Last Updated on October 24, 2023 by Bulgarian attorney

Bulgarian EOOD Company

Setting up a company in Bulgaria in 2023

Setting up a limited company in Bulgaria remotely by granting a Power of Attorney is no longer possible. Incorporating a company in Bulgaria now requires a personal visit and obtaining a Bulgarian residency card. However, to bypass the need for a personal visit, an alternative option is to purchase a ready-made Bulgarian 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 car 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

1. You have to plan 3 working days visit to obtain a Bulgarian residency card required to satisfy bank compliance for opening a deposit bank account.
2. Drawing up the set of incorporation documents.
3. Applying and opening of a deposit account. Banks considers deposit accounts within few days to few weeks.
4. Filling the set of incorporation documents to the Bulgarian Commercial Register .
5. Your company is officially incorporated next business day.
6. Withdrawing the deposited founding capital and opening a business bank account.
7. Appying for a VAT registration of your Bulgarian company.

Ready-made limited companies

If you prefer to skip the hassle of setting up a brand-new limited company, our expert team is here to support you in acquiring a Bulgarian ready-made EOOD company. This streamlined approach allows you to swiftly establish your business operations and start your entrepreneurial journey without the complexities of initial setup.

Documents required

• 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 inheritance tax rate in the EU
• Lowest setup fees among EU countries.
• Minimal required founding capital – just 1€.
• Lowest tax rate on dividends in the EU – only 5%.
• Favorable tax rate on corporate and personal income – a flat rate of 10%.
• Competitive social security contributions compared to other EU nations.
• VAT rate of 0% within the EU.
• Easy, efficient, and secure incorporation process.
• Affordable accounting and legal services.
• Company incorporation completed within 24 hours.
• Double Taxation treaties in place with over 70 countries.

Advantages using our services to establish EOOD company in Bulgaria

• Top location registered office address for your Bulgarian company
• No fee for scanned business mail service.
• No maintenance, annual or hidden fees.
• Assistance provided to obtain Bulgarian residency and become a tax resident of Bulgaria.
• Competitive pricing for Accounting Services in Bulgaria.
• Free scanned business mail service.
• Option to purchase a Bulgarian ready-made company.
• Option to register a holding company in Bulgaria.

How to open a company bank account in Bulgaria?

Bulgarian banks have a policy of not opening accounts for non-Bulgarian residents. Therefore, in order to apply for the opening of a company account, the director must first obtain Bulgarian residency. Acquiring a Bulgarian residence card is a prerequisite not only for opening a company account but also for qualifying as a tax resident in Bulgaria.

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 wish to make changes to its circumstances, we can provide assistance with the following:

• Change in ownership and directorship.
• Increase or decrease of the company’s capital.
• Change of the registered office address.
• Change of the company’s name.
• Conversion to a Bulgarian Joint Stock EAD company.
• Conversion to a Bulgarian Limited Liability Partnership OOD company.
• Liquidation of a Bulgarian EOOD company;
• Insolvency in Bulgaria.

To make any changes to your company’s circumstances, it is necessary for you to grant us authorization to act on your behalf for the specific change. While some changes may not require the certification of authorization documents, others might. The processing time for changes in company circumstances is typically around 5 working days.

Company Formation in Plovdiv

Plovdiv, the second largest city in Bulgaria, is a highly sought-after destination for international companies. It holds great appeal, particularly for IT companies. Plovdiv offers a favorable business environment with significantly lower costs for business services compared to the capital city of Sofia.

Company Formation in Plovdiv, Company Formation in Sofia, Company formation in Varna, Company formation in Burgas