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Yes. There are no restrictions on foreign ownership. You can be the sole shareholder and director of an EOOD without being a resident or citizen of Bulgaria.

Once documents are submitted to the Commercial Register, the company is typically active within 3 to 5 business days.

Yes. If you cannot travel to Sofia, you can authorize a representative via a notarized Power of Attorney to handle the submission for you. You will still need to provide the required notarized documents from your location.

Aside from your virtual office subscription, you should budget for annual tax filings and monthly accounting services. All Bulgarian companies must file an annual tax return, even if they had no activity.

You do not need to rent a physical desk or building to incorporate, but you must have a legal registered address. This address is public record and is where official government mail is sent. Our Virtual Office service provides this address instantly, keeping your personal home address private.

The statutory minimum capital for a Limited Liability Company (EOOD/OOD) is just 2 BGN (approx. €1). However, banks may require a higher initial deposit to cover account opening fees (we recommend depositing approx. €50-€100).

VAT registration is generally voluntary until your turnover reaches 100,000 BGN (approx. €51,130) over 12 consecutive months. However, if you plan to trade with other EU companies (Reverse Charge mechanism), you may need to register for VAT immediately.