Set Up a Hotel/Hostel in Bulgaria
Set Up a Hotel/Hostel in BulgariaUpdated on Monday 09th October 2017
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Bulgaria is a country that has a lot to offer to tourists. With both beautiful beaches and a scenic mountain range, Bulgaria can be visited all year round.
This blend of possibilities makes tourism an important contributor to the country’s economy and it also makes investments in tourism attractive to foreign entrepreneurs.
Investors who are interested in how to set up a hotel or hostel in Bulgaria can contact our lawyers in Bulgaria for detailed information.
Tourism in Bulgaria
Bulgaria is rich in tourist sights, from sunny beaches during the summer to hiking and winter sports. The country can be divided into several main regions, each with its own main attractions. Southwest Bulgaria is the mountainous region, with resorts like Bansko which is popular during the winter months. The Bulgarian Black Sea Coast is dotted with by many seaside resorts and cities like Varna and Nessebar. Central northern Bulgaria is a region with a slightly different scenery: it includes cities with beautiful architecture and picturesque scenery.
Investors in tourism who want to open a hotel or hostel in Bulgaria will choose a seaside or mountainous resort. Another option is to open a hotel in one of the country’s cities as many tourists also enjoy city breaks in Bulgaria.
While Bulgaria offers a multitude of options for foreign investors, not only in tourism but also in other sectors, the language barrier can be problematic. One of our attorneys in Bulgaria can help represent you in front of the Bulgarian authorities and during any other negotiations or procedures.
Opening a company in Bulgaria
Entrepreneurs who want to set up any type of accommodation in Bulgaria will need to open a company in Bulgaria and meet the requirements for taxation and reporting.
The limited liability company is a popular choice because investors are only liable to the extent of the capital invested in the corporation. Entrepreneurs need to register the company with the Commercial Register. Hotel accommodation services benefit from a reduced VAT rate. One of our lawyers in Bulgaria can give you specific information on the conditions for doing business for foreign investors and the visas you will need to stay in the country for business purposes.
You can contact our law firm in Bulgaria for detailed information on how to open a business in the country and how our lawyers can assist you.