Ease of Doing Business in


Bulgaria Download Profile (2029.2KB, pdf)
Region Europe & Central Asia
Income Category Upper middle income
Population 7,177,991
GNI Per Capita (US$) 7,220
City covered Sofia



DB 2017 Rank



DB 2017 DTF (% points)

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Topics DB 2017 Rank DB 2016 Rank info_outline Change in Rank DB 2017 DTF (% points) info_outline DB 2016 DTF (% points) info_outline Change in DTF (% points) info_outline
Overall 39 37 down
73.51 73.08 down
Starting a Business 82 78 down
85.35 84.84 up
Dealing with Construction Permits 48 47 down
72.75 72.49 up
Getting Electricity 104 110 up
55.10 64.97 down
Registering Property 60 59 down
70.19 70.17 up
Getting Credit 32 29 down
70.00 70.00
Protecting Minority Investors 13 10 down
73.33 73.33
Paying Taxes 83 85 up
72.81 72.81
Trading across Borders 21 21
97.41 97.45 down
Enforcing Contracts 49 49
67.04 67.04
Resolving Insolvency 48 47 down
59.38 58.93 up

Positive= Doing Business reform making it easier to do business.Negative= Change making it more difficult to do business.

DB 2017 Rank:


DB 2016 Rank:


Change in Rank:


DB 2017 DTF (% points):


DB 2016 DTF (% points):


Change in DTF (% points):


Legal form Druzestvo s Ogranichena Otgovornost (OOD)
Paid-in minimum capital requirement BGN 2
City Sofia
Indicator Bulgaria Europe & Central Asia OECD high income
Procedure – Men (number) info_outline 7 4.9 4.8
Time – Men (days) info_outline 23 10.2 8.3
Cost – Men (% of income per capita) info_outline 1.3 4.7 3.1
Procedure – Women (number) info_outline 7 4.9 4.8
Time – Women (days) info_outline 23 10.2 8.3
Cost – Women (% of income per capita) info_outline 1.3 4.7 3.1
Paid-in min. capital (% of income per capita) info_outline 0 4.0 9.2
  • No. Procedure Time to Complete Associated Costs

    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.

    Agency: Public Notary

    Each newly appointed general manager must sign and submit the following affidavits:

    (1) affidavit under Article 141 of the Commercial Act, where the general manager declares that (s)he has not been declared in bankruptcy and (s)he has not been a general manager, a member of a managing or controlling body of a company, dissolved because of bankruptcy during the last two years preceding the date of the resolution declaring the bankruptcy, and that, in addition, (s)he has not been a general manager or a member of a managing or controlling body of a company, that has been ascertained by an effective and enforceable penalty decree as not complying with such company's obligations for establishment and storage of the determined levels of reserves under the Bulgarian Law on Reserves of Oil and Oil Products;

    (2) affidavit under Article 142 of the Commercial Act where the general manager declares that without the prior consent of the company (s)he will not (i) enter into commercial transactions either in his/her personal capacity or on behalf of third parties; (ii) participate in general partnerships, limited partnerships and limited liability companies; and (iii) occupy positions in the managing bodies of other partnerships or companies; and

    (3) affidavit under Article 13 paragraph 4 of the Commercial Register Act to declare that the circumstances, as would be applied for registration in the Commercial Register and the adoption of the acts as would be applied for promulgation therein, are genuine and true.

    1 day BGN 5

    Deposit paid-up capital in a bank

    Agency: Commercial Bank

    The capital-accruing bank account must be opened either by the company manager or by a person authorized by a notary-certified power of attorney. Those persons delegated authority over the bank account must provide a signature specimen in person or a notary-certified specimen. The amount of capital stays blocked in the bank account until the registry issues a decision on the company registration. The Commercial Act requires the minimum capital prescribed by law, i.e. BGN 2, to be paid-in prior to incorporation. After opening the escrow account and depositing the funds therein the company under incorporation is issued a certificate evidencing the shareholders' deposit of the capital. The certificate must be presented at the registry.

    1 day BGN 10 -30 BGN (depending on the bank)

    Register with the Commercial Register at the Registry Agency

    Agency: Registry Agency

    The registration is done using a Standard Application (A4 Form – "Application for registration of circumstances
    related to a limited liability company").

    The following documents must be attached to the application:
    (1) Agreement of Association,
    (2) Resolution for appointment of manager(s),
    (3) Notary certified consent and signature specimen of manager(s), and
    (4) Bank certificate for deposited capital.

    The state fees are BGN 110 if the documents are filed with the Registry Agency on paper or BGN 55 if the registration documents are filed with the Registry Agency electronically.

