Create a company in Bulgaria
Starting your own business and managing it requires first of all creating a legitimate company. There are a lot of benefits of having a company in Bulgaria. Every person who has reached the age of 18 regardless of their citizenship can found a company. You can start by selecting the services you want to offer and proceed with the administrative part of registering it.
Let us explain why you should register a company in Bulgaria. There are a lot of tax benefits and we are a member of the European Union which allows you to develop your business in Europe and worldwide. As a Bulgarian company owner you can also take benefit of great human talent at affordable price – well educated, qualified personnel, speaking one or more foreign languages. In Bulgaria a lot of high quality business services are offered, you can buy real estates or outsource some of your operations.
Take a look at the taxes in Bulgaria:
Corporate Profit Tax – 10% flat
Dividend Tax – 5%
Distributed to EU/EAA Companies – 0%
VAT – 20%
VAT on Tourism – 9%
VAT on EU Supplies – 0%
VAT on Export – 0%
Even if you are not located in Bulgaria but still want to found a company here there is a possibility to do that without visiting the country. It is a little bit more complicated but not impossible – the company’s Director just needs to visit Bulgarian Embassy or Consulate.
According to the Bulgarian law you can start a company with 2 BGN (€1) which would be a Limited Liability Company. It must be deposited in a local bank prior to the registration.
The company must have a business address in Bulgaria whereas the registration process does not require to provide any lease or ownership documents of the address.
Keep in mind that there are several monthly and annual obligations regarding your company – monthly social security tax, if registered under VAT – monthly VAT declarations, annual
financial declaration for the whole previous year at the National revenue agency and annual financial report at the Commercial register.
The use of accountant is strongly recommended. We can guide you through the whole process from creating the company to accounting.