Relocate to Bulgaria
Relocate to BulgariaUpdated on Monday 07th August 2017
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Bulgaria is a popular location in Europe to relocate a company as well as for outsourcing particular services. The country has a favorable taxation regime, lower labor costs than other EU countries and the country has been taking important steps towards creating an ever more attractive business environment.
Foreign business owners who decide to relocate to Bulgaria can do so with the help of our team of attorneys in Bulgaria.
Business relocation to Bulgaria
The company relocation process is straightforward. Investors need to set-up a matching business structure in Bulgaria, according to the local company incorporation requirements and as per the Companies Law.
The types of companies available for incorporation in Bulgaria match the ones existing in many other countries. The most common type is the private limited liability company or the LLC. The joint stock company is suited for larger businesses that need relocation to Bulgaria while small, one-man investors can open a sole trader.
Two initial steps for opening a company in Bulgaria are drafting the company documents and signing them in the presence of a notary and opening a corporate bank account. One of our lawyers in Bulgaria can give you complete details on how you can draw up a power of attorney if you cannot be present in the country.
Requirements for Bulgarian companies
Companies relocated to Bulgaria need to observe the local laws for corporate taxation, VAT registration, and reporting. The international financial reporting standards apply in the country. Each company has to file its own tax return, as consolidated ones are not permitted.
Entrepreneurs or employees looking to move to Bulgaria also benefit from low taxes on their income and favorable living conditions.
You can choose to relocate your company in Sofia, Varna, Burgas, Plovdiv or any other city of your choice. One of our attorneys can help you set-up the business in any of these main towns.
Contact our law firm in Bulgaria for more information on the requirements for relocating a business and the conditions for foreign entrepreneurs in the country.