You decide to settle in Bulgaria or to buy a property. You would like to run a business in Bulgaria? Here are the steps for creating a company in Bulgaria :

The creation of a company in Bulgaria is required if:

1. You do not work and want a resident card
2. You are going to buy a property in Bulgaria

Good to know :

1. Since 2010, the minimum required capital to register a company in Bulgaria is 1.00 Euro.
2. Always specify in the company articles, the activities of your company.
3. Your account company must always have a minimum balance of 100.00 leva (€ 50.00)
4. The fiscal year runs from March to March.
5. Payments of taxes and presentation of balance sheets before March 31 of each year

CREATE A COMPANY (STEP BY STEP)

Contact a lawyer : his presence is required. He will do your steps. Prices for creation of company are between € 350.00 and € 550.00 (all inclusive)

This lawyer will (in chronological order) :

• Opening of your business account at the bank of your choice

• Deposit of your capital on the account

• Signature of your statutes in front of a notary. (presence of a certified translator is required (fee around € 15.00) )

• Your lawyer then proceeds to your registration with the tax and the commercial register (3-5 days)

• The lawyer will give you the official stamp of your company and your number (trade register) which is called here BULSTAT. This number will appear everywhere : your invoices, cash register, etc. .. your letters

• Now you just have to get in touch with an accountant (also required).

ISSUE INVOICE IN BULGARIA

Bills to free formats are not allowed. You can not issue invoices that you have designed yourself.
Bulgarian language is required on invoices. No invoice or contract can be done in English.
You must acquire a biller in the format known as "legal". Only bills from this biller and are accepted. You will find offices that sell that king of invoices everywhere in Varna. You must give : your company articles for printing. Expect to pay about € 8.00 for this invoice book.

CASH IN ENDANGERED SPECIES

In order to limit money laundering, the Bulgarian government has set up a tax system connected to cash registers traders. It is forbidden to receive cash without recording tax in your cash register machine. You can not be paid in cash without issuing a receipt.
Your accountant will advise you on the type of machine that best suits to your business and will accompany you. Several shops specializing in the sale of these machines are present in Varna. The minimum price of a cash register is around € 100.00.
Each year you will have to pay a tax for the operation. Expect to pay about € 12.00 per year.
Once you are registering payments with the cash register : you are connected to the Bulgarian tax authorities.

You have other questions ? Contact us ...