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Registration of a company in Bulgaria
- Price:from 2500 EUR
- Term:4-5 weeks
Bulgaria is a European country that attracts foreign businessmen with its loyal tax system, because income tax here is even lower than in Cyprus. Membership in the EU allows the state to follow European standards and develop the national economy.
The Bulgarian government regularly develops programs to support local businesses, issues loans and grants for promising activities. Often, the jurisdiction is popular for buying resort real estate, trading, restaurant business, consulting, construction, repair or tourism activities.
In addition, Bulgarian banks do not separate resident and non-resident companies, providing a single service for all companies.
Opening a business account for a company in the Payoneer or Emerald24 payment systems is a comprehensive service from our company. This service does not require additional payment, as we strive to ensure the most comfortable start of your company and emphasize the importance of our cooperation. You pay only bank fees in accordance with the requirements of the payment system, and we take full responsibility for communication with the payment system and collection of documents.
Please note that this offer is valid only if the company's activities comply with the specified payment systems (high and ultra-high risk are not included in the list of permitted activities).
- 1Bulgaria is not offshore and has never been blacklisted
- 2Territorial location provides access to the EU market, Turkey and seaports
- 3One of the most loyal corporate income taxes in Europe
- 4The country has the lowest level of corporate tax in the EU (10%)
- 5A Bulgarian company can obtain a tax resident certificate
- 6VAT does not apply to international transportation and export of goods
- 7The possibility of opening an account in the country of registration of the company
- 8Non-resident has the right to work in the established company
- 9The opportunity to obtain a residence permit with a further extension
Bulgaria's tax system is one of the most attractive in the EU due to its low rates and transparent rules. For legal entities, the corporate income tax is 10% and is paid on all profits, regardless of the country of their receipt. Individuals pay income tax at a rate of 10%, but the territorial principle applies to them: residents are taxed on worldwide income, while non-residents are taxed only on income earned in Bulgaria.
The dividend tax for individuals and legal entities is only 5%, which encourages the distribution of profits among shareholders.
Bulgaria does not charge stamp duty, but applies a tax on the purchase of cars (depending on the age of the car).
- Capital – the minimum authorized capital is only 10 GBN, paid before incorporation.
- Director - only an individual can act, a minimum of one director is required. Residence is not taken into account.
- Shareholder - the position may be combined with a director if the shareholder is an individual. A company can also be a shareholder.
- Secretary - optional, the legislator does not require.
- Register of beneficiaries - public with free access.
- Available information - about the name of the company, its legal address, director, shareholder, secretary, as well as the size of the authorized capital.
- Substance requirements – none.
- Legal address - mandatory on the territory of Bulgaria.
Bulgarian companies are subject to the requirements for the preparation and submission of annual financial statements, regardless of the activities carried out.
In addition, for companies that have a large annual turnover of 2 500 000 GBN or dispose of real estate worth more than 1 500 000 GBN, or have a corporate staff of more than 50 people, they are required to undergo an audit.
Also, if a company exceeds an annual turnover of 100 000 GBN, it must be registered as a VAT payer, receive an identification number and report to the tax office on trade operations every month. The deadline for submitting VAT returns is monthly until the 14th day, the deadline for paying VAT is monthly until the 25th day.
- 3 desired company names;
- description of directions of work of the future company;
- national and foreign passports of the shareholder, director of the company;
- confirmation of the address of registration of the shareholder/director (for example, a utility bill).