There is another significant business sector in which Russians feel at ease in Bulgaria. This is work with compatriots in a broad sense: with all who came to the country from the former Soviet republics. This market sector is difficult to attribute to large. For the most part, it does not require large-scale investments — only skills, classes, and initiatives.

Business with compatriots in Bulgaria

  • Real estate. Wanting to buy or rent an apartment, house or premises for business, an entrepreneur from Russia (or neighboring countries) may turn to a Bulgarian real estate company. But in this case, may have a language problem. So, psychologically, it is easier to cooperate “with his” people. However, we recommend that you search for a company such as VD&A, for example.  They are specialized in consulting and servicing foreign and Russian businessmen. These are companies where you will be served in your native language.
  • Excursion service. The reasons why the Russian-speaking guide is preferable for tourists and the Russian Federation, Ukraine, Belarus and other post-Soviet countries are the same, but you can add a price advantage to them if you can provide it.
  • Beach services. It doesn’t matter to a tourist from foreign countries which company will provide him with a lounge, an umbrella or a table with drinks. The tourists who have arrived from the CIS(SNG) will be happy, having received all this from compatriots. The same applies to water bikes, scooters, “bananas”, etc.
  • Legal mediation in obtaining residence permits, citizenship, business residence permit, hiring employees, customs clearance, etc. Legal assistance is needed for many Russians who have arrived in Bulgaria for various reasons. An excellent chance for those who know how and loves to learn. To obtain the official right to provide services, local accreditation is required.
  • Advertising and promotion of business in Bulgaria. Competent marketing involves an individual approach to each client. It’s hardly possible to manage without Bulgarian specialists. But it’s also a matter of providing contact and mutual understanding between agencies and customers.
  • Adaptation courses. Migrants, including ethnic Bulgarians, who came from the CIS, at first experience natural discomfort, including due to the not always perfect language skills. Assistance in the rapid assimilation of local customs and laws, as a rule, is also in demand.

Business in Bulgaria with minimal investment

In Bulgaria, the registration fee for a company is symbolic – BGN 2. It is in this money that the authorized capital of an individual entrepreneur (ET – “sole trader”), who pays 10% of the monthly profit, is estimated.

Requirements for investing funds for a limited partnership (KD) are not established at all. In fact, may not exist. The minimum initial capital of a full partnership is the same 2 leva.

Despite these democratic conditions, their formal nature should be taken into account. However money is needed . The smallest amount which will manage the registration of the legal entity will amount to the equivalent of € 800, not including the initial capital.

The peculiarity of the Bulgarian economic realities are relatively low acquisition prices at high current costs. Housing charges and other inevitable payments are expensive.

Starting a business in Bulgaria

Starting a business in Bulgaria can be cheap (not more expensive than in Russia). But if it turns out to be insufficiently profitable, it will be completed quickly.

That’s why we strongly recommend using the services of a local consulting firm. VD&A is a consultancy and law firm that deals with registrations of companies of foreigners (Russians) in Bulgaria. As with the subsequent bookkeeping of the company, payment of all necessary taxes and fees. The services of such a company will save you a lot of time and headaches.

To be continued…

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