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Steps For An Incorporate Company In Bulgaria Successfully Without Any Hassles

Just like other countries, Bulgaria also has a set of rules and regulations that have to be followed before you incorporate company in Bulgaria. The Bulgarian Limited Liability company is the most popular choice for small and medium-size businesses. The Joint Stock Company option is great for large companies.

A foreign investor or entrepreneur can set up a sole proprietorship, partnership, representative office, branch or subsidiary in Bulgaria. You must get your documents reviewed and stamped by a notary, deposit the minimum capital required for your company and submit the notarized documents with the Commercial Register at the Registry Agency. Then you must register for VAT. You may also have to consult a lawyer to incorporate company in Bulgaria.

 

Why Should You Choose to Incorporate Company in Bulgaria?

Bulgaria is situated in the Balkan region between Europe and Asia. As it is in such a strategic position, Bulgaria has a lot of potential for growth. It offers many advantages to foreign investors who choose to incorporate company in Bulgaria.

Bulgaria is famous for tourism and its primary income comes from this service sector. Most people there are highly educated and can speak English. The biggest advantage for foreign investors in Bulgaria is in the form of the Bulgarian taxation system. It is very light and does not become a burden on the already overtaxed investors.

The base capital or minimum capital required for setting up an incorporate company in Bulgaria is also less. For LLP, it is as less as €1 and for JSC, the minimum amount is €25,000.

 

Procedure to Incorporate Company in Bulgaria

Before registration, the company representative should hold a constituent meeting of shareholders or a general meeting of partners and must record the minutes of the meeting. Other prerequisites are a notarized statement of consent, the manager’s signature and a copy of the articles of incorporation or partnership agreement. You should deposit at least 70% of the base capital at the bank and obtain a certificate from the bank for the same.

Once you collect all these documents, the registration process becomes simple. You need to deposit the notarized foundation deeds, minutes of the meeting of incorporation and the bank certificate to the Trade Register. All this takes around four days.

Next, you have to fill and submit an application form to the National Revenue Agency. Along with the application, you must include the notarized foundation deed, the bank certificate and a receipt from the Commercial Register, so as to receive a VAT number. This process takes up to 12 working days.

In general, you can incorporate company in Bulgaria within two working weeks. We recommend you to employ a legal form to look into the registration process. After the registration is done, you can hire an accountant for calculating your expenses and taxes.

For more information and guidance on Incorporate Company in Bulgaria, contact 3E Accounting, China. We will help you with all aspects of registration, whether LLP or JSC.
You can contact us by sending an email to request a quotation or get more information about how to Incorporate Company in Bulgaria.