Registration of companies in Bulgaria
Incorporation of a company means registration of a legal entity in the Commercial Register of Bulgaria. Every foreigner can form a Bulgarian company, regardless of the fact having or not a Bulgarian visa or Bulgarian residency permit. The most common type of a commercial company is Ltd. Minimum founding capital required to register is 2 BGN (Bulgarian Leva). One or more person can be the Directors/Managers of the company and it has to have the legal address of Bulgaria. The process for registration normally takes 3 working days after the completion and receipt of all the necessary documents. Income tax rate in Bulgaria is 10% flat (paid for the profit only) for every commercial company, regardless of the amount of the profit which is lowest in all EU countries. Opening a company in Bulgaria not only allows you to engage in any commercial activity but also to purchase of a vehicle and real estate.
What are the advantages of opening a company in Bulgaria:
- Engaging in commercial activities and working as a manager without obtaining a work permit;
- Purchase of land (in Bulgaria it is forbidden to purchase land for foreign citizens);
- Car registration for the company (foreign cars are registered only in Sofia with obligatory annual re-registration);
- Obtaining credits, mortgage loans for a company with interest rates significantly lower than for foreign citizens;
- Purchase of transport, equipment, real estate in leasing;
- Obtaining a business visa to Bulgaria.