You’re a non-EU entrepreneur eyeing EU access without the million-euro price tag of traditional golden visas. Bulgaria offers a practical path: form a company and leverage it for residency, tapping into 10% flat corporate tax, Schengen travel perks (post-2025 integration), and a straightforward process. This route suits remote managers or active investors wanting residency in weeks, not years.
Why Choose Company Formation Over Golden Visas?
Golden visa programs in Portugal or Greece demand €250,000–€500,000 investments in funds or property, often with lock-up periods. Bulgaria skips that: register an EOOD (single-owner LLC) or OOD for €1–2 minimum capital, no residency required upfront. Foreigners own 100%, and active business ties strengthen your D-visa or long-term permit application under the Foreigners Act. Expect 10% tax on profits under €3M, plus EU market access—ideal if you’re from the US, UK, or Asia.
Main Residency Pathways via Business
Two proven routes exist for non-EU citizens.
Trade Representative Office (TRO): Represent your existing foreign company (must be 2+ years old, debt-free) via Bulgaria’s Chamber of Commerce. No big investment needed—just a Bulgarian address and proof of €2,900/month funds. Processing: 2–3 months for Type D visa and 1-year renewable residency. Great for testing the market without full commitment.
Full Company Formation (EOOD/OOD): Set up your own LLC, hire 10 Bulgarian citizens (or equivalent investment), and apply for business residency. Demonstrates economic impact, boosting approval odds. Leads to 1-year visa, renewable to permanent after 5 years.
Both grant family inclusion (spouse, kids under 18) and Schengen mobility.
Step-by-Step Company Formation Process
Start remotely— no Bulgaria visit needed initially.
- Name Check and Reserve: Search the Commercial Register portal (portal.registryagency.bg). Transliterate foreign names to Cyrillic; reserve for free.
- Documents Prep: Draft Articles of Association (purpose, capital, manager). Notarize manager consent/signature specimen. Gather passports (apostilled for foreigners), proof of address (virtual office OK, €50/month).
- Deposit Capital: Open escrow bank account (e.g., UniCredit, DSK). Deposit 2 BGN (~€1); get certificate.
- Notary and Register: Notary certifies docs (1 day, €100–200). Submit to Commercial Register electronically (€80) or in-person (€110). Approved in 3–4 days; get company number.
- Post-Registration: Tax ID, VAT (if turnover >€25K), social security. Open operational bank account—banks welcome foreigners with proper setup.
Total time: 1–3 weeks, cost: €500–1,500 DIY or €2,000–4,000 with lawyers. Use services like virtual offices for compliance without physical presence.
Residency Application After Formation
With company papers in hand:
- Type D Visa: Apply at Bulgarian embassy/consulate in your country. Submit company docs, business plan, accommodation proof, health insurance, €2,900/month funds, clean criminal record. Valid 6–12 months; enter Bulgaria.
- Long-Term Permit: Within Bulgaria, apply at Migration Office. For LLC: prove 10 jobs created or investment. For TRO: parent company docs. 1-year renewable; permanent after 5 years continuous stay.
Family applies together. Approval rates high with genuine business (e.g., IT, consulting).
Costs, Taxes, and Timeline Breakdown
| Aspect | Details | Estimated Cost (€) |
|---|---|---|
| Formation | Notary, register, virtual office | 500–1,500 |
| Bank/ Capital | Escrow + operational account | 100–300 |
| Residency Visa/Permit | Fees, translations, apostille | 300–600 |
| Annual Compliance | Accounting, taxes (10% flat) | 1,000–3,000 |
| Total Year 1 | 2,000–5,000 |
Taxes: 10% corporate on profits; 10% personal if resident. No wealth/inheritance tax. Dividends: 5% withholding.
Benefits and Real-User Tips
Live in Sofia/Plovdiv affordably (€1,000/month family), travel Schengen freely, access EU banking. Scale to citizenship after 5 years permanent residency + Bulgarian language test.
Tips from founders: Start with TRO if testing waters; hire locals via platforms like jobs.bg for jobs quota. Use lawyers for docs—avoids rejections. Track 2026 updates: Bulgaria’s Schengen full entry enhances appeal. Risks: Inactive companies flag scrutiny; maintain real activity.
