At a glance
- Total time
- About a week
- Official fees
- About €28 online, capital from €1
- Where
- Registry Agency
- Bulgarian needed?
- Documents in Bulgarian
An EOOD is a Bulgarian limited company with one owner. It is the most common company for expats, and you can set one up in about a week. Foreigners, including non-EU citizens, can own one. This guide covers the steps and costs. If you are still deciding whether you need a company at all, read sole trader or EOOD? first.
What you need
- A company name that isn’t already taken. You can reserve it with the Registry Agency.
- A registered address in Bulgaria. Many accountants offer one.
- A manager. As the only owner, this is usually you.
- Share capital of at least €1. Since the euro, this replaced the old minimum of 2 leva.
Step by step
- Prepare the founding documents: the founding act (the company’s rules), the manager’s consent and specimen signature, and declarations. Signatures on some of these must be notarised.
- Deposit the capital in a bank account opened for the company being formed, and get a certificate from the bank.
- File with the Commercial Register at the Registry Agency, using application form A4. Filing online with a qualified electronic signature costs about half the paper fee.
- Get your company number (UIC/EIK). Registration usually takes a few working days. The UIC is also the company’s tax number.
- After registration: open the company’s current account, hire an accountant, register for VAT if needed, and register any employment contracts with NAP.
Costs
| Cost | Roughly |
|---|---|
| Registration fee, online | About €28 (about double on paper) |
| Notary fees | Small fees per notarised signature |
| Share capital | From €1 |
| Lawyer or accountant to set it up | Agreed in advance |
| Accountant every month | Agreed in advance. Required for annual accounts |
Doing it from abroad
You can set up an EOOD without coming to Bulgaria by giving a lawyer a notarised and apostilled power of attorney. Opening the company bank account is usually the hardest part remotely, because banks want to meet the owner. See our bank account guide.
Your yearly duties
- Annual financial statements, published in the Commercial Register.
- A corporate tax return. Corporate tax is 10%, and dividends paid to you are taxed at 5%.
- Social security contributions for you as manager, if you take a salary or manage the company.
A company does not give a non-EU owner the right to live in Bulgaria, unless it employs at least 10 Bulgarian citizens. See our residence guide.
Sources
General information, not legal advice. Check the current state fee on the Registry Agency website, and use an accountant from day one.