Establishing new business entities, including with foreign participation, or acquisition of shares in existing local entities is governed by the Commercial Act. There are no restrictions on foreign legal entities and individuals.
Most Popular Forms
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OOD
Limited Liability Company
✓ Minimum capital — €1
✓ At least 1 Director and 1 Shareholder
✓ No nationality restrictions
✓ Incorporation: 3–4 working days
RECOMMENDED FOR STARTUPS & SMEs
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AD
Joint Stock Company
✓ Minimum capital — €25,000
✓ Paid-up capital — min. 25%
✓ 1 Chairman, 3 Board Members, 1 Shareholder
✓ No nationality restrictions
✓ Annual audit
FOR LARGE COMPANIES & INVESTORS
All Forms of Business Associations
Sole Trader (ET)
individual, permanent residence required
Unlimited Partnership (SD)
joint and unlimited liability
Limited Partnership (KD)
limited + unlimited partners
Limited Liability Company (OOD / EOOD)
MOST POPULAR
Joint Stock Company (AD / EAD)
FOR LARGE INVESTMENTS
Limited Partnership with Shares (KDA)
hybrid form
Registration Steps
1
Prepare Articles of Association
Partnership agreement or charter with notarized signatures. Define company name, seat, scope of activity and capital.
2
Deposit Capital
Open an escrow account at a bank. For OOD: min. €1. For AD: min. 25% of €25,000.
3
Submit Application to Commercial Register
At the Registry Agency. Can be filed at any territorial office regardless of seat.
4
Registration & Start of Activity
The company comes into existence from the day of registration. You receive a UIC (Unified Identification Code). VAT registration required when turnover exceeds BGN 100,000.
Other Options for Foreign Investors
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Branch
Registered at Commercial Register. Independent accounting. No capital required.
📋
Representative Office
Registered at BCCI. Marketing & promotion only. No business activities.
📈
Capital Markets
Bulgarian Stock Exchange. Regulated by FSC. Investment opportunities.
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Important
No prior governmental permission is required, except for banking, insurance, investment funds and special concessions. All changes must be reported within 7 days. Annual financial statements must be filed with the Commercial Register.
Sources: Registry Agency, Commercial Act of the Republic of Bulgaria
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