Hello friends!
I want to tell you about how to open a company in Bulgaria as a Russian. On the one hand, this seems like a very easy undertaking. But, as soon as you enter this “world of Bulgarian business,” you are faced with unforeseen difficulties. Don’t let this stop you, I’ll help you with advice!
From this article you will learn:
Why Bulgaria?
Today, many businessmen and simply enterprising comrades are looking at Bulgaria as a country where it is convenient and profitable to do business. Why is this so? There are a number of advantages.
The very first thing is that foreign capital is welcome here! The Bulgarian economy, even after joining the EU, is not the most stable; the standard of living of the population leaves much to be desired. So, the government can be said to be inviting investors. And this is what they offer:
- the lowest income and corporate taxes in Europe. Learn more about taxes (here is a link to an article about taxes);
- 6 free trade zones, opportunities to move capital abroad;
- a foreign investor has the right to enter into direct transactions without notifying local authorities;
- Small businesses are most in demand;
- the ability to make money transfers in leva and foreign currency abroad without restrictions;
- Bulgaria has an agreement with Russia to avoid double. Not only with Russia, by the way.
Not bad, right? But, most importantly, it is not difficult for a foreigner to open a company. You can contact one of the agencies that will prepare documents for you. But I think you can handle it quite well on your own. And also, this will be a useful experience for someone who really wants to live in Bulgaria, do business and wants to feel like a duck to water here.
This is where the difficulties begin
Did you know that in Bulgaria there is no single set of rules on how a foreign citizen should register a company? And if it is not there, then you find yourself in a difficult situation. For example, each country has its own forms, and each type of company has its own. If you make a mistake, you end up in a bureaucratic funnel.
To avoid mistakes, think everything through the smallest details. For example: type of company, what business to open. At least so that they can clearly and clearly say what form you need. After you fill out the appropriate forms, they are sent to the Register of Companies. So, it’s better to make all mistakes before this stage. Then contact the Register and write requests to change data - it will cost you more.
And one more problem - you never know what else you might need. It seems like there is a list of documents that are needed. You can easily find them on any website under the query “open a business in Bulgaria”. BUT remember that officials rarely stop there. You never know what you might need.
Take all the documents you can think of. Collect all the pieces of paper you can collect:
- income certificates;
- bank statements;
- registration at the place of stay.
This is how I collect documents for Schengen visas - necessary, not particularly necessary, and photocopy it all twice just in case.
It is necessary to anticipate any question from the registration chamber employee.
Are you registered in Bulgaria at your place of residence?
- Yes, here is a piece of paper.
What means do you live on?
- Here is an account statement, a statement of movement cash over the past 6 months.
You should make a photocopy of page 25 of your passport and bring it...
— Here is a photocopy of your entire passport.
We would like information about your shareholders.
- I have it, here you go!
Something like this. I’m not kidding, it’s really better to stock up on everything we can imagine.
What about the visa?
If you are invited to work or have an invitation from a Bulgarian company to cooperate, then a business visa is issued. In order to open your own company, you must have a residence permit or permanent residence permit in the country.
The easiest way is to register a private enterprise. You will need to fill out an application to open a company.
Indicate:
- Name;
- office address;
- a short summary of what you will do.
- approving act of creation;
- decision on grounds;
- consent of the manager and his signature, as a sample (this document is done by a lawyer);
- payment of state duty;
- a receipt from the manager stating that the documents are genuine.
Submitted in person to the Chamber of Commerce. Bring your passport and proof of permanent residence. Plus, you fill out a declaration confirming that:
- the applicant is not currently or has not undergone bankruptcy proceedings in the past;
- there is no other company registered in his name;
- is not a debtor.
After verification, you receive the status of an individual entrepreneur. Just 5 days and 60 leva.
An individual entrepreneur can be registered through a proxy, but then a power of attorney must be executed in accordance with all the rules.
It's best to have a headache from collecting all that paperwork before heading to the Chamber of Commerce registration window. But then everything will be easy. I advise you to practice the simplest phrases in Bulgarian. The employee will, at a minimum, be pleased if you greet him in his native language.
Don't forget to subscribe so you don't miss anything and receive a gift - a phrasebook in English, German and French. It has Russian transcription, so even without knowing the language, you can easily master colloquial phrases.
I was with you, Elizaveta Nesic. See you!
Quite a lot of people for whom Russian is their native language successfully run their business in many European countries. And in addition to the language advantage, Bulgaria also has a number of other privileges for doing business.
Therefore, many Russians take the risk of starting their own business here, which is supported by the state and is developing quite quickly.
Business in Bulgaria is now at high level of its development. A good tax atmosphere contributes to this. And such a direction as hotel business, is developing very actively.
