Bulgaria has a strategic location – between Europe and Asia, in the heart of the Balkan peninsula. Bulgaria has a common border with two other EU member states – Romania and Greece.

Bulgaria has also signed conventions for the avoidance of double taxation with other countries (including Russia, Turkey and the United Kingdom).

In addition, the registration of a company will entitle you to acquire title on land and immovable property, to make deferred payment of goods, to conclude lease contracts for the purchase of vehicles, and, most importantly, to enjoy a wide range of services on a par with Bulgarian citizens

We have liberal trade and tax legislation and cheap labour market, which makes the country one of the most preferred by many foreign investors for setting up their business.

What kind of company to register?

The most common legal form of business registration is LTD or limited liability company (OOD). This may well be the best form of business due to the safety and convenience it offers. The company is formed by an unlimited number of associates whose liability is limited by their contribution in the capital. It is exceptionally advantageous to register a limited liability company as unlike other jurisdictions, the minimum required capital for the formation of the company is only BGN 2 or EUR 1. This also applies when you have no associates; then the legal form is EOOD (Single member limited liability company).

The most important document which is necessary for the registration of a limited liability company is the Memorandum of Association. Companies of this type are managed, represented and subscribed by their manager, who is appointed by the General meeting of the associates. The manager or managers of the company may also be an associate in the company. In case of a Single member limited liability company, the owner of the company may also be its manager.

The seat and the registered office of the company may be located anywhere in Bulgaria. However, it must be noted that the address of the company determines the relevant territorial jurisdiction of the National Revenue Agency which will serve your company, respectively will be convenient for your accounting.