Open a Business in Bulgaria as a Foreigner

Opening a business in Bulgaria as a foreigner might be a suitable option if you want to expand into this area of Europe. But until you get your business up and running, we invite you to read this article and get an idea of business startup costs, pros and cons, business challenges, and much more. The lines below do not detail the incorporation procedures (you can read them here), but provide an overall picture, with recent data on conducting a business in Bulgaria. In addition, our specialists in opening a business in Bulgaria can provide you with the necessary support in registering a business.

Company formation in Bulgaria from EUR 400

The price includes the administrative and notary fees.

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Quick Facts
Types of companies available in Bulgaria	– limited liability company (OOD – the most preferred structure), – general & limited partnership, – sole proprietorship, – joint stock company, etc.
Best cities for doing business in Bulgaria	– Sofia, – Varna, – Burgas, – Plovdiv, – Ruse, etc.
Virtual office packages available in Bulgaria	From EUR 30/month
Initial costs for OOD	Around EUR 1 as minimum share capital, one of the lowest in Europe
Office rental costs (approx.)	Start from EUR 1,200/month in Sofia, the capital city
Average net salary in Bulgaria	Around EUR 980/month
Investment recommendations for Bulgaria	– tourism, – real estate, – technology & innovation, – fintech, etc.
Level of bureaucracy	Time-consumming and complex
Tax benefits/deductions	– 10% corporate income tax (one of the lowest in the world), – 5% dividend tax rate, – low employee social security contributions, etc.
Bulgaria’s economy in numbers	Ranked 58th out of 67 states in the IMD World Competitiveness Ranking, with a total GDP of around USD 107.93 billion in 2024
Banking in Bulgaria	Numerous foreign banks have branches in Bulgaria, which ease business development in this country. Digital banks continue to expand in Bulgaria.
Pros of doing business in Bulgaria	– skilled and affordable workforce, – low operational business costs, – great taxation, – attractive business destination for foreigners, etc.
Cons of doing business in Bulgaria	– bureaucracy challenges, – possible issues with protecting intellectual property, – slow judicial system
Time frame to start a business in Bulgaria	About 2 weeks to start an OOD, the most popular business structure available in Bulgaria
We assist in company formation in Bulgaria (YES/NO)	YES

What are the business startup costs in Bulgaria?

If Bulgaria is your future business destination as a foreign entrepreneur, here are some approximate costs to consider:

around EUR 12 per square meter is the cost for renting an office space in Bulgaria’s business areas;
the state registration fee for a company in Bulgaria starts at around EUR 28 (online filing; around EUR 56 on paper), depending on the selected business structure;
virtual office packages in Bulgaria start from EUR 30 per month. Additional services have extra costs;
depending on the volume, the prices for accounting services in Bulgaria start at EUR 60 per month;
opening a limited liability company requires a minimum share capital of around 1 euro, which is one of the lowest in Europe.

Considering these costs, updated for 2025, you can get an idea of the budget you need to open a business in Bulgaria as a foreigner. You can consider the services of our specialists in company incorporation in Bulgaria and benefit from complete support as a foreign entrepreneur doing business in this country. We can also help you if you want to open a company in another country, such as Canada, assisted by our local experienced partners from BridgeWest Canada. There is no minimum share capital for private corporations and the incorporation takes just 1 day.

Plus, you have at your disposal some details with the following infographic:

Is it complicated to do business in Bulgaria as a foreigner?

The year 2026 begins with Bulgaria’s transition to the official euro currency. The changeover is complete (the lev ceased to be legal tender on 1 February 2026), and the fact that it was transferred to the European currency can only be an advantage for foreign entrepreneurs who want to establish their businesses in Bulgaria. On the other hand, complications in the business field in Bulgaria can come on the bureaucratic side, where the authorities are still working on digitizing and simplifying administrative procedures. Here are some other things to keep in mind if you want to set up a business in Bulgaria as a foreigner:

The 10% rate is the corporate income tax in Bulgaria, one of the lowest in Europe.
Bulgaria’s geostrategic location is advantageous because it allows foreign entrepreneurs direct connections with European countries, Asia, and the Middle East.
A highly skilled workforce is found in sectors such as IT, manufacturing, and engineering.
Many foreigners decide to join startup incubators in Bulgaria and benefit from an appealing business climate, plus government grants.
Bulgaria has been part of the Schengen area since January 1st, 2025, allowing you to travel here without many difficulties.
Over 64% of Bulgaria’s workforce is found in the services sector.

Please explore this video presentation that comprises details about doing business in Bulgaria as a foreigner:

Particularities of the investment sector in Bulgaria

Below are some interesting details about the investment sector of Bulgaria, to help you when opening a business here as a foreigner:

According to sofiaglobe.com, Bulgaria received around EUR 1.39 billion in foreign direct investments in the first 5 months of 2025.
The investment equity of Bulgaria received about EUR 331 million in the same period.
The Bulgarian government intends to unlock more than EUR 300 million through the InvestEU program and direct this amount to the financial sector.

Ready to start a business in Bulgaria as a foreigner? This article might help you better understand the business climate of Bulgaria. Additional details and support can be provided by our Bulgarian agents if you contact us.