Every year, the resort towns of Bulgaria expand, acquiring new boarding houses, hotels, and private resort areas. At the same time, the growth of tourists coming on vacation is increasing every year.
Therefore, you can have very good capital in this area. Small businesses are also actively developing in the country, namely service(restaurants, cafes, workshops, salon business, health industry).
The investment potential of many business projects that are already ready and put into operation is at a high level. But at the same time, one should not be afraid of discovering something new, since the state has developed the whole system encouraging investment in medium and small businesses started by foreigners.
Well, another plus is that doing business is much easier for Russian people with their mentality than for a European businessman.
And if a visiting entrepreneur has experience running a small business in Russia, then this will only be a plus, since it will be much easier to join the business environment due to the similarity and closeness in faith, spirit and language, as well as significant support from the state itself in business development .
Bulgaria has its own territorial and economic characteristics, which are important to know, understand and take into account when choosing a business. What's important:
- decide on the area of your investment;
- rationally understand your financial capabilities;
- determine expected income.
All this will help you understand what kind of business is right for you, and whether it will be competitive in Bulgaria. It should be understood that most resort areas in this country have their own attractions for businessmen.
For example, in summer period the number of tourists increases significantly closer to the coast, and in winter time Mountain areas where ski resorts flourish become tourist “paradise”.
If we approach the issue of formation own business in Bulgaria with an understanding of the matter, then developing your own company in this country and having a constant profit is quite realistic.
What forms of business are there for Russian citizens?
Let's take a closer look at how you can open your own business in Bulgaria and make it profitable. There are several forms of running your own business in this country.
Individual entrepreneurship (IP)
To start this type of activity authorized capital(attachments) not required. At the same time, the founder of an organization or company can be not only a Bulgarian, but also a visitor who has a residence permit in the state. One individual entrepreneur can be registered for one individual.
In this case, the name of the company or organization must include the full name of the owner. The founder is liable with all his property. The activities of this form of business account for 10% of income.
Limited Liability Company (LLC)
It can be founded by one person or several persons. When organizing this business, an authorized capital is required (with minimal investment at 2 leva).
The general meeting and the manager conduct the work of the LLC. There are often cases, and this is stipulated in the legislation of the country, when a company can be managed by a so-called controller, who is a third party and monitors the implementation of the constituent agreement and prepares reports on activities for general meetings.
Joint Stock Company (JSC)
Here the size of the authorized capital already rises to 50 thousand levs. To open, one physical or legal entity, and here maximum number founders is not limited by law.
At the same time, the state has established a minimum share price of 1 leva, and their number in the hands of founders and shareholders affects the ability to indicate the progress of the joint-stock company’s development. Shareholders are responsible with their property.
Bulgaria also provides the opportunity to register as a general or team partnership, PAT with shares.
Where to start?
As already mentioned, for Russians to start a business in Bulgaria, they must have a residence permit. This document is given to persons who have a type D visa (long-term). You can get it at the visa center. To complete it you will need:
- passport of a citizen of the Russian Federation, as well as its copies in 2 copies;
- completed application forms in 2 copies (obtain from the consular service);
- photographs (3.5x4.5 cm).
A residence permit can be issued within 3 weeks and is valid for 12 months. If a citizen has no violations of the law during this period, then by contacting the relevant authorities, this document can be extended for another 1 year.
If an entrepreneur has lived in Bulgaria for more than 5 years, and the number of days spent in the country is not less than 183 days per year, then he can obtain the right to obtain citizenship and a residence permit.
There is also a business visa (business visa), which implies that a person from another state is going to the country to engage in his own or an already established business.
Such a document is issued on the basis of an official invitation from a Bulgarian citizen. Also important element in the preparation of this kind of documents - this is insurance for a citizen who plans to conduct his business in the state. According to the new rules, a business visa is issued for a period of 3 months.
If you managed to obtain a residence permit, then move on. You already have the right to start your own business. Registration of a company occurs according to a certain scheme:
- filling out registration documents, which are certified by the owner and manager;
- the name of the enterprise is invented and agreed upon;
- payment of state duty;
- submission of documents for company registration.
A record of the newly formed organization is made in the country's trade register. After registration, the company has the right to open its current account in any bank in Bulgaria. Also, to maintain financial and accounting records, you need to make a seal.
What documents are needed to register an individual entrepreneur? It has already been mentioned that the owner can be one person, and the opening of a company occurs with minimal investment (in fact, payment of state duty), which is very profitable and convenient for Russian people. To do this, the following documents are required from the founder:
- application for the creation of an individual entrepreneur;
- act approving the company;
- decision to found an individual entrepreneur;
- drawn up by a lawyer, the consent of the manager and his sample signature;
- receipt of payment of state duty;
- a receipt given by the founder stating that all submitted documents are true.
