Thanks to the investment policy of the state, a transparent legislative system and a European standard of living, business in Bulgaria is of interest to many citizens of Europe and the CIS. Entrepreneurs with a minimum start-up capital dream of starting their own business and earning money on the territory of the Balkan Peninsula. However, in order to achieve this goal, you need to have a good knowledge of the banking sector in Bulgaria, tax rules and the mentality of the local population.
The main nuances of doing business in Bulgaria
A simple and understandable taxation system, currency stability and a favorable geographical position open up great opportunities for business in Bulgaria. Having on hand from 2000 euros, you can open your own restaurant, a consulting company or a company selling used cars in just a month.
If a foreign citizen has invested more than 250,000 euros in the economy, he is guaranteed to receive a residence permit in this country (Law "On Foreign Investments").
Private entrepreneurs are required to pay tax on income from commercial activities. The tax rate is the smallest among all EU countries and is only 10%. Corporate tax is also set at 10% and VAT at 20%. Therefore, it is not surprising that business in Bulgaria with minimal investment is very popular.
To clearly demonstrate how attractive Bulgaria is for doing business, let's analyze the ranking of European countries in terms of income tax. The rating is based on data provided by the statistical and fiscal authorities of these countries and Eurostat. Here are the maximum, average and minimum values.
| A country | Maximum income tax rate (%), 2014 |
|---|---|
| Sweden | 56,9 |
| Denmark | 55,6 |
| Spain | 52 |
| France | 50,3 |
| Cyprus | 35 |
| Poland | 32 |
| Ukraine | 25 |
| Czech | 22 |
| Lithuania | 15 |
| Belarus | 12 |
| Kazakhstan | 10 |
| 10 |
It must be said that the potential of Bulgaria is simply huge! The tourism and construction business, the textile and chemical industries, and the transport industry are actively developing here. And the most attractive cities for citizens who want to organize a successful business in Bulgaria are Burgas and Varna.
Territorial and economic features of doing business in Bulgaria
The Valley of Roses, as Bulgaria is also called, is famous primarily for its resorts. In summer, lovers of warm water and bright sun come to the Black Sea coast, and in winter, when the air temperature drops to below zero, areas located near the ski slopes intercept the palm. Every year in the resort areas of Bulgaria new restaurants, hotels are opened, new places for a comfortable stay, amusement parks, beauty salons, offices of travel companies, aimed at both budget and wealthy tourists, appear. Such entrepreneurial activity is explained by the fact that the financial service and maintenance of the company in Bulgaria is quite inexpensive.
If we consider the more "deaf" areas of Bulgaria, then farms are very popular there. Importing vegetables and fruits grown in an ideal climate is a fairly profitable business. Of no small importance is the fact that all merchants whose turnover is less than 50,000 leva (about 25,000 euros) for the reporting period (year) are exempt from paying VAT. 
How to organize a business in Bulgaria legally
The country's authorities have created fairly loyal conditions for doing business. Particularly impressive is the work of regulatory, judicial and executive authorities that protect entrepreneurs from unscrupulous competitors by pursuing a nationwide investment policy.
Few of the residents of the CIS who have decided to do business know exactly what to do in Bulgaria and what kind of business to open. Therefore, most of our fellow citizens are interested in how much money they need for this and what documents should be prepared. To answer these questions, it is necessary to consider in more detail the legislative norms relating to the organization of business.
Thus, the legislation of Bulgaria provides for several forms of ownership of enterprises (organizational-legal) allowed for establishment by foreigners:
- Collective society (collective friendship - SD). It is created, as a rule, by co-founders who are well acquainted with each other (from 2 people). Working relationships are regulated by the charter agreement. The founders bear the same responsibility for the obligations. The minimum amount of starting capital is not regulated by law.
- Joint-Stock Company (Joint-Stock Friendship - AD). The founders of AD can be both legal entities and individuals. To establish an AD, you need to have at least 50,000 leva (about 25,000 euros). Managed by the shareholders' meeting. The shareholder with the most shares has the most weight. Shares can be freely bought and sold.
- Limited society (commandite friendship - KD). It is created by the founders, who bear the same responsibility for obligations, and some are unlimited, while others are responsible only for the amount of their own contribution. The responsible co-founder has unlimited managerial rights.
- Limited company with shares (Commandite partnership with shares - KDA). It is formed by signing an agreement between the co-founders. An act-charter is necessarily created, which contains a description of the powers, information on the amount of capital, as well as the type and number of shares. The minimum capital to set up a company is BGN 50,000 (about EUR 25,000).
- Limited Liability Company (Friendship with Limited Excuses - OOD / EOOD). The most demanded form of activity, since the minimum amount of capital is 2 leva (about 1 euro). Co-founders, who are liable for obligations only with the amounts paid, do not have to participate in the management of the company. Minimal changes in constituent documents are registered in court.
- Private entrepreneur (Single-person trader - ET). By law, it is established by a foreigner with permanent residence status, or a citizen of Bulgaria. The amount of capital does not matter. ET is only liable for personal property. The name of the company must consist of the name and surname of the founder.
