Company Establishment in Bulgaria

Company Establishment in Bulgaria

Preparations and work on the company establishment in Bulgaria started in 2007. The Bulgarian state, the noble member of the European Union, is providing facilities for those seeking to establish a new business and a new company in Bulgaria. Bulgarian state supports the entrepreneurs who want to establish a company in Bulgaria with very good incentives.

Company establishment in Bulgaria is a rising trend in all over the world in recent years. In particular, Turkish investors are attempting to establish companies in Bulgaria to develop trade relations between Bulgaria and Turkey. On the other hand, Bulgaria opens trade doors to entrepreneurs from almost every corner of the world. You can get detailed information about establishing a company in Bulgaria by meeting with the experts and a professional consulting firm in order to become a company owner.

All the research you need to do to become a company owner in Bulgaria will be of extra benefit for you and your company that you plan to establish in Bulgaria before you make your business investment in line with the directives to be made by our qualified customer consultant on company establishment in Bulgaria. The preliminary surveys on company establishment in Bulgaria are made by our specialists and you can receive consultancy from our experts.

However, those who plan to establish a company in Bulgaria should determine the purpose, subject and corporate charter of their company to be established at first.

In the Bulgarian trade law, these conditions are one of the most important indicators on the company establishment in Bulgaria and the applications which do not include and clearly determine the purpose, subject and corporate chapter of the company in the company establishment subject, are not accepted by the Bulgarian authorities.

Another issue which is closely related to the citizens of the Republic of Turkey that will be in the process of establishing a company in Bulgaria is the advantage of establishing a single joint stock company which is not a valid practice in Turkey but is applicable in Bulgaria.

The private persons in the company establishment in Bulgaria are obliged to employ 10 persons in an insured manner. The legal persons which establish a company in Bulgarian, are not obliged to employ 10 insured persons.

Those who plan to establish a company in Bulgaria do not have the obligation to stay in Bulgaria. The persons involved in the Bulgarian company set-up procedures can carry out the business of establishment of the company by giving a power of attorney. In addition, in the company establishment procedures, there is no obligation to have a company partner who is a Bulgarian citizen.
 

The capital required for the establishment of a company in Bulgaria

For the persons who will establish a company in Bulgaria, founding capital of an establishment of a joint-stock company is 50 thousand Leva (about 25 thousand Euros). If you plan to establish limited company, the founding capital should be 5000 Leva (about 2500 Euro).

How many days will the company be established in Bulgaria?

The establishment of the company and the opening of the representative agency in Bulgaria does not result in the completion of the judicial court records.

In Bulgaria, the establishment of the company and the opening of the representative office will have statistical, tax and insurance registration procedures corresponding to a maximum period of 10 to 15 days following court, notary and judicial registration.

How much do we spend for the establishment of the company in Bulgaria?

The cost of establishing a company in Bulgaria depends on the nature of the company to be established. The diversity of the company will determine the cost of the Bulgarian company establishment.

Things to note during the company establishment process in Bulgaria  

1 – All operations to be carried out during the Bulgarian company establishment procedures must be in front of the notary public.

2 – After the establishment of the company in Bulgaria, the company partners will receive a residence permit, subject to the initiative of the Bulgarian police department and the initiative of the foreign branch, for 3,6,12 months.