Doing business in Bulgaria. Entering the Bulgarian market.
Our services
Save your business tens of thousands of dollars
when entering the Bulgarian market
Save your business tens of thousands of dollars
when entering the Bulgarian market
General information
Population
6,900,000 people Official language
Bulgarian Main religion
Christianity Currency
Bulgarian lev (BGN) Time zone
UTC+2 Economy of Bulgaria
GDP per capita
12,221 USD Economic growth
3,9% Unemployment
5,42% Inflation
13% Investment inflow
2.12 billion USD Business in Bulgaria
Popular type of legal entity
Limited liability company (LLC) Minimum number of shareholders
1 Company registration period
1 week Minimum share capital
1 USD Restrictions for foreigners on starting a business
No A local director is required?
No. However, a legal representative must be appointed, who is either a Bulgarian citizen or a foreigner with permanent residence in the country Corporate tax
10% VAT
20%, with reduced rates of 9% and 5% for certain goods and services Advantages and disadvantages
Advantages
strategic location, favorable tax regime, growing economy, affordable labor, access to EU markets, low cost of living and doing business Disadvantages
corruption, bureaucracy, insufficient legal protection, shortage of skilled labor and language barriers, regional differences in infrastructure development