The founders of firms can be citizens of Bulgaria or other countries who have passed the procedure for registering an enterprise in the commercial register (by decision of the district court) or who have bought a ready-made business.
After registration in the register, you need to be registered with the statistical office, the pension service and the tax office. In addition, a bank account must be opened for financial and economic activities.
Bulgarian banking system: a brief overview
According to the Bulgarian People's Bank, there are currently 30 banks operating in Bulgaria, including 24 licensed banks and 6 branches of foreign banks. 73.3% of assets are controlled by international financial institutions, which indicates a favorable environment for doing business.
Now the banking system in Bulgaria is slowly recovering from the recession. According to the analytical department of Raiffeisen Bank International, economic growth remains weak, but the outlook is positive.
Bulgarian banks are willing to issue loans for up to 30 years and offer a wide range of business services. 
What type of business is most attractive for CIS citizens in Bulgaria
As evidenced by the reviews of immigrants from the CIS, in Bulgaria you can "unwind" absolutely any idea and create a stable, highly profitable business. The main thing is to show a little imagination, attract qualified consultants, invest money correctly and take into account the needs of potential customers.
The similarity of the Slavic mentality, as well as the absence of a language barrier, greatly simplifies doing business. In Bulgaria, the Cyrillic alphabet is used, so all the inscriptions are applied in the usual Russian letters. Quite often there are signs in Russian, because the lion's share of local residents and tourists understand Russian.
Market research will help you choose the right business niche. Until the 2000s, CIS citizens sought to open their own cafe, beauty salon or family hotel on the Balkan Peninsula, usually focusing on the needs of vacationers. However, over time, companies engaged in real estate, consulting and other types of business have become more popular.
Often, immigrants from the CIS open bakeries, provide logistics services, perform repairs and decoration of apartments, develop and maintain websites. Quite often, the owners of shops, car services, dental clinics and kindergartens in Bulgaria are our compatriots.
Now many entrepreneurs are striving to open a company in Bulgaria to buy a car, because this type of business requires practically no costs, but it brings solid benefits. As you know, in Bulgaria you can buy a good used car for several thousand euros (almost three to four times cheaper than in Western Europe). Therefore, the scheme, according to which a car is bought for a Bulgarian company, and then this vehicle is operated on the territory of another state (by proxy), has become very popular.
As practice shows, registration of a company in Bulgaria by a citizen of Ukraine, Russia, Belarus or a native of another CIS country takes up to a month. If a competent employee handles paperwork and other organizational issues, you just need to present a foreign passport and deposit funds into the company's account (authorized capital).
The number of co-founders of the company is not limited by law (there may be 15, or 35, or even more), and dishonest intermediaries take advantage of this. At the same time, all co-founders receive the legal right to drive a vehicle that is the property of the company. Therefore, becoming a co-founder of a Bulgarian company is unprofitable, because when you try to sell a car, you will need to gather all the owners and obtain official permission to carry out a sale and purchase transaction. And collecting all the signatures is often simply not impossible.
How to register a business in Bulgaria
According to statistics, investments in Bulgaria in 2019 should exceed the figures for investments in 2018. And all because the attractiveness of the region is growing, the financial opportunities of citizens are increasing, and an active propaganda policy is being carried out aimed at increasing the inflow of foreign capital.
In order to quickly and without unnecessary hassle to create their own company, some citizens use the services of legal organizations. However, there are people who seek to open a company in Bulgaria on their own. And in part they are doing the right thing, taking the situation into their own hands.
To open a company on your own, it is enough to study the legal aspects of this issue and follow the instructions developed by experienced specialists:
- first, you need to come up with and register a unique name;
- secondly, to choose a suitable organizational and legal form of doing business, in order to simplify its process and taxation later.
- thirdly, get a legal address, register a company in all instances, choose seals and stamps, open a bank account.
The process of organizing a business abroad is quite long and tiring, so if you are too busy or just want to get rid of unnecessary troubles and worries, it is better to use the services of specialists who, for a small fee, will help you register a new company, buy or sell a ready-made business. 
Buying and selling a business in Bulgaria: pros and cons
Sometimes it is much more profitable to acquire a ready-made business in Bulgaria than to create your own company from scratch. After all, an already established mechanism is much easier to keep afloat than to experiment every day, trying to win a certain market share.
The company must be chosen carefully and slowly, since the price of a ready-made business varies quite seriously and depends on the field of activity. So, for example, a small shop will cost about 20,000 euros, a villa in a resort - 70,000 euros, and a modest bar - 50,000 euros.
Of course, the sale of a business in Bulgaria is fraught with many "pitfalls" - for example, if the owner significantly underestimates the value of the company. In this case, you need to analyze the business reputation of the company, check for debts, and also read the recently adopted laws - perhaps this type of business has been banned or artificial restrictions have been created for it by the state.
Experts recommend acquiring young promising companies that were created specifically for resale. Heads or managers of such companies often provide legal, financial and advisory support, helping Ukrainians, Russians, Belarusians to buy a business in Bulgaria at an affordable price.
Features of obtaining a business visa
To carry out commercial activities in the territory of another country, you will need to apply for a business visa by submitting a full package of documents to the embassy, the main of which is an invitation from a foreign organization or business partner.
