What does it really cost to set up a company in Bulgaria?

1. Which legal form is suitable?

Colloquially, "Bulgaria GmbH" usually refers to an EOOD (one-person company) or an OOD (limited liability company). An OOD is a company with multiple shareholders. Both legal forms function similarly to a limited liability company (GmbH) with limited liability.

EOOD (sole proprietorship)

• Ideal for solo entrepreneurs, freelancers, and small online businesses.
• A shareholder
• In practice, often the fastest/most straightforward solution

OOD (multi-person company)

• Multiple shareholders possible
• Suitable for teams, partner setups, and classic multi-person structures.

AD/EAD

• Significantly higher costs and capital requirements
• Usually only makes sense for larger projects

Tip: For most founders, the EOOD or OOD is the best choice. The processes are straightforward. Furthermore, the setup costs are much lower than for a public limited company (AG).

2. Costs of setting up a company in Bulgaria

If you travel to Bulgaria yourself and handle the incorporation on-site, you can save some costs, especially if you organize the documents yourself. Nevertheless, many people hire a service provider to avoid errors and delays.

Setting up a limited liability company in Bulgaria requires two, or more likely three, notary appointments.

➙ Multiple travels within 4-5 weeks for 3 notary appointments often too time consuming.
➙ Stay of at least 4 weeks straight in Romania requires a lot of time.

The following appointments with the notary are required:

1. For the founding (notarized)
2. Application for VAT ID (notarized)
3. Notarized power of attorney for the Romanian tax advisor

One-time cost factors

• State registry fees: depending on the submission/procedure
• Notary & Certifications: Signatures, resolutions, declarations
• Translations/Apostille: depending on the source documents
• Optional: VAT ID registration, company address, bank support

Costs opening in Bulgaria locally

The involvement and authorization of a state-certified Bulgarian tax advisor is mandatory in Bulgaria and not optional. (You cannot handle your own bookkeeping.)

This also means that exactly 3 notary appointments are required for incorporation, VAT ID and tax advisor.

Therefore are the individual costs (opportunity costs) of either multiple travels or a Stay in Bulgaria of 4-5 weeks probably the biggest cost part.

Costs for setup in Bulgaria locally

1. 3 trips to Bulgaria: approximately 1,000-2,000 EURO
2. Uninterrupted stay of over 4 weeks: approximately 1,500-3,000 EURO
3. Notary fees on site (3 times): approximately 550 EURO
4. Interpreter (Bulgarian/German) three times: approximately 400 EURO
5. Registration fees: approximately 400-600 EURO
6. Company address: approximately 60 EURO per month (720 EURO)
This results in one-time start-up costs of between 4570 and 7270 EURO.

Anyone who is a Bulgarian citizen and already lives in Bulgaria can save a considerable amount of money. Or anyone who is planning a very long vacation of over a month in Bulgaria and considers the main part of the costs (travel and hotel costs) not as "start-up costs" but as "private vacation expenses".

Why 4 weeks or 3 trips? The process simply takes that long, and you can't complete the incorporation, VAT ID, and power of attorney for your tax advisor all at once or in just a few days. The waiting time at the authorities is due to the fact that you can only apply for your VAT ID two weeks after incorporation, and the power of attorney for your accountant can only be issued another one to two weeks later.

3. Costs of setting up a company in Bulgaria remotely (remotely)

Setting up a company in Bulgaria remotely is generally possible, but usually involves powers of attorney, notarizations and the sending of documents. This results in additional costs if the notary appointments are held in the applicant's home country.

Three visits to a notary are required, each time an interpreter must be appointed by the Bulgarian embassy, ​​and subsequently an apostille must be obtained from the district court.

Alternatively, all notary appointments can take place digitally, and interpreters and apostilles can be ordered at the same appointment!

Remote incorporation in the home country, on-site

• Powers of attorney must be certified
• Apostille and translations are often necessary
• Document dispatch (Original documents) are added
• Bank account/Compliance may incur additional costs for non-residents

Costs of opening from home country

Notary fees are somewhat higher in countries like Germany, Austria, and Switzerland than in Bulgaria. In addition, there is the waiting time until an interpreter from the Bulgarian embassy is available, as they must be sworn in. The trip to the district court to have the notary documents apostilled also results in three additional visits to the notary's office, even with the three required appointments.

A notary appointment in the home country is not sufficient: An interpreter and an apostille are always required for each of the 3 notary appointments.

Therefore the 3 notary appointments plus interpreter and apostille is the biggest cost part.

One-time costs for setting up a business in the home country

1. Three notary appointments: approximately 900-1,200 EURO
2. Three interpreter fees: approximately 800-1,500 EURO
3. Three apostilles: approximately 600 EURO
4. Three document shipments: approximately 150 EURO
4. Legal fees: approximately 750 EURO
5. Registration fees: approximately 500-600 EURO
6. Company address: approximately 60 EURO per month (720 EURO)

This results in one-time start-up costs of between 4420 and 5520 EURO.

The formation process extends to 2 months instead of 4 weeks, because interpreters, notaries and court visits have to be coordinated multiple times.

4. Solution: Handle everything digitally, reduce costs

How can it be improved now? With GO EU: Digitized notary appointments, including interpreters and apostilles at the same time.

Time and effort reduced by several weeks!

✔ With GO EU: Remote company formation without leaving home: approximately 3000 EURO

5. Ongoing costs

The biggest surprises usually come not during the initial setup, but with the ongoing costs. Even a small business has ongoing obligations such as accounting, registrations, annual financial statements, and possibly VAT reporting.

Monthly running costs

• Accounting: approx. €80-300 (depending on the volume of documents)
• Bank Account: approx. €10–20 (fees)
• VAT (if relevant): additional ongoing costs may apply

Fixed costs per year

• Company headquarters with lease agreement: approx. €60 per month
• Annual reports, balance sheet / publication: approx. €300–800 per year

For a small business without special requirements, additional monthly costs of €200-300 are often realistic.

6. Costs for tax advisors or accountants?

In Bulgaria, professional bookkeeping is practically always necessary. Even if you keep many things small, you still have to meet deadlines and formal requirements. Therefore, hiring a tax advisor or accountant is one of the most significant expenses.

Price ranges according to complexity

Tip: GO EU not only has its own branch in Bulgaria, but also employs its own Bulgarian tax advisors. The costs are passed on without addon, below the market average for accounting services.

Example: 1-20 receipts per month

- Market standard: €200 per month
- For GO EU customers: €80 per month

7. Conclusion

Bulgaria remains an attractive EU location if low corporate taxes and minimal barriers to entry are important to you. However, the often-advertised €500 company setup fee is rarely realistic. In most cases, that's only a portion of the actual costs.

Costs overview

• One time costs formation:
  
  
  • Bulgaria on site: approx. €4500
  • Home country on site: approx. €4400
  • 100% remote: approx. €3000


• Ongoing costs: approximately €150-300 per month

Whether a Bulgarian limited liability company (GmbH) is worthwhile depends less on the incorporation process and more on whether your structure – i.e., business model, substance, bank, accounting, and compliance – functions well in the long term.

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