Doing Business in Bulgaria
Business start up costs in Bulgaria |
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Conditions |
Time needed |
Costs in EUR |
|
Set up a company |
open a bank account in local bank min. deposit for Limited Liability Company – 2 leva min deposit for Corporation – 50 000 leva |
2 - 3 weeks |
around 800 |
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Hire an accountant |
part-time or full-time depending on whether the company is operational or not |
- |
100 – 500 |
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Open a bank account |
- |
less than a day |
20 - 50 |
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Translation service |
the only accepted language in Bulgarian courts is Bulgarian |
|
5 – 10 / per page |
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VAT registration |
It is required if the company has a turnover of more than 50 000 leva |
2 – 3 weeks |
around 150 |
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Cost of office space in Bulgaria (Sofia and Varna) |
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Location |
Cost (EUR per sq. m.) |
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buy |
rent |
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Sofia – Class A Office Building |
1500 – 2000 |
20 – 30 |
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Sofia – New Business Building or business Park |
800 – 1400 |
12 – 17 |
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Sofia – office Apartment Downtown |
1200 – 2000 |
3 – 12 |
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Varna – Class A Office Building |
1200 – 1800 |
14 – 25 |
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Varna – New Business Building or business Park |
800 – 1400 |
12 - 14 |
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Varna – office Apartment Downtown |
800 – 1400 |
3 – 10 |
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Prices of properties in Bulgaria |
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Type of property |
Price range (EUR) |
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Low |
High |
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City of Sofia apartments |
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1 BR apartment Sofia Downtown (up to 50 m 2 ) |
40 000 |
55 000 |
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1 BR apartment Sofia Suburbs (up to 50 m 2 ) |
25 000 |
35 000 |
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2 BR apartment Sofia Downtown (to 50 m 2 to 70 m 2 ) |
65 000 |
75 000 |
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2 BR apartment Sofia Suburbs (50 m 2 to 70 m 2 ) |
30 000 |
50 000 |
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3 BR apartment Sofia Downtown (70 m 2 to 110 m 2 ) |
80 000 |
100 000 |
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3 BR apartment Sofia Suburbs (70 m 2 to 110 m 2 ) |
50 000 |
60 000 |
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4 BR apartment Sofia Downtown (more than 110 m 2 ) |
90 000 |
150 000 |
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4 BR apartment Sofia Suburbs (more than 110 m 2 ) |
60 000 |
100 000 |
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Black Sea coast |
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1 BR apartment Sunny Beach Resort |
35 000 |
60 000 |
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3 BR apartment Sunny Beach Resort |
75 000 |
130 000 |
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1 BR apartment Sozopol |
30 000 |
55 000 |
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3 BR apartment Sozopol |
75 000 |
130 000 |
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Houses on the Black Sea coast |
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House in the town of Nesebur |
60 000 |
150 000 |
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House in the town of Sozopol |
50 000 |
140 000 |
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House in the town of Balchik |
35 000 |
100 000 |
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House in the town of Primorsko |
40 000 |
120 000 |
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Mountain and ski resorts – Pamporovo |
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1 BR apartment Pamporovo |
30 000 |
55 000 |
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3 BR apartment (120 m 2 ) |
75 000 |
110 000 |
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House near Pamporovo (250 m 2 ) |
30 000 |
100 000 |
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