It should be clearly understood that business visas are single, double and multiple (multivisas). Documents for obtaining a visa can be submitted personally by the applicant, the applicant's authorized representative (if there is a power of attorney on company letterhead) and a third person who has received the right to officially represent the interests of the applicant.
A business visa allows you to stay in Bulgaria for up to 90 days (every 6 months), so it cannot be considered as one of the options to enter the country for permanent residence.
What documents are needed to obtain a visa
In order to enter the territory of Bulgaria, it is necessary to obtain a visa. To do this, it is necessary to prepare documents in Russian or Bulgarian in advance in order to subsequently submit them for consideration to the responsible person.
Be sure that obtaining a visa will give you only positive emotions if you submit the full package of documents indicated on the consulate website, namely:
- a completed visa application form (surname and name - as in the passport);
- copies of purchased tickets, hotel reservations;
- 1 color photograph 35x45 mm, fingerprints;
- original passport and a copy of the first page;
- an invitation from a business partner (issued in accordance with all the rules);
- medical insurance covering costs in the amount of 30,000 euros;
- documents confirming the availability of funds (certificate of employment, bank statement, etc.).
Business in Bulgaria with a residence permit
If you are planning a trip to Bulgaria for a long time in order to obtain a residence permit and organize a business without any restrictions, it is better for you to apply for a category “D” visa. In this case, you can independently register a company and do what you love without resorting to the services of intermediaries. Remember: a residence permit is issued within a month and is valid for exactly 1 year (extension for a similar period is possible).
To feel comfortable in a foreign land, it is better to buy an apartment or a villa in this country, but for this you need to know the specifics of the legal registration of a guest house in Bulgaria. By law, foreigners can freely acquire any real estate without land (for example, apartments, apartments), however, in order to obtain ownership of a private house with a land plot, mandatory registration of a legal entity is required. You already know exactly how to do this by carefully reading our article and drawing the appropriate conclusions.
Residence permit in Bulgaria. Obtaining a residence permit in Bulgaria: Video
Business in Bulgaria can become one of the grounds for immigration. Many people rely on the fact that the republic belongs to the European Union, close linguistic environment and the understandable mentality of the Bulgarians, while others consider this the best option for a stable income and earnings for immigrants.
Benefits of doing business in the Republic of Bulgaria
Every year more and more Russian-speaking entrepreneurs strive to find their niche on the economic map of Bulgaria. Someone wants to establish their own company, and someone intends to buy a ready-made business or open a sales office in Bulgaria.
There are several reasons for moving on the basis of business migration:
- territorial proximity;
- understandable mentality and common language environment;
- the state's interest in investors;
- Bulgaria's membership in the European Union;
- the ability to sell goods and services to other European countries under a free trade agreement;
- high probability of the country joining the Schengen area;
- democratic taxes;
- development of the local economy, which provides a large selection of areas for business.
Business in Bulgaria for Russians can be directed to compatriots. But those who do not intend to be limited to ordinary retail can benefit from the above factors.
Choosing a direction
Finding a job in a new country can sometimes be quite difficult. Therefore, many migrants with a certain reserve of funds seek to establish their own small business that can provide a steady income.
The key rule when choosing a field of activity can be formulated as follows: it is better to do what you already have experience in. So, here are some examples of what business can be opened in Bulgaria by Russians:
- Repair and decoration of apartments. Today the market is filled with large companies that provide services to the same large customers. But there is practically no one to do the finishing work in the apartments of ordinary citizens. For this reason, there is a steady demand for painting walls, replacing electrical and plumbing fixtures, installing furniture, and other chores.
- Beauty salons, nail service, hairdressing services. A master with good experience can start earning at home. Residents of Bulgaria pay no less attention to their appearance than the fair sex in other countries. The main thing is to gain customers, and then you can go to a larger level.
- Those who are planning a business in Sofia can consider the option of a computer and office equipment repair company. The Bulgarian capital is the business center of the country. There are many offices and business centers here, but there are not enough those who are ready to service office equipment.
- Catering business. But it should be remembered that it would be a big mistake to focus the institution exclusively on Russian-speaking migrants. It is better to think over the concept in advance in order to satisfy the needs of a wider mass of the population than a small number of their compatriots. The restaurant business in Bulgaria will generate income only if it is located in a good location (look for locations that do not depend on the tourist season).
- Car service. The country has a large number of used cars that need maintenance. If you have certain knowledge and skills in this area, you can establish a stable business.
- Private kindergarten. The problem of organizing the time of preschoolers is acute in almost every country in Europe. Those who have a special education and suitable real estate should think about this type of income.
- A clothing store is another option for doing business in Bulgaria. The advantage will be the proximity of Turkey, which can become the main supplier of products.
- Transport logistics. There is a great demand for transportation services in Bulgaria. It is important that light vehicles are available that can deliver products to shops, cafes and restaurants.
- Cars sale. Those who “driven” cars from Europe in their homeland can continue to do so here. The acquisition of vehicles, even if used, but in good condition, is a hot topic for Bulgarians. Opening a company in Bulgaria for buying cars from the EU by the local population can be a profitable business.
