Registering your own company is the first and most important step toward realizing your business idea. Although the process in Bulgaria has been significantly simplified in recent years, it still has its specifics. In this guide, we will walk through each step of the process – from choosing a name to obtaining your UIC number.
Before We Start: EOOD or OOD?
The main difference is in the number of partners. EOOD (Single Member Limited Liability Company) is registered by one person who is the sole owner of the capital.OOD (Limited Liability Company) requires two or more partners. The procedure and fees are identical.
1Choosing and Reserving a Name
The first step is to come up with a name for your company. It must be unique and not duplicate any already registered company in the Commercial Register. You can make a free check on the Commercial Register website.
Tip: Name reservation is not mandatory, but is recommended if you want a specific name and want to ensure no one takes it while you prepare the documents. The fee is approximately €26.
2Document Preparation
This is the most essential part. The set of documents for registering an EOOD/OOD includes:
- Articles of Association (for EOOD) or Partnership Agreement (for OOD) – describes the business activity, capital, management, and rights of the owners.
- Protocol from the Founding Meeting – decision to establish the company.
- Signature Specimen – this document must be notarized. This is the only document that requires a visit to a notary before registration.
- Declarations – Declaration under Art. 13, para. 4 of BULSTAT (regarding the truthfulness of the declared circumstances), Declaration under Art. 141, para. 8 of the Commercial Law (that the manager is not insolvent), and others.
3Capital Deposit (Escrow Account)
The minimum capital for registering an EOOD/OOD is €1. You need to visit a bank of your choice and open an escrow account in the name of the future company.
How Much Does It Cost?
Bank fees for opening an escrow account vary between €5 and €26 depending on the bank. The capital contribution is separate (min. €1).
4Submission to the Commercial Register
Once you have all the documents and the bank receipt for deposited capital, submit them to the Registry Agency. This is done with application Form A4.
In Person
Submit paper documents directly at an Agency office.
State Fee: €56
Online (with eSignature)
Submit scanned copies online through the Commercial Register website. Requires an electronic signature.
State Fee: €28
5After Registration
Registration usually takes 2-3 business days. After you receive your UIC number, there are several follow-up steps:
- Close the escrow account – the money is transferred to a current account that you will use for business operations.
- Accountant – sign a contract with an accounting firm or accountant.
- Company stamp – not legally required for most documents, but many institutions and banks still request it.
- VAT registration – if you plan turnover over €51,130 or will work with foreign clients, VAT registration (voluntary or mandatory) may be required.
Warning: Deadlines
If your business starts immediately (e.g., you issue an invoice), you must submit a declaration for starting activity to the NRA within 7 days (usually handled by the accountant).
How Much Does Everything Cost? (Approximate)
| Expense | Amount |
|---|---|
| Notary fee (specimen) | ~€5 - 8 |
| Bank fee (escrow account) | ~€10 - 26 |
| State fee (Registry Agency - online) | €28 |
| Bank fee (capital deposit) | ~€3 - 5 |
| TOTAL (minimum) | ~€46 - 67 |
* Prices are approximate and do not include fees if you use a lawyer or registration company (usually +€77-153).