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Business in Bulgaria - How do you start?

Dear friends,

Recently there are many companies seeking the low salaries in Bulgaria, to better the economy in there respective company or to settle and work 100% from Bulgaria. Why?

To compete in prices it is necessary to find a place and qualified workers that can give you this, and Bulgaria has this potential with its low cost of living, low salaries, low rents, and low taxing.

If you would like to know more on how to establish in Bulgaria, give me a short description of your interest and we provide you with information on how to do it.

Best regards,

Antonio Forteza

Hola Tonifs:
Verás , me voy en un mes más o menos a 15km de Varna ( Priseltsi)
Me gustaría que me dieras tu opinión sobre Varna, el clima ,tu adaptación ,,no sé un poco de todo!! Ando un poco perdida con el idioma ..leo el cirílico aunque no entiendo casi nada jajaja.
Dime algo porfa.
Nos vemos en Varna!!

Anche, could you please post in English on the english version of the forum ?

The spanish version esta aqui http://www.expat.com/forum/viewforum.php?id=2277

hello i am saravanan from india ,, i am planning to come to sofia and open a small restaurant or cafe or some grocery stores and i thought you could help with some ideas..is it possible for an indian to open a cafe in sofia ? is there any regulations ,, awaiting for a reply from you ...

Hello Saravanan,

Yes, there are regulation and you will need to send a mail to the foreign Minister and ask in your case. But it should not be difficult.

Sofia is not under my know-how, but it is a good idea to start there as business works all year round. Be careful and look the papers for rental or sales prices. You will also need a permit from health ministry. Normally they will call you and you go and pick them up and drive them back to the ministry.

Good luck and when you arrive please get in contact.

If we are to do anything for you, the price is between Euro 2.500 and Euro 2.700.

Antonio

It is easiest to get a company to set up a company for you.  It usually costs approx 500 BGN in total including all the BG institutions' taxes.  To set up a LTD company I believe the liability has recently been lowered to 2 BGN from 5,000, meaning you need very little capital to complete the formalities.

Some companies that will reg a company for you include;
registracia-na-firma.com
smallbusiness.bg/registracija-na-firmi
registracianafirma.eu
registracianafirma.web.officelive.com

Send them an email, see what they say.  You owe me a banana roti! :)

@ Snowboard ..

        thank u so much for the information mate , will check to this and will keep in touch with u ,, cheers and thanks a lot once again :))

Hi


I am Canadian citizen, I would like to run food business in Bulgaria. Please let me know how I will do it.
Thanks.
Azhar

Basically,
You will need 2 thigs to start with - set up a company and get a residency or a work permit.

What I recommend is to visit the country for a week, establish a company, hire some property if you need this and find good partners.

No e-mails to the foreign Minister !!!! This is the funniest thing I've heard of :D:D:D:D

sir ,
    I want to establish a fast afood  buisness in Sofia . Kindly guide me ..
thanks
Varinder

Hello dear. For starters invest in below market value property! This is a good start to a successful business in Bulgaria.

Business en Bulgaria

1.Cost of setting up a company in Bulgaria -around 400-700Euros. Registration process about 2-3 weeks. To register limited liability company have to open a bank account in local bank and deposit capital of 1Euro min. The tax of banks to opening account is around 20-40EUR

2.Cost of translations services in Bulgaria -around 5-15Euro per page. The only language accepted by All institutions is Bulgaria.

3.VAT registration in Bulgaria

The VAT registration in Bulgaria is not mandatory. Companies have to make obligatory VAT registration when a turnover greater than 50 000BGL /25 564EUR/ .The registration process takes not more then 30days and cost around 150E /accounting fee/

There are different presents of VAT: 20%, 7% , 0% and free shipping

4.Cost of accounting services in Bulgaria

Depends on the number of documents and employees. The fee of Accounting companies start from 50E per months for companies whit no activity or  for company whit 20 documents per months and one employees you will have fee about 100E   
All companies have to file an annual tax return  whether they had activity during the year or not.

5.Taxes
Corporate tax on the annual tax profit
The tax rate for the corporate tax is 10%
Who pays corporate tax:
The entities liable to pay corporate tax are:
*The local legal entities trade companies;
*The local legal entities that are not traders-for their profit from transactions under Article 1 of the commercial Act, as well as from leasing of movable and unmovable property;
*Thr local unincorporated entities and the insurance funds established pursuant to Article 8 of the Social Security code;
*The foreign legal entities that carry out economic activity in the country from a permanent establishment;
*The foreign unincorporated entities that carry out economic activity in the country from a permanent establishment.
Personal income tax
Annual taxation and declaring income received in 2013
Subject to tax on the common annual tax base is the income of indivuduals recived from:
    employment relations -10%
    economic activity different from the economic activity as sole proprietor and from other economic activity
    renting or other leasing of rights or property for consideration
    assignment of rights or property
    other sources;
The tax on the common annual tax base shall be assessed my multiplying the common annual tax base by 10% tax rate.
The income from economic activity as a sole proprietor and the income from other economic activity as perart.29 a of the PITA shall be levied with tax on the annual tax base at 15% tax rate.
The Bulgarian economy is working under currency board 1 BGN= 1.95583Euro which contributes to the stability and reduce the risk.


