Bulgaria happens to be one of Europe’s most politically and economically stable countries. For this reason, the country offers an amazing opportunity for setting up a joint stock company.
As a member of the EU, WTO, and NATO, you can never go wrong with an investment in Bulgaria. The country simply has a wide market for all your products and services. Additionally, its strategic location at the South Eastern part of Europe also enables the market to be wider. Countries like Serbia, Romania, and Greece present even a much wider market for your products.
Access to a wider market
That which would definitely investors into setting foot in Bulgaria is its fairly low cost of doing business. At €1, you are ready to register your business. For this low, you find in it a greater market in the Middle East, Turkey, and North Africa.
Low cost of doing business
Bulgaria is arguably the best country in Europe to set up a business presence. With the corporate tax at 10%, you can be sure to find very few countries (if any) with such low business costs. Top of the advantages is that Bulgaria also enjoys a comparatively lower cost of living.
Basic utilities, therefore, like electricity, rent and general consumer goods are easily accessible. Similarly, Bulgaria boasts one of Europe’s most dedicated working populations. The Bulgarian workforce is one that has a national culture of hard work, dedication and punctuality. What more could a business ask?
However, one of the best reasons for having a business in Bulgaria is the simple process of registering a joint stock company there.
Simple Joint stock company registration
The process of registering a joint stock company in Bulgaria is such a simple one that you do not even have to be physically present in the country. As long as you have the incorporation documents like the memorandum of association, the power of attorney and the declarations, you are right on your path.
All the directors of that company can then sign their specimen documents at any notary public or Bulgarian consulate in their country.
For the whole process, two weeks are just enough time to fill and duly sign all the registration documents. Likewise, you shall have to open a business bank account with the Bulgarian banks before your details are added to the Bulgarian Companies Register.
As a general rule, the business name will have to be in Cyrillic. You will then have your business set up in the next two working days as long as your business VAT number is set up. The cost of setting up a joint stock company is €25,500. To initiate the registration process, however, only a quarter of this amount would be required.
Similarly, evidence of bank payments of deposits and tax compliance shall be required upon submission of registration documents.
Most Bulgarians are multi-lingual educated and skilled. The large pool of employees in Bulgaria is also a plus to most businesses. Bulgaria has the 3rd fastest internet speeds in Europe. For this matter, you are sure to have prompt and reliable communications at any time of the year.