How to start a business in Bulgaria from the UK

Do you want to start a business in Bulgaria? If you’re a UK entrepreneur considering launching a company in Bulgaria, you’ll find opportunities across diverse sectors. The country also has an increasingly digitalised company registration process.
In this guide, we’ll walk you through the basics to help you get started, including info on company types, registration fees and the steps involved in legally starting a business in Bulgaria as a foreigner.

We’ll also introduce the Wise Business account, which lets you hold and exchange 40+ currencies with mid-market exchange rates, and low fees. More on Wise and how a Wise Business account can help your company grow, later.

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Doing business in Bulgaria

At present, Bulgaria has a gradually slowing economy, according to 2025 forecasts from the European Commission. This is reportedly due to less buoyant consumer demand. So if you’re still weighing up whether or not to invest in Bulgaria, it could be worth waiting and watching these figures to see if the situation improves.

However, there are many other factors which make Bulgaria a great place to start a business.

For starters, it’s strategically located for Southeast Europe, with easy access to mainland Europe and other large regional markets, totalling 1.3 billion customers according to InvestBulgaria.² In terms of interesting sectors for a business in Bulgaria, it’s notable that 9 out of 10 cars made in Europe contain one or more Bulgarian components,¹ making automotive industries especially important, alongside other sectors like electronics, manufacturing, IT, and health and life sciences.

Bulgaria also joined the euro (EUR) on 1st January 2026, a move which could create new opportunities for businesses. The European Central Bank described the transition as leading to “…greater economic stability, smoother transactions and stronger integration across Europe. For Bulgaria, adopting the euro means building a stronger foundation for long-term growth and resilience.”³

Doing business in Bulgaria is a lot easier if you can speak some Bulgarian - but there are lots of translators and support agencies and services available to help you if you’re yet to tackle the language.

Bulgarian company register

So, how to legally start a business in Bulgaria? The first job on your list is likely to be picking the right entity type to suit your preferences and the type of work you’re expecting to do. Bulgarian business entities aren’t quite the same as the business types you’ll find in the UK, so investing some time in deciding which to pick is important.

Here’s a look at the most popular types of business entities one can choose to start a business in Bulgaria⁴:

• Limited Liability Company (OOD)
• Joint Stock Company (AD)
• Limited Partnership (KD)
• General Partnership (SD)
• Partnership Limited by Shares (KDA)
• Company with Variable Capital (CVC)

It’s also possible to register as a sole proprietor in Bulgaria but this cannot be done from the UK. Let’s work through the most common business types in more detail, one by one.

Limited Liability Company (OOD)

You can open a limited liability company (abbreviated as an OOD) as a foreigner in Bulgaria. It’s one of the most common business structures in the country. Initial investment can be as little as 2 BGN (1 EUR), with each partner putting up 1 BGN as a cash asset - non-cash assets can also be considered but are subject to assessment. Liability is limited to the amount of registered capital, so personal assets are usually protected from the company’s debts.

Joint Stock Company (AD)

To open an AD, you’ll need one or more people and 50,000 BGN (approx. 25,000 EUR) or more in share capital.

If your business will be in certain sectors such as banking and finance, you may need more capital. The shareholders are liable for the business only up to the total amount of their share capital.

Limited Partnership

There’s no initial capital needed for a limited partnership agreement. The details of the agreement, made between 2 or more individuals, must be set out in writing, with at least one partner assuming general responsibility for the company including unlimited liability. Other partners have their liability limited under this agreement based on the amount paid into the business in the first place.

General Partnership

With a general partnership there’s no initial capital requirement but all partners are liable jointly and fully for the business. That means there’s no limits to the liability for any partner involved in this model. The state fees for registering a general partnership are under 100 lev as long as you register online.

Partnership Limited by Shares

A partnership limited by shares must include at least 3 partners, of which some can be limited liability partners and some take general liability for the business - a little like in a Joint Stock Company. Unlimited liability partners act in an advisory capacity, leaving the limited liability partners to vote on business matters.

Company with Variable Capital (CVC)⁴

A CVC is a relatively new business type in Bulgaria. It’s designed to help startups to scale up their businesses, in a similar way to France’s Société d’investissement à Capital Variable.

