Start-up a business in Bulgaria
Foreign citizens and enterprises may set up companies in Bulgaria under the same conditions as Bulgarian citizens and legally resident persons. The conditions are set out in the Bulgarian Commercial Code (TZ).
Legal forms of carrying on a business
The types of company most commonly registered by foreign citizens in Bulgaria are limited liability companies (OOD) and public companies (AD). The law provides for other forms of business activity as well, such as sole traders, although in this case the person wishing to register as a sole trader needs to have the status of a permanent resident in Bulgaria.
The rules of running a business
Companies wishing to go public have to meet the requirements of the Public Offering of Securities Act (ZPPTsK) which relates to the information they have to provide and records they must present. All entities licensed by the Financial Supervision Commission or which have obtained a trading permit under the Public Offering of Securities Act (ZPPTsK), Markets in Financial Instruments Act (ZPFI), and Companies with Special Investment Purposes Act (ZDSITs) have specific requirements.
To succeed, a new business needs a sound commercial strategy and secure financing.
Some standard requirements to be completed when setting up a business are the same as when opening a branch.
Your Europe portal of the European Commission gives additional information on the administrative procedures to follow in order to register a company. It offers also information on how to acquire a company, both by re-forming (through merger, acquisition or division) and by changing its legal status.