    The following affidavits by each of the appointed general managers of the company must also be attached to application A4: Affidavit under Article 141 paragraph 8 of the Commercial Act; Affidavit under Article 142 of the Commercial Act; and Affidavit under Article 13 paragraph 4 of the Commercial Register Act.

    As of January 1, 2016 the applications for initial registration of companies have to be reviewed by the Commercial Register officials by the end of the next business day following submission of the application.

    2 days BGN 55 for electronic registration and BGN 110 for hard copy application

    Register for VAT

    Agency: National Revenue Agency

    The Value Added Tax Act (promulgated on August 4, 2006 in State Gazette issue 63) became effective on January 1, 2007 (Bulgaria's EU accession date). Under this new law, the company may voluntarily register for VAT purposes at any time, because the current threshold requirement has been abolished. A voluntarily registered person shall remain VAT-registered for 24 months starting from the beginning of the year following the year of VAT registration. The company must register for VAT purposes in Bulgaria if its turnover for 12 consecutive months exceeds BGN 50,000.

    Specific grounds for obligatory registration for VAT purposes apply when:
    - A person from an EU member state who is not established in Bulgaria and provides taxable supplies of goods that are to be assembled or installed in Bulgaria by that person or at his or her expense (if the recipient is not registered for VAT in Bulgaria).
    - A person from another EU member state supplies goods to Bulgaria exceeding total value of BGN 70,000 under the conditions of distance sales of goods within a given calendar year.
    - A person (whether resident or not) performs taxable intra-community acquisitions in Bulgaria exceeding BGN 20,000 within a given calendar year.
    - A person (whether resident or not) receives supplies of services under chargeable supplies having place of performance on Bulgarian territory with respect to which the VAT is due by the recipient.
    - A Bulgarian resident performing supplies of services having place of supply the territory of another EU member state.

    12 days no charge
    * 5

    Purchase and register fiscal device (cash register)

    Agency: Authorized seller

    Ordinance No. 18 of 2006 (amended SG49, June 29, 2010 for registration and sales register in the commercial objects through fiscal device) on the recording and reporting of sales mandates that companies conducting commercial activities register their cash register machine. Once the company has purchased the fiscal device from an authorized seller, representatives of the authorized seller install the device. After installation at the company’s premises, the registration of fiscal device with the National Revenue Authority is performed electronically. After verifying that the established connection is in line with the technical and functional requirements set by the National Revenue Authority, a confirmation of successful registration is sent to the user. The final step to complete the registration is to obtain a standard certificate of registration, which is provided by the authorized seller. Such certificate is usually given the day after the registration of the fiscal device with the National Revenue Authority. The company has no right to report sales via a cash register or fiscal printer introduced for work after the purchase or change of ownership, without a certified certificate of registration.

    2 days BGN 50 - 200
    * 6

    Register employees with NRA

    Agency: NRA

    Company has to register employees with NRA within 3 days from conclusion of the employment agreement. This requirement is based on the Bulgarian Labor Code, article 62, para 3 and 5. The registration of employees with NRA has a notification nature, and is done using a specific form as determined in the Attachment 1 of Ordinance No. 5 on the rules for submission of notifications to the National Revenue Agency (“NRA”), related to the terms and conditions for registration of the employment agreements. The following information should be inserted in the notification:

    - Name of the company, Unified Identification Number (UIC) of the company and the number given by the NRA to the employer in its capacity of insurer;
    - Date of conclusion of the employment agreement;
    - Legal grounds for conclusion;
    - Personal data of the employee;
    - Basic salary;
    - Employee’s position and code of the position.

    Companies can register employees with NRA either online on a specific page (https://inetdec.nra.bg/), by mail, or in person (by visiting the competent territorial directorate of NRA). In case the notification refers to five labor agreements simultaneously, then it should be sent though the website with electronic signature or on a soft copy.

    After submission of the notification, the NRA shall issue a reference note (sample set as Appendix No. 3 to the Ordinance 5) containing a list of the certified notifications and a list of the notifications which have not been accepted /if any/ containing a description of the reason for non-acceptance. The reference note shall be certified by an official of NRA and shall be presented to a representative of the employer or it shall be sent by a registered mail or by Internet.

    Less than one day (online procedure, simultaneous with previous procedure) no charge

    Register Commercial Object of the company

    Agency: Sofia Municipal Council

    Companies need to register the commercial object with the Sofia Municipal Council in order to inform the municipality about the type of activity the company will perform. The following documents are needed to complete the registration process.

    - Application form;
    - Declaration, Registry Agency Certificate,
    - Registration certificate of the fiscal device.

    7 days no charge

    * Takes place simultaneously with previous procedure.