Bulgaria offers businesses ongoing tax advantages and cost-saving set up costs of incorporation. The IFC rates it 9th among Eastern Europe and Central Asian countries for ease of doing business. Its capital Sofia has the lowest office rental rates of 48 cities in Europe according to MBL.
The country is currently one of the most popular destinations in Europe to set up a business. It is politically and economically secure. Its year on year GDP growth of 3.7 percent and has the lowest unemployment rates in Eastern Europe. Let us explore company set-up step by step.
FOREIGN SHAREHOLDERS: No restrictions on the nationality or residence of directors or shareholders.
LOW TAXES / COST LIVING: Fixed tax rate of 10%. Generally, costs are low.
BEST LOCATION: Quick access to both Eastern and Western Europe.
QUICK COMPANY SET UP: Just 5 days to set up a OOD company.
With the company active and your business running we maintain accounting and legal requirements.
Once analysed a proper solution for your project we implement the strategy and set up the company.
We providing you with optimal solutions for your specific project after the initial analysis of your business model.
Setting up a company is an important decision and a feasibility study will be suggested by us.
Bulgaria became a member of the WTO member in 1996, NATO since 2004 and a European Union member since 2007. The country displays significant economic growth, supported by exports and by strong internal demand. This positions it as a very dynamic Eastern European country.
Bulgaria has signed bilateral double taxation conventions with more than 68 countries around the world including EU member states plus Switzerland, Norway, Turkey, countries in the Middle East and North Africa countries.
The Limited Liability Company: OOD
The Bulgarian limited liability company “OOD” is the most practical form of setting up a company in Bulgaria.
Associates: one or more, natural or legal persons.
If just a single partner, it is called an EOOD.
Minimum capital required: 2 leva (1 euro), divided into minimum nominal shares of 1 lev each. The capital is held by the partners. Their liability is limited to the subscribed capital.
The statutory bodies are the general meeting of partners, which must be held at least once a year, and the manager. The company must produce an annual balance sheet and income statement.
The Bulgarian Joint Stock Company (SA): AD
The Bulgarian joint stock company “AD” is like the French public limited company.
Partners: at least two shareholders, whose liability is limited to its contributions.
Minimum capital required: 50,000 leva (25,000 euros). The shares can be registered or bearer.
The main body of the company, the general meeting of shareholders is held at least once a year. The general assembly elects the board of directors (the Bulgarian SA must have between 3 and 9 directors) and the supervisory board if this mode of management is chosen. Finally, it should be noted that the joint stock company AD must produce an annual balance sheet and an income statement.
Company Collective “SD”, in Limited Partnership “KD” or in Limited Partnership by shares “KDA”
Associates: at least two for the SD and the KD / at least 3 sponsors and 2 sponsors for the KDA.
No minimum capital.
Most of banks that open business accounts are local banks with a high quality of service and attractive bank rates. Company registration can be remote, but a face-to-face meeting with the banker may be required to activate the company bank account.
