Please enable JS

Company Registration in Bulgaria: All You Need to Know


Company Registration in Bulgaria: All You Need to Know

Company registration in Bulgaria: overview

With its skilled labour force and favourable corporate taxes Bulgaria welcomes all foreign investors.

The requirements for company incorporation in the country are straightforward and the registration procedure is simple.

It only takes 3 working days if all necessary documents have been prepared in advance.

What is more, foreign investors can delegate the process to their trusted local law firm. They can open a company in Bulgaria through power of attorney.

All foreing investors can start business in Bulgaria. EU country membership or Bulgarian residence is not required by law.

Companies registered in the country are considered Bulgarian legal entities.

Company formation in Bulgaria involves two basic stages:

  • Preparation of the necessary documents
  • Registration of the company in the Registry Agency

After the newly incorporated Bulgarian company has been registered, there are certain requirements related to taxation.

This also means that before starting its business activities, the company should hire accounting services in Bulgaria.

The costs of the incorporation procedure vary depending on:

  • the type of company you choose to register in Bulgaria, and
  • the minimum capital legally required.

Do you need legal advice and assistance? Contact our experienced lawyers.

What type of company can investors register in Bulgaria?

There are the five major forms of companies registered in Bulgaria:

  • Limited liability company, LLC (OOD) or SMLLC (EOOD)
  • Joint stock company - JSC (AD)
  • General and limited partnerships (SD/KD)
  • Sole proprietors (ET)

LLC/ SMLLC (OOD/EOOD)

The most popular company type registered in Bulgaria is a limited liability company: LLC (OOD) or SMLLC (EOOD).

Both involve limited liability. The main difference between the two is in the number of shareholders:

  • the LLC (OOD) is registered with a minimum of two shareholders,
  • the single-member LLC (EOOD) only needs one shareholder.

The minimum required capital is 2 BGN (about 1 EUR), which is deposited in a local bank account.

For the OOD this capital is divided into shares (minimum 1 BGN each).

The OOD is incorporated on the basis of a decision by the General meeting of shareholders.

The newly registered company also needs to maintain a local address. Note that instead of setting up a traditional office, the LLC may use a virtual office service.

JSC (AD)

Large-scale businesses can open a Joint stock company in Bulgaria.

The minimum capital in this case is 50,000 BGN (about 25,000 EUR) for closed JSC. Open JSCs trading shares at the stock market need a minimum capital of 50,000 EUR.

The name of the company should be unique and end in AD.

General/ Limited partnership (SD/KD)

The main difference between the two is related to their liability.

With GP unlimited liability implies that personal assets may be affected in the case of liquidation.

On the other hand, with limited liability, the owner has a separate liability from the business entity. Therefore, in case of liquidation, the LP partners’ liability is limited to their contribution to the capital.

Sole proprietors (ET)

The procedure for registering ET is the simplest and cheapest.

Although ET is similar to EOOD (SMLLC), the latter is typically preferred. The reason is that with ET the owner keeps the full profit but also has unlimited liability.

Do you need legal advice and assistance? Contact our experienced lawyers.

Company registration in Bulgaria: basic steps

As already stated, the procedure for company incorporation in Bulgarian is quite straightforward:

  1. Choose a name for your Bulgarian company
  2. Appoint a representative agent for your Bulgarian company
  3. Deposit the minimum capital (2 BGN for OOD) in the bank account of your company
  4. Prepare all documents necessary for company incorporation in Bulgaria
  5. File all documents with the Commercial Register

The business name for your company can be verified and reserved online with the Commercial Register.

It has to be unique and end in OOD for LLCs (the most popular type registered). Note that all business names in the register are spelled in Bulgarian (cyrillic).

Part of the documents must be executed in front of a notary in Bulgaria. The Commercial Register requires a notarised specimen of the manager’s signature.

The minimum share capital is deposited in a local bank. A corporate bank account is opened to this end.

The registration fee can also be paid at this stage.

The documents needed for the registration of an OOD (LLC) in Bulgaria are:

  1. Registration form at the Commercial Register.
  2. Articles of incorporation, General meeting documents
  3. Notarised signature specimen and written consent by company representative
  4. Bank statement for deposited minimum capital
  5. Company name certificate
  6. Copies of LLC owners’ IDs

Registering a company in Bulgaria can be quick and hassle-free with the support of our lawyers.

If you need expert advice and help with your company registration, contact us.


“Danailova, Todorov and Partners” Law Firm provides top-quality legal services on all aspects of trade law, contractual law, employment law, administrative law and tax law. We are a partner you can rely on.

SEND US YOUR INQUIRY