Yes, You Can Run a Bulgarian Company Remotely
Owning and operating a Bulgarian company without living in Bulgaria is entirely legal. You don’t need:
- Bulgarian citizenship
- Bulgarian residence
- Physical office or employees
But you do need to meet ongoing legal and tax obligations — even if your company is dormant, side-hustle-sized, or fully digital.
What “Keeping a Company Alive” Actually Means
In Bulgaria, having an active and compliant company — even one with no income — means you must:
- Maintain a registered legal address
- File annual financial reports (to NSI and NRA)
- File a corporate tax return by March 31 each year
- Keep accounting records for 5+ years
- If VAT-registered, submit monthly declarations
- Renew any Power of Attorney or e-signature if using remote control
Failure to do any of the above can result in fines, forced closure, and a possible ban on future business registrations.
Quick Setup for Remote Company Survival
| Element | Solution for Abroad Owners |
|---|---|
| Legal address | Use a virtual office (€100–€200/year) |
| Accounting & tax filing | Hire local accountant (€600–€800/year) |
| Bank account | Open in person, or via POA (UBB, Postbank) |
| Signing documents remotely | Use POA or get a Bulgarian e-signature (B-Trust) |
| Annual compliance | Schedule a calendar with your accountant |
Mandatory Yearly Tasks (Even if Dormant)
Corporate Tax Return
Filed annually with the National Revenue Agency (NRA) by March 31. Even if you made €0, this still must be filed.
Annual Financial Report (NSI)
Sent to the National Statistical Institute, which foreigners often overlook. Deadline: March 31.
Accountant’s Year-End Filing
Your accountant will prepare all documentation, but you must approve and sign. This can be done digitally with a Bulgarian e-signature or via POA.
Annual VAT Review (if registered)
Even if inactive, VAT-registered companies must file monthly declarations. If not doing business, consider deregistering for VAT to reduce complexity.
Minimalist “Dormant Company” Setup
Want to keep your Bulgarian company, but don’t actively use it? Here’s what you need:
| Item | Annual Cost (EUR) |
|---|---|
| Virtual office address | €100–€200 |
| Dormant accounting package | €300–€500 |
| Annual tax + NSI filings | Included above |
| POA renewal or e-signature | €50–€150 |
| Total per year | €450–€850 |
Optional:
- Bank account (keep active): €3–€10/month
- Legal support for changes: €100–€300 (only if needed)
Keeping Your Company Active (Not Dormant)
If your company earns income, sells products/services, or has any operations:
You must:
- File monthly VAT returns (if registered)
- Pay 10% corporate tax on profits
- File dividend declarations if you pay yourself
- Maintain payroll reports if you hire anyone (even yourself)
- Renew contracts and submit client invoices per law
An accountant will usually charge:
- €50–€100/month for an active VAT company
- €600–€1,200/year total, depending on complexity
What About Signatures and Documents?
You have three options:
Power of Attorney (POA)
- Give someone in Bulgaria the authority to sign and represent you
- POA must be notarized and (if from abroad) apostilled and translated
Bulgarian E-Signature (e.g., B-Trust, InfoNotary)
- Acts like an official digital ID
- Can be used to submit filings, sign reports, and manage NRA and NSI
- Issued by licensed Bulgarian providers (annual renewal)
Periodic in-person visits
- Not mandatory, but valuable for banking, account reviews, and legal work
Common Mistakes by Remote Owners
- Believing that “no activity = no obligations” (still must file)
- Letting the legal address expire (company becomes non-compliant)
- Ignoring VAT reporting while inactive (penalties accrue monthly)
- Forgetting POA renewals (authorizations often expire after 1–2 years)
- Letting the bank account go dormant (risk of closure and frozen funds)
Pro Tips to Keep It Effortless
- Use a calendar reminder system (January, March, and December are key months)
- Choose an accountant with remote clients and English support
- Avoid cash transactions or offline invoices — digital is safer for tax control
- Keep the bank account active with a slight annual movement if needed
- Maintain at least one contact in Bulgaria you can trust (lawyer, agent, etc.)
When Should You Consider Closing the Company?
Consider dissolving your company if:
- You haven’t used it in 2+ years
- You don’t plan to use it again
- You don’t want to keep paying for accounting, bank, and address
- You’re moving to another jurisdiction permanently
Closing involves:
- Hiring a lawyer
- Filing closure docs with Registry Agency
- Filing the liquidation tax report
- Paying €250–€600 total, depending on services
Don’t just “abandon” the company — the authorities will eventually dissolve it and fine you.
Checklist to Keep a Bulgarian Company Alive from Abroad
- Maintain a valid legal address
- Keep an accountant on an annual or monthly retainer
- File all reports (NRA, NSI) on time
- Open a business bank account early (best done in person)
- Use a Power of Attorney or e-signature to stay flexible
- Monitor deadlines and renew authorizations
- Stay VAT-registered only if necessary
You Will Also Like To Know About:
- How to Register a Company in Bulgaria
- Types of Companies in Bulgaria – Explained for Foreigners
- The Real Cost of Running a Company in Bulgaria
- Staying in Bulgaria – Visas & Residence for Founders and Freelancers
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. Last updated: September 2025.
