Frequently Asked Questions
Frequently Asked QuestionsUpdated on Thursday 26th January 2017
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Foreign citizens wanting to know how to open a company in Bulgaria or how to move to the country will find below the most frequently asked questions answered by our Bulgarian attorneys.
1. What are the steps of business litigation cases in Bulgaria?
Under the Bulgarian Civil Procedure Code, the steps of business litigation cases are filing a petition with the relevant court, summoning the defendant, the examination of the claim, hearing the case and the ruling.
2. What are the most important legal aspects I should know about company formation in Bulgaria?
Company formation in Bulgaria falls under the requirements of the Commercial Code. In order to open a company in Bulgaria you must select a type of entity, submit the required share capital and prepare the appropriate documents for registration. Our lawyers in Bulgaria will help you set up a company.
3. What are the basic legal requirements for foreign investors wanting to invest in Bulgaria?
Foreign investors must get acquainted with the Trade Act when opening a company in Bulgaria. They can register companies like any other national. The minimum share capital to open a limited liability company in Bulgaria is 2 BGN.
4. Will I need special permits or licenses for my new company in Bulgaria?
There are industries that require applying for special licenses or permit. For detailed information you can ask our Bulgarian lawyers.
5. What is the procedure of debt collection in Bulgaria?
Debt collection proceedings in Bulgaria can be handled by collection agencies or can be tried by the relevant Bulgarian court.
6. Do you need a visa to enter Bulgaria? How can I obtain it?
Only foreign citizens of non-EU countries are required to apply for a Bulgarian visa. The applications can be submitted with the Bulgarian embassy or consulate in your home country.
7. What are the steps I must follow in order to obtain citizenship in Bulgaria?
Foreign citizens living and working in Bulgaria for at least five years can apply for Bulgarian citizenship. Other ways of obtaining a Bulgarian passport is by investing in certain industries.
8. What are the requirements regarding employment in Bulgaria?
EU and Swiss citizens are not required to apply for an employment visa when coming to work in Bulgaria. Citizens of other states will, however, have to secure an employment contract with a Bulgarian company before applying for the work permit.
9. Are there any special requirements for marriage and/or divorce in Bulgaria?
Foreign citizens must have long term residence permits in order to get married in Bulgaria. In case of divorce proceedings, these will be tried by a Bulgarian civil court no matter if they are by mutual consent or not.
10. How are individuals and companies taxed in Bulgaria?
Individuals are taxed on their worldwide income and are subject to a 10% tax rate and an 18% rate on interests. Companies are subject to the corporate tax which has a 10% tax rate.
If you have any other questions or need representation in legal matters you can contact our Bulgarian law firm.