Bulgaria Company Incorporation
Setup a Company in Bulgaria

Bulgaria is a European country located in the Balkans, known for its culture, history and business opportunities. Company formation in Bulgaria is a popular option for businesses looking to incorporate in a jurisdiction with a favorable tax and legal environment, as well as its membership in the European Union.

The most common type of company formed in Bulgaria is the Limited Liability Company (LLC). An LLC in Bulgaria requires a minimum of one shareholder and one director and has a minimum share capital of BGN 2 (approximately 1 EUR). The incorporation process typically takes around 10-15 days. To incorporate an LLC in Bulgaria, the following steps must be taken:

1. Choose a company name that is not already in use and is not similar to any existing company names.
2. File articles of association with the Commercial Register.
3. Appoint at least one director and one shareholder for the company.
4. Obtain a registered office address in Bulgaria.
5. Obtain a VAT number from the National Revenue Agency.
6. File annual financial statements and pay annual fees to the Commercial Register.

In terms of taxes, Bulgaria has a flat corporate income tax rate of 10%, which is one of the lowest in the EU. Additionally, there are various incentives available for businesses operating in certain sectors such as research and development, renewable energy, and innovation.

It's important to note that Bulgaria has strict regulations in place to prevent money laundering and other illegal activities. As a result, all companies formed in Bulgaria are required to maintain accurate records and provide information to the relevant authorities when requested. Additionally, Bulgaria has implemented the Common Reporting Standard (CRS) and the Foreign Account Tax Compliance Act (FATCA) to ensure compliance with international tax regulations.

In summary, Bulgaria offers a favorable tax and legal environment for company formation, being a member of the European Union and having a low corporate income tax rate. The most common type of company formed in Bulgaria is the LLC which requires a minimum of one shareholder and one director and has a minimum share capital of BGN 2. The incorporation process typically takes around 10-15 days. Additionally, there are various incentives available for businesses operating in certain sectors such as research and development, renewable energy, and innovation. Bulgaria has strict regulations in place to prevent illegal activities and companies are required to maintain accurate records and provide information to relevant authorities as and when required. Additionally, Bulgaria has implemented the Common Reporting Standard (CRS) and the Foreign Account Tax Compliance Act (FATCA) to ensure compliance with international tax regulations.