How to Open a Company in Bulgaria as a Foreigner

Opening a company in Bulgaria as a foreigner is more straightforward than most people expect. Bulgarian company formation gives you access to the EU's lowest flat corporate tax rate, a simple registration process and full foreign ownership with no local partner required. Whether you are relocating your business entirely or registering a new entity from abroad, Bulgaria offers a legally solid, cost-efficient structure that works for online businesses, consultants, agencies and small companies of all kinds. At Expats Varna we walk you through every step, from choosing the right structure to getting your accounting in place.

You do not need a Bulgarian partner. Foreigners can own 100% of a Bulgarian company and serve as directors. You simply need to comply with the standard requirements: a Bulgarian registered address, a bank capital deposit, and a clean filing in the Commercial Register. A foreigner can also register a company remotely through a proxy, meaning no personal presence or permanent residence in Bulgaria is required.

Any foreign company or person can register a business in Bulgaria. An investor can be a foreign person regardless of whether they are an EU citizen or a resident of a non-EU country. That includes entrepreneurs from the Netherlands, Germany, France, Italy, the UK, Turkey, Ukraine and well beyond. The process is the same regardless of nationality.

Selecting the appropriate structure, EOOD, OOD or AD, defines your liability coverage, tax strategy opportunities, and ownership and management flexibility. For most international entrepreneurs, the choice comes down to two options.

The EOOD is Bulgaria's most popular structure for solo founders. It has one shareholder and one director. It is established with a minimum capital of just one euro and allows for a quick start of operations. It is perfect for digital businesses, consultants and freelancers who bill clients in the EU but want a straightforward Bulgarian company registration vehicle.

The OOD is the multi-member equivalent. If you are starting a Bulgarian company with a business partner or co-founder, the OOD gives you a flexible ownership structure with limited liability for all shareholders. Both EOOD and OOD keep costs and capital low at around 1 EUR, while EAD and AD structures suit investor-ready teams and require 25,000 EUR capital. For the vast majority of entrepreneurs we work with, the EOOD is the right starting point.

The process involves reserving a company name, opening a capital bank account, collecting notarised signatures, demonstrating your registered address, and registering with the Bulgarian trade register. Here is what each of those steps looks like in practice.

Documents signed abroad must be notarised and apostilled. This typically includes a declaration of consent, the company articles, a specimen signature and a copy of your passport. All foreign-language documents must be officially translated into Bulgarian and certified by a sworn translator. At Expats Varna we have a network of seven professional sworn translators and coordinate this on your behalf, so you are not left hunting for a certified translator yourself.

Opening an accumulation account is the first practical step in registering a company. Recent amendments to Anti-Money Laundering laws have made it increasingly difficult for foreign companies to open these accounts, particularly for non-EU nationals. This is one of the areas where having a local team that knows the banks and their requirements makes a real difference. We accompany clients to their bank appointments so that nothing is lost in translation, literally or procedurally.

With a clean document pack, the Commercial Register decision typically arrives within 1 to 3 business days. Expect the full process to take 2 to 3 weeks when working remotely, due to document shipping and legalisation. Once the registration is confirmed, your Bulgarian company exists as a legal entity and you receive your company registration number.

After registration, your company needs to be enrolled with the National Revenue Agency for tax purposes. A taxable person must register for VAT if their taxable turnover exceeds EUR 51,130 for the current or previous calendar year. Corporate tax filing in Bulgaria follows a calendar year, with returns and final payments due by 30 June annually. Advance tax payments are mandatory, made monthly or quarterly. Our accounting team handles all of this for you on an ongoing basis.

Here is a quick overview of the key steps and typical timeframes:

When everything is prepared correctly from the start, most clients are fully registered and operational within two to three weeks.

There is a misconception worth addressing directly. Simply registering a Bulgarian company does not automatically mean you will pay Bulgarian corporate tax and immediately save money. The company must be structured and operated correctly .

Tax residency, where the business is actually managed, where the owner lives, where the work is performed and whether there is genuine activity in Bulgaria can all matter. An empty shell with no real substance can cause serious problems with both Bulgarian and home-country tax authorities. Bulgaria is not a disguised tax haven or a universal solution. It is a tool, and like any tool, it requires knowing how to use it and fitting the right profile.

This is exactly why Expats Varna focuses on building a proper, practical setup rather than offering a cheap company registration with no follow-through. We want you to benefit legally and sustainably, not to create a structure that causes problems later. Read more about how tax in Bulgaria works for foreign-owned companies before you decide.

Rini Petersen, one of our founders, went through a Bulgarian company registration himself before Expats Varna existed. It took over three months, involved rejected documents, duplicate fees and visits to multiple offices, all because there was no single partner who took responsibility for the complete process. Different providers could each handle one small piece, but nobody coordinated the whole picture.

That experience is the direct reason Expats Varna exists. We built the service that was missing: one local team in Varna that coordinates lawyers, accountants, translators and notaries, keeps everything organised in our online client application , and accompanies you to the appointments where you would otherwise stand at a counter alone, uncertain about what to sign or say. You should never have to manage unfamiliar Bulgarian procedures without support. That is a promise we keep for every client who comes to us to set up a company in Bulgaria.

"We are really happy with the online digital system they have. I even ask for a function and they added that directly. Also they have their accounting in the web app, wonderful."

That kind of feedback is what keeps us building. If you want to understand the full picture of life and business in Bulgaria as an expat, we have put together a complete guide that covers everything from housing to banking.

Ready to open a company in Bulgaria? We would be happy to walk you through exactly what is needed for your situation. Book a free online meeting at expatsvarna.com/online-meeting or call us directly at +359 87 728 2945 . No commitment, no jargon, just a clear conversation about what is possible for you.

At Expats Varna, we have helped more than 50 entrepreneurs and business owners relocate to and register companies in Varna and the surrounding region. You can learn more about who we are and how we work, explore the details of Bulgarian company formation, or read our full guide on tax in Bulgaria to understand exactly how the numbers stack up for your business. If you are also thinking about the personal side of a move, our complete expat guide to life in Bulgaria covers everything from neighbourhoods to banking. When you are ready to take the next step, plan a meeting with us and let's look at your options together.