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Whatsapp UK : 0044 7985350960
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Official languages: Bulgarian
Currency: Bulgarian Lev
Starting a business in Bulgaria develops around several different business forms such as: joint-stock company, general partnership, limited partnership, partnership limited by shares but the most popular is the Private Limited Company. The basic requirements for the company registration in Bulgaria of a limited liability company are:
The officers of the company can be resident elsewhere and foreigners as well as individuals or corporate bodies. According to the law, a local registered address is required which will be provided with our incorporation package that includes a domiciliation service in a central business area and virtual office facilities upon request.
The limited liability company is the type of business organization most widely used among investors because of the minimum capital requirements and the simplicity of its corporate governance structure.
Bulgaria is a colourful developing country situated in a strategic geographical location. A member of the European Union since 2007, enjoying a stable banking system and offering tempting investment incentives, the country is definitely worth the consideration for your financial intentions.
Bulgaria is not yet a member of the Eurozone but enjoys a very stable currency, the “Lev”, which is supported by the currency board, pegging it to the euro at level of 1.96. It has the second-lowest government debt in the EU (17.0% of GDP) and one of the lowest budget deficits. The country stands 57th in the ranking of 185 other economies in “ease of doing business” according to a measurement of the World Bank.
One of the main advantages of Bulgaria company registration is its tax regime: corporate tax rate is only 10%, the lowest in the EU and personal income tax is 10%, flat rate. Industries in high-unemployment areas are granted a special 0% tax rate.
Dividends and liquidation proceeds payable to non-residents are subject to 5% withholding tax (lower rates may apply under a tax treaty) and are exempt from withholding tax under the European Parent-Subsidiary Directive when payable to a legal entity tax resident in the EU. Bulgaria has a standard VAT rate of 20%, with a reduced rate of 9% for hotels and accommodation services. Exports and intracommunity supplies are zero rated.
Bulgaria has the lowest labour costs in the EU with a minimum wage around 200 euro and the average salary around 500 euro. However, the work force is well educated, highly skilled and multilingual.
Office rental prices are affordable and the electricity cost for industrial users is 70% of the European average rates.
Starting a business in Bulgaria also benefits from a strategic position:
Contact us to learn more about how GR Morgan Formations can assist you with your company registration in Bulgaria and all the business services you need.