Company Formation in Bulgaria
Company Formation types in Bulgaria
• Limited Liability Company (OOD) &
Single Member Limited Liability Company (EOOD)
In both cases the minimum capital rises up to merely 2 lev (i.e. 1 €)
• Societe Anonyme – SA (AD)
Single Member Societe Anonyme (EAD)
In both cases the minimum capital share rises up to 50.000, 002 lev (i.e. 25.000, 00€)
• Investment Corporations, such as:
Banks, having a necessary capital of 10 mil. lev (i.e. 5.mil. €)
Insurance Companies, having a capital of 2 – 6 mil. lev (i.e. 1 – 3 mil. €)
The most common type of all for company formation in Bulgaria is the one regarding the formation of single member Limited Liability Company.
We are future-oriented by setting strategic long-term goals; planning ahead is not just a necessity but an inherent characteristic of our corporate identity.
We strive for fairness by treating everyone with respect, not just courtesy.
Our mind-set is global thus we enjoy working seamlessly across borders.
We focus on delivering world-class legal services and advice, thus reaching for the highest standard possible means that excellence is the only threshold.
Advantages of the Bulgarian Banking System in general
The Benefits of Company Formation in Bulgaria
• The lowest costs possible in all of the EU
• Small operational cost
• Less bureaucracy during formation and management
• There is no numerus clausus in any profession (all professions are “open”) (thus, for instance, there are no preconditions or collateral costs regarding licensing of a transport company, and as a result lots of those have moved from Greece to their neighboring country)
• Multiplicity in scopes
• The management seat does not have to coincide with the statutory one
• Small cost in terms of power factors e.g. electricity for industrial purposes ranging in about 70% of the average EU cost
• Social insurance in Bulgaria (if you wish to and like any national such social insurance organization)
• All invoices issued in Bulgaria by Bulgarian entities are indoubtedely recognized and accepted by the rest of the EU countries
• Instant registration with the Chamber of Commerce Registry
• 0% tax in certain areas of the country where there are extreme unemployment numbers
• Steady banking system and branches of Greek Banks in all major Bulgarian cities, and on the other hand, branch of PRO CREDIT BANK, one of the lead banking institutions in Greece, and in particular Thessaloniki
• Simple tax system
• Low insurance obligations (110 lev per person, nearly 57, 00€)
• Low employment cost; the lowest salary in Bulgaria has been set since 01.01.2015 in 360, 00lev , I.e. almost 185, 00€
• As an EU country it enjoys the free movement of people, goods and capital while Bulgaria forms part of all sorts of development programs, and at the same they reserve the comparative advantage –at least this is what we think of this – of having its own currency