Do you want to register a company in Europe? Then, registering a company in Bulgaria will be a good decision. This is a state located in southeastern Europe. Bulgaria is one of the founders of the Organization of the Black Sea Economic Community and the OSCE. It is also a member of such international organizations: UN, EU, NATO.
Bulgaria is characterized as a state with a favorable political, economic and investment climate. The government of Bulgaria assists in the development of non-resident companies.
Advantages of the state
If you are planning to set up a company in Bulgaria, then we recommend you to take a closer look at the number of its business benefits, such as:
- Stable political and economic system;
- Entry into the market of the EU countries;
- A fairly simple and fast procedure for registering a Bulgarian company;
- Low tax rates;
- Obtaining a residence permit;
- One of the lowest corporate taxes in Europe.
Registering a Limited Liability Company in Bulgaria is a good solution for duty-free trade within the EU countries.
To register a company in Bulgaria you will need to consider the following information:
- The name of the company must contain "Druzhestvo s Ogranichena Otgovornost" or the abbreviation "OOD". Provided that all capital belongs to one person, the company will have the form of "EOOD";
- The minimum share capital is 2 BGN, the share of each of the founders must be at least 1 BGN;
- The minimum number of directors is 1 (he can be only an individual of any residency);
- The company must have an address and place of business in Bulgaria (these data are specified in the commercial register). The address does not have to be an office. Let's just say, renting or buying an office in the form of an office is not mandatory, the address may be, for example, an apartment.
- Bulgaria has one of the lowest corporate tax rates in the EU – 10%. In addition, through the simplicity of the tax system and law-cost labor, it is possible to significantly save money (savings on administrative and tax costs can reach 20%);
- Dividend tax is 5%, income tax is 10%.
- A company registered in Bulgaria is not automatically assigned a VAT number. The compulsory procedure for setting up a company in Bulgaria will be needed when exceeding the turnover threshold of 50 000 BGN (approximately 25 000 EUR) over the past 12 months. In this case, the company must apply for registration in accordance with the law on VAT;
- All Bulgarian companies are required to accounting. Provided that the company's turnover exceeds 25,000 EUR/year, it is necessary to file a VAT return every month no later than the 14th day of the month following the reporting one;
- Companies must provide annual financial statements to the tax service. The deadline is March 31. A report is also submitted to the statistics service. The deadline is June 30th. If the report is not submitted on time, the company will pay fines in the amount of 500 BGN (250 EUR) and higher.
How to register a Bulgarian company?
In order to register a company in Bulgaria remotely, you will need the help of competent specialists. We propose you a legal support at all stages of starting a business in Europe, Asia, USA, Australia, Africa and any island jurisdictions.
You can learn more details by contacting us, using the contacts listed on the website.