"The government makes the decision. If I made the decision, most of my tax money would go elsewhere." - Jeffrey G. Duarte
Using Bulgarian Limited Liability Company (LTD) for your business needs will provide you with the benefits of the sound EU financial system and legal framework, prestige of trading from EU location, access to world class banking facilities, and all that combined with the lowest tax rates in the European Union. The simplicity of the accountancy and bookkeeping procedures are additional characteristics that make the Bulgarian Limited Liability Company the ideal choice for trading worldwide.
We will incorporate your new LTD according to your requirements and strictly as per Bulgarian laws and the applying EU standards. The formation service includes all necessary additional formalities so that the company is ready to start trading.
Low capital requirement
The minimum required equity capital by law is now only 2 BGN (about 1 EUR), down from 5000 BGN some years ago. We do however advice our customers to choose appropriate seed capital amount rather than opting for the absolute minimum. There are many reasons for that, which we will explain during the company incorporation process.
Choice of business name
You can choose any name for your business if it is available. We will check the name availability immediately as we do have access to the electronic state company register data.
Incorporating a company and starting or redirecting your business in a foreign country doesn’t have to be complicated. We will provide all needed support for the start-up or transition of your business, such as accountancy and legal advice, GDPR compliance services, registration office address, bank introduction, etc. We cut no corners when it comes to legal conformity and we praise ourselves for being able to assist even the most legally cautious customers.
Speed of incorporation
Normally it only takes us about five days to form a new company in Bulgaria. As the formation process requires notary certifications, the process can vary in both directions. In urgent cases, we are able to shorten the process significantly. You can read more about the different legal requirements for certification and whether you need Apostille legalization for Bulgaria. You can also check the procedures of translation and legalization in Bulgaria.
A Bulgarian limited company may have either multiple or a single shareholder, who may also be its sole director. The shareholder and the director may also differ, as per the incorporator's wish. It is important to know, that unlike in some other countries, the manager of the company (if he is non EU national) does not need work permit for Bulgaria.
The company may be registered anywhere in Bulgaria, however we strongly recommend domiciliation in the Capital Sofia. The company's management address may differ from the registered address. We will fully assist the client and can provide registered address as well as virtual office services upon request.
As the name implies, the Bulgarian Limited Liability Company (LTD) separates its liability that it may inherit, from the liability of its shareholders - in other words, it is the best capital protection vehicle and can be used for both trading and capital preservation.
Other forms of legal entities in Bulgaria
Besides Limited Liability Company, there are also other types of entities that can be incorporated in Bulgaria. While the LTD is definitely the most frequently utilized company structure, the other legal forms can prove to be even more beneficial to many investors and entrepreneurs. Click the button below for more information on LTD and the other legal structures in Bulgaria.
Residency rights and EU Citizenship through establishing of a business in Bulgaria
Our lawyer Hristo Vasilev about the Bulgarian Citizenship by Investment program @ Bloomberg TV
Provided certain conditions are met, your Bulgarian company can be utilized in order to enable a foreign citizen to obtain work permit and long term Bulgarian residency with possibility for obtaining Bulgarian citizenship after the legal period of residing in the country has been met. In the last few years, the Bulgarian state program for obtaining of Bulgarian citizenship by investment is picking up. More and more applications are being submitted from citizens of non-EU countries, willing to obtain EU nationality in order to enjoy visa free travel to most countries worldwide and to gain unlimited living and working rights within the whole territory of the EU. The Bulgarian citizenship program provides the possibility to obtain all that freedom for an investment in Bulgaria. We can facilitate the financial side of the process and provide tax advice and cost optimization options. You can find extremely important and up to date information about the latest trends and legal amendments in the Bulgarian program for Citizenship by Investment on the website of the Bulgarian CBI Program.
Bulgarian taxation and accountancy services
Probably the main advantage of the Bulgarian companies, compared to other EU entities, is the rock bottom corporate tax rate in Bulgaria, which is 10% - the lowest in EU. Ongoing administration is also relatively easy, straightforward and affordable.
Opening of bank accounts in Bulgaria
Company formation always requires bank account set-up. Whether a mere deposit bank account to safely stack some cash reserves or active trading merchant account, we will try our best to meet our clients needs. We will offer bank introduction to virtually all Bulgarian banks with the possibility of opening online bank accounts, obtaining debit and credit cards, etc. We have arranged with the majority of the banks who operate in Bulgaria, the possibility to open bank accounts on behalf of our customers by means of providing legalized Power of Attorney (POA). Please can read more about opening of bank accounts in Bulgaria.
Bulgarian NGO – Foundations and Clubs
Registration of a non-governmental organization (NGO) - club or foundation, is especially beneficial when the ultimate beneficial ownership of the entity, alongside with its assets need to be structured in a neat and orderly way. The functioning of foundations (clubs are rarely used for the purpose) in Bulgaria is governed by a thorough and far-reaching statutory act that is in line with the relevant Bulgarian Law on the non-governmental (AKA non-profit) entities. We can provide professionals to act as governors under trust, taking full responsibility, providing that all legal conditions and AML regulations are being observed. The founder(s) of the foundation can be in general any person or entity. The beneficiaries can be either explicitly named person, people who meet certain criteria or have been chosen by the board. In all cases the structure can be fine-tuned to meet your needs, requirements and ultimate objectives. The foundations, under the current Bulgarian legislation, can be in public or private interest (very important). Please read more about the advantages of Bulgarian foundation or contact us for professional advice and in depth discussion on the different options.
Ready made Shelf Companies
Some of our ready made companies have never traded before while others have a long trading history under the belt. The choice is yours - you may need a brand new company registered recently or an active and established entity with some trading history, references and established business. Whatever your choice is, you can start using your purchased Bulgarian company within a day or two from the signing of the share transfer agreement. To protect our customer's interests and to comply with the legal regulations, we will arrange the notary legalization of all share transfers.
Nominee Shareholders & Directors
Provided a number of legal conditions are being met, we may be able to provide nominee director and shareholder services to eligible customers. These services are based on well drafted and legally binding trust agreements and special director service agreements to protect the interests of all parties concerned. After performing the required due diligence formalities and becoming familiar with your business structure, we will provide you with a relevant offer. We also need to assess our work loads and responsibilities for the nominee services as well as the scope of our involvement. For extra security, joint signing rights may be ascertained to different directors. Pre-approval of actions instruction mechanism can be introduced in the trust agreement for added protection. In general, we employ the best global practices of the trust services industry. Should you or your legal advisers have special requirements, we will be very committed to take them into account. We must stress that we will never provide nominee services for any illegal activities as we have zero tolerance policy or anything that violates Bulgarian and EU laws.