You need to be extremely careful with the tourism sector. If you plan to open a small hotel, it is worth remembering that, most likely, you will have to buy a ready-made building. And the cost of real estate in resort areas is not so small. Even with the most modest scale, such a project will begin to pay for itself in at least 10 years.
Farming and agriculture also require careful analysis and planning. After integration into the EU, some quotas for the import of products from Bulgaria were limited, and there may be difficulties with sales markets.
Choosing an organizational form
Let's say you decide to open a cafe in Bulgaria or a souvenir shop. The next thing to do is to determine what legal form your business will have. Briefly, each of them is considered in the table:
| Form of company organization | Description | Responsibility | Authorized capital |
|---|---|---|---|
| ET or "Solitary trader" - a private trader | Almost completely corresponds to Russian individual entrepreneurship. The name of the subject coincides with the name of the owner, who is the sole founder. | Complete | Not regulated |
| SL or Collective friendship" - general partnership | The founders are at least 2 people. | Complete | 2 leva/1 euro |
| AD or Joint-Stock Friendship in Bulgaria - a joint-stock company | Founders may be non-residents. | Under the ownership of a joint-stock company. | 50 thousand leva/25570 euro |
| KD or "Commandite friendship" - limited partnership | The founder and manager is one shareholder (commander), who attracts other entrepreneurs (limited partners) to the business. | For the commander - full responsibility, for the rest - limited. | not regulated |
| KDA or "Team friendship with shares" - an analogue of LLC in Bulgaria). | The founder is one chief commander, who is also the manager of the company. The board also includes 3 shareholders. | For the main shareholder - full, for the rest - partial. | 50 thousand leva / 25570 euros. Of these, half is paid immediately. |
| EOOD or OOD - "Solely Friendship with Limited Excuses" - a limited liability company. | The main requirement is the creation of 10 jobs for the citizens of the country. | Under company ownership. | 2 leva / 1 euro. |
In addition, a foreigner can open a branch of a foreign company in Bulgaria.
Let's pay attention to the following points:
- a foreign person who has received permanent residence can register as an ET. He will have to pay 10% of the company's income.
- limited partnerships are more suitable for family businesses of Bulgarian citizens.
- for foreigners, AD and EOOD in Bulgaria are the most suitable options, since the founders in this case can apply for permanent residence status.
How to open a business for a foreigner
Registering a company in Bulgaria is a simple procedure. It can be carried out directly by the owner or by an intermediary firm offering to do it on a turnkey basis. It makes sense to resort to her services for those who do not speak Bulgarian and are not strong in local legislation.
Bulgarian company law provides for the following procedure:
- Creation of the company name. A complete list of already operating enterprises is contained in the Trade Register of the Republic. It is important that there are no repetitions and that the name in Bulgarian sounds harmonious.
- Clarification of the full list of founders and the share of their participation in the business.
- Formation of capital to create a company (its size is indicated in the table above).
- Determination of the legal address. Most often, this is the place of residence of the main founder.
- Coordination of the list of activities that the enterprise will be engaged in. Here you will need to list all the directions. Check if they require a license.
At this preparatory stage, how to open a company in Bulgaria for Russians, ends. You can go to the main part of the process:
- Open a savings account in a Bulgarian bank and deposit authorized capital funds into it. It is advisable to keep the payment receipt.
- Pay the fee of the Commercial Register, in which the company is to be registered.
- With a receipt of the paid fee, you must visit one of the branches of this organization (available in all major cities) and fill out the A4 form - an application for registration of the company.
Based on the application, the company is assigned an identification number - EIC. After that, the Commercial Register will issue a certificate. The process ends with the issuance of a seal and the opening of a current account.
Documents and issue price
Registration of a company in Bulgaria involves the preparation of the following package of papers:
- Declaration, which should indicate the name and surname of the applicant, his citizenship, place and date of birth, data of the foreign passport, address of residence.
- Declaration that the founder of the company was not in a state of bankruptcy and did not take part in suspicious transactions with petroleum products.
- Confirmation that the founder has read Art. 142 of the Law “On Trade”, which states that the manager makes all decisions only with the consent of the society.
- The charter of the company in two copies.
- Agreement with the head of the company.
- Transcription from the bank account to which the funds of the authorized capital were deposited.
- The decision of the owner to establish a company.
- Card with a sample signature of the founder.
The last document must be notarized.
The cost of opening a company in Bulgaria includes the following fees:
- name registration - 25-50 leva (13-26 euros);
- opening a bank account - 10 leva (5 euros);
- Fee of the Trade Register - 110 BGN (56 EUR) when applying in paper form and 55 BGN (28 EUR) when sending an electronic request;
- fee for issuing a certificate of the current state of the company - 7 leva (4 euros).
Instead of creating their own business, some are considering the option of buying a ready-made business in Bulgaria. The prices for such an acquisition may seem quite acceptable to many:
- a small cafe in the capital - about 70 thousand euros;
- dairy production plant - almost 2.5 million euros;
- a medium-sized hotel - 600 thousand euros.
