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