Company Formation in Bulgaria

How long does it take to form a company in Bulgaria?

• 4-8 working days;
• Around 2 weeks if everything is done remotely.

Can I form a company in Bulgaria remotely?

The whole incorporation process can be conducted remotely. No travel is necessary. Notarization of documents is necessary.

• A Power of Attorney (POA) from (all) partners/shareholders is needed;
• The POA is sent to you by us based on the services you want;
• You have to certify the POA by a notary and, in some cases, legalize it by apostille (some countries need full legalization);
• Once you have the POA on you, we double-check, and you send us the original form (physical document!) via courier to our address;
• Bulgaria is part of the Hague Convention of the Apostille.

Necessary information to begin with company formation in Bulgaria

• 3 options for your desired name for the company and a company contact email address;
• Names, addresses, and emails of all shareholders and board members;
• Short description of your company's activity.

Without a VAT number in Bulgaria

• Your company will not be eligible to receive VAT refunds, which means everything bought is 20% more expensive (important: B2B payments between two VAT-exempt companies are not more expensive);
• Your company will not have to file monthly tax returns (prerequisite: no one receives a salary), which means low costs.

With a VAT number in Bulgaria

• The company will be eligible to receive VAT refunds, which means you can make use of the reverse-charge mechanism;
• Monthly tax returns have to be filed, even if no transactions occur;
• Every legal person can register for VAT in Bulgaria;
• Registering for VAT is compulsory if a company's turnover reaches 50,000 BGN (25,600 EUR as of December 2020);
• Registration for VAT can be filed online without specific prerequisites.

Before we help you to apply for a VAT number, you should carefully think about the advantages and obligations that go along with it. Registering as a VAT payer might be either voluntary or obligatory, depending on the turnover.

Required documents to provide to register a company in Bulgaria

• Passport copies (scans) of shareholder/s and director/s, also beneficiary owner if applicable;
• A Power of Attorney (in case of a remote company registration);
• Certified company documents (in case at least one of the shareholders is going to be a foreign company).