How to create a company in Bulgaria
The process of establishing a limited liability company is fairly easy for locals who are familiar with the procedures. The application can be done via Internet however the web platform is only available in Bulgarian language the person applying would need to have a digital signature certificate. In addition, the applicant needs the proper set of documents signed, a bank account in a Bulgarian bank with the registered capital deposited and finally – to pay the government fee.
We, at Olsen and Partners, set up companies on behalf of our clients; we have an in-house attorney who takes care of all the documentation and the submission.
How does it work?
- Once you decide to create a company in Bulgaria, we need a digital (scanned) color copy of the passports of the intended owners, as well as a digital color copy of the manager’s passport, if different than the owners; the name of the company you wish to use (we will verify, if it is available); the amount of the registered capital; the activities you wish to have listed in the articles of incorporation and the registered address. If you don’t currently have an office in Bulgaria or you don’t plan on leasing one in the near future we can help you with our virtual office service. Please note that this is not a service we offer to the general public but only for clients who have a long term monthly subscription accounting service contract with us. We will provide you with a registered office for a nominal monthly fee once you become our client. If you would like to know more about our registered office service please contact us.
- Once you email us the above documentation, we will prepare the application documents in a timely manner.
- The owners and the manager need to sign all the documents. Two of the documents must be signed by the manager in front of a notary. You have three options: a) To sign in front of the notary in Bulgaria. In this case the manager of the company will also open the bank account. We can arrange everything for you to be done in one day. b) To sign in front of a Bulgarian consulate in your home county. This is good option if you live in a city where Bulgaria has an embassy / consulate or nearby. We can arrange for you an appointment at the Consulate. Please check here if there is an Embassy or Consulate in your city. c) To sign in front if a notary in your home country and to have an Apostille on the documents. Please check here what Аpostille is. Then we need to legalize the documents in Bulgaria which takes additionally up to 10 days and costs about EUR 70.
- The owner must open a bank account in a Bulgarian bank and to deposit the registered capital (minimum EUR 1). If you are not present in Bulgaria we can do this with a Power of Attorney.
Once you arrange the set of all the documents to be signed as we described above all you need is to send them to us via email. We will take care of the rest for you. You will have your company ready within 5-7 business days. If you need a Certificate of Good standing please let us know.
We would then need a Power of Attorney to represent a company in front of the tax authorities. It should be signed by the manager before a notary, please see p. 3 above, the same options are available. This POA cannot be done before the company is registered in the Trade register. We cannot file for EU VAT number on your behalf without this POA. The same for the company bank account: if you need one in Bulgaria you should come here or send us notarized POA after the company is registered. It cannot be done prior to registering the company. Here you can find more information about Bulgarian banks and how to open bank account in Bulgaria.