Bulgarian EOOD Company
Since the begining of 2020, it is no longer possible to set up a limited company in Bulgaria remotely by granting a Power of Attorney. Strict bank compliance requires personal visit and obtaining a Bulgarian residency card before incorporating a company in Bulgaria. To skip the personal visit, you may consider buying a Bulgarian ready-made company.
The EOOD is a company designation in which the shareholder’s liability to creditors is limited to the amount of capital deposited in the company. Liability does not extend to the individual shareholder’s assets. The Bulgarian EOOD company is preferred by persons who would like to start their business in Bulgaria or who would like to purchase a real estate property.
The Private limited EOOD company is strongly recommended to IT professionals who would like to benefits from the Bulgarian corporate tax rate of flat 10%. The EOOD is also suitable for registering a boat or registering a motor vehicle as a company asset. Protecting your assets you will also benefit from the low taxes on vehicles and boats in Bulgaria.
If you are two or more shareholders you may consider the registration of a Bulgarian OOD company.
Steps to set up a limited company in Bulgaria
- You have to plan 3 working days visit to obtain a Bulgarian residency card required to satisfy bank compliance for opening an escrow/ deposit bank account.
- Drawing up the set of incorporation documents (Power of Attorney, Memorandums and Declarations) when the residency card is issued.
- Applying and opening of an escrow account. This usually takes a day.
- Certifying a Specimen with a local notary and Filling the set of incorporation documents to the Bulgarian Commercial Register
- Your company is officially incorporated next business day.
- Withdrawing the deposited founding capital and opening a business bank account.
- Appying for a VAT registration of your Bulgarian company.
- Copy of an identification document (passport or national ID card)
- Propose a company name
- Name of the company’s director
- Name of the company’s capital sole shareholder
- Amount of the foundation capital preferred
- Business activities
Benefits of registering a Bulgarian company
- Lowest setup fees within the EU.
- Lowest required founding capital – 1€ .
- Lowest Tax on Dividends in the EU – 5% only.
- Lowest Tax on Corporate & Personal Income – 10% flat rate.
- Lowest Social security contributions in the EU.
- VAT within the EU – 0%.
- Easy, Fast and Secure incorporation service.
- Affordable accounting & legal services.
- Company incorporation within 24 hours.
- Double Taxation treaties with 70+ countries.
Advantages using our services to establish EOOD company in Bulgaria
- No fee for a registered office address. We will provide a top location registered office address for your Bulgarian company free of charge for as long as you need.
- No fee for scanned business mail service.
- No maintenance, annual or hidden fees.
- Assistance to obtain Bulgarian residency and become a tax resident of Bulgaria.
- Competitive pricing for Accounting Services in Bulgaria.
- Free scanned business mail service.
- You may purchase a Bulgarian ready-made EOOD company.
- You may register a holding company in Bulgaria.
How to open a company bank account in Bulgaria?
Since the begining of 2020 banks in Bulgaria refuse to open escrow and company accounts unless the director of the company is a resident of Bulgaria. The director has to obtain a Bulgarian residency for EU citizens prior to applying for the opening of a company bank account. The residence card is also a precondition to qualify for Bulgaria tax residency.
Alternatively, you can open an account of your Bulgarian company with any e-financial institution as Paysera, Wise or Revolut.
For more details about registering a Bulgarian ЕOOD company, you may request a call back.
Change in the circumstances of an EOOD company
If you have already registered your Bulgarian company and you would like to change any of the company circumstances we may assist you with the following:
- Change in the ownership and directorship;
- Increase/ decrease of the company capital;
- Change of the registered office address;
- Change of the name of the company;
- Convert EOOD company into Bulgarian Joint Stock EAD company;
- Convert EOOD company intoBulgarian Limited Liability Partnership OOD company;
- Liquidation of a Bulgarian EOOD company;
- Insolvency in Bulgaria.
To change any of your company circumstances, you will need to authorize us to act on your behalf related to the particular change. The authorization requires few documents to be certified in the nearest Bulgarian embassy or consulate. Changes in company circumstances take 5 working days after receiving authorization.
If you have any questions regarding company changes, please do not hesitate to contact us.
Company Formation in Plovdiv
Plovdiv is the 2nd biggest city of Bulgaria and a very popular destination for international companies. The city of Plovdiv is especially popular among IT companies.
Business services costs are substantially lower in Plovdiv compared to Sofia.
Bulgarian Business Visa through company formation in Bulgaria:
If you are a non-EU national and you would like to obtain a short-stay Bulgarian Business visa, you are NOT required to employ local citizens. You may order our Bulgarian Business Immigration Package:
- Registration of a Bulgarian limited company.
- Invitation short-stay visa.
For more details about Bulgarian invitation letters and applying for a Bulgarian Business visa, you may request a call back.