For more information and details please contact to me : xxx

Thank you for the information Ivanka Petkova! :)


Regards,
Pravin

i, zeeshan like to start business in bulgaria and i have need information about business required documents and how much amount should be to start business in bulgaria.if u give that information i will thankful to you. zeeshan javaid

Ltd incorporation cost is average 250-300 eur. Accountant takes around 50 eur Monty.
All procedure takes up to 1 week.

Good luck!

Hi Antonio

We have a small vineyard of around 20 acres and would like to produce specialist "Boutique" wines but i assume we would need to go through the import export assault course for alcohol how do we go about this...

thanks Neil

Hola,
Varna es bonita, pero me gusta Burgas mucho mejor como citisen.
En cuanto a la langage, es más fácil que español,
Hay que leerlo ver lento en el comienzo, y prestar atención a la gramática, etc,
Lo que ves es lo que se lee.
Tómese su tiempo!
Buena dia!

Hi svetlanik,

Can you please post in English only on the Anglophone forum, this might help other members to read and to participate on this thread. :)

Thank you,

David.

Sure, but you are not in Bulgaria, you do not know anything about Bulgaria, and you can not find me a job in Bulgaria, and that is what I was looking for is a job in Bulgaria as a security officer in Bulgaria.
So... can you help me get a job in Bulgaria?

Bulgaria is one of the countries in EU which is popular with liberal tax policy and still lower taxes.

If you are thinking about starting business in Bulgaria ,the following information is important:

Bulgarian national currency  is BGN(lev), fixed exchange currency  1EUR = 1,95583 BGN
There is a possibility for exchange of goods and services within the EU countries without double taxation.
The minimum capital for registration of company is 1 EUR.
The process of registration of company is no longer than 10 days.
Corporate income tax is fixed and equal to 10%.
Value added tax is equal to 20%.
Dividend tax is equal to 5%.
The manager of the company is obligatory to be local or foreign individual and the owner of the capital could be local or/and foreign individual or legal person.


To start business in Bulgaria you need:

Unique name of the company
Real current address of the company on the territory of Bulgaria
Bank account in Bulgaria
Accountant or accounting company for the taxation
If the manager of the company is foreign individual, it is obligatory to have issued personal account of foreigner
In case of revenue flow by cash- it is obligatory to have cash register in the legal vendors.
To have company seal


Important information:

1.    VAT    -  20%   
2.    Corporate income tax    -10%    For legal entities
3.    Dividend tax    -5%    Not applicable when dividends are distributed in favour of legal entity resident of another European Union Member State
4.    Personal income tax    - 10%    The rate is charged on gross salary minus social contributions payable by the employee
5.    Social security contributions for the employee    - 12,9%    Min chargeable amount is 420 BGN and maximum is 2 200 BGN.
6.    Social security contributions for the employer    -17,8  18.5%    The rate may vary depending on the employers type of business. Min chargeable amount is 420 BGN and max is 2 200 BGN


Different company forms:

EOOD    Sole-shareholder Limited Liability Company
OOD    Limited Liability Company
ET    Personal Unlimited Liability Company
AD    Joint-stock Company
EAD    Sole-owner Joint-stock Company
SD    Unlimited Partnership
KD    Commendam, Limited Partnership, Responsibility is according to Agreement
KDA    Partnership Limited by Shares

xxxxx

What type of business is profitable in Bulgaria and How much do I need to invest?
How to get a residence permit?
How much is living expense?

Hello samierad,

Bulgaria is a tourist country, with very nice nature and climate. Any business selling these is worth considering. Otherwise - IT related companies are the most profitable now here- if you have similar qualifications and/or experience think about this.
Of course, speaking about profitable business I exclude businesses related to petrol, electricity, drugs, etc. which are controlled by the mafia.
Another option is a business related to BIO/ORGANIC food and cosmetics - you can find these at a very good price here, but you have to look for export markets.
Many other options are also possible depending on your expertise. So is the investment, but setting up an online store would cost you about 5 000$ plus the marketing costs. Probably this is the cheapest start.
Residence - you have to apply for a visa - Type C or Type D, here's detailed info: http://www.mfa.bg/en/pages/133/index.html

Living expences:
- hiring a flat - approx 250$ per month;
- electricity - 50$
- water - 20$
- food - 300 $
- drinks - depends on what and how much you drink :)
- travel -  1 litre gas costs 1,7$
- second hand car - starting from 2 000 $ for a decent one
- VAT - 20 %
- Corporate tax - 10 %
- Accountancy company fee - starting from 100 & per month
- Lawyer - generally much more
- Setting up a company - 300 $ or so
- Average salary of a qualified employee (excluding IT) - 600$

Basicly that is the most important. If you need sth. different - ask. All prices are valid for the capital - Sofia. Smaller cities will generally mean lower prices.

