Bulgaria (BG)
Bulgaria is the oldest state in Europe (founded 681 AD), a member of the European Union since 2007, and one of the most affordable countries for expats in the EU.
Capital: Sofia
Region: Europe
Language: Bulgarian
Currency: BGN (лв)
Cost of living: Very affordable (index 37)
Emergency: 112
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Business Setup
Start a business or go freelance in Bulgaria.
🧑💻 Freelancer / Self-Employed Guide
Steps to register:
- 1 1. Choose your structure: Most expat freelancers establish an EOOD (single-member LLC). This provides limited liability, professional credibility, and access to the 10% corporate tax rate.
- 2 2. Register the EOOD at the Bulgarian Registry Agency (Агенция по вписванията — BRRA) online at portal.registryagency.bg. Requires notarised articles of association and a registered Bulgarian address.
- 3 3. Register with the National Revenue Agency (НАП) within 7 days of company registration. Obtain a BULSTAT/UIC (ЕИК) — your company's tax identification number.
- 4 4. Open a company bank account (required — company funds must be separate from personal). Most banks require company documents and owner's ID.
- 5 5. Register for VAT (ДДС — данък добавена стойност) if expected annual turnover exceeds 166,000 BGN, or voluntarily if providing B2B services to EU VAT-registered companies.
- 6 6. Set up accounting: hire a Bulgarian accountant (счетоводител) — strongly recommended for navigating the Bulgarian tax system. Monthly accounting cost: 100–300 BGN/month.
- 7 7. Pay quarterly corporate tax advance payments (авансови вноски) and file annual corporate tax return by 31 March of the following year.
- 8 8. Social insurance: As a company director, pay yourself at least the minimum insurable income (minimum wage of 1,077 BGN/month in 2026) and pay all social contributions on that amount.
Tax registration
National Revenue Agency (НАП) — register at nra.bg or in person at the NRA office in your municipality. Within 7 days of company registration at BRRA.
VAT threshold
166,000 BGN annual turnover for mandatory VAT registration. Voluntary registration available — recommended for B2B services to EU companies (allows zero-rating of EU supplies and VAT recovery on costs).
Invoicing
Invoices must include: company name and address, BULSTAT/EIK number, VAT number (if VAT registered), invoice number and date, client's name and address (and VAT number for B2B), description of goods/services, unit price, total excluding VAT, VAT amount, total including VAT, bank account details (IBAN). All invoices must be in Bulgarian or bilingual.
Social security
As a self-insured person (самоосигуряващо се лице), you must pay your own social contributions monthly. As a company director, the minimum is based on minimum insurable income (1,077 BGN in 2026). Full social contributions: ~32.7% total (employer + employee share combined). Health insurance (8% for self-insured). Pension insurance (17.8%+ depending on birth year).
💡 Bulgaria's EOOD is the go-to structure for international entrepreneurs. The 10% corporate tax (10% flat) combined with relatively low social contributions on minimum salary makes it one of the most tax-efficient legal setups in the EU. Dividends are taxed at 5%. However, the Bulgarian bureaucracy is primarily in Bulgarian — a local accountant and lawyer are essential. The entire process can be done remotely with a power of attorney.
🏢 Business Structures
ЕТ · Едноличен търговец (ET)
Sole Trader
None
Min. capital
1–3 days (online at BRRA)
Setup time
Liability: Unlimited personal liability
Setup cost: State fee: 30 BGN. Registration in Commercial Register.
Best for: Small traders, tradespeople, market vendors. Note: you are personally liable for all debts. ETs are taxed at 15% on profit (after 60% expense deduction), not the standard 10% flat income tax.
ЕООД · Еднолично дружество с ограничена отговорност (EOOD)
Single-Member Limited Liability Company (LLC)
2 BGN minimum (effectively 1 BGN per share)
Min. capital
3–7 working days via BRRA (Агенция по вписванията)
Setup time
Liability: Limited to company assets
Setup cost: 160 BGN state fee + notary fees (~150–400 BGN). Total: ~400–700 BGN.
Best for: Most popular structure for expat entrepreneurs, freelancers, and small businesses. Excellent for digital nomads who want a Bulgarian company. Low corporate tax (10%), simple administration.
ООД · Дружество с ограничена отговорност (OOD)
Multi-Member Limited Liability Company
2 BGN minimum
Min. capital
3–7 working days
Setup time
Liability: Limited to company assets
Setup cost: 160 BGN state fee + notary fees. Total: ~500–800 BGN.
Best for: Partnerships and companies with multiple shareholders. Most common structure for established Bulgarian businesses.
АД · Акционерно дружество (AD)
Joint Stock Company (JSC / PLC equivalent)
50,000 BGN
Min. capital
2–4 weeks
Setup time
Liability: Limited to company assets
Setup cost: BGN 1,000–3,000+ (notary fees, BRRA registration, share registry) + BGN 50,000 minimum capital
Best for: Large companies, companies seeking external investment, companies planning public listing.
СД · Събирателно дружество (SD)
General Partnership
None
Min. capital
3–5 working days
Setup time
Liability: Unlimited joint and several liability
Setup cost: 70 BGN state fee
Best for: Small partnerships between trusted individuals. Rarely used due to unlimited liability.
КД · Командитно дружество (KD)
Limited Partnership
None
Min. capital
3–5 working days
Setup time
Liability: General partners: unlimited. Limited partners: limited to contribution.
Setup cost: 80 BGN state fee
Best for: Investment structures with active and passive partners. Uncommon.
Business Setup
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