Company Formation in Bulgaria

Who can form a company in Bulgaria?

A Bulgarian company may be established by Bulgarian citizens, EU citizens, non-EU citizens and foreign companies, with one or more shareholders. Foreign founders do not generally need Bulgarian citizenship merely to hold shares in a Bulgarian company. Please note that ownership of a Bulgarian company does not automatically give a foreign national the right to reside or work in Bulgaria - immigration status is assessed separately.

Immigration lawyer: residence and work in Bulgaria

EOOD or OOD - which company type should you choose?

Both are limited liability companies under the Bulgarian Commerce Act. An EOOD has a single shareholder, while an OOD has two or more shareholders. The choice affects the constitutive documents, decision-making and the way future changes in ownership are handled. Not sure which structure is appropriate? Contact us before incorporation.

What we can handle for you

• Initial legal consultation and choice of corporate form
• Preparation of the articles of association / memorandum of association
• Shareholder resolutions and appointment of the manager
• The declarations required for registration
• Power of attorney where applicable
• Preparation of the Commercial Register application
• Filing with the Commercial Register
• Communication regarding registration irregularities where appropriate
• Corporate amendments after registration

Can you register a Bulgarian company remotely?

In many cases a significant part of the process can be organised remotely, through a power of attorney and documents prepared in advance. The precise requirements depend on the founders and their documents: banking, signature certification and notarial formalities may affect how the process is carried out, and in some cases original, apostilled or legalised documents and certified translations are required. We confirm what is possible remotely for your specific case before starting.

How the company formation process works

1. 01Initial information and choice of structure
2. 02Preparation of the corporate documents
3. 03Capital and the required formalities
4. 04Signing, notarial certifications and powers of attorney where required
5. 05Filing with the Commercial Register
6. 06Registration and next steps

What happens after the company is registered?

• Accounting and the keeping of corporate records
• VAT registration where applicable
• Contracts with clients, suppliers and partners
• Employment of staff and, for foreign employees, work permits
• Subsequent corporate changes filed with the Commercial Register

Company formation in Bulgaria for foreign founders

• Foreign individuals and foreign companies can, as a rule, establish a Bulgarian company, subject to the applicable legal and document requirements.
• Documents issued abroad may require apostille or legalisation and a certified translation into Bulgarian.
• Ownership of the company is separate from immigration and work rights, which are governed by the residence rules.
• Assistance and correspondence can be provided in English throughout the process.

Frequently asked questions

Can a foreigner open a company in Bulgaria?

Yes. Foreign individuals and foreign companies may, as a rule, establish or hold shares in a Bulgarian company, subject to the applicable document and identification requirements.

Do I need to live in Bulgaria to own a Bulgarian company?

Residence in Bulgaria is not, as such, a condition for holding shares in a Bulgarian company. Separate requirements may apply to specific activities or to the management of the company.

Can company formation be handled remotely?

In many cases a substantial part of the process can be organised remotely through a power of attorney and documents prepared in advance, although banking, notarial and document-legalisation requirements may make certain steps necessary in person.

What is the difference between an EOOD and an OOD?

Both are limited liability companies. An EOOD has one shareholder; an OOD has two or more shareholders.

How long does company registration take?

The timeline depends on how quickly the documents are prepared, the bank and notarial formalities and the current workload of the Registry Agency. Documents issued abroad may require apostille or legalisation and translation, which extends the overall timeline. We confirm a realistic timeline for your case before filing.

How much does company formation in Bulgaria cost?

The cost consists of the legal fee, the state fees of the Commercial Register and, where applicable, bank, notarial, translation and apostille costs. The final amount depends on the structure, the founders and the documents involved.

Does owning a company give me Bulgarian residence rights?

No. Ownership of a Bulgarian company does not automatically grant a right of residence or work in Bulgaria. Residence is assessed under the separate immigration rules.