How to register your business in Bulgaria

Posted on

In Bulgaria, registering a business involves several steps, with the Certificate of Incorporation being a crucial document in the process. Here’s a comprehensive guide on how to register your business in Bulgaria:

To start, choose a suitable legal form for your business. In Bulgaria, common legal forms include sole proprietorship, limited liability company (LLC), joint-stock company, and partnerships. The most popular choice for small and medium-sized enterprises is the LLC due to its simplicity and limited liability protection.

Next, choose a unique name for your business. The name should not be identical or similar to any existing registered business in Bulgaria. You can check the availability of your desired name through the Bulgarian Commercial Register.

Once you have a chosen legal form and name for your business, you need to prepare the necessary documentation for registration. For an LLC, this typically includes the articles of association, notarized signatures of the founders, and proof of payment of the required capital.

The next step is to open a bank account and deposit the required minimum share capital. In Bulgaria, the minimum share capital for an LLC is 1 BGN (Bulgarian Lev), but it is advisable to deposit a higher amount to ensure the credibility of your company.

After depositing the share capital, you need to obtain a Certificate of Good Standing for all foreign shareholders. This document confirms that the shareholders are in good standing with the authorities in their home country and is often required for foreign investment in Bulgarian companies.

Once you have gathered all the necessary documents, you can proceed to submit your application for registration to the Bulgarian Commercial Register. This can be done either online or in person at the Register’s office. Along with the application, you will need to pay the required registration fee.

After submitting your application, the Commercial Register will review the documents and, if everything is in order, issue the Certificate of Incorporation. This document confirms that your business is now officially registered and can legally operate in Bulgaria.

Upon receiving the Certificate of Incorporation, you can proceed to obtain any additional permits or licenses required for your specific business activities. Depending on the nature of your business, you may need to obtain permits from various government agencies or industry-specific regulatory bodies.

Finally, don’t forget to register your business for taxation purposes. You will need to obtain a unique identification number (UIC) from the National Revenue Agency (NRA) and register for VAT if your annual turnover exceeds a certain threshold.

Registering a business in Bulgaria involves several steps, including choosing a legal form, selecting a name, preparing documentation, depositing share capital, obtaining necessary permits, and registering for taxation. By following these steps carefully and ensuring compliance with all legal requirements, you can successfully register your business and start operations in Bulgaria.

Was this helpful?

Thanks for your feedback!