If the registration of a company occurs through a proxy, then a power of attorney in his name is required, which gives him the right to such activity.
Is it possible to purchase a ready-made business?
Recently, there have been quite a lot of people wishing to Russian Federation who are ready buy ready business in this country. But it should immediately be noted that this requires quite large investments and resolution of legal issues.
Buying a ready-made business project in Bulgaria is quite simple, since the choice is large and there are quite enough offers.
Agricultural land, restaurant and hotel businesses, and farm production are in increased demand.
Crisis recent years has led to the fact that many financial institutions confiscate ready-made products from borrowers and put them up for auction, so it’s quite easy to find options that will cost you money. The industry of the business depends on how much money you are willing to invest in the business.
IN major cities It is very profitable for Bulgaria to purchase restaurants, pharmacies, small shops, and beauty salons. If you are planning to start production, then focus on the smaller cities of this state, since there is cheap labor here, and the requirements government agencies somewhat underestimated. Don't forget to consider logistics too.
Despite all the difficulties, a ready-made business has a number of advantages:
- at correct selection you get a ready-made object, established clients;
- you completely eliminate the mistakes of pioneers who start their business in this country from scratch;
- you will already have a staff of employees who know their job and are ready to cooperate with the new management;
- bankers and investors are much more willing to invest funds in already developed business projects.
Excellent prospects are opening up for those Russian citizens who will take the risk of buying a ready-made real estate business. This market segment is overflowing with offers for the sale of hotels, ranging from large hotels to small “family-type” hotels.
All of them are in working order, have a license to provide this type of service and have an established clientele. The new owner will only be required to maintain and continue to develop the acquired hotel complex.
Don't be afraid to start your own business in Bulgaria! This is a country that will delight you and bring you stable income.
Conditions in Bulgaria for starting and developing your own business are improving every year. After the Republic of Belarus joined the European Union, economic indicators continue to grow, attracting more and more foreign investors to the state. A new flow of investment into the Republic was ensured by changes in Bulgarian legislation in 2013, thanks to which it became possible to invest in business.
Are you thinking about opening a European business? Register a company in Bulgaria with us and become a citizen of the European Union.
Advantages of doing business in Bulgaria
Opportunity to study commercial activities and work as a manager
Low level taxation
Government support and incentives for foreign investors
Obtaining the right to purchase land plots
No religious or racial conflicts
Possibility to register a car for a company
Use of banking services, including the right to obtain a loan or mortgage for a company at favorable interest rates
Economic and political stability
Obtaining a business visa to live in Bulgaria
Close language and mentality to citizens of CIS countries
Preserving your native passport
Opportunity to move to Europe for the whole family
Ways to obtain Bulgarian citizenship through business investment
Foreigners can obtain Bulgarian citizenship through permanent residence when investing in a Bulgarian business. To do this, use one of 3 possible options:
Buy shares of one or more companies on the Bulgarian stock exchange for an amount exceeding 1 million leva (approximately 512,000 euros). After obtaining permanent residence in Bulgaria, you need to re-invest the above amount in a Bulgarian company - a “certified investment project”. By fulfilling these conditions, you will receive Bulgarian citizenship.
The investment mechanism is completely the same as option 1, however, the minimum required investment amount is 6 million leva (approximately 3,070,000 euros) and the company's shares cannot be sold on the stock exchange.
Become the owner of at least 50% of the shares of a Bulgarian company or register as a managing director of a certified investment project. After obtaining Bulgarian permanent residence, you need to invest 20 million leva (approximately 10,260,000 euros) or more over 1 year to obtain Bulgarian citizenship.
What business to open in Bulgaria?
Foreign entrepreneurs and investors often ask the question: “what business to open in Bulgaria?” The legislation of the Republic does not limit foreigners in choosing areas for doing business - it all depends on your plans and the size of the investment. It is quite easy for individuals to organize a small or medium business(for example, hotel, restaurant). In turn, large foreign companies prefer to open their representative offices or buy ready-made Bulgarian businesses (for example, construction, transport, tourism).
Basic list of documents for starting a business in Bulgaria
Statement
Original title companies
A copy of your foreign passport (or the co-founders of your company)
Founding act/protocol
Legal address companies
Director's declaration
Certified consent of the director and sample of his signature
Statements on opening an account in a Bulgarian bank and contributing the authorized capital
Receipts for payment of registration fees
How to buy a ready-made business in Bulgaria?
Ready-made business in Bulgaria is very popular among foreign investors from Russia, Ukraine and other CIS countries. This is due to the availability pricing policy and a wide selection of existing business properties for sale. To purchase a ready-made business in Bulgaria, you should decide on an object that corresponds to the type of activity you have chosen. You can contact us - we will advise you and select an option on the Bulgarian investment market that is worth the investment.
