Simplified registration procedure. Following changes to the Commercial Register Act in 2016, a
company can be opened within 24 hours. The registration agency has already upgraded its online
electronic system, which allows applications to be reviewed and registered within 24 hours.
VAT registration is compulsory for companies entering into financial relations with entities in EU countries, as well as in case of reaching an annual turnover of BGN 50,000. It is not prohibited by law to register more than one company with the same founders, which is an official opportunity to not register a company for VAT when reaching a turnover of BGN 50,000.
It is mandatory to maintain accounting records and prepare an annual report.
choosing a country
choosing a bank
payment (by any method)
bank account opening
The most popular forms of ownership are LLC and EOOD.
VAT is payable at two rates: