Easy company formation

Use our simple 3 step process and register a limited company today.

Bulgaria is among the countries where company incorporation procedures can be conducted quite hassle-freely, subject to a series of prerequisites which are to be fulfilled. The Bulgarian state is very open to foreign investment, providing a welcoming environment for persons interested in opening companies in any sector. 
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1) First step - In order to establish a company in Bulgaria, the shareholders are required to comply with certain standard and well structured procedures. Upon expressing an interest for Bulgarian company formation, the client is asked to provide the denomination of the future entity; as the respective denomination must firstly be checked and then reserved, the client is given the possibility to state three such names as per his/her choice. Concurrently, the client should fill out a given form where information related to the shareholding structure and company’s intended activities is provided. To be able to open a company in Bulgaria, along with this form and depending on the shareholding structure, the client should also provide a series of documents among which we mention: copies of the passport, utility bills, articles of association, certificate of incorporation and certificate of good standing that are to be used in the incorporation process. Most foreign investors opening a company in Bularia choose not to visit the country for this purpose and to delegate powers to a representative through a Power of Attorney. Based on this specific document, duly notarized and apostilled, the company can be registered with the Company Registration Office and also the company’s bank account can be set up. The company is considered legal and operational, once these steps are complete and the registration documents are issued.
2) Secondly - there is a last series of documents needed for the registration process. These are the company's name uniqueness certificate, the receipt for paid state taxes and the state tax for publishing in the State Gazette.
3) The last step of company formation in Bulgaria is registration for VAT tax, by filling an application to the National Revenue Agency. This application must contain the agreement of association of the company, the bank account document, or the document attesting the contributions value, the registration document from the Commercial Register and it must be signed by the managerial board, or the founders.
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REQUIREMENTS FOR COMPANY FORMATION IN BULGARIA

  • Any person of any nationality or residence can be director or shareholder in a company opened in Bularia;
  • the shareholders of a company established in Bulgaria can be both natural persons or legal entities;
  • a company in Bulgaria must hold a local registered office (service provided by BridgeWest)
  • the minimum share capital requirement for establishing a Limited Liability Company in Bulgaria is of 1 EUR

SERVICES PROVIDED FOR COMPANY INCORPORATION IN BULGARIA

  • drafting the Articles of Association (necessary for the company incorporation in Bulgaria); the Articles of Association of the Bulgarian company can be signed through Power of Attorney (the same applies to Public Notary proceedings, a step required by the Bulgarian Law).
  • drafting all other documents required for the incorporation of the Bulgarian company; these documents include: Specimen Signatures, Special Forms provided by the Company Registration Office in Bulgaria, passport copies etc.
  • arranging Public Notary procedures (The procedures for incorporating a company in Bulgaria have to be done through a Bulgarian Public Notary);
  • offering a Registered Office in Bulgaria for your company (if required); the registered office may be any address where the Bulgarian company declares to have its headquarters. The registered office will be public.
  • setting up a bank account for your Bulgarian company.
  • This refers both to an initial share capital account as well as a current bank account after the company is formed.
  • recommending an accountant in Bulgaria; accountancy services are recommended for any new business incorporation in Bulgaria.

Larks  is also able to offer ready-made Bulgarian companies and VAT registration.

Establishing a company in Bulgaria can be done by:

  • Setting up an O.O.D. ( Druzhestvo z Ogranichena Otgovor - Limited Liability Company) This type of Bulgarian company can have one shareholder and one director and must maintain a local address (office) and a minimum share capital of approx. 1 EUR.
  • Registering an A.D. ( Aktsionerno Druzhestvo - Joint-Stock Company ). This type of Bulgarian company can have at least two shareholder and maintain a local address and a minumum share capital of 50,000 BGN (approx. EUR 25,500).
  • Establishing a Bulgarian Branch, Subsidiary or Representative Office, which can be done through our attorneys in Bulgaria. Any foreign company is able to set up branch entities in this country. These can be set up as separate entities from the parent company (Bulgarian companies having the foreign company as shareholder) or extensions of the parent-company in Bulgarian.

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