A purchase from 600 thousand euros provides the entrepreneur not only with a permanent income, but also makes it possible to obtain a residence permit in a simplified manner. But there are two points here. First, not all businessmen have that kind of money. Secondly, why is a profit-making object put up for sale?
Before buying a restaurant in Bulgaria or any other enterprise, it is necessary to find out the financial condition of the business, the reasons why it is being sold, as well as its demand in the local and European market.
Bulgarian banks
To date, according to the National Bank of Bulgaria, there are 30 banking institutions in the country. Of these, 24 banks are licensed structures, and 6 more are branches of foreign banks.
On average, 73.3% of all assets are controlled by international financial institutions. This once again confirms that doing business in Bulgaria is a safe undertaking due to the comfortable economic environment. In addition, the sale of a business in Bulgaria to foreigners today is also possible on credit.
The work of the banking sector in the country is gradually recovering after a long decline. According to the results of a study by the analytical department of Raiffeisen Bank International, the growth of economic indicators is still weak, but positive changes are obvious. At the moment, banks in Bulgaria provide loans for 30 years and offer various service programs for entrepreneurs.
What you need to know about doing business in Bulgaria
Bulgarian legislation complies with European standards and is aimed at protecting entrepreneurs and investors. Those who wish can start their activities by receiving special education in one of the country's business schools.
Intending to launch a business project, it is necessary to take into account the peculiarities of the local mentality:
- punctuality - Bulgarians are very demanding on timely arrivals for a meeting; if you feel that you are late, it is better to call back and reschedule it;
- dress code - in this respect, Bulgaria is hardly different from other European countries. Preference is given to business clothes in dark shades;
- language – most of the negotiations are conducted in Bulgarian. Many locals speak Romanian and Turkish, the generation over 40 speaks Russian, the younger generation of entrepreneurs actively use English;
- non-verbal communication - it should be remembered that moving the head up and down here means "no", and to the sides - "yes".
- purchase shares of a Bulgarian company;
- buy municipal or government bonds with at least 50% participation of the state or municipality;
- become the owner of Bulgarian intellectual property;
- invest in investment portfolios in credit institutions for a period of 5 years.
- corporate income tax - 10%. For those who operate in regions with an unemployment rate of 35% or more, the state provides tax incentives, sometimes up to 100%. Farmers and companies that employ people with disabilities can get help.
- VAT - 20%. In relation to some enterprises, a rate of 9% is applied. These include, for example, hotels and hostels. Companies operating in the field of international transport and those that export goods outside the EU receive full exemption from VAT.
- Income tax - 10%.
- The tax on received dividends is 5%.
Conditions for investing in the Bulgarian economy
In 2009, the Bulgarian government made some changes to the Law on Foreign Citizens. They touched upon the types of investments that need to be made in order to obtain a residence permit, permanent residence, Bulgarian citizenship.
To obtain legal status, you must:
New amendments to the law not only expanded the list of investments, but also increased their minimum threshold from 350 thousand euros to 1 million leva (511,298 euros). In the case of buying shares of Bulgarian companies, the investment volume should reach 6 million leva (3,067,788 euros).
Innovations canceled the mandatory stay in the country for investors and their families for six months. Obtaining permanent residence and the obligation to reside on the Bulgarian territory without fail are no longer interconnected.
taxes
The tax policy of the Republic of Bulgaria is attractive and one of the most loyal in Europe. With more than 60 world powers, Bulgaria has signed an agreement on exemption from double taxation.
In 2019, the tax rates look like this:
Results
Entrepreneurship in Bulgaria means access to the European market and the opportunity to work under one of the most loyal tax systems in Europe. You need to start by choosing the field of activity and economic form, registering the company in the Commercial Register. Investors in Bulgarian enterprises are provided with a preferential procedure for legalization when investing capital in the local economy in the amount of 500 thousand euros.
How to register a company in Bulgaria: Video
A fairly large number of people whose native language is Russian successfully open and run their own business in European countries (Bulgaria is one of them).
- 1. Benefits of doing business in Bulgaria for Russians
- 2. Territorial and economic features
- 3. How to open a business in Bulgaria and obtain a residence permit?
- 4. How to register a company correctly?
- 5. Documents for registration of EOOD
- 6. Documents for registration of OOD
- 7. What kind of business can really be organized in Burgas
- 8. Lines of business in Varna
- 9. What kind of business to do in Bulgaria?
First of all, these are favorable conditions for entrepreneurship, the European standard of living. Bulgaria is close to Russians in spirit, faith and language. It is much easier to start a new life here than in other parts of Europe.
Despite all these factors, you need to carefully familiarize yourself with the current realities of the Bulgarian economy. It is necessary to decide on the field of activity, analyze your financial capabilities and expected income in order to accurately imagine what kind of business to open in Bulgaria? It should be taken into account the fact that a large number of resort areas of the country dictate a special nature of attractiveness for entrepreneurs. So on the Black Sea coast, the number of jobs increases during the summer influx of tourists. The winter season gives the palm for favorable conditions to areas located near ski resorts.
