Frequently Asked Questions

Most of it — but not all. We start with an online consultation, followed by a single visit to Bulgaria for notarisation and bank onboarding. We do not promote fully remote setups: proper identification and AML/KYC procedures protect both you and your company.

About 2–3 business days after all required documents have been prepared and submitted.

We prepare the required documentation, facilitate the introduction to the bank, and coordinate the onboarding process. Final approval and account opening are always at the bank’s discretion.

Company incorporation assistance is charged as a one-time fee, while accounting services are provided for a fixed monthly fee. All fees are quoted in writing in advance. Any services outside the agreed scope are confirmed with you before we proceed.

That depends on business substance, not registration documents alone. We advise you on the appropriate structure and compliance requirements — and give you a clear assessment of whether Bulgaria is the right fit for your business.

No. A Bulgarian limited company may be established by one or more owners and managed by one or more directors. The minimum requirement is one person, who may act as both the sole owner and the director, with no restriction on that person being a foreign national.

One visit to Bulgaria is required for the company formation process and bank account opening. After registration, no further residence or travel requirements apply unless your business activities require your presence.

For most small and medium-sized businesses, the most suitable structure is a limited liability company – Ltd (OOD or EOOD). The minimum required capital in Bulgaria is €1.

Other legal forms, including branches and representative offices, may be appropriate in specific cases. We assess your business needs and recommend the appropriate legal structure during the initial consultation.

Our Legal Department prepares all required incorporation documents and submits the application to the Bulgarian Commercial Register. The registration itself is completed by the Registry Agency.

We also assist with a registered office, bank introduction, Certificate of Good Standing, VAT and EORI registration, as well as all other practical steps required to make your company fully operational and ready to do business in Bulgaria.

Once the company is registered with the assistance of our Legal Department, our accounting team can take over its ongoing accounting and tax compliance in Bulgaria.

A Bulgarian company supplying services to VAT-registered businesses in other EU countries must register for VAT before making its first such supply. For services and goods sold to customers outside the EU, the VAT treatment depends on the transaction and the customer’s location.

Online stores selling to EU consumers may also need OSS registration once cross-border B2C sales exceed the EU-wide €10,000 threshold. We assess your business model and arrange the appropriate VAT and OSS registrations from the outset.

Yes. We assist EU citizens with registering as freelancers in Bulgaria, including obtaining the required residence and tax identification, social security registration, a registered address, and a bank introduction.

Depending on the individual’s circumstances, the overall effective tax burden may be approximately 7.5%.

Your presence in Bulgaria is required for approximately 2–3 business days.

We provide comprehensive accounting and tax compliance services for Bulgarian companies, including bookkeeping, VAT reporting, corporate tax compliance, annual financial statements, statutory reporting, and communication with the Bulgarian tax authorities. Depending on your business needs, we also provide management reporting and ongoing accounting support in English.

Our monthly fee depends on the volume of transactions, the number of employees, VAT registration requirements, and the complexity of your business. Once we receive some basic information about your activity, we will provide a clear, tailored quotation with no hidden costs.

You will normally need to provide issued and received invoices, bank statements, expense documents, contracts, and other records relating to your company’s activities. Where payroll services are included, you should also provide information about working hours, leave, sick leave, bonuses, new employees, and employment terminations.

Yes. Most documents can be shared electronically via email, secure cloud storage, or another agreed document-sharing platform, making it easy to manage your accounting from anywhere in the world.

Yes. Supporting international businesses is one of our core areas of expertise. We work with Bulgarian companies owned or managed by individuals and businesses from more than 50 countries.

Yes. Even dormant or inactive companies may still have annual accounting, tax, and reporting obligations under Bulgarian law. We help ensure these requirements are met on time.

Yes. We can coordinate the transition, review your existing accounting records, and provide a clear list of the documents and information required from your previous accountant. Our goal is to make the handover as smooth as possible with minimal disruption to your business.

Yes. Subject to the appropriate authorization, we can prepare and submit tax returns, provide supporting documentation, communicate with the National Revenue Agency, and represent your company during tax inspections, reviews, and other administrative procedures.

Yes. We can review your current accounting records, identify missing or incorrect entries, and prepare a separate proposal for bringing the accounting fully up to date and into compliance.

Yes. Many of our clients are international businesses, so management reports and ongoing communication can be provided in English, depending on the agreed accounting package and reporting requirements. Where payroll services are included, payroll reports can also be provided in English.

Yes. We provide professional consultations on Bulgarian accounting, corporate taxation, VAT, payroll, and the tax treatment of specific business transactions. Our advice is tailored to your business model and commercial objectives.

