Start a New Business in Bulgaria

The Bulgarian limited liability company, OOD is a form of business especially established by the small and medium companies and it is formed by members with the liability limited to their contribution to the company’s capital.

The main documents of a Bulgarian OOD company necessary for registration are the articles of incorporation and the memorandum of association (the last one in case only one shareholder is involved). The company of this type is managed by a director appointed by the general meeting of the shareholders (considered the highest instance in the entity). The name of the company must be unique and followed by the termination OOD.

Step 1:
At the beginning of company incorporation in Bulgaria, the entity’s representative must execute the minutes of the constituent meeting of the shareholders or the general meeting of the general partners. After that, it is mandatory to obtain a notary certified statement of consent, the signature specimen of the manager and a certified copy of the articles of incorporation or the partnership agreement. A certificate from a bank stating that at least 70% of the minimum required capital has been paid must be obtained before starting the actual entity registration. The certified statement of consent and signature specimen of the manager must be notarized.

Step 2:
The actual registration process of a company in Bulgaria consists in depositing the notarized foundation deeds, minutes of the meeting of incorporation and the bank certificate stating the share capital. The procedure takes around four working days.

Step 3:
The following step of the company incorporation in Bulgaria consists in filling an application to the National Revenue Agency accompanied by the foundation deed, the bank account document or a document attesting the contributions value, an excerpt from the Commercial Register in order to get the VAT number. This process doesn’t take longer than 12 working days.

The whole process of Bulgarian company incorporation performed by a Bulgarian law firm takes around two working weeks. After the registration, you should hire an accountant.

1. REQUIREMENTS AND SPECIFICATIONS

Entity type and suffix:	Limited liability company, OOD
Shareholders/Founders:	at least 1 person or legal entity, foreign entities accepted
– Documents	Copy of I.D. document of a founding partner(s)
Directors:	at least 1 natural person, non-resident directors accepted
– Documents	Copy of I.D. document of a person to be registered as a director
Share Capital:	The minimum share capital requirement is 5,000 Bulgarian Leva, (around €2500). You will need to obtain a bank deed confirming that at least 70% of the registered capital has been paid prior to incorporation. The shareholders may be individuals or companies and the minimum nominal share value is 10 Bulgarian Leva per share.
Residency:	An entity generally is considered a resident of Bulgaria if it is registered in Bulgaria.
Corporate tax:	10%
VAT:	Maybe liable to pay a VAT rate of 18%
Annual financial report:	Yes
Registration address:	Yes (in Bulgaria)
A Company bank account:	Start account is required before company registration
Free zone registration:	Available (Bourgas Free zone)

2. EXPRESS COMPANY FORMATION from 1.400€ (vat 0%)

THE SERVICE INCLUDES:

Establishment of company by an individual entity (Max 1 founder/director)
Limited liability company (LLC) registration in Bulgaria
- Assistance for company founders in Sofia, Bulgaria
- Remote company registration available (+400€)
Company documents available in digital format after registration
Registration address in Bulgaria for the first year
Opening of a corporate start bank account in Bulgaria

ADDITIONAL SERVICES AVAILABLE UPON REQUEST

Business & tax advisory: Meeting before company formation doing business in Bulgaria + 180€/h
Accounting and bookkeeping service for the company from 600€/year + 59€/hour
Registration address and business support service after the first year +360€/y
Remote company registration with POA + 400€
EORI registration in Bulgaria +250€
VAT registration +250€

3. ADVANCED COMPANY FORMATION from 1.950€ (vat 0%)

THE SERVICE INCLUDES:

Establishment of company by an individual or legal entity, domestic of foreign (+350€ if more than 1 founder/director)
Limited liability company (LLC) registration in Bulgaria
- Assistance for company founders in Sofia, Bulgaria
- Remote company registration available (+400€)
Company documents available in digital format after registration
Registration address in Bulgaria for the first year
Opening of a corporate start bank account in Bulgaria

ADDITIONAL SERVICES AVAILABLE UPON REQUEST

Business & tax advisory: Meeting before company formation doing business in Bulgaria + 180€/h
Establishment of company by a legal entity or more than 1 founder/director +350€/entity
Appointment of a nominee director of your newly established Bulgarian company from +800€ annually
Appointment of a technical UBO before company registration from +250€/mo
Accounting and bookkeeping service for the company from 600€/year + 59€/hour
Registration address and business support service after the first year +360€/y
Remote company registration with POA +400€
EORI registration in Bulgaria +250€
VAT registration +250€

4. HOW TO PROCEED?

Fill and send the order form below or schedule a meeting with Novasigma
Novasigma will contact you and send you an invoice for a prepayment.
Novasigma will send you a questionnaire about proposed business, shareholders and directors
Send all required documents about shareholders and directors
Schedule time and date for a registration and bank account opening in Sofia, Bulgaria OR send a notarized POA with Apostille (in case of remote company registration)
The company will be registered normally within 3-5 business days
Activate a bank account and hire an accountant

5. ORDER A BULGARIA COMPANY FORMATION SERVICE

Step 1 of 6

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In cases KYC or/and Due Diligence process required Novasigma might require a personal meeting with all its new clients before proceeding any assignment