How do I register a company in Bulgaria?

Bulgaria offers one of the most straightforward and cost-effective company registration processes in the EU. The two most common legal forms for foreign entrepreneurs are the OOD (Drujestvo s ogranichena otgovornost, equivalent to a UK Ltd or German GmbH) and the EOOD (Ednolichno OOD, a single-member OOD). Both offer limited liability and are taxed at the 10% flat corporate income tax rate.

OOD vs EOOD: which to choose?

The EOOD is the most popular choice for solo founders. It has one owner (the sole member) who controls the company entirely. There is no difference in taxation between an OOD and an EOOD. The EOOD becomes an OOD simply by adding a second shareholder, so you can always scale up the ownership structure later.

The OOD suits two or more founders sharing ownership. A written articles of association (ustav) governs the relationship between shareholders, profit distribution, and decision-making.

Minimum capital: BGN 2

The minimum share capital for both an OOD and an EOOD is BGN 2 (approximately EUR 1). This is among the lowest in Europe and makes capital requirements essentially non-existent. In practice, most companies register with BGN 2 to BGN 5,000 depending on the intended activities and any licensing requirements.

At least half of the share capital must be paid up at registration. For BGN 2, that means BGN 1 must be deposited in the company's opening bank account.

Step-by-step registration process

Step 1: Choose a unique company name. You can verify name availability on brra.bg before submitting. The name must include the legal form identifier (OOD or EOOD).

Step 2: Prepare the founding documents. For an EOOD, this is a Declaration of Establishment (Akt za uchredyavane) listing the company name, registered address, activity description, share capital, and the manager's details. For an OOD, an Articles of Association (Ustav) signed by all shareholders is required. These documents must be notarised by a Bulgarian notary.

Step 3: Open a temporary company bank account and deposit the initial capital. Most Bulgarian banks (UniCredit Bulbank, DSK Bank, First Investment Bank, Postbank) offer this service. The bank issues a certificate confirming the deposit, which is needed for registration.

Step 4: Submit the registration application to the BRRA via brra.bg. You can submit online using a Bulgarian qualified electronic signature (QES), or through a licensed lawyer or notary who holds their own QES. The application package includes the founding document, bank deposit certificate, manager consent declaration, specimen signature, and application form A4.

Step 5: Pay the state registration fee. The fee for BRRA registration is BGN 50 for online submission (reduced from BGN 100 for paper). Additional fees apply if you simultaneously register for VAT or other registers.

Step 6: BRRA reviews and approves the application within 3 to 7 working days. On approval, the company is issued a unique 9-digit BULSTAT/UIC (Unified Identification Code) number. This is the company's permanent identifier, used for tax registration, VAT, banking, and contracting.

After registration: immediate next steps

Once you have the BULSTAT/UIC, you must register the company with the National Revenue Agency (NRA) for corporate income tax. This happens automatically upon BRRA registration in most cases. You must also register separately for VAT if your turnover exceeds BGN 100,000 per year, or if you choose voluntary VAT registration.

If the company employs people or the director takes a salary, you must register for NSSI (National Social Security Institute) purposes.

You will need a permanent company bank account (separate from the opening capital account) for ongoing operations.

Can a foreign national register a Bulgarian company?

Yes. Non-Bulgarian nationals can own and manage Bulgarian companies. If you are not an EU/EEA citizen, you may need a Bulgarian residence permit or a Power of Attorney to a Bulgarian representative to complete the notarised steps. EU/EEA citizens generally need only a valid passport or ID.

Using a formation agent or lawyer

Many foreign entrepreneurs use a Bulgarian formation agent or corporate lawyer to handle the registration. Typical fees range from BGN 300 to BGN 1,500 depending on the complexity. This is often worthwhile to ensure documents are correctly notarised and submitted, particularly if you do not speak Bulgarian. The entire process can be completed remotely with a Power of Attorney.