A residence permit is issued in 2-3 weeks, it is valid for up to 1 year. Law-abiding citizens have every chance of extending the document for the same period. Persons residing in the country for more than 5 years (the condition is presence in Bulgaria for at least 183 days during the year) are eligible for permanent residence or long-term residence. A residence permit is given to people who have a long-term visa (type D), which can be obtained by persons who have submitted documents:
- Russian passport and 2 copies each from the pages of photographs, as well as existing visas;
- Filled in 2 copies of the form of the questionnaire issued by the consular service of Bulgaria in Russia;
- Photos, good quality, made in color (3.5 × 4.5 cm);
- Documents entitling to obtain a visa D.
Having successfully passed the first test, having received a residence permit, you acquire the right to start your own business here. The company must be registered, in compliance with a certain sequence:
To register an individual enterprise, owned by 1 person, you will need:
To register a limited liability company established by two or more individuals or legal entities on the basis of certain shares contributed to the authorized capital, a different list of documents must be submitted. Here is the list:
Having correctly passed all the registration procedures, having consulted with competent lawyers, you can safely get down to work.
Small business in Bulgaria is the most in demand. If a small business niche is chosen to run your business, which is dictated by financial capabilities, then you can consider such areas as a private coffee shop, hairdresser or confectionery. Undoubted leaders in the number of newly created firms are large cities of the country.
Bulgaria is a paradise for tourism business
One of the most attractive from the point of view of entrepreneurs of various levels is the city of Burgas. This city is a major industrial and cultural center of the country. The special economic zone created on its territory provides great opportunities for creating and doing business. Here is the so-called duty-free movement of goods and goods to nearby countries in Europe, the Middle and Far East.
Business in Bulgaria for Ukrainians and Russians can find here fertile ground for their development. It is in the Burgas region that the most important industrial enterprises of the country are located. Oil refining, chemical, textile and other industries can become attractive for medium and large businesses.
Do not discount areas such as:
- tourism (here are some of the most popular recreation areas on the Black Sea coast, for example, Sunny Beach);
- real estate;
- transport industry (especially note the airport of Burgas and its cargo port). The transport company will be appropriate here.
Varna - it can be described as the pearl of Bulgaria and the entire coast. There are a huge number of hotels and beaches here. Real estate and land plots in these places have a corresponding value, but the cost of acquiring them can pay off in a short period of time due to the flow of tourists and vacationers. They are attracted here by the warm sea, comfortable conditions for rest.
New construction and real estate sales, as well as businesses serving the needs of numerous tourists, flourish in Varna. A large number of proposals for the sale of a ready-made business in Bulgaria relate to this particular area of entrepreneurship. The purchase of an operating enterprise can always lead to certain difficulties, here it is imperative to carefully study all the legal and accounting documentation provided by the seller, to correctly assess all the possible risks of such an acquisition. Sometimes it is better to start your own business with a clean slate than to pay off debts on the accounts of the old owners.
The answer to the question may be this - it is better to give a direction to your undertaking, having assessed well the availability of a free site, you can give such an assessment only after living in the country for some time, even a simple tourist visa can help in this case. As in any other country, a business will be worthwhile only if it is close to the owner and meets his interests. Despite the advertising of the real estate market and the most beautiful places in Bulgaria, a business can occupy any niche, from the service sector to large-scale production.
You can read more about the Bulgarian currency here.
You can read more about the Bulgarian Embassy here.
You can read more about education in Bulgaria here.
You can read more about working in Bulgaria here.
There are many reasons why people decide to move to Bulgaria.
Some have real estate in this state, others have relatives, and some migrate to another country in search of a better life. When the question of moving seriously arises, everyone begins to think about earning money, a stable income and the opportunity to start their own business. In this article, we will just talk about Bulgaria and about what a profitable business you can see Russian immigrants in this small southern country. 
A little about Bulgaria
The Republic of Bulgaria is a small state (about 150 times smaller than Russia), located in the very center of the Balkan Peninsula, where it occupies 22% of the total area. The population of the country is just over 7.5 million people. In the warm season, during the influx of tourists, the population increases by about 30%. This is directly related to the resort and tourism sector. The main representatives of the population of Bulgaria are Turkish and Gypsy ethnic diasporas (about 1 million in total). The rest of the population of Bulgaria is not so numerous and has a different origin. There are about 150 thousand Russians. Sofia is the largest Bulgarian city. Officially, about 1 million people live here. A little more in the aggregate falls on 3 other large cities in Bulgaria: Varna, Plovdiv and Burgas.
When opening a business in Bulgaria, you should definitely pay special attention to the place for organizing your business. That is why the determining factors will be the scope of your activity and the city corresponding to it. Bulgaria has historically been a favorite resort for Eastern European countries. Moreover, almost all year round, with the exception of October and November, tourists always have the opportunity to visit the most beautiful natural landscape places and cultural and historical sights of Bulgaria. For example, Burgas, Varna, Riviera, Albena, Golden Sands and other tourist places are traditionally considered beach resorts on the Black Sea coast. From December to February, the ski resorts of Borovets, Bansko and Pamporovo are popular. Some people really like to visit the balneological Bulgarian resorts of Sandanski, Hissar and Velingrad.
