How to start a business in Bulgaria

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Bulgaria has a population of 7.585.131 people. The GDP per capita is 12.851$. As of January 1 2007 Bulgaria is a European Union Member State.

If you decide to start a business in Bulgaria here is what you should know: 

1.       Where to address to register your company?

According to Bulgarian legislation, you must register your new business in the Commercial Register at the Registry Agency. 

2.       How many days until the business can be operational?

On average you must wait 18 calendar days before you can operate your business.

3.    How many procedures to start a business?

The number of procedures to start a business in Bulgaria is around 4. The procedures include (http://www.doingbusiness.org/data/exploreeconomies/bulgaria/):

• Reserve the company name at the Registry Agency. You can reserve your company’s name before submitting a registering application. The name reservation is valid for 2 months at it costs around 35$.

• Execute the minutes of the constituent meeting of your company; obtain a notary certified statement of consent and signature specimen of the manager. This procedures takes up to 1 day to compete and it costs you 3,5$

• Register the company with the Commercial Register at the Registry Agency. The registration officer assesses your application within 4 working days. The state fees that you need to cover vary between 77$ and 112$ depending on how you decide to file the registration documents with the Registry Agency. If you choose to file the documents electronically you pay the 77$ fee.