Limited Companies

To set up a new limited company or a joint stock company in Bulgaria, you must open a deposit account with a Bulgarian-based bank. Even if your company capital is just 1 EUR, you are required to deposit this amount into the bank account before your Bulgarian company can be officially incorporated. Banking in Bulgaria has become as stringent as in Western EU member states, making the process potentially difficult, lengthy, and costly. Banks may charge between 200 EUR and 500 EUR to consider your deposit account opening application. This fee does not guarantee the opening of your account but merely covers the consideration process. To bypass these formalities, Advocate Markov can assist you with newly incorporated ready-made companies.

Furthermore, banks may require you to present your Bulgarian residency card when considering your application. This residency card is crucial if you plan to apply for Bulgarian tax residency. However, if you do not need tax residency, the residency card may be unnecessary.

Ready-Made Companies

Although the price of a ready-made company may be slightly higher than setting up a new limited company, it often proves to be more cost-effective and flexible in the long run. A ready-made company eliminates the need for bank fees associated with opening a deposit account, reduces waiting times, and avoids mandatory in-person applications. Additionally, you can purchase a Bulgarian ready-made company entirely remotely by certifying a Power of Attorney with the nearest Bulgarian embassy or general consulate.

Risks Associated with Ready-Made Companies

While there is a potential risk that ready-made companies might have negative financial histories, our ready-made companies are newly incorporated. In most cases, you will be purchasing a ready-made company that was incorporated just a week or two ago, minimizing any risk.

Joint-Stock Companies

Similar to limited companies, joint-stock companies also require the opening of a deposit bank account. Ready-made joint-stock companies are also available. It is important to note that setting up a joint-stock company requires a minimum founding capital of 25,000 EUR, compared to just 1 EUR for a limited company. However, 75% of this capital can be deferred for later payment.

Foundations

Foundations in Bulgaria are another type of legal entity that can be established for charitable, educational, or other non-profit purposes. Advocate Markov can assist with setting up foundations, ensuring compliance with Bulgarian laws and regulations, plus tax optimization.

Funds

Investment funds are legal entities designed for managing pooled investment assets. The Funds can be structured as standard limited companies or more complex Joint Stock companies. Advocate Markov’s team can help establish various types of funds, ensuring they meet regulatory requirements and are structured to achieve your investment goals.

By leveraging our expertise, we ensure a smooth and efficient process for setting up your desired legal entity in Bulgaria, tailored to your specific needs and objectives.