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Open a Startup in Bulgaria

Open a Startup in Bulgaria

Startups in Bulgaria can be registered by forming a private limited liability company. Our team of company formation agents in Bulgaria can provide support and guidance to young entrepreneurs who want to open startups in Bulgaria.

 Quick Facts  
Business entities suitable for startups

– limited liability company,

– sole proprietorship

Who can open a startup in Bulgaria?

Local and foreign entrepreneurs who want to access the Bulgarian market.

Legislation for startups in Bulgaria

– FDI Law in Bulgaria,

– Company Act in Bulgaria

Minimum share capital for LLC BGN 2
Business plan required (YES/NO)


Required documents

Articles of Association with complete information about owners, future activities, general business rules

Business license

We can guide applicants interested in specific business licenses in Bulgaria.

Validation of business name The future business name must be verified and then reserved with the Bulgarian Trade Register.
Local bank account

Not mandatory

Tax registration  (YES/NO) Yes
Business address required  (YES/NO)


Number of directors

At least 1

Accounting services   You can collaborate with our team of accountants in Bulgaria.
We offer company formation services for startups in Bulgaria 

Our local agents can draft the documents and prepare the formalities for company incorporation in Bulgaria.

Free case evaluation 

It can be accessed online; our lawyers can evaluate your case.

How can I open a startup in Bulgaria?

First of all, it is important to choose the business entity, and the limited liability company or the OOD in Bulgaria can represent the proper choice, as this form suits most of the business needs. Here are the main steps of forming an OOD in Bulgaria:

  1. It all starts with a name verification and reservation with the Bulgarian Trade Register.
  2. An OOD must have at least one shareholder and one director, appointed by the owners.
  3. The minimum share capital of BGN 2 must be deposited in a local bank account in Bulgaria.
  4. The application form, the name certificate, and the Articles of Association are the main documents of the limited liability company in Bulgaria.

Once the documents are accepted by the Bulgarian Trade Register, the company will have  a tax and registration number. Next, the tax registration is required. The formalities can be properly handled by one of our specialists in company incorporation in Bulgaria. They can help you open a startup in Bulgaria, regardless of the business field in which you want to activate. Here is an infographic with information about startups in Bulgaria:

Why open a startup in Bulgaria (1).png

Do I need a business plan for my startup in Bulgaria?

Yes, once the firm is registered, it is required to create a business plan with complete information about the operations and activities you want to start. This is one of the main conditions for opening a startup in Bulgaria. The executive summary which represents the overview of the plan is another requirement. You can add details about the competition and target market, sales plan and marketing, location, legal structure, and a financial forecast. We mention that our company formation agents in Bulgaria can help you create a business plan for your startup in Bulgaria.

Bulgaria provides a great environment for startups

Bulgaria is considered a great business destination that offers a wide range of business benefits. It is a known fact that foreign investors look for a great tax regime and low labor force, criteria that describe the advantages of the business climate in Bulgaria. The corporate tax rate in Bulgaria is set at 10% and it is one of the lowest in Europe.

Having a well-motivated, experienced, and skilled workforce represents a plus in front of foreign investors in Bulgaria. When it comes to company formation in Bulgaria, the process is simple and straightforward, allowing foreign entrepreneurs to gain time and focus more on business development. The banking system in Bulgaria is quite developed, letting foreigners work in different currencies. For more details about how to open a startup in Bulgaria, feel free to talk to us. Below you can find a video presentation we have prepared on this topic:

In what sectors can I open a startup in Bulgaria?

The Bulgarian government sustains foreign investors in all sectors of interest and accepts investment projects of all kinds. The IT sector is quite prolific in Bulgaria. Startups in Bulgaria can be sustained by foreign or local businessmen or entrepreneurs who want to fund feasible projects that can return investments.

Most of the Bulgarian startups can be successful outside the borders if integrated into varied ecosystems. If you believe that Bulgaria is an ideal destination for your startup, you can get in touch with our team of consultants. You can also read the following facts and figures about the Bulgarian economy if you want to set up a company in Bulgaria:

  • Around 2.3% was the economic growth recorded in Bulgaria in 2023.
  • Around 4.5% was the unemployment rate in Bulgaria, recorded at the end of 2023.
  • The consumer price index was around 8.2% in 2023 in Bulgaria.

On the other hand, Bulgaria can be a good start for startups taking into account the following aspects:

  • Bulgaria was ranked 69th in terms of entrepreneurship in 2023.
  • Over 79% of the Bulgarian population uses the Internet.
  • The ease of doing business in Bulgaria ranks the country 113th in the world.
  • Around 0.8% of the GDP growth in Bulgaria was supported by the research and development sector.
  • In 2023, Bulgaria was ranked 38th in the world in terms of the Global Startup Ecosystem Index.
  • Sofia, the capital of Bulgaria, is the city where several established startups can be found.

