Bulgaria

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Operating a Business in Bulgaria

Setting up a company | Working conditions | Cost of labor | Social partners

Setting up a company

Legal business entities

Types of companies and capital (max/min)	Number of partners/shareholders and liability	Registration fees
Private Limited Company (OOD) Minimum BGN 50,000 (shares of minimum BGN 500).	Minimum 2 partners. 1 member for a sole proprietorship. Liability is limited to the amount contributed.	Deposit paid-up capital in a bank: BGN 10 -30 (depending on the bank). Register with the Commercial Register at the Registry Agency: BGN 120.
Joint-stock company (AD) Minimum BGN 1 million (5 million in case of public subscription).	Minimum 2 shareholders. Liability on assets of the company and up to their value towards creditors.	Deposit paid-up capital in a bank: BGN 10 -30 (depending on the bank). Register with the Commercial Register at the Registry Agency: BGN 120.
General partnership No minimum capital.	Minimum 2 partners. Partners' liability is joint and unlimited	Deposit paid-up capital in a bank: BGN 10 -30 (depending on the bank). Register with the Commercial Register at the Registry Agency: BGN 120.
Limited partnership No minimum capital.	Minimum 2 partners, a sleeping partner and an active partner. Active partners' liability is joint and indefinite. Sleeping partners' liability is limited to the amount contributed.	Deposit paid-up capital in a bank: BGN 10 -30 (depending on the bank). Register with the Commercial Register at the Registry Agency: BGN 120.
Partnership limited by shares Minimum BGN 1 million ( 5 million in case of public subscription).	Minimum 3 sleeping partners. Minimum 2 active partners. Active partners' liability is joint and unlimited. Sleeping partners' liability is limited to the amount contributed.	Deposit paid-up capital in a bank: BGN 10 -30 (depending on the bank). Register with the Commercial Register at the Registry Agency: BGN 120.

Business setup procedures: To register an OOD with the Trade Register, minimum 70% of the registered share capital has to be paid. An AD must be registered with the Trade Register and a minimum of 25% of the share capital has to be paid.
Finally, a branch must be registered with the Trade Register of the competent regional Court.
The competent organization: It is possible to register a business directly on the site Invest in Bulgaria. Formalities take between 2 and 3 weeks.

Working conditions

Legal weekly duration: 40 hours
Retirement age: 55 years for women and 60 years for men.
Working contracts: Contracts can be short-term or permanent.
For further information visit the site Worldwide Tax.

Cost of labor

Minimum wage: 150 new lev (USD94)
Average wage: Average monthly gross earnings in Bulgaria is BGN 416 (USD 300).
Social contributions: Social security contributions paid by employers: 34%
Social security contributions paid by employees: 1%

Social partners

Social dialogue and involvement of social partners: The 2 most significant unions are: the Confederation of independent Trade Unions CITUB (Bulgarian only) and Podkrepa
Unions: Podkrepa
Labor regulation bodies: Ministry of Labor and Social Policy

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