Corporate Law

Under Bulgarian law, traders/entrepreneurs (individuals involved in trade) have the option to register as legal entities. This allows them to limit their liability and separate their commercial activities from other ventures within a distinct entity.

The process of starting a business is fairly straightforward and efficient. It lays the groundwork for your enterprise, making it important to fully understand the legal requirements. Thorough preparation and completion of documents are necessary.

Registering the company involves including the commercial enterprise in the Commercial Register.

Requirements for establishing a business: Let's start with a clear distinction. While "firm" is commonly used interchangeably with "enterprise," according to the Commercial Law, the legal definition of "firm" is "the designation of the enterprise." Your chosen name for the commercial enterprise must be unique. In the following discussion, you'll learn how to ensure this uniqueness.

The first step involves selecting the most suitable legal structure for your commercial enterprise. LLCs or EOODs are frequently chosen due to streamlined procedures and limited liability.

Starting a new business begins with preparing necessary documents, including:

• Избор на фирмено име
• Капитал (за ООД е минимум 2 лв./1 евро)
• Описание на бъдещата дейност на фирмата
• Седалище и адрес на управление (кореспондентски адрес)
• Съдружници
• Управител(и)

You can verify the availability of your chosen name in the Commercial Register. Data indicates that the most common reason for registration refusal is a preexisting name.

A key piece of advice is to avoid names containing "Group" or "Trade."

Reserving the name requires payment of a special fee to the Commercial Register.

Accurate documentation of the business description, registered office and address, partners, and manager is essential for the establishment process. This should be handled meticulously, as errors in document preparation can lead to registration rejection.

If you need assurance that all documents are correctly completed, feel free to reach out to me. This will allow you to focus your efforts on business development.

Accurate documentation of the business description, registered office and address, partners, and manager is essential for the establishment process.

For legal advice and support in Sofia or anywhere in Bulgaria, I am available to assist.

Freelancer in Bulgaria: Tailored Services for Self-Employment

Unlock personalized services for freelancers in Bulgaria, designed to empower your independent career:

1. Legal Structure Consultation: .

Expert guidance for selecting the ideal legal framework for your freelance endeavors in Bulgaria

2. BULSTAT Registration Assistance:

Seamless registration support in the BULSTAT database for enhanced visibility and credibility.

3. Residence Organization

Professional assistance with residence registration and organization for an efficient start.

4. Residence Permit Assistance:

Expert support for a straightforward application for a five-year residence permit.

5. Tax Identification:

Simplified registration with the national revenue authority for clear tax identification.

6. Value Added Tax (VAT) Registration

Support with VAT registration and transaction handling for business success.

7. Social Security Consultation:

Professional advice on optimizing your social security contributions tailored to your income.

Questions? Contact me at lawfirm@bayraktarov.com bayraktarov@rechtsanwalt-sofia.bg for prompt assistance. Start your freelance activity in Bulgaria successfully with my tailored service package - for smooth and compliant self-employment!

If you are about to start your own company, you probably realize how important it is to have legal support that guides and protects you. The law firm "Bayraktarov" aims to give you a head start with the formalities while you work on your big idea.

The intricacies of starting a business are a unique matter, and I find great satisfaction in helping entrepreneurs achieve their goals. My aim is to provide clients not only with legal advice but with a partnership they can trust.

One of the major advantages for startup companies in Bulgaria is the low tax rate of just 10%. This represents a significant incentive for financial success and business growth. 

With me, you receive not only professional legal consulting but also a partner who is ready to support you at every step of your startup's development. 

Contact the law firm today and let's together establish the legal foundation for the success of your startup