Why and How to Start a New Company in Bulgaria?

Bulgaria can be an ideal destination for foreign investors; Investors from different parts of the world tend to look for new business opportunities in various parts of the world. Bulgaria is a place that has immense scope to offer to new businesses. The key reasons include cheap, multilingual and skilled workforce, ease of availability of workforce, pro-investment economy and a simple taxation system. For people who wish to start a new company in Bulgaria, there are a few basic conditions that are not very difficult to meet; Once these are met, the company registration Bulgaria no longer seems a tough task.

Another advantage is that in Bulgaria, there is no as such restriction on the nationality of the investor; Rather, anyone can become a director or a shareholder in a company, without needing to worry about one’s nationality. Also, for an investor who wishes to set up a limited liability company, Bulgaria doesn’t keep a requirement for any start-up share capital, unlike as in other major countries of the world. In addition, the strategic location of Bulgaria allows investors to access the entire EU. The predictable and a stable Bulgarian government also act as an added advantage for the new business investors. The lowest operating cost and low set-up costs in the European market economy accounts for the keenness of more and more investors towards starting a business in Bulgaria.

To assist such new entrepreneurs, there are quite a few companies that offer a range of services related to company creation and registration in Bulgaria and much more. Some of the key services offered by any of these reliable companies include:

1. Assistance in drawing up the articles of association that are a pre-requisite for creating a company in Bulgaria; these need to be signed by an attorney;2. Assistance in preparing documents for company incorporation, inclusive of identification papers copies, specimen signatures, application form, etc;3. Assistance in setting up a bank account for the new company in Bulgaria;4. Accounting services, Taxation services and Payroll services for the new company that is being created;5. Many a times, such companies may also offer ready-made Bulgarian companies and VAT registration;6. Assistance in establishing a registered office in Bulgaria (on demand) that would serve as the headquarters for the company;

All an investor needs to do is to hire a reliable and proficient professional service (formation agent) in Bulgaria which could offer all assistance in setting up a new business. Most of these companies offer a monthly subscription services contract, and so, the investor needs to pay for the subscription as well as the registration fee.