The tourism industry is constantly evolving. And after the country's accession to the EEC and NATO, all industries are trying to bring to European standards. Membership in the European Union contributes to the growth of the attractiveness of this small southern country among tourists from many countries. The immigration program cultivated in Bulgaria is also designed to attract investors for permanent residence in order to create additional various business conditions and raise the country's economy.
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Reviews about business in Bulgaria
Reading reviews on the forums, one often has to discover for oneself that Russian communities in Bulgaria, in comparison with other countries popular for our citizens (USA, Israel, Germany, etc.), do not exist. The same reviews testify that the business “for their own” in Bulgaria will not find much demand. As in any civilized state, the Bulgarian market is divided into large and medium (or small) businesses. The first option involves "big money" and large organizations providing various services and goods. Here, it will be very difficult for a beginner, and even more so for a visitor from another country, which cannot be said about the second option. Reading the reviews, you understand that immigrants who are engaged in medium or small businesses will have much more success.
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How to choose a business niche
When choosing how best to do business in Bulgaria, it is best to first decide where you will feel like a fish in water. If you are a pro in computers and other electronics, then you need to move in this direction, and not deal with, for example, colors. The main thing that is required of you as much as possible is the experience you have in one direction or another. Some, having opened their own business in Bulgaria, receive excellent profits from it, while others can get so far that they will hardly have to make ends meet, paying for the rent of the premises, wages, etc.
In order not to get into trouble, having decided, you should analyze the existing market in detail. This can be done by making inquiries through relatives or acquaintances living in that country. You can, in extreme cases, use the Internet by visiting sites and forums with reviews where Russian immigrants share their life experiences.
By the way, the majority of Russian immigrants settled in Bulgaria back in the 80s and 90s, when it was common to register marriages between Russians and Bulgarians. Determine the most relevant and promising areas of business activity, study the experience of competitors in this area, delve into the details of registering and organizing your business. The main thing is to guess the direction of your business.
The ideal option, especially if you are new to this field, is to purchase a ready-made business that has already shown itself well. Buying a ready-made business has a large number of pros and cons. Of course, a good and profitable business will cost accordingly. Therefore, choosing your business niche, it is important to start from your own budget in the first place. If buying a ready-made business is not included in your plans, then come up with a business idea that will allow you to invest just as much money, which, in which case, it will not be so scary to lose. There is always a matter of chance.
One of the main advantages of Bulgaria as a country for business among many other countries is quite democratic taxation on the income of individuals or legal entities (only 10%). Some of the clear advantages of opening a business in Bulgaria are: low rental prices for commercial premises, a wide and underdeveloped field of activity for running your own business, as well as an easy and affordable entry into the European market. In addition, the state is quite loyal to citizens who want to engage in entrepreneurial activities. So, for example, by registering your own company, you will be allowed to acquire a land plot or purchase real estate in a rural area. In addition, operating firms have the opportunity to purchase products from other manufacturers in installments, which is especially convenient with low start-up capital.
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The best "five"
After analyzing the current needs of the people of Bulgaria, we can identify a number of the most promising areas for starting your own business. These are just a few of the most successful business areas that you can always supplement by working on other areas of activity by making the appropriate inquiries:
- Provision of services for the repair and decoration of apartments. In Bulgaria, there are large companies that provide such services to large customers. For small, private orders, such organizations, as a rule, are not taken. Therefore, it would be quite advisable to start your small business with small private works. All you have to do is place an ad in the newspaper, and one of the local residents will definitely decide to take advantage of this or that offer, whether it is painting something, whitewashing, changing the lock or installing cabinet furniture. Some simply do not have free time for this, while others do not understand such things at all. Over time, developing your business, it will be possible to expand your activities,. This trendy destination is driven by an increased demand for real estate due to a large influx of tourists (tourism figures show this). After all, tourists want to be able to visit Bulgaria all year round, having their own corner.
- A variety of beauty salons, hairdressers, solariums, nail services, spa treatments, etc. are very popular in Bulgaria. This is one of the win-win options, as many of the fair sex are ready to lay out large sums to always remain well-groomed and attractive. After registering and purchasing the necessary working equipment, you will need to find an experienced professional master who will help establish a strong reputation for high-quality and modern service for your salon. Most often, such a business appeals precisely to women, to whom this is all quite simple and familiar. And some, especially at first, can work as a master themselves in order to better try out the “local cuisine”.
- IT and computer technologies. This business niche is very interesting for ordinary people in Bulgaria. If you are knowledgeable in this area, then this idea is definitely for you. A good online store would become very popular, where anyone with a plastic card with money in their account could purchase certain goods. As an alternative, you can open a network store or simply sell computers and various computer equipment.
- Tourism. Opening a travel company, you will never lose. Registration of a company with the relevant authorities will seem like a trifle to you, compared to our Russian authorities. Since the entry into force in 2008 of a law regulating business activities and simplifying the registration of start-up businessmen, the pace of industry in Bulgaria has increased. Currently, more than 50% of the working population in Bulgaria is engaged in the development of their own small and medium-sized businesses. In addition, Bulgarian travel agencies bring significant income to their state and account for 10% of the total GDP. The cost of tours to Bulgaria is relatively low, so such offers will always be in demand. Moreover, you can always organize tours to other popular tourist countries. In Bulgaria, in summer you can plunge into the waters of the Black Sea and bask in the hot sun, and in winter you can actively relax in a ski resort.
