Starting a company in Bulgaria involves more than receiving a registration number. Foreign founders also need a workable banking arrangement, a reliable registered address, accounting and a review of the transactions they plan to make.
The best starting point is a short business brief: who will own and manage the company, where the work will take place, who the customers will be and how payments will be collected. This helps identify practical requirements before they become urgent.
Ownership and company structure
Foreign individuals and companies can generally own a Bulgarian company. Ownership is separate from the right to live or work in Bulgaria, and regulated activities may require additional authorisation.
An EOOD is a limited liability company with one owner; an OOD has two or more shareholders. The structure should reflect decision-making, investment and plans for growth. Limited liability does not eliminate every possible personal liability of an owner or manager.
For someone working independently, a company is not automatically the most suitable option. Where the activity and personal status allow it, compare operating through a company with registration as a self-employed professional. Consider expenses, social security, administration and how money will be withdrawn for personal use.
Documents and remote preparation
A typical preparation checklist includes:
- Proposed company name, activity, registered address, capital and manager.
- Identity information for the relevant individuals.
- Incorporation documents, decisions, declarations and any required powers of attorney.
- The manager’s certified consent and signature specimen.
- Evidence of the required capital contribution.
- For a corporate shareholder, documents establishing its existence and authorised representatives.
Foreign documents may need translation, certification or an apostille. The requirements depend on the issuing country and document. Agree the signing instructions before arranging appointments.
Much of the work can be coordinated remotely. Whether the entire process can be completed without travel depends particularly on the banking arrangements, identity checks and required certifications. A qualified electronic signature is useful for supported procedures, but should not be assumed to replace notarisation.
Timing: filing is one stage
Separate preparation, banking and certification from the Commercial Register’s examination of the application. A short registration-processing period is not a reliable estimate for the complete setup.
An incomplete file, additional instructions, foreign corporate documents or a bank’s review can extend the timetable. Ask for the dependencies and the next concrete milestone, rather than an unconditional completion date.
Banking and payment providers
Discuss banking before committing to an incorporation timetable. Distinguish the arrangement needed to pay in capital from the operating account used after registration. An online payment account is not automatically suitable for both.
Providers may request information about the beneficial owners, manager, activity, source of funds, expected transactions and countries involved. Acceptance is their decision; neither company registration nor an address service guarantees an account.
Compare transfer fees, currencies, card acceptance, supported business activities and accounting exports. Tell your accountant about every business account, including accounts abroad, so any Bulgarian National Bank declaration and reporting obligations can be assessed.
A registered address that works in practice
The address is part of the company’s official setup, not just a line on an invoice. Arrange how correspondence will be received, who may accept it and how important documents will reach the manager promptly.
A virtual office can be a practical option when the company does not maintain its own staffed premises. It is not a universal legal requirement, and it does not establish the owner’s tax residence or guarantee VAT or banking approval.
Virtual Office Bulgaria provides a registered-address and mail-handling service in Sofia. Company formation, accounting and legal representation have separate scopes. Review the contract for included services, additional charges and any authorisation required.
Before the first transaction
Agree the following with the responsible adviser:
- Accounting: document storage, invoice details, monthly handover and reporting responsibilities.
- VAT: customers, suppliers, advance payments and the nature and location of supplies.
- Payments: bank transfers, cards, cash or courier collections, and the applicable fiscal-document rules.
- E-commerce: whether store declarations and particular reporting procedures apply.
- People: the manager’s activity and social security position, plus any employee arrangements.
- Operations: licences, contracts and obligations connected with activity outside Bulgaria.
This is an operational checklist, not a 30-day grace period. Some steps may be necessary before activity or payment starts.
VAT and working across borders
Do not wait for turnover to grow before checking VAT. Certain cross-border services may trigger registration obligations earlier. Ask before purchasing services from overseas suppliers, supplying business services to EU customers, acquiring goods from another EU country or launching cross-border consumer sales.
The existence of an EU customer alone is not enough to determine the treatment: identify the transaction, the customer’s status, place of supply and applicable rules. VAT registration, VIES reporting and OSS serve different purposes.
Work performed or managed abroad also needs a separate review. A Bulgarian company does not automatically remove obligations in another country. For social security, the applicable system depends on the facts; an A1 certificate, where relevant, evidences coverage rather than offering a free choice of country.
Budget for setup and ongoing work
Request an itemised proposal covering incorporation assistance, state fees, translations and certification, the address, banking, accounting, payroll and additional registrations.
Keep one-off costs separate from recurring fees. Agree what counts as a document, whether year-end work is included and which services are additional. The company’s tax bill and the owner’s personal tax and social security position are separate from professional fees.
Questions foreign founders ask us
Can I register without travelling to Bulgaria?
Much can be arranged remotely, but banking and certification requirements must be checked before confirming a fully remote process.
Do I need a company or can I work as a freelancer?
Compare the available structures for your activity and personal status, including expenses, liability, social security and administrative costs.
Which documents can I sign electronically?
It depends on the document and the receiving institution. Obtain document-specific instructions; electronic signing does not automatically replace a required notarial certification.
Can a non-resident open the necessary account?
Eligibility and checks differ between providers. Assess both the capital-contribution arrangement and the later operating account; approval cannot be promised in advance.
Can I use a home address?
Check the right to use the premises, the relevant documentation and whether correspondence can be handled reliably. An address should not be selected solely because it is inexpensive.
Does the virtual-office subscription include incorporation?
Use of the address and preparation or filing of incorporation documents are separate services. Confirm both scopes in the written proposal.
Do services for foreign clients require VAT registration?
They may. Review the specific service, client and applicable registration grounds before the first relevant transaction or advance payment.
Are EU and UK customers treated in the same way?
Do not assume so. The UK is outside the EU; the treatment also depends on whether you supply goods or services and who receives them.
Does a manager without a salary owe social security contributions?
The absence of salary does not by itself settle the question. Review the manager’s actual activity, legal basis and applicable social security legislation.
What if I travel constantly or work from several countries?
Explain where you live, work and manage the business. Frequent travel does not by itself resolve tax residence, business-presence or social security questions.
What will I pay beyond registration?
Ask for a separate ongoing budget for accounting, address services, banking, payroll where relevant and any additional compliance work.
Can you coordinate the setup and ongoing accounting?
We can propose coordinated support. The written scope should identify the provider, responsibilities, authorisations and fees for each service.
Plan the setup before you register
Tell Accounting Bulgaria what the business will do, who will own and manage it, where you will work and where your customers are. We can then outline the documents, dependencies and ongoing support appropriate to your circumstances.
This guide provides general information. The appropriate setup depends on the business and the people involved.