Bulgaria is a member of the EU, NATO and several other international organizations. The state currency is Bulgarian Lev, the official language is Bulgarian.
To date, Bulgaria has concluded double taxation prevention treaties with more than sixty countries.
Bulgaria has one of the lowest in EU corporate tax rates of 10%, as well as one of the lowest tax rate on dividends – 5%, which can be reduced based on the treaty on double taxation prevention.
The Company can be established by both individuals and legal entities. A foreign person may be appointed as a Director and act as shareholders.
The Company can be used for any activity not prohibited by law.
Registration of the Company can be done remotely, but to open an account, you must personally meet with a representative of the Bank.
Bulgaria has a relatively simple procedure for VAT registration.
A Company registered in Bulgaria is obliged to keep accounting records and submit annual financial statements. If the company is VAT registered, a submission of VAT returns is required on a monthly basis.
The Bulgarian Company has a relatively low cost of registration and maintenance.