Advocate Markov’s legal entity setup services, prominently featured on the Bulgarian Companies platform launched in 2014, have successfully incorporated thousands of entities. This achievement demonstrates our team’s profound grasp of each aspect of the Bulgarian Companies Act. Our aim is to simplify and optimize the process of business relocation and tax strategy in Bulgaria, providing our clients with top-tier services at competitive prices.

Bulgarian Company Formation Services

Our team, renowned for their expertise in Bulgarian corporate and tax law, is at the forefront of company formation in Bulgaria. Advocate Markov has earned commendations from esteemed legal guides such as Legal500 and GlobalLawExperts. While company setup is often seen as a routine administrative task involving standard document preparation, our approach goes beyond mere establishment. We don’t just set up your company in Bulgaria; we integrate and execute a tax strategy tailored to enhance your profitability. This holistic approach sets us apart, ensuring not just the formation of your company, but also the maximization of your business’s financial efficiency.

Assistance with Establishing Various Legal Entities in Bulgaria:

Our team specializes in facilitating the establishment of a wide range of legal entities in Bulgaria, including obtaining necessary licenses when required. Among these, the most commonly sought-after are the EOOD (with a single shareholder) and OOD (with multiple shareholders), which are standard limited companies.

We can guide you in setting up the following types of entities:

• Bulgarian EOOD Company: Ideal for sole proprietors, offering a straightforward structure.
• Bulgarian OOD Company: Suitable for businesses with multiple shareholders, providing a flexible framework.
• Bulgarian Branch Office: Perfect for foreign companies looking to establish a presence in Bulgaria.
• Bulgarian Trade Representative Office: Despite the term “trade” in its name, Trade Representative Offices in Bulgaria are not permitted to engage in direct economic activities within the country. The TRO is particularly advantageous for immigration purposes.
• Bulgarian Joint Stock Company: For larger ventures requiring a more complex structure with stock issuance.
• Bulgarian Holding Company: Ideal for managing investments and subsidiaries.
• Bulgarian Ready-made Company: A convenient option for those looking to expedite the setup process.
• Limited Partnership: Offers a blend of limited liability and partnership benefits.
• Bulgarian Foundation: Suitable for non-profit, cultural, educational, or philanthropic initiatives.

Each of these entities serves different business needs and complies with Bulgarian business regulations. We provide comprehensive assistance throughout the setup process, ensuring a smooth and compliant establishment of your business in Bulgaria.

Freelancers in Bulgaria

In certain scenarios, registering as a freelancer could be more advantageous than forming a limited company, especially considering the Bulgarian government allows for the deduction of expenses amounting to 25% of the company’s turnover. This can lead to significant tax benefits for individuals with lower business expenses.

Foreign Employers registration in Bulgaria

Conversely, there are situations where establishing a company may not be necessary. For instance, if your objective is to employ Bulgarian citizens, we can facilitate the registration of your foreign company as a Foreign Employer in Bulgaria. This approach bypasses the need for a separate Bulgarian company registration, streamlining the process of hiring staff based in Bulgaria.

New setups v Ready-made companies

Setting up new companies has become more time-consuming in recent years compared to the past. Establishing a simple limited company now involves comprehensive due diligence with banks. This process is necessary even before the official incorporation of the company, as an initial deposit account must be opened. The due diligence includes verifying the addresses of the company and its directors, checking bank registries and EU financial databases, and the need to appoint a contact person for situations where the bank is unable to reach the company’s primary contacts directly. These increased requirements have led to a surge in the popularity of ready-made companies.

Purchasing a ready-made company simplifies the process but does require the certification of a Power of Attorney. This can be done either at the nearest Bulgarian embassy or through a local notary in Bulgaria.

 

For comprehensive assistance in setting up a company in Bulgaria, including navigating the legal and bureaucratic landscape, feel free to reach out to us. We are committed to ensuring a smooth and efficient setup process for your business venture.