Types of Bulgarian companies

There are several forms of Bulgarian business entity, but mainly used are:

limited liability company (OOD) - main features of an OOD company

*the minimum share capital for an OOD company is ˆ1 (one)

*the minimum number of owners is one - individual or corporate body

*popular format because of limited liability

*statutory financial reporting requirement

stock corporation (AD) - main features of an AD corporation

*the minimum share capital for an AD is ˆ25,000

*the standard format for investor and major public companies

*widely used because of separation between management and ownership

*reuirements of board of directors and auditors

branches - main features of a branch

*branch must meet Bulgarian requirements

*branch required to register with Bulgarian authorities

*minimum of one director

*statutory financial reporting requirments

Bulgaria has never been a state-of-the-art destination for foreign investors. The population is 8 000 thsnds over 111 000 square km. Since 2007 the headline rate of corporation tax is the lowest among the EU countries - 10%. The individual income tax is a flat rate of 10% and there are plenty of business opportunities if you know your way around. We know exactly where to look for you .

Why open a company in Bulgaria

*stable economy even during crisis period

*lowest tax rates among the EU countries

*many Double Taxation Treaties are at disposal

*massive investment in infrastructure projects, financed by the EU

Staff and Recruitment in Bulgaria

Bulgaria has very low unemployment rate and labour costs are among the lowest in the EU. The workforce is well educated however and recruitment is straightforward. THere are no restrictions for adults of lawful age. THere are Labor legislation in force and requirements for statutory reporting.

Regulations

The business environment in Bulgaria is liberal. Regulatory standards are synchronized with the directives adopted in other EU member states. There are no import restrictions or tariff barriers and earnings can be freely repatriated to other EU countries. Bulgaria has double taxation treaties with a significant number of other countries. Nevertheless it is important to note that Bulgarian tax regulations are complex and are well preventing tax evasion and fraud.

Banks facilities access

Bulgaria is with Curruncy board and its curruncy is tied to the EURO with fixed exchange rate of 1.95583 levs for 1 EURO. The Bulgarian bank sector expanded as a result of mergers during recent years. Companies can choose amont all well known European banks as well as private Bulgarian banks. New companies need to open and keep at least one bank account in the national curruncy. There are no limitation in count of the number of bank accounts or the curruncy that the company would work with. Almost all European curruncies are maintained.