Opening and operating a company in Bulgaria

Hi guys,

I’m thinking to open a company in Bulgaria (for an Internet business, with international customers).

Are there DBL bros with experience in opening and operating a company in Bulgaria? Can you share your experience, notably when it comes to:

  1. The opening of the company (costs, delays)
  2. The accounting and regular paperwork (annual reports, how much costs etc)
  3. The banks (how easy to open an account as a foreigner, is the online banking any good, can you easily send and receive money internationally, do they provide multi currency accounts?)
  4. The payment processors (how easy to be approved and work with them?)

Thanks :slight_smile:

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I can only speak about my own experience. It took me a week to have an EOOD in Bulgaria, I needed a pro bank account in Bulgaria. To have a pro account in Bulgaria, you will need a long term residency bulgarian ID card and this is the most time consuming task (3 days at best if you know local people, at least 2 weeks if you have no good connexions). You can open an EOOD with 1 euro. Easy part.

I hired 1 local Bulgarian accountant, her cost is 600 levas every month and she manages all my invoices with suppliers and partners. If you do not know well the accountant he can leave with your money, be careful. She manages payment from the company owned by my girlfriend to my personal account as an employee (she manages income tax, social welfare costs,…). Annual balance sheet included.

Impossible to open a bank account without being present. They are very cautious of foreign ppl especially if you are a millionnaire… It took me two days because the banker was friend of my girlfriend mother and I had to give her a present of 100euros to speed up the process, if you have no connexion, it’s very difficult and it takes like 3 weeks.

I have 1 BG personal bank account in BGN I have 2 BG pro bank accounts, one in Eur and 1 in BG.

@OlivierG2 is a little expensive but peace of mind is priceless (especially if you earn big bucks and I remember you do)

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You can fin more informations on our website :

https://www.expatriationbulgarie.com/services-dexpatriation-bulgarie

We have the network to do everything quickly. Contact @MelliCapensis on Telegram

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Thanks for sharing @Jules-Bulgarie-g5. Tricky but doable. I have a company in the Philippines where it’s also corrupt as fuck, so some level of corruption does not scare me :joy:

Is there a minimum amount of time to spend in Bulgaria every year in order to maintain the Bulgarian ID card? I’m a nomad and I don’t see myself living in Sofia all year round.

100% agreed, life is too short to waste my time with the administration.

Perfect, will contact you soon.

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