Bulgaria

Ease of Doing Business in

Bulgaria

This page summarizes Doing Business 2014 data for Bulgaria. The first table lists the overall "Ease of Doing Business" rank (out of 189 economies) and the rankings by each topic. It also lists the economy's distance to frontier (DTF)** measure. The rest of the tables summarize the key indicators for each topic and benchmark against regional and high-income economy (OECD) averages.

Economy Overview

Region Europe & Central Asia
Income Category Upper middle income
Population 7,304,632
GNI Per Capita (US$) 6,870
City covered Sofia
Doing Business 2014 Rank Doing Business 2013 Rank*** Change in Rank
58 57 down -1

Doing Business 2014 DTF** (% points) Doing Business 2013 DTF** (% points) Change in DTF** (% points)
68.41 68.16 down 0.25
 

Starting a Business

Info

The challenges of launching a business are shown below. Included are: the number of steps entrepreneurs can expect to go through to launch, the time it takes on average, and the cost and minimum capital required as a percentage of gross national income (GNI) per capita.

DB 2014 Rank 65 DB 2013 Rank*** 58 Change in Rank down-7
DB 2014 DTF** (% points) 90.70 DB 2013 DTF** (% points) 90.69 Change in DTF** (% points) up0.01

Information on new business density and number of newly created firms with limited liability can be found at Entrepreneurship Database.

Indicator Bulgaria Europe & Central Asia OECD

The total number of procedures required to register a firm. A procedure is defined as any interaction of the company founders with external parties (for example, government agencies, lawyers, auditors or notaries).

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Procedures (number)
4 5 5

The total number of days required to register a firm. The measure captures the median duration that incorporation lawyers indicate is necessary to complete a procedure with minimum follow-up with government agencies and no extra payments.

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Time (days)
18.0 12.8 11.1

Cost is recorded as a percentage of the economy’s income per capita. It includes all official fees and fees for legal or professional services if such services are required by law.

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Cost (% of income per capita)
1.0 6.7 3.6

The amount that the entrepreneur needs to deposit in a bank or with a notary before registration and up to 3 months following incorporation and is recorded as a percentage of the economy’s income per capita.

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Paid-in Min. Capital (% of income per capita)
0.0 3.5 10.4
No. Procedure Time to Complete Associated Costs
1 Execute the minutes of the constituent meeting of the shareholders in the OOD; obtain a notary certified statement of consent and signature specimen of the manager, and a certified copy of the articles of incorporation of the OOD. 1 day (30 min.) BGN 5
2 Deposit paid-up capital in a bank 1-2 days BGN 10 -30 BGN (depending on the bank)
3 Register with the Commercial Register at the Registry Agency 4 days BGN 80 for electronic registration and BGN 110 for hard copy application
4 Register for VAT 1 day (filing), about 12 days for final registration no charge

** The distance to frontier (DTF) measure shows the distance of each economy to the "frontier," which represents the highest performance observed on each of the topics including Getting Electricity across all economies included in Doing Business. An economy’s distance to frontier is indicated on a scale from 0 to 100, where 0 represents the lowest performance and 100 the frontier. Read more...

***Last year's rankings are adjusted: they are based on 10 topics and reflect data corrections.

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