Who Can Open a Company in Bulgaria?
Any foreign individual or company — including non-EU citizens and non-residents — can register a company in Bulgaria without needing:
- Bulgarian citizenship
- Bulgarian residency
- A Bulgarian partner
You can register a company remotely via Power of Attorney and a local representative.
Step-by-Step: How to Register an EOOD or OOD in Bulgaria
Step 1: Choose Company Type
See the types of companies registrable in Bulgaria.
- Most foreigners choose EOOD (single-owner Ltd) or OOD (multi-owner Ltd)
- Decide if you’ll operate solo or with partners/shareholders
Step 2: Prepare Required Documents
| Document | Notes |
|---|---|
| Founding act / Articles of Association | Can use template; needs to be signed and notarized |
| Specimen signature of the manager | Notarized in Bulgaria or abroad with an apostille |
| Declaration of non-conviction (Article 141) | For manager(s); required by law |
| Decision to form a company | If multiple owners are setting up through a proxy |
| Power of Attorney (if using a representative) | Must be legalized and translated if from abroad |
| Proof of legal address | Rental contract or virtual office contract |
| Bank capital deposit certificate | For initial capital deposit (min. €1) |
All foreign-language documents must be officially translated into Bulgarian and certified by a sworn translator.
Step 3: Open a Temporary Bank Account
- Required to deposit initial share capital (even if it’s just €1)
- Most popular banks: UBB, DSK, Raiffeisen, Fibank, Postbank
- Some banks may require in-person presence or enhanced due diligence for foreigners
After registration, you’ll close the temporary account and open a complete business account.
Step 4: Submit to the Commercial Register
- Submission is made at the Bulgarian Registry Agency (either online with e-signature or in person)
- Fee:
- EUR 55 (in person)
- EUR 25-30 (online)
- Processing time: 1–3 business days
Your company is officially registered once it appears in the Търговски регистър (Commercial Register).
Optional but Useful Add-ons
| Service | Recommended For | Cost Range (EUR) |
|---|---|---|
| Virtual office (legal address) | All non-residents | Vary, €100–€200/year |
| Legal representation (POA) | Remote founders | €200–€500 |
| Company stamp (optional) | Local usage, contracts | €30–€50 |
| E-signature (Bulgarian e-ID) | Online filings & banking | €50–€80/year |
What About VAT Registration?
- Optional if turnover is under €50,000, mandatory above €50,000
- Mandatory once turnover exceeds the threshold or you engage in cross-border EU B2B trade
- Timeframe: 7–14 days after filing
- Requires additional documentation (e.g., business plan, lease, contracts)
What Happens After Registration?
| Task | Notes |
|---|---|
| Open full business bank account | You can now use the capital deposited |
| Register for taxes | Via the National Revenue Agency (NRA) |
| Hire accountant | Monthly or annual package |
| Issue invoices, sign contracts | You are now a whole legal entity |
| File annual reports | Mandatory by March 31 each year |
Remote Setup: Yes, It’s Possible
You can register a company in Bulgaria entirely remotely, using:
- A certified Power of Attorney (with apostille if from outside the EU)
- A trusted lawyer or registration agent
- Sworn translations of foreign documents
Summary Checklist
| Requirement | You Need It? | Notes |
|---|---|---|
| Legal address in Bulgaria | Yes | Can use a virtual office |
| Physical presence in Bulgaria | No | Not needed if POA is used |
| Bulgarian partner | No | 100% foreign-owned allowed |
| Bank account | Yes | May require an in-person visit at some banks |
| Accountant | Yes | Monthly fees vary (€80–€100) for parked company |
| E-signature | Optional | Useful for managing online filings |
Insider Tips for Foreigners
- Banking is the most challenging part — some banks are more foreigner-friendly than others (UBB and DSK are often easier)
- Translations & Apostilles take time — plan 1–2 weeks if abroad
- You don’t need a nominee — but for privacy or convenience, some foreigners use one
- Bulgaria does not grant residency automatically through company formation
- Use a bilingual agent — this avoids critical errors in documentation or communication
Final Words: It’s Easy — If You’re Informed
Setting up a Bulgarian company as a foreigner is one of the simplest and cheapest in the EU, especially if you choose an EOOD. But you’ll save time, stress, and cost if you:
- Work with an experienced local accountant or agent
- Use POA where needed
- Plan for bank account opening early
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Disclaimer: The information provided in this article is for general informational purposes only and does not constitute legal, tax, or financial advice. While we strive to ensure accuracy and relevance, laws and administrative practices are subject to change. Always consult a qualified legal or tax advisor before making business or residency decisions in Bulgaria.
