A series of competitive advantages are provided to those businessmen interested in setting up a shop in Bulgaria. Export oriented sectors, low operational costs and a growing manufacturing industry can turn the decision to open a shop into a profitable one. The Bulgarian legislation related to foreign investments is strongly connected with the European one, promoting the same rights and obligations for foreign and local investors. Our experts in company formation in Bulgaria can give you further details about the procedure of setting up a shop.
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The process of opening a shop in Bulgaria
According to the Bulgarian legislation related to foreign investments, there are specific rules and regulations which apply to foreigners who want to open a shop in this country. We offer you a description of the process to undergo when setting up a shop in Bulgaria.
The first step to consider is to choose a type of company for your business. The limited liability companies and joint stock companies are the most common types of legal entities in Bulgaria. After choosing the form of business, you must draw the articles of association and deposit the paid-up capital in a Bulgarian bank. The next step addresses the process of company registration with the Bulgarian Registry Agency.
After you obtain the certificate of registration, you must undergo the procedure of VAT registration, purchase and register fiscal device and have your employees registered for social security and healthcare. The commercial object of your shop has to be declared to the Sofia municipal council, in order to inform the municipality about the type of activity you are going to perform. The entire process of opening a shop can be professionally handled by our specialists in company registration in Bulgaria.
Permits and licenses for Bulgarian shops
If you want to set up a shop in Bulgaria, you must know that it is a common practice to display the business license and permits in order to prove the legal aspect of your business. These are the things that a shop license should contain:
- • The name of the company, its legal form and the registered address;
- • The business registration number;
- • The registered capital;
- • The legal representative of the company;
- • The business scope;
- • The date of establishment;
- • The date when the license expires.
Looking for accountants in Bulgaria? Feel free to discover the services of our local team. With the necessary experience, they can deal with all aspects related to bookkeeping, audits, payroll, preparation, and submission of annual financial statements. Our experts are certified accountants and can help clients with company registration for tax payments. Complete financial reports can also be drawn up, with the help of which the company’s financial situation can be analyzed.
Since the process of obtaining a business license for your shop can be rather difficult, we kindly invite you to contact our Bulgarian company formation agents if you need assistance throughout the process.