This company type should have less than 50 employees and an annual turnover and/or asset value under 4,000,000 BGN (approx 2,000,000 EUR).

How to start a business in Bulgaria - Step-by-step

Opening a business in Bulgaria is easiest if you have a local agent. There are many online services which can help with this - and if you don’t have a working knowledge of Bulgarian language this is certainly the easiest choice. Just make sure you know what you’re paying for when you choose an agent so there are no surprises.

As a broad outline, the steps needed to start a business in Bulgaria usually include:

1. Create articles of incorporation documents, usually done through a legal representative or agent
2. Open a bank account or online account for your business which can hold EUR
3. Deposit share capital if required based on your entity type
4. File your incorporation documents to the Bulgarian Commercial Register⁵ - this can be done through an agent
5. Apply for VAT registration and any other legal licenses or registrations needed based on the entity type and activities

Exactly what’s needed can vary according to entity type and the activities of your business - your agent will advise you along the way. Completing registration online makes the process much more straightforward and also reduces the state fees you pay significantly.

Not sure which business account to get to manage your money in euros and pounds? There’s more on how Wise Business can help with that coming up later.

How much does it cost to register a company in Bulgaria?

The costs of registering a company in Bulgaria vary depending on the entity type. You’ll need to pay state fees - but remember that there may also be several additional costs such as translation of documents, legal representation and advice.

Online registration in the Commercial Register for a limited company costs just 60 EUR,⁵ but you will also need to pay fees for translation of documents, notary and apostille services, legal representation and advice.

How long does it take to start a business in Bulgaria?

The process of registering a new business in Bulgaria is pretty quick, usually only taking 1 to 3 working days.⁴

Is Bulgaria a good country in which to start a business?

Bulgaria has a few very important industries including automotive, electronics and manufacturing. If you’re a UK entrepreneur in one of these fields - or in another of Bulgaria’s key sectors - it can be an appealing place thanks to its strategic location for access to the mainland Europe market. The costs of registering a business are low, and agencies like Invest in Bulgaria¹ are on hand to help foreigners navigate the business landscape successfully.

Can a foreigner start a business in Bulgaria?

Yes. The basic process for registering a business in Bulgaria is the same no matter whether you’re a local or a foreigner. Bear in mind though that all documents provided, and all application details, must be provided in Bulgarian. If documents in their original form are in another language of the EU, you can submit them with a certified translation into Bulgarian instead.

Manage your Bulgarian Company's finances with Wise Business

Check out Wise Business for easy ways to hold, receive, send and exchange 40+ currencies including EUR and GBP, all in one place.

Wise Business is a perfect partner for international businesses, with flexible digital account services which use the mid-market exchange rate for currency conversion, with fair and transparent fees that can mean you pay less in costs overall. Open an account online to get started, with access to linked debit and expense cards, multi-user access, batch payments, cloud accounting integrations and more.

Ready to learn more about how to open a Wise business account in the UK?

Here’s a quick overview:

1. Download the Wise app or head to the Wise desktop site
2. Tap Register and follow the prompts to apply for a business account
3. Add your personal and contact information
4. Upload the documents needed which are detailed online and in this Wise Business account requirements guide
5. Pay the one time fee to register your account and get a linked payment card if you need one
6. Once your account is verified you can start transacting - your account will be live in the Wise app, your physical card will be posted to you, and you can get a digital card right away for mobile spending

Use this guide to start you off on your journey to opening a business in Bulgaria from the UK. And while you’re here, check out Wise Business as a smart way to manage your money once your company is up and running.

Get started with Wise Business 🚀

*Disclaimer: The UK Wise Business pricing structure is changing with effect from 26/11/2025 date. Receiving money, direct debits and getting paid features are not available with the Essential Plan which you can open for free. Pay a one-time set up fee of £50 to unlock Advanced features including account details to receive payments in 22+ currencies or 8+ currencies for non-swift payments. You’ll also get access to our invoice generating tool, payment links, QuickPay QR codes and the ability to set up direct debits all within one account. Please check our website for the latest pricing information.

Sources used:

Sources last checked 07-Jan-2026