Having decided on the object, it is necessary to study in as much detail as possible the state of affairs of the company and the process of doing business. Our qualified lawyers can conduct a legal examination of the documentation. Along with a legal analysis, it will be useful to do an economic one: assess assets and business reputation, predict the prospects for the further development of the company.
Final stage purchasing a ready-made business in Bulgaria - determining the price. To do this, it is necessary to draw up an evaluation conclusion: clearly justify the cost that the business owner is asking for, and assess the validity of the requested price.
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5 I) R8 X, R: P8 s Many people think what to do? To do this, in my opinion, you first need to understand what ideas and options there could be in principle. Armed with Google, I started searching various options. Here I will not describe each option separately, but will only write the names of the businesses. Let me clarify, we are talking about a small business with a small initial investment. So:
2 \# l8 U$ a, T2 (/ u. O
0 [# L: e) B. b7 o+ E. G+ N" X 1. Shops
* F- ~- s8 I0 N - Grocery store9 a(e6 j" Q" n1 A$ (
- Pharmacy
* t* n m* X, _* h: B - Optics
* H% ~7 x! ]6 A5 O - Bakery
" ^+ _; u6 H" k1 ?1 P - Alcohol, cigarette kiosk
"^3 G0 B5 r6 ^- @" _ - Clothes (+ specialty stores clothes)9 B L) g* W7 J% Y
- Souvenir shop! ) r$ M; ^& y([+ A
- Cosmetics
4 l3 o% y& F" U8 P* M8 j S - Jewelry: g2 M/ W; d* _% p
- Children's products3 |4 w, ?. B# u* w2 x% U, D
- Computer stores; r/ |" f+ g) F4 o8 |
- Specialized products
7 \* V: q1 N. p; u, G
1 l& I8 u2 V(|: k" P+ X 2. Food
) U, l$ S+ b+ N; G! f" E:\ - Bar
4 y+ b3 R: C- n! D) @% I - Restaurant
2 M9 r(k" l: J& G2 x(h - Food delivery (rolls, pizza, food)7 A1 i2 K$ G" |* ^) d8 z
- Sweet shop (coffee + cakes)
1 c" W! T" G0 `/ Q$ H - Kiosks for ice cream, corn, popfood, etc.
1 (# Y. w1 J2 e. d3 f - Catering" g7 h* u# B" (# R2 h; p
K-u! M5 R* c. z 3. Business on tourists
3 k" ^8 r" I; |3 U n4 M - Renting an apartment during the tourist season; O# n4 Z! ^. m3@! P
- Car rental2 D! k* S, N0 [- L0 n9 v. [
- Excursions, guide (you can create your own exclusive program to promote)
8 )(`6 i" D/ z/ [ - Umbrellas, sun loungers on the beaches
/ Z" w5 W b& ^ - Razvlekalovo on the beaches ( jet skis, boat trips, etc.). Y, `+ D& I(u4 e+ b9 V
- Tattoo salon
" x- c# Z: l* B8 z8 Z C
- o" ]* D4 F# . ?. P8 ?
- Secondhands0 c8 p6 @+ S3 X" `/ d+ j
- Fishing+ m" R. Q" ~- \4 ?5 z% i
- Advertising agencies, advertising newspapers\magazines, etc.2 t `3). j9 K0 I
- Recruitment agency. `(B- T$ S1 t$ @% E: `8 y ]
- Flower kiosk
: H3 G" F% o. @ - Taxi
+ j(c1 k: n, e4 O: ~ - Repair of apartments, houses(r" r0 f1 M/ ($ E
- Plastic windows, doors1 R# w" E: E# ?% P
- Breeding dogs, cats, hamsters and selling them *`! y& l2 w7 e7 F) )5 o3 H/ k
- Production of agricultural goods (mini-state farm)
* C6 y" y. ^3 N3 k- O - Equipment repair* o4 l& `7 O g/ W5 ^
- Holiday agency (weddings, anniversaries, events)
9 E7 H+ Y3 j, F/ T3 E - Automotive workshops
# m7 i# u6 H(z5 e7 w4 X - Car Wash4 S! C9 u" s6 C* j; v
- Photo for documents
. a& E3 W, G(g1 l; c - Photographer
: t+ P4 u(t0 y& e" o - “Husband for an hour”6 F. c- ?) W j4 O(n
- Various courses, training, seminars (language, cooking, etc., etc.)
4 q, P9 @7 U4 c$ |" )) r$ \ / C4 J7 g9 N3 d# y$ (0 u) (
7. Working at the computer1 v. L! C% f% ]
- Designers/ i. s, F(b/ F. ]2 E0 a* A: G
- Programmers9 G7 M; Y" )(s2 b5 v/ N
- SEO people # M2 a- |! w! S5 ?) i# f
- Working on Forex (not for the nervous)
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