By the way, Bulgarians are considered to be of Iranian origin .... but more than 3000 years ago. :))

Hi,
My partner and I are moving out next year with a plan to set up a campsite on our land. We know we need to set up a business etc but do we need to register the land or anything?

Any advice would be appreciated
Thanks

Hi

I am an Indian with Indian citizenship.  In all over world people like Indian cuisine and I Want to start my Indian food chain in Sofia.

Please let me know the step by step process of starting the restaurant.

It would be a great help.

Thanks
Adi :)

Hi adi8,

The process is basically the following:

1. Prepare your Business plan. Then visit Bulgaria and select city and location of your restaurant / you will need s.o. to help you with the location selection/.
2. Set up a company in Bulgaria or buy an existing one - every accountant should be able to do that.
3. Apply for a longterm visa - owning a company and hiring a flat in Bulgaria are basically sufficient grounds for this. .
4. Check the requirements of the Food and drinks Act - you will have to comply with these when opening a restaurant.
5. Hire or buy the selected venue for your restaurant - do the necesary repairs and obtain the required licences as per the Food and drinks Act. Also Fire department has to inspect the place and issue a separate licence.
6. Hire the necessary staff for the operation of the restaurant - in Bulgaria you can find many Indiands.

To speed up the process you can think about hiring a consultant to help you with all the requirements and licencess, since this is a food related business and therefore heavily regulated in Bulgaria. If you need more info on this write on p.m.

Good luck

Hey there i am moving to bulgaria in the new year to be with my girlfriend who i have been with for 2 years now and i am looking to open a cafe/bar in the village where i live i was wonder how do i go about this to get it underway and open so i need to know all rules and regulations to do this as fast as possible as i will need an income just to pay bills and also give me something to do and employ a few local from the village so please can someone help me and tell me rules and regs and how to open cafe/bar thanks

Or even if i just open a bar please someone just tell me what i need to do

jobo20 :

Hey there i am moving to bulgaria in the new year to be with my girlfriend who i have been with for 2 years now and i am looking to open a cafe/bar in the village where i live i was wonder how do i go about this to get it underway and open so i need to know all rules and regulations to do this as fast as possible as i will need an income just to pay bills and also give me something to do and employ a few local from the village so please can someone help me and tell me rules and regs and how to open cafe/bar thanks

Where is your village?
The first thing to do is to open a company with a lawyer and then ask all the questions to the accounting, as soon as your company is ready you take the donuments and you open your bank account.
We just had someone opened a cafe in our village it's working very well, they also serve soops, french fries, salads etc. the people who give the licence came to check if everything is done by the rules, they had to make it easy acces for the disables, had 4 sinks, heater etc.
But like I said first go start your business.
Good luck

i need to establish a small bussiness

go for it! .. or buy one

do you need help ?

Greetings from Singapore

From the information posted here, starting any business in Bulgaria
is relatively straight and low cost, it is even lower than Cambodia!

I like to know is the English language commonly spoken and use in business  meetings?
What other languages besides Russian is widely spoken ?

I am looking into the importation of organic food products, ladies
cosmetic, products native to Bulgaria.

I have looked through several Bulgarian website but most of the info
are in Russian and some English.

Any information, please care to share for all forum members.

Cheers
Paul

paulpoh :

Greetings from Singapore

From the information posted here, starting any business in Bulgaria
is relatively straight and low cost, it is even lower than Cambodia!

I like to know is the English language commonly spoken and use in business  meetings?
What other languages besides Russian is widely spoken ?

I am looking into the importation of organic food products, ladies
cosmetic, products native to Bulgaria.

I have looked through several Bulgarian website but most of the info
are in Russian and some English.

Any information, please care to share for all forum members.

Cheers
Paul

First thing you should know, the language spoken widely is Bulgarian....not Russian.

Hello
Iam a jordanian citizen interested in opening a restaurant in sunny beach area. Iam trying to find out how to rent a shop there, the ones that are located in the street. I thought that they could be rented from the municipality but i cant find a point of contact. Can anyone guide me how to find the authority that can offer street shops for rent there
Best regards
Marwan

Hello Marwan,

Please note, that property in Synny Beach could be either state owned or private. So you have first to select the position/property and then find the owner - whether the municipality or privately owned.

