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Complete guide: entity types, registration, costs, taxes, labor laws, and break-even analysis
~27 days
Setup Time
~$250
Setup Cost
10%
Corporate Tax
100%
Foreign Ownership
#61
Ease of Business
| Entity | Min Capital | Foreign % | Liability | Min Shareholders | Best For |
|---|---|---|---|---|---|
Limited Liability Company Druzhestvo s Ogranichena Otgovornost (OOD) | 1 BGN | 100% | Limited | 1 | Most common vehicle for foreign investors - BGN 2 minimum capital, full foreign ownership, lowest corporate tax in the EU at 10% |
Joint Stock Company Aktsionerno Druzhestvo (AD) | 50,000 BGN | 100% | Limited | 1 | Larger enterprises and BSE-listed companies - higher capital and disclosure but easier capital raising |
Sole Proprietor Limited Liability Company EOOD | 1 BGN | 100% | Limited | 1 | Single-founder structure - simplified governance for solo founders or wholly owned subsidiaries |
Branch of Foreign Company | None | 100% | Unlimited | 0 | Foreign companies extending operations - parent retains liability but no separate share capital required |
Reserve company name
Check name availability with the Bulgarian Commercial Register; reservation can be done online with a qualified electronic signature
1-2 days
~$25
Commercial Register at the Registry Agency
Notarise founding documents
Articles of association and consent to act as manager must be notarised before a Bulgarian notary or apostilled abroad
1-3 days
~$150
Bulgarian notary
Open a temporary capital account
Deposit at least BGN 2 (~EUR 1) for an OOD or BGN 50,000 for an AD into a blocked account at a Bulgarian bank
1-5 days
Free
Commercial Bank
Register with the Commercial Register
File articles, capital deposit confirmation, and director details; standard registration takes 3 business days, expedited 24 hours
3-7 days
~$75
Commercial Register
Register with NRA for tax and VAT
Apply with the National Revenue Agency for tax and VAT registration; mandatory above BGN 100,000 annual turnover
1-7 days
Free
National Revenue Agency (NRA)
Register employees with NSSI
Register the company and each employee with the National Social Security Institute before the first day of work
1-3 days
Free
National Social Security Institute (NSSI)
$533/mo
Minimum Wage
$1100/mo
Average Wage
40 hrs/week
Work Hours
20 days/year
Paid Leave
1 weeks/year
Severance
19.62% of salary
Employer Social Security
13.78% of salary
Employee Social Security
Required
Foreign Worker Permit
Foreign Worker Quota: EU/EEA citizens have free movement. Non-EU workers need a work permit through the Employment Agency; quota system applies but IT and shortage occupations have streamlined processing.
Work Permit Process: Non-EU workers need a single permit issued by the Migration Directorate after labour market test; Blue Card available for highly qualified workers with simplified processing
#61/190
Ease of Business Rank
23 days
Starting a Business
19 days
Registering Property
564 days
Enforcing Contracts
45/100
Corruption Perception
84%
Internet Penetration
BGN
Currency
UTC+2
Time Zone
12
Retail (months)
10
F&B (months)
12
Tech (months)
18
Manufacturing (months)
8
Services (months)