Yes. An initial consultation helps you choose the most appropriate business structure and understand the accounting, tax, VAT, payroll, and compliance obligations before you establish your business in Bulgaria.

Yes. We review your planned business activities, transaction flows, customers, suppliers, and target markets to explain the applicable Bulgarian tax and accounting treatment and identify any practical compliance considerations before your business begins operating.

Yes. We advise international businesses on cross-border transactions, withholding tax, double tax treaties, permanent establishment risks, and other international tax matters involving Bulgaria.

Yes. We recommend reviewing the VAT treatment before completing significant transactions. We can advise on VAT registration, invoicing, place-of-supply rules, VIES, OSS, and the applicable reporting requirements to help avoid unnecessary tax risks.

Yes. We review your personal circumstances, explain the Bulgarian tax residency rules, and assess the possible application of the relevant double tax treaty where appropriate.

No. Bulgarian tax residency rules generally apply regardless of citizenship. However, EU citizens and third-country nationals are subject to different immigration and residence procedures before they may establish legal residence in Bulgaria.

Yes. An EU citizen may become a Bulgarian tax resident if the applicable Bulgarian tax residency criteria are met.

Yes. A third-country national may become a Bulgarian tax resident after establishing a valid basis for legal residence in Bulgaria and meeting the applicable Bulgarian tax residency criteria.

Depending on the individual’s circumstances, residence options may include a trade representation office, property investment, digital nomad status, pension income, business activity, an EU Blue Card, or a single residence and work permit.

Yes. A digital nomad may become a Bulgarian tax resident if the applicable Bulgarian tax residency criteria are met, including the duration of stay and the location of the individual’s centre of vital interests.

In general, Bulgarian tax residents are subject to Bulgarian taxation on income from both Bulgarian and foreign sources, subject to any applicable exemptions and relief available under applicable double tax treaties.

This depends on your tax residency status, the type of income you receive, any applicable exemptions, and whether tax has already been withheld. We can review your individual circumstances and confirm your filing obligations.

Yes. We assist with the immigration process and separately assess the resulting personal tax, social security, and reporting obligations to ensure your structure remains fully compliant.

Yes. We assist with the entire liquidation process, including the preparation of the required corporate documents, coordination of the legal, accounting, tax, and Commercial Register procedures, and guidance through each stage until the liquidation is completed.

Yes. An inactive company can be liquidated. Before the procedure begins, its accounting, tax, and statutory reporting obligations should be reviewed and, where necessary, brought fully up to date.

The liquidation procedure generally takes up to 9 months, as Bulgarian law requires a statutory period during which creditors may submit claims before the company can be finally deleted from the Bulgarian Commercial Register.

In many cases, the procedure can be completed remotely using properly prepared and notarised documents. Depending on the circumstances, personal attendance may still be required for certain steps.

Depending on the circumstances, the service may include:

• preparation of the required corporate documents;
• appointment of a liquidator;
• Commercial Register filings;
• notifications to the competent authorities;
• accounting and tax closure;
• preparation of the final liquidation documentation; and
• deletion of the company from the Bulgarian Commercial Register.

The liquidator is appointed by the company’s owner or shareholders and is responsible for settling the company’s affairs, collecting receivables, paying liabilities, distributing the remaining assets where applicable, and representing the company throughout the liquidation procedure.

Yes. In many cases, the current director or shareholder may also be appointed as liquidator, provided that the applicable legal requirements are met.

Yes. The company continues to have accounting, tax, and statutory reporting obligations until it is formally deleted from the Bulgarian Commercial Register.

Outstanding liabilities must first be identified and addressed as part of the liquidation process. Where the company is unable to satisfy its obligations, another legal procedure, such as insolvency, may be more appropriate.

The bank account is generally maintained during the liquidation process to allow outstanding payments, liabilities, and any final distributions to be completed. It is normally closed before the liquidation is finalised.

Once all liabilities, taxes, and liquidation expenses have been settled, any remaining assets may be distributed to the shareholders in accordance with the applicable legal requirements.

Generally, no. During liquidation, the company should carry out only those activities necessary to complete existing obligations, realise its assets where appropriate, and bring its affairs to an orderly conclusion. It should not undertake new business activities unrelated to the liquidation.

A company is officially closed only after the liquidation has been completed and it has been deleted from the Bulgarian Commercial Register.

Yes. Before the liquidation begins, we can review the company’s corporate, accounting, and tax status and identify any outstanding filings, liabilities, compliance issues, or missing documents that should be resolved first.

Yes. We regularly assist international clients with the liquidation of Bulgarian companies. Most of the procedure can usually be completed remotely, depending on the specific circumstances.