By using the company's services, I learned that starting a business isn't so difficult when you have someone to guide you. I had a great experience, and the result was worth it!
⚠ The TOP 7 mistakes when starting a business in Bulgaria:
- No one tells you about!
The details no one will tell you! Learn all this and more in your free initial consultation with one of our experts.
Free initial consultation
'/></svg>)
By using the company's services, I learned that starting a business isn't so difficult when you have someone to guide you. I had a great experience, and the result was worth it!
I need to improve my English! I can only get by halfway with my broken English... The GO EU team is super friendly and helpful. One star deducted because they don't have enough German-speaking tax advisors.
I've had bad experiences with an offshore company before. I'll give this one another try. The contact seems quite professional and competent – so far. I'll keep you posted...
Daily regulatory hurdles, cease-and-desist letters, customer threats, and excessively high return rates in Germany almost forced me to close my business. The 1% model saves me a fortune in taxes, makes me significantly more profitable, significantly reduces return rates, eliminates cease-and-desist letters, and removes all the business-unfriendly harassment.
Where can I speak with one of your consultants? I'd like to see the prices and discuss the advantages. Is it better than having a company in Dubai?
Greetings to the GO EU team! Implementation was quick and easy. The accounting is world-class; I was able to submit all invoices. Thank you!
Many foreign founders use virtual offices without checking whether these comply with the standards of the Bulgarian Commercial Register.
This causes problems when the authorities later declare these addresses invalid during verification.
In Bulgaria, the general rule is: There is no way, as in Western Countries, to simply put a name on a mailbox to activate the address.
Quite the opposite is true: A company's registered office should be legally reviewed to ensure it can withstand scrutiny by the tax authorities.
Furthermore, it should offer substantial evidence, meaning a lease agreement with documentation of the rented premises should be drawn up.
➜ Recommendation: Our company headquarters are directly attached to a law firm, so that mail can be responded to and translated immediately. This is part of our founding concept.
The details no one will tell you! Learn all this and more in your free initial consultation with one of our experts.
Free initial consultationWhen founding a company, regardless of the country, a notarial deed is required in most cases
– especially for corporations such as a limited liability company.
For the following processes: 1. Company registration, 2. Application for a VAT ID number, and 3. Authorization of a
state-approved tax advisor, a
notary appointment is required in each case!
As a rule, doing it remotely means: making a new notary appointment in
the hometown each time, hiring an interpreter from the Bulgarian
embassy and having an apostille affixed at the district court.
➜ Online notarization including apostille is an integral part of our business formation concept.
The details no one will tell you! Learn all this and more in your free initial consultation with one of our experts.
Free initial consultationApplying for a VAT ID requires a further appointment with a notary.
Once the company is founded and the appropriate accountant has been chosen for tax support, it means: I must be appointed
by means of a notary appointment to be your tax advisor for your company. And in the next step, you will hear again from your Bulgarian accountant:
"I need to apply for your company's VAT ID now. Can
you come to Bulgaria to see a notary? And then quickly go to your local notary at
your home?"
➜ Recommendation: Apply for a VAT ID number during incorporation via a second digital notary appointment
and authorize the tax advisor remotely, without travel, via an online notary's office.
With a 10% corporate tax on profits and
a 5% dividend tax on profit distributions, Bulgaria has the lowest tax rates in all of Europe.
This corresponds to a total tax burden of approximately 15%, or slightly less if costs are deducted.
Bulgaria has a personal income tax rate of only 10%.
➜ In conjunction with a US LLC and a Bugarien setup, the overall tax burden can be further reduced.
(Subject to compliance with and implementation of certain regulations, like type comparison)
Bank account opening, bookkeeping and submission of annual financial statements, balance sheet, application for tax identification number,
VAT ID and postal translations and forwarding.
These are all typical tasks that, in some cases, occur every year.
➜The points mentioned above are part of our founding concept.
Also included is live support from our tax experts and accountants.
In Bulgaria, social security contributions are based on a person's salary, but are subject to a maximum limit.
Explanation regarding the salary ceiling: Regardless of how much a person earns above this limit,
social security contributions are only calculated up to the maximum limit of 4130 BGN.
For salaries between €3,000 and €10,000, social security contributions are only between 10-20%.
➜ The points mentioned above are part of our founding concept.
Operating costs for businesses in Bulgaria are lower compared to other EU countries,
including the costs of services such as accounting, legal advice and virtual office facilities,
which are essential for managing a business.
Companies can benefit from hiring employees from Bulgaria, as there is a high level of education and lower wage expectations there.
➜ The points mentioned above are part of our founding concept.
We receive almost the same number of inquiries: "We already have a company in Bulgaria!" Can't you help? Good tax advisors are hard to find everywhere, but the mentality in Bulgaria is somewhat different. Many transactions are still done manually, which means that conscientious accountants often have to raise their prices disproportionately to take on new clients.
For everyone else, setting up a business remotely means: scheduling a notary appointment yourself, hiring an interpreter from the embassy, and having the document apostilled at the local court —as well as covering all the additional costs yourself. With us, it's different: Digital notary appointments cover all these points, cost three times as much, but are included!
A Bulgarian OOD offers you a limitation of liability similar to that of an LLC, thus protecting your private assets from the company's liabilities.
The details no one will tell you! Learn all this and more in your free initial consultation with one of our experts.
Free initial consultation- Complete company formation
- Name registration
- Lawyer and notary fees
- Deposit of share capital
- Commercial Register Entry
- Premium business address
- Opening a bank account at a direct bank
- Mail forwarding & translation
- Expert support & assistance
- as well as 20 minutes of business advice in international tax law included!
Daniel Maier
Thomas Hofmann
Adil Hussain
Cezar Stefan
Sebastian Mates
Are you a resident in Western Country? And still want to save on taxes? Yes! Find out all this and more in a free consultation with our experts!
Book a free consultation
In Bulgaria, there is also an accounting obligation, similar to all western countries. Limited liability companies such as OODs require monthly accounting records as well as annual financial statements and a balance sheet.
Our European branch, as the name suggests, deals with business start-ups and emigration within Europe.
Book a free and non-binding initial consultation where we can discuss your questions and requirements.
One of our experts will assess your current situation and work with you to explore which countries and options exist to achieve tax savings.
Consultations are always cross-border. In all cases, setting up a company in Bulgaria is not always the best option.
