Company structure in Bulgaria
Legal basis - Civil law (German / Roman)
Legal framework - Bulgarian Commercial Code
Company form - Limited liability company (Druzhestvo s ogranichena otgovornost, OOD)
Responsibility - The shareholders' liability for the company is limited to the amount of their contributed capital.
Capital - The share capital of companies in ulgaria consists of capital contributions which must be at least BGN 2. Capital contributions must be fully paid.
Members - A Bulgarian company can be formed by one or more natural or legal persons, residents or non-residents. Membership details are made public.
Manager - A company must have at least one manager, who must be an individual, resident or non-resident.
Secretary - Bulgarian companies can appoint a secretary, but this is not compulsory.
Registered address - A company must have a registered office in Bulgaria.
General assembly - Single-member SARLs are not required to hold a general meeting. Companies with 2 or more members are required to call an annual general meeting.
Electronic signature - authorized.
Re-domiciliation - Incoming / outgoing redomiciliation is not authorized.
Conformity - Bulgarian companies must file annual financial statements and an annual report with the commercial register. However, SMEs can file simpler financial statements.
SMEs are not required to appoint an auditor and file audited accounts.
All Bulgarian companies are required to file an annual income tax return and pay their corporate taxes until June 30.
Key figures of companies in Bulgaria
|Official name||Republic of Bulgaria|
|Proper noun||Република България (bg) - Republika Bǎlgarija (bg)|
|Population||7,050,034 inhabitants (2018)|
|Population growth||-0.74 % / year|
|Density||63.56 inhabitants / km²|
|GDP||65.133 billion $USD (2018)|
|GDP / capita||9,273 $USD (2018)|
|GDP growth||3.10 % / year (2018)|
|Life expectancy||74.90 years (2018)|
|Birth-rate||9.10 ‰ (2016)|
|Fertility rate||1.54 children / woman (2016)|
|Mortality rate||15.10 (2016)|
|Child mortality rate||6.50 ‰ (2016)|
|Literacy rate||98,00 % (2015)|
|Change||New lev (BGN)|
|HDI||0,816 / 1 (2018)|
|Nature of State||Republic|
|Head of state||President Roumen Radev|
|National Holiday||September 22 (independence of 1908)|
|Codes ISO||BG, BGR|
|Tourists||8,883,000 people (2017)|
The Bulgaria is a country in Southeastern Europe located in the Balkan Peninsula. It covers part of the territory of ancient Thrace. It is bordered by the Black Sea to the east. It shares borders with Greece and Turkey to the south, Romania to the north, Serbia and Macedonia to the west. Its capital and largest urban area is Sofia.
Since joining the European Union in 2007, the country has experienced a period of unprecedented economic growth thanks to numerous investments from abroad. But the global crisis has called this good health into question, and there is still a long way to go. The concerns of Bulgarians are pragmatic, the economic crisis has affected them deeply and many people, especially young people, have emigrated to the West (mainly Germany, United Kingdom and Spain).
This strong emigration of young people has led to a drop in the birth rate, which is at its lowest, far behind overall mortality (the number of deaths is practically double that of births each year), which considerably reduces the number of inhabitants. every year. However, the fertility index rose slightly (1.53 children per woman in 2015) compared to its lowest in 2001 (1.24 children per woman). In almost 30 years, the country has lost more than 20 % of its population, or about 2 million people! And the movement continues.
Bulgaria is aging very quickly, and people over 65 have already passed 20 % (20.4 % in 2016). A phenomenon identical to that of other countries in the region is Europe.
Corporate Taxation in Bulgaria
Corporate tax rate (IS)
|Global CIT rate (%)||10%|
Corporate tax (IS) due dates
|CIT return deadline||March 1 - June 30 of the following year|
|CIT final payment due date||June 30 of the following year|
|Estimated due dates for CIT payments||Monthly or quarterly installments.|
Personal income tax rate (PPI)
|Global PIT rate (%)||10%|
Personal income tax (PIT) due dates
|PIT return due date||From January 10 to April 30 of the following year|
|IRP final payment due date||April 30 of the following year|
|Estimated PIT Payment Due Dates||Monthly for employees.|
Quarterly or annually for other individual taxpayers.
Value added tax (VAT) rate
|Standard VAT rate (%)||20|
Withholding tax rate (WHT)
|WHT rate (%) (Div / Int / Roy)||EU resident: 0 (if paid to an EU company) / 10 (0 if paid to an associated company in accordance with EU rules on interest and royalties introduced into domestic law) / 10 (0 if paid to an associated company in accordance with EU rules on interest and royalties introduced into domestic law);|
Capital gains tax rate (CGT)
|Corporate capital gains tax rate (%)||Capital gains are subject to the normal corporate tax rate.|
|Tax rate for individual capital gains (%)||ten|
Wealth / Equity Tax Rate
|Global wealth / equity tax rate (%)||N / A|
Rate of inheritance and gift tax
|Rate of inheritance tax (%)||Varies according to the category of the heir and the amount of the inheritance.|
|Gift tax rate (%)||Donation tax due to local municipalities in the order of 3.3% to 6.6%.|