Also there's a big difference whether you want to open a restaurant or a shop. If restaurant is your choice then you will need 4-5 obligatory licences - from the fire department, form the local food and health agency, from the sanitary and higyenic inspection service and from the municipality. Most of these are not required when opening a shop.

So my advice is:
1. Visit the place yoursel and select the property you would like to hire.
2. Find an agency that will prepare all the necessary documents and apply for the licencies  you need.

Please note that this will take time, in case of a restaurants could be 2-3 months.

If you need a local agent, PM me, I will send you contact details of an agency operating in the Sunny Beach region.

Kristiann

Hi
I am trying to start a Training Company in Bulgaria. My aim is to Train people who want to work in the care industry in the UK . I have many years experience in this field, and i have an agency wanting trained staff right now. My plan is to train people in Bulgaria set up the NI number and DBS before people leave bulgaria. Then they will have a skype interview with the Director of a company and be offered a position straight away. I will complete all of the care certificate training with new staff members and provide all approved certificates.
The delegates do need to speak English, have a caring nature and be able to commite to the training. so no time waister please.

Moderated by kenjee 9 months ago
Reason : Promotion of own services not allowed. Register company in business directory.

Hi Saravanan, I was looking for Indian restaurants in Sofia and came across your posting in this forum though long time ago. We have been going to Bulgaria quite regularly from 2005. I am from Madurai.

I am quite curious to know if you have moved to Bulgaria and opened any business?

You can reply to my email ***

Venkat

Moderated by Jaisan 6 months ago
Reason : Please do not put your personal information on the forum for your own security. Thank you
We invite you to read the forum code of conduct

Dear All Expat and especially the Indians who would like to move to Bulgaria.
1) Do your own research and first like most people say come to Bulgaria see it in the Winter and not in the summer and decide if you can work in the winter months here
Winter of -10 temperature and going to -25 at times and snow of around 6inches plus if this is what you can get round than move to Bulgaria.
2) Setting up a company is not a big deal any one can do it for less than 200Euros in 2017
3) Knowing the language is most important or having someone who knows the ways to work with the laws is important why keep reading
4) most real estate agents will not mention this and it is a fact you will find out once you walk in your restaurant or food business whether it is a store or a deli
a) Company registration (very easy)
b) depending on what you are cooking in your place and for Indian you will want gas so make sure you have the gas permission not an agent telling you once you hire this the gas will come (utter b***shit since permission are hard to get especially if the kitchen is underground or there are a block of flats above)
c) Does the kitchen have a extrator fun and chimney going as high as the last floor and above (no than read the new laws of 2016 when it comes to new restaurants or fast food places)
d) before signing any document go to the directive of health and hygiene pay the money for the inspectors talk with them (if you do not know Bulgarian hire an interpreter for 20BGN and hour or max 60BGN a day 6 hours) and ask all questions necessary
e) To run a restaurant from zero and build it... if you do not have 40,000BGN or 20000Euros do not bother and now most people will say this amount is out from the sky well you know it as well as I do a proper restaurnat without a proper kitchen is useless now do you maths as Indians are good at it... Tandoor? Cooking meat, eggs, veggies, Milk, white meat and red meat than the law is you need a washing sink for white meat, a washing sink for red meat, washing sink for veggies, washing sink for eggs, and one for dairy like milk etc and finally one totally separate place to stock everything as mentioned no one product can be in the same fridge or freezer than the other in separate drawers and containers yes but if your fridge or freezers are contaminated with salmonila pray to GOD when the health officers find out
f) Rent and expenses and also note to be added... one thing to get cooks from India will take you over 3 years and you will need 10people working for you for a minimum of one year before the ministry will allow any foreign person to work for you.. So God Bless you in that area too
g) Do not be a fool and walk in the trap just by someone saying yes yes yes like you do all the time and never deliver open you brains and listen to your heart as what seems like a nice cake and you want to eat it.. think twice it can have something in it which can react and become poison for your body...
Everything is difficult when you have no knowledge or little knowledge and when you think you know it all... the laws keep changing welcome to Bulgaria a country which is in European Union but the last country to Join and it is still learning and hence laws keeps changing... If you cannot keep up with it be ready to pay the fines or have a good lawyer to argue on your behalf and have the courage to fight when you are correct
please excuse any spelling mistakes or grammar as I do write very fast and not correct as i go past.. make what you think but time is limited.

I am currently looking at re locating to Bulgaria. I would like to move my business there and also purchase in time a property there.
I am coming from Ireland. What do I need to do and what kind of costs are involved. Also what do I need to open a bank account (personal and business) and how long does this take?

Also need to know about vehicle insurance and re registering vehicles in Bulgaria.. Costs involved
Any help and advice welcomed

Thank you

Vagabond
Get in touch I can put you in the right direction for help.

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