- . Opening a cafe or a small bar will always be in demand in Bulgaria. They drink tea and coffee here from morning to evening. And lovers to drink something stronger can be found everywhere. Of course, it is worth considering that the prices for alcohol here are low. Plus, you should not focus your business on Russian cuisine and former citizens from Russia. For snack bars and other catering places, Bulgaria is quite fertile ground.
Bulgaria attracts Russian-speaking entrepreneurs with a common culture and characteristic nuances of doing business. In this sunny country, it is quite easy to get a residence permit or just open a sales office of your own company, which will bring additional income. Today, the Bulgarian government is rapidly developing the economy of its state and by all means contributes to the development of small and medium-sized businesses.
In terms of their mentality, the population of Bulgaria is closest to Russian businessmen. The country has a very loyal policy towards emigrants and foreign investors. Developing your own business in Bulgaria is not a very difficult and profitable business. But before everyone who wishes, the question invariably arises - what kind of business to open in Bulgaria? Which activity is the most profitable and successful in the Bulgarian market? Specialists and experienced businessmen identify several main areas for successful business activities in Bulgaria.
Features of the fish business
The most attractive economic zones in Bulgaria are large commercial and cultural centers. Burgas has a lot of opportunities, where promising industrial enterprises are located. Burgas has a large port, popular recreation areas, and an airport.
In addition to tourism and real estate, the fishing business in Bulgaria is gaining popularity. It brings a good profit, and the country's fish market occupies its own specific niche. In Bulgaria, sturgeons are grown and new fish farms are being built. Russian entrepreneurs who have not yet decided what kind of business to open in Bulgaria, it is quite possible to engage in this type of activity. 
Trout, which is extremely popular in the country, is grown in mountain rivers. There are several large fishermen in which there are specially equipped cascades and compartments. If your goal is Bulgaria, the fishing business and making good profits, then know that this phrase is associated, first of all, with a properly organized fisherman and a minimum of investment. Funds are required to be invested only at the beginning of the development of activities. After that, it remains only to feed and raise the fish. Farmed fish is supplied to numerous Bulgarian restaurants and retailers. The most famous fisherman in the country is Brichy Bor. The fish farm includes eight cascades. 
Another option for the fishing business in this country is the processing of freshly caught fish in the Black Sea. Small merchants buy a wide variety of fish from local fishermen - herring, Kalkan, ilaria, tsatsa. The fish is salted, steamed, preserved and sold in Bulgaria itself and abroad. This is a fairly popular type of business activity.
To start a fish business in the country, you can open a processing shop or a fish farm to grow fish. The funds invested in the business quickly return.
Features of the restaurant business
The restaurant business in Bulgaria in 2014-2015 was going through hard times due to the crisis in the country and poor solvency of the population. Today, however, restaurateurs in Varna are seeing a significant increase in their income. In general, the position of restaurateurs is now quite favorable. The main thing is to find a good place for the institution and have qualified staff. The entire situation in the restaurant should be controlled by one manager. 
Recently, the restaurant business in Bulgaria has been suffering from a shortage of qualified personnel. It is becoming increasingly difficult for restaurant owners to find excellent chefs, waiters and other employees. Many Bulgarians today go abroad to Europe. However, some Russian entrepreneurs prefer to buy a ready-made business in Bulgaria. Restaurants and cafes are no exception.
Features of the hotel business
Recently, Bulgaria has been visited by a huge number of tourists from various countries, so one of the promising areas is the hotel business. A small cozy family hotel can bring its owners a very decent income. In this type of activity, it is important to correctly and successfully choose the location of the hotel and adequately assess the costs and profits. 
Today the hotel business is developing very actively. Novice enthusiasts are quite capable of such activities, thanks to the loyal policy of doing business in Bulgaria. The maintenance of hotel complexes in this sunny country is a promising business in Bulgaria. Of course, before opening your own hotel in a popular Bulgarian resort, you need to fully explore this sector. By the beginning of the season, each resort area is actively preparing for the influx of tourists. In addition to hotels located on the Black Sea coast, there are a large number of ski resorts in the most picturesque Bulgarian areas. 
In Bulgaria, you can successfully conduct and develop almost any business. Agricultural farms, mini-bakeries, catering establishments, hotels, retail trade will certainly bring the expected profit. The minimum taxation that exists in Bulgaria contributes a lot to the development.
In order to properly start your own economic activity abroad, you need to seek help from specialists. The well-known company SAVA Management has been specializing in opening companies in Bulgaria for many years. Highly qualified specialists will give detailed advice on all issues related to doing business abroad. They will be able to help open a company or a sales office in Bulgaria, and we will provide full administrative support to Russian entrepreneurs.
If you want to develop your business and offer goods and services abroad, please call +35929656060 for help. In the shortest possible time, SAVA Management will register your company or its branch in Bulgaria. Do not postpone your plans for tomorrow - develop your own business further and strive for success by cooperating with professionals.
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