Bulgaria Company Registration Services
Advantages to Register in Bulgaria
Bulgaria as a member of EU since 2007 has a strong currency (LEV), economic freedom, positive trends and perfect location (SE Europe).
- EU member since 2007;
- Strong currency (LEV);
- Economic freedom;
- Positive economic trends;
- Perfect location (SE Europe);
- Low costs and taxes for employees;
- Perfect English and Russian speaking staff;
Bulgaria has become a very interesting choice for opening a business due to the geographical positioning, bordering the Black Sea to the east, Romania to the north, Serbia and Macedonia to the West and Greece and Turkey to the south. The country positions itself in south-eastern Europe, with a territory of 110,994 sq. km., being the 14th largest European country.
Simplified registration process
When it comes to opening a business in Bulgaria, one may benefit from many advantages, such as a symbolical minimum required capital, worth 1 Euro, and the simplified registration process. It usually takes a few days for a company to register in Bulgaria, but in some cases, it can take up to two weeks.
However, a key advantage in opening a business in Bulgaria lies in the possibility of using a power of attorney to open the company and it is not mandatory for the founder to be present in Bulgaria when registering the company.
Another important factor is that there are no running costs for the company; therefore, if the company was registered but it does not have any activity, it is not subject to financial obligations. However, the company must submit an annual tax return, a very simple process that can be made using accounting services or directly by the company’s manager.
Accounting records
Companies in Bulgaria use current accounting as costs are not high, but generally companies choose to use services of an accountant once per year, action permitted by the Bulgarian law.
Ranking Bulgaria
Bulgaria has various high rankings, including being the 4th fastest growing economy of the European Union (source: European Commission), fifth place for math specialists (source: world bank), 3th place for the amount of qualified IT specialists per capita (source: American embassy in Sofia) and the 2nd place on the European ranking list for favourable locations for transport companies.
Lowest taxes in Europe
- Corporation tax: 10% (the average corporation tax rate in Europe is 25%)
- Personal income tax: 10% (the average personal income tax rate in Europe is 40%)
- Dividend Withholding Tax: 5% (0% when the European parent/subsidiary directive applies)
Other Advantages to consider
- Employment costs
- Promotion for investments in certain sectors
- Competitive advantages on the Bulgarian market
Contact Us
Should you require additional information, request a quotation or clarify any related matter, please contact one of our Consultants who will be happy to assist with your enquiries.
Disclaimer
COI ´s services are subject to its Terms and Conditions.The information provided by COI is intended as informative material and should not be relied solely upon in decision-making, especially if it concerns international tax planning and financial structuring as these areas are subject to frequent changes, although its efforts to keep all information on its website regularly updated.
COIstrongly recommends that each potential user of its services seek tax and legal advice before deciding on implementing a solution employing international financial structures. COI will not be liable for any damages, costs and expenses resulting from or incurred as a result of any action taken or omitted based upon any such information provided by COI.