Small business setup in Bulgaria
In Bulgaria, small businesses can benefit from a stable economic environment, low operating costs, and opportunities for cost-effective operations in manufacturing and technology. We specialize in supporting start-up and expanding small businesses by providing assistance with company formation and necessary documentation to launch your enterprise. Let’s talk about the benefits of starting a small business in Bulgaria and how our specialized solutions can help your success.
Formalities and procedure
Registering a small enterprise in Bulgaria consists of multiple steps that can be finished within a few weeks.
Choose a business name
The name of the business must be original and not currently in use. You can verify if a name is available by visiting the Bulgaria Trade Registry’s website.
Select legal entity type
Choosing the right legal framework is crucial for the prosperity of your small enterprise. To assist you in making a knowledgeable choice that fits your unique needs and future goals, we offer expert advice on Limited Liability company (OOD), Joint Stock Company (AD), Branch Office, Holding Company.
Set up legal address
It is crucial to have a legal address when launching a business, as it acts as the primary point of contact for government agencies, legal authorities, and important business communications. Selecting a legal address that complies with local regulations and aligns with your business needs is important.
Get the necessary paperwork ready
Our expert team will assist in creating detailed and customized documentation tailored to your company’s structure and objectives. We ensure compliance with all legal requirements and will handle the filing process on your behalf.
Open a bank account
In Bulgaria, setting up a business requires having a corporate bank account. We will guide you through this procedure to ensure you meet the necessary regulations, and will help you establish a bank account with a well-established financial institution in Bulgaria for your small business activities.
Company registration
We take care of registering your small business with authorities such as the Trade and Companies Register and tax authorities, so you don’t have to deal with the administrative tasks. This ensures that your small business is legally recognized and compliant from the beginning.
Setup accounting
In order to start a small business successfully, it is crucial to keep precise financial records. Our accounting professionals can assist in setting up efficient accounting and bookkeeping procedures that adhere to Bulgaria’s regulations.
Small business examples
Small businesses are found in various industries and sectors, each with their own unique requirements. Here are a few examples of small-sized businesses:
- Business support: Smaller consultancies, individual service providers
- DIY retail: Locally-owned hardware shops, small home improvement stores
- Education: Tutoring services, small language schools, independent trainers
- Farming: Smaller, family-run farms
- Fitness: Individual trainers, small local gyms or studios
- Food and beverage retail: Independent grocery stores, coffee shops, bakeries
- Hotels and motels: Smaller, independent hotels or motels
- Laboratory: Smaller independent testing labs
- Marketing: Freelance marketers, small local agencies
- Media: Independent content creators, niche publications, small production companies
- Printing: Small local print shops
- Real-estate: Individual realtors, very small brokerage firms
- Restaurant: Independent, non-chain restaurants
Benefits of establishing a small business in Bulgaria
Bulgaria is an attractive place to start a small business, providing a wide range of benefits for entrepreneurs.
Strategic location
Bulgaria provides a steady economic climate, affordable operating expenses, and options for cost-efficient manufacturing and technology operations. Being situated in Southeast Europe, Bulgaria boasts a skilled labor force and governmental backing for creativity and business start-ups, making it an attractive option for companies seeking to enter the region.
Favorable tax regime
Bulgaria boasts a highly competitive tax system within the EU, featuring a flat corporate income tax rate of 10%. This appealing rate, combined with other incentives, positions Bulgaria as a desirable location for both businesses and foreign investors.
Banking
Bulgaria is an attractive option for individuals seeking secure and reliable banking solutions due to its stable economy, strong banking system, and potential for investment and financial services.
Our small business setup solutions
We understand the value of your time and resources. That is why we offer two convenient choices to streamline the process of establishing a company.
Business formation online
With the help of the online platform offered by Bulgaria, individuals can start and finish the process of setting up a business no matter where they are located. Being able to keep track of the progress, submit necessary paperwork, and access our services via secure digital platforms guarantees a seamless and user-friendly experience.
Business formation remotely
If you would like a more hands-off approach, we can manage all the paperwork for you. Our team of experts will handle all the necessary formalities, fill out the required documentation, and communicate with the appropriate authorities on your behalf to provide you with peace of mind.
Contact us today and launch your small business success
Get in touch now to schedule a consultation and begin pursuing your business goals. Let’s start this journey together.