10 business ideas for startups in Bulgaria

Foreign investors have many opportunities to expand their portfolios in Bulgaria. There are many options at hand in terms of opening and developing activities. Here are some ideas for startups in Bulgaria that will inspire you if you want to start a business in this country:

  1. Travel Agency – Bulgaria is a fascinating country, with an opening to the Black Sea and many tourism options. A travel agency that offers attractive packages to foreigners and locals can be a good business idea.
  2. Restaurant – With in-house serving or home delivery, the restaurant will always be a good business idea. Foreigners can opt for this type of business in Bulgaria. Registration formalities are simple and can be managed by our local agents.
  3. Real estate agency – Another area that has considerable profits year after year is the real estate sector. Renting and selling apartments are the most important activities. Foreigners have multiple possibilities on the Bulgarian market.
  4. Coworking space – The current context allows remote work for anyone. Therefore, setting up a coworking space can be a lucrative business. It is important to pay special attention to the facilities offered, to be able to attract as many customers as possible.
  5. Vegan supermarket – Vegan and vegetarian cuisine has gained great proportions in recent years. Many adopt such a lifestyle, and the offers are quite varied. You will not fail with such a business that already makes millions of dollars in profits every year.
  6. Transportation – A transportation business can be a good startup idea in Bulgaria. All you have to do is set the type of customer you want and make connections abroad. One of our company formation agents can help you register startups in Bulgaria.
  7. Recruitment company – Many companies are looking for qualified staff. That’s why a recruitment company can be a good business idea. The registration formalities are simple, and our agents can help you.
  8. Insurance company – Another profitable business idea is insurance. This type of business makes millions of dollars a year.
  9. Online shop – Online business continues to grow from year to year. From a technological point of view, it is very simple to open an online store. Also, a business like this is profitable regardless of the activities you have planned.
  10. Casino – The gambling industry is quite developed in Bulgaria. You may be interested in opening a casino if you want good profits from the start.

These are some of the ideas you could put into practice if you are interested in startups in Bulgaria. One of our local agents can help you with the formalities.

Some aspects of the startup ecosystem in Bulgaria

If until 10 years ago, Bulgaria did not have a startup ecosystem but rather a strong IT sector, things have taken a different turn. But the trajectory was a good one because the focus was on the development of optimal strategies and conditions in the business environment for those who want to implement their startups through innovation and not only that. Thus, in Bulgaria, there are already over 400 startups, many supporting associations, accelerators, and venture capital registered. Over EUR 200 million in venture capital funding was allocated to entrepreneurs in 2021 alone. Here is other relevant information about the startup ecosystem in Bulgaria:

  • The Bulgarian authorities focus on the development of the startup ecosystem and continue to implement friendly regulations to support this expanding sector.
  • In the vast majority, Bulgaria is seen as a tech hub driven by the private sector, and among the development plans is the attraction of a skilled workforce in sales and marketing.

Focusing on specific industries in Bulgaria

Bulgaria is one of the European countries that keeps pace with technological changes of any kind. The implementation of Artificial Intelligence has already been practiced in startups in Bulgaria for several years, in sectors such as health, finance, agriculture, software, travel, and more:

  • A segment that has benefited from support and assistance in the development and implementation of top technology is health tech. There are already startups in Bulgaria dealing with bioconversion, 3D printing, and other such projects successfully implemented in the medical sector.
  • On the other hand, there are already over 70 fintech startups, associations, and accelerators in Bulgaria, aimed at supporting and developing the business community.

Next generation of startup founders in Bulgaria

What is interesting in Bulgaria’s startup ecosystem is the fact that the resources and knowledge accumulated in business are passed on to the new generation of entrepreneurs. With an entrepreneurially oriented mindset, self-confidence, and prospects, the startup ecosystem in Bulgaria develops at a fast pace and offers space and support to those who want to develop their businesses here, with all the tools at hand. Young entrepreneurs have the opportunity to experiment, access various business cultures from all over the world, and progress quite quickly in the field in which they operate.

Why work with our local agents

Foreign investors may not have a clear idea of the law on registering a company in Bulgaria. Therefore, an agent with experience in this field may be helpful. He/she knows what formalities need to be considered. He/she can also work with local authorities to open a company in Bulgaria.

Efficiency, transparency, and professionalism are some of the attributes we rely on when collaborating with local and international clients. You will be able to start your own business in a short time if you turn to the specialized help offered by our team of company formation agents in Bulgaria.

Besides support for business formation, entrepreneurs can also solicit the services of our accountants in Bulgaria. Feel free to contact our team of company formation agents in Bulgaria and ask for information about such services and about how to open a startup in Bulgaria. We can tell you more about company incorporation in Bulgaria.