How can a foreign citizen register a company in Bulgaria?

After development of the legislation in the past few years, company registration by a foreigner in Bulgaria does not reveal any major differences with the registration by a Bulgarian citizen. However, there are a few details to keep in mind. Here’s a quick summary of what the procedure consists of.

The registration of a company, in general, involves the following tasks: signing certain documents, a visit to a notary public and a visit to a bank to deposit start-up capital. A visit to a notary public can be replaced with a visit to a Bulgarian diplomatic mission, and a visit to a bank can be made by your proxy, so it is not necessary to be physically present in Bulgaria.
1. We recommend that the set of documents is prepared with the assistance of a lawyer.
Some if the documents It will include are articles of associations, certain declarations required by law, a memorandum of incorporation documenting the key decisions concerning your new company – its name, its manager and more. The manager and the founder can be one and the same person. These documents may be bilingual, but they must have a Bulgarian version in order to be valid before the Bulgarian authorities.
2. Notary visit: One of the mandatory documents that you have to submit at registration is the notarized consent of the manager to manage the created company and a sample of his signature. This document is required to be notarized, but if you are not in the country, you can obtain such a service from your nearest Bulgarian diplomatic mission, wherever you are.
3. The start-up capital at which you start your business has a statutory minimum, depending on the type of company. But for the most frequently established companies – LTD.-s, this minimum is 2 BGN. The amount of the initial capital must be deposited into the founding account of the company, with the bank requiring certain documents in order to perform this action.
NB! Please note that in relation to anti-money laundering regulations, bank checks may take up to several weeks and may be accompanied by a fee of several hundred leva.
Once those tasks have been completed, the real registration with the Registry Agency follows. It can be done at the Register Agency office with original documents or online with scanned documents.
If you would like to know more about this procedure or wish to get assistance in its implementation, do not hesitate to contact us.