Foreign citizens and enterprises can start businesses in Bulgaria under the same conditions as those applying to Bulgarian citizens and legal residents. The conditions are set in the Bulgarian Trade Act (TZ).
Rules for running a businessCompanies wishing to go public must meet the requirements of the Public Offering of Securities Act (ZPPTsK) regarding information disclosure and the submission of accounts. All entities licensed by the Financial Supervision Commission or which have obtained a trading permit under the Public Offering of Securities Act (ZPPTsK), the Financial Instrument Markets Act (ZPFI) or the Special Investment Companies Act (ZDSITs) are subject to specific requirements as regulated in these acts and in a number of Finanical Supervision Commission regulations.
You will also need to register any subsequent changes to the company, including if the company winds up.
Registration has two purposes:
- incorporation (officially incorporating the company);
- information (the registration details are made available to the public).
- Commercial Register
- Registry Agency
Mandatory registration – Any tax-liable person with a taxable turnover of BGN 50 000 or more within the last 12 consecutive months prior to the current month must apply for VAT registration within 14 days of the end of the tax period.
- when supplying goods for assembly and installation – any persons established in another Member State but not established in Bulgaria, and supplying taxable goods for assembly or installation in Bulgaria, at their own cost or benefit, where the recipient is not registered for VAT; no more than 7 days before the supply takes place.
- distance sales of goods – any tax-liable person who supplies goods in Bulgaria in the form of distance sales; no more than 7 days before the date of the taxable supply event, where the total distance sales amount for the current year exceeds BGN 70 000.
- intra-Community acquisitions (ICAs) – any legal entity not liable for tax or tax-liable person not registered on any other bases and conducts ICAs on goods where the taxable ICA total for the current calendar year exceeds BGN 20 000; no later than 7 days before the taxable supply event.
ICA registration – any tax-liable/non-tax-liable legal entity that does not meet the requirements for mandatory ICA registration is entitled under this law to opt into ICA registration.
Distance sales registration – any tax-liable persons may register under this law, regardless of the total amount of distance sales made, by informing the tax authorities of the Member State where they are registered for VAT purposes that they would like to register Bulgaria as the place where such sales are made.
Registration by the tax authorities – if any person fails to submit a tax registration application form on time, the tax authorities shall register them by issuing a registration order. The person then registers by submitting an application form to the relevant regional office of the National Revenue Agency.
Applications can be submitted online, in person, by a person with statutory representative powers, a person with authority under the articles of association, an accredited representative, or a person explicitly authorised by power of attorney in accordance with the Tax and Social Security Procedural Code (DOPK). The tax authority shall verify the validity of the application within 7 days, and issue a document allowing, or giving grounds for refusal, to carry out the registration.
VAT registration of foreign persons, who are not established in Bulgaria but make taxable supplies in Bulgaria. Foreign persons must be registered through an accredited agent (with the exception of branches of foreign persons; they register under the general procedure). Administrative procedures:
- Competent bodies - National Revenue Agency regional directorates on:
- Applicants/supplicants/liable persons- physical or legal persons;
- Necessary documents – VAT registration application;
- Fees – according to the provisions of Article 3(3) of the National Revenue Agency Act (ZNAP), the Agency shall not charge fees for issuing and formalising documents and certificates.
- National Revenue Agency
The Financial Supervision Commission issues licences or permits to operate as an investment agent, a management company, a special investment company, an investment company, to organise and manage mutual funds or to operate a regulated securities market. Permits.
The procedures for issuing permits and licences, and for approving prospectuses are set out in the the Public Offering of Securities Act (ZPPTsK), the Financial Instruments Markets Act (ZPFI) and the Special Investment Companies Act (ZDSITs).
Specific companies operating in the capital market have special legal requirements regarding their capital, organisation of their activities, management and internal control, and disclosing information to the public and the Financial Supervision Commission, and are also subject to special supervision under the Financial Supervision Commission Act (ZKFN).
- Financial Supervision Commission
In implementing the Directive, each Member State had to set up 'Points of Single Contact' (PSCs), online e-government portals that allow companies to carry out their administrative procedures online. PSCs provide comprehensive information on all administrative issues dealing with setting up or expanding service companies in any EU country. This includes, for example:
- Which licences, notifications or permits do I need to start a business in any EU country?
- What do I need to do when I want to offer my services abroad on a temporary basis?
- How do I apply for a licence? Which organisation is responsible for dealing with my application?
- Do I have to pay a fee? How long will it take to get my licence?
- What laws and regulations are applicable to my business sector?
- What do I need to do to set up, for instance, a restaurant or a shop? Or to work as a tour operator in another country without actually setting up a permanent office in that country?
- Where can I go for further advice and information?
All PSCs are part of the European network EUGO; you can easily get in contact with all PSCs in Europe via the main website Of course, PSCs are only just one of the options available to you. You can always contact the relevant authorities directly.
- EUGO Network
- Central Point of Single Contact in Bulgaria
- National Export Portal
- InvestBulgaria Agency
How to register company in bulgaria -
Source : http://europa.eu/