We can make your life easier! You can focus on what you like doing most, whilst we take care of your needs and deal with the bureaucracy and authorities on your behalf. We take care of the administrative work and free up space and time for you. Your benefits are fast processing times, transparent pricing, clear explanation and upfront information to know everything that is needed to either get Residency, apply for Tax-Residency, and/or to start and run a business lawfully in Bulgaria. As your partner we make sure you get all the information you need and provide clear advice for lawful business operations and advice you on tax situation that respects the European laws and protects you from expensive future surprises. Our goal is to provide a service that helps you to accomplish your goals fast, with the least amount of your time and effort in an affordable way.
If you want to apply for residency you will need to come to Bulgaria.
For company formation we offer a remote formation service, please contact us and we will provide an offer specifically for remote formation.
Once you are in Bulgaria we offer Power of Attorneys to register as freelancer or establish the company on your behalf. This limits your time you need to spend in Bulgaria during the initial process phase. We recommend to stay in Bulgaria for one week up to ten days.
Residency application will be done in Bulgaria (the town of Blagoevgrad). The timeframe of the
residency process is three business days and includes following steps.
1. Check and assistance with prerequisites for application (see below)
2. Fill application forms and notarization of documents
3. Taking photo for ID card.
4. Collecting ID card
The prerequisites for Residency Service are:
a) Proof of address (rental agreement, or deeds of ownership)
b) Copy of debit/credit card or personal Bank account
c) Valid EU Health insurance card or local private insurance
d) Valid EU Passport or ID Card (at least one year or longer)
As an EU citizen you can directly apply for residency in Bulgaria (see below for Residency for non-EU citizens). The entire Residency Services takes three business days in total. Our residency services is one of the fastest and it only takes a few hours off your time! We help you and guide you through the entire process. Together we visit the authorities, explain you the process, translate and fill the forms for you. Our services are transparent and we will explain all the steps involved and clarify the requirements and legal aspects of the process in detail.
You will get your Residency ID Card three days after the application has been filed. To your convenience we offer to collect your card and send it via courier service to you. Fill the contact form and we will answer further questions directly. Jump to the contact form and send us your inquiry.
Non-EU citizen have many different options how to get residency in Bulgaria. We are experienced with Trade Representative Office and can help you to get residency in Bulgaria. Get in touch with us to learn more about the options for non-EU citizens.
Yes, we offer remote business formation services, there is no online registration process yet. This service affords more paperwork and comes with some extra steps. We are very experienced to establish companies remotely and know the bits and pieces for a smooth and successful business incorporation. Make sure to book a refundable counselling call to get all the information upfront!
In order to start a freelance business it is required to have a valid Bulgarian Residency card and a prove or diploma to work in this field.
Prerequisites for Freelance Business:
a) Valid Bulgarian Residency Card
b) School or apprenticeship diploma, alternative a course certificate to work in this field.
c) Valid Passport
d) Address in Bulgaria to open a bank account
Note: A freelance business is not a legal entity in itself, the physical person behind the freelance business is the legal entity and therefore has 100% liability.
The majority of our clients are digital nomads, location independent people or people who travel. We can assist remotely and take care of business maters whilst you are traveling. You can opt for a digi-sign (Digital Signature USB-Stick) to sign papers remotely. This will allow you to amend, change and do all the business tasks remotely from anywhere in the world where you’ll have access to the internet.
For the company formation you do not need residency in Bulgaria. The timeframe of opening a company is around 5 business days and for VAT registration about 10 business days (VAT registration may be necessary). We offer remote business formation and can guide you though the process (remote formation requires additional paperwork and service, please ask specifically for remote formation).
Prerequisites for Company Formation:
a) Company Capital (min. 2 BGN)
b) Opening a Company Capital Bank Account (bank fees are not included in our pricing)
c) Valid Passport
d) You will need to provide an address if you reside outside of Bulgaria.
f) European bank account.
More questions? Please request further information or book a consulting call.
The minimal start-up capital is only 2 BGN (around 1EUR). We recommend a company capital of either 100 BGN for single owner business, or 200 BGN for multiple owners/shareholders.
Bank fees to open a capital account for foreigners are currently at 120 BGN (this depends on the bank branch and the banks).
Note: The company capital is tied to the amount of shares, e.g. 100 BGN capital = 100% of company shares, versus 200 BGN = 100% of shares (privately owned companies). If you want to sell 2,5% of your company you will need to have at least 200 BGN company capital to sell increments of 0,5%. The company capital can be decreased or increased as needed whilst the business is running.
Bulgaria is in the lead when it comes to corporate tax rates within the EU, namely: 10% flat income (profit) tax. Bulgaria has also signed about 70 double tax treaties (e.g. US, Europe, etc.).
Dividend payouts are taxed with 5% on the amount payed to the shareholders. The dividend tax is due on the date you receive the dividend payment. Usually dividends are payed quarterly.
No, you do not need a Bulgarian bank account. You can use alternative banking options and or any other European bank account to operate your company or freelance business. We will help you to choose and share our experience with you.
No, E-Residency is not offered in Bulgaria. We can help you with residency services but you will need to apply for residency from within Bulgaria.
Bulgaria is generally considered as a safe country, has a low crime rate and is a stable and democratic country and part of the European Union. Bulgaria is safe to travel and recommended by women traveler’s.
As a Non-Schengen country, Bulgaria is fully part of the EU, WTO and NATO with the second lowest government debt within the EU.
Please check our pricing page for details. Bulgaria has very low business costs, one of the lowest within the EU. Bulgaria is a very affordable country for establishing and conducting business and offers a lot of value in addition to the lowest tax rate in EU.
The financial risk is rather minimal. The Bulgarian lev (BGN) is fixed to the EUR (1 EUR = 1.9558 BGN). Banking is possible in euros/dollars/pounds. You will find that all the major banks in Bulgaria provide English E-banking, mobile apps and support service.
To incorporate a business it takes about 5-10 business days. Typically we can register a business within a week. VAT registration takes around 10 business days (depends on the amount of requests) and will be started after the business is incorporated.
The burn-rate is very low, the incorporation of a business is very affordable and comparatively easy, it is a great and affordable place to live and travel from/to. Monthly rents can be as low as 200 Euros.
There are plenty of opportunities to get EU-funding for your projects in Bulgaria. Government policy is also focused on building a favorable business climate for foreign investors. There are great expat / digital nomad community in many different cities in Bulgaria where you will find likeminded business focused international people and social events.
Residency will allow you to reside in Bulgaria, enter Bulgaria and start a business in Bulgaria. In case of travel restrictions you will be allowed to enter Bulgaria as you own the titles to live in the country of residence.
Tax-Residency on the other hand will allow you to cut ties from previous countries (e.g. if you move from Germany to Bulgaria). The official Tax-Residency-Certificate declares that you are paying your taxes in this country and will allow you to move to any other country without having to worry about back-taxes or other financial implications on a later stage. You can apply for a Tax-Residency-Certificate after six months of the incorporation date of your business.