Published on and written by Cyril Jarnias
Opening a company abroad without ever flying, signing all papers from your living room and managing your business online: for a long time, this sounded more like a marketing pitch than a reality. However, for those targeting Bulgaria, the question deserves serious consideration: is it really possible to set up a company in Bulgaria remotely today, and under what conditions?
Listen to this guide
Yes, it is possible to set up a company abroad, but it requires a legal framework, digital tools, and precise procedures. Watch out for concrete pitfalls: banking, translations, taxation, and compliance. The real challenge is to succeed in registering without any roadblocks.
A framework that clearly allows remote incorporation
The starting point is that Bulgarian law does not require you to be physically present to set up a company. Whether you are an EU citizen or not, you can own 100% of the capital of an EOOD (single-member limited liability company) or an OOD (multi-member limited liability company) and act as its manager, without being a resident of Bulgaria and without having to travel there physically.
Bulgarian law provides two main things that make remote incorporation possible.
To delegate the procedures of setting up a company abroad, it is possible to establish a Power of Attorney (PoA). Once this document is signed, notarized, then apostilled or legalized depending on the country, it allows a lawyer or local agent to carry out all steps on your behalf: capital deposit, signing of incorporation documents, submission to the Commercial Register, and follow-up with the authorities.
Secondly, the existence of a robust digital infrastructure around the Commercial Register (Търговски регистър). A large part of the formalities can be done online via an official portal, using a Qualified Electronic Signature (QES), which under Bulgarian law has the same legal value as a handwritten signature.
Concretely, this means that the typical sequence for a foreign founder looks like this: preparation of the file, signing of the power of attorney and documents before a notary in their home country, apostille and translations, sending to the representative in Bulgaria, deposit of capital into an escrow account, electronic submission of the file, obtaining the company identification code… all without the founder ever setting foot in Sofia.
How online registration of an EOOD/OOD works
Online registration has become the norm for EOODs and OODs. The core of the system is the Commercial Register portal, accessible 24/7, where you fill out the official registration form (Application A4), attach the incorporation documents, and pay the court fees online.
For the electronic submission to be valid, several conditions are mandatory.
First, you need a Qualified Electronic Signature (QES) issued by an accredited provider. This signature allows you to digitally sign the A4 form, the articles of association, the minutes, and declarations required by law. Each person who needs to sign a document (e.g., multiple partners in an OOD) must have their own certificate.
All documents must be submitted in PDF format, electronically signed according to the portal’s requirements. The system distinguishes original documents (e.g., articles of association) from copies: you must check the appropriate category when uploading.
An important point: one document still escapes the 100% digital logic: the manager’s specimen signature. This specimen must be certified by a Bulgarian notary or a Bulgarian consulate. A simple electronic signature is not sufficient for this specific document, even if you submit everything else online. This is typically where your local representative comes in: either the manager travels once to sign this specimen before a notary in Bulgaria, signs it before a Bulgarian consul abroad, or a different arrangement is used (initial local manager, then a change of manager).
Once logged into the portal, you must select the option “Application A4 – initial registration”, then enter the company’s details (name, business purpose, registered office, capital, manager), upload the signed PDFs, and finalize the submission by signing everything with the QES.
The key role of QES and providers
For a founder who does not already have a Bulgarian qualified electronic signature, several options exist. Providers such as Evrotrust issue a “cloud” certificate via a mobile app in about ten minutes. Others, like B-Trust or InfoNotary, operate on an in-person issuance basis.
In practice, many specialized platforms (e.g., Firmify) automate a large part of this preparation: they generate the articles of association, minutes, mandatory declarations, and even the A4 form from the data you enter (name, purpose, capital distribution, manager identity…). The idea is to legally secure the content before moving to the signing and submission phase.
The step-by-step procedure, seen from abroad
Setting up a company in Bulgaria remotely is not a matter of “filling out a form in 5 minutes”. It is a real procedure, broken down into logical steps, where each link depends on the previous one.
This sequence can be schematically divided into several successive blocks.
First, the scoping work: define the type of company (EOOD or OOD), choose an available name (in Cyrillic and optionally in Latin), specify the business purpose with its NACE code, set the amount of capital, identify the manager(s). A name availability check is then performed in the Commercial Register; it is possible to reserve the name to secure the registration.
Draft the key documents: deed of incorporation or articles of association, minutes of the founders’ decision, manager’s declarations (Articles 141 and 142 of the Commercial Act), declaration of beneficial owner, and declaration of the person filing (Article 13 of the Commercial Register Act). These documents will be signed on paper and then scanned, or signed via QES depending on the chosen arrangement.
In parallel, you need to resolve the address issue. Bulgarian law requires every company to have a registered address in the country: this can be a standard lease, a domiciliation contract, or a serviced office agreement. The file must include not only the contract but also a specific declaration from the property owner confirming that they authorize the use of the premises as the registered office.
The minimum share capital required in Bulgaria is approximately 1 euro, i.e., 2 BGN, a symbolic amount that can be increased depending on the project.
Once the documents are ready, signed and translated if necessary, and the capital is deposited, the local representative fills out the A4 application online, attaches all the documents, and pays the registration fees. The submission is signed with QES and a tracking number is assigned. Within a few business days, the Commercial Register validates the file or requests additional information.
At the end of this step, the company receives its unique identification code (EIK/UIC), which will be used for all subsequent procedures: opening a current account, tax registration, applying for any licenses, contracts with providers, etc.
Required documents: a lot of paper… even in the digital age
Although the incorporation is “remote”, it is not “paperless”. For a foreign founder, the list of documents is extensive and largely explains the actual duration of the process.
On the side of individuals and structure, you typically find a certified copy of the passport or ID card of each founder and each manager, a recent proof of address (utility bill or bank statement, sometimes requiring translation), the deed of incorporation or articles of association, the minutes of the decision to create the company, the decision appointing the manager, and the various declarations required by the Commercial Act.
The manager’s specimen signature must be notarized. If the founder or manager is abroad, the document can be executed before a local notary with apostille or at a Bulgarian consulate, which avoids certain additional legalizations.
For the company itself, the file includes proof of the registered address (lease, domiciliation contract, title deed) accompanied by a cadastral extract (property plan) and a declaration from the owner. The bank provides a certificate of capital deposit. If a foreign legal entity is a shareholder, a recent extract from its commercial register is required, with apostille and certified translation.
Bulgaria requires the declaration of the beneficial owner to combat money laundering. Any failure to file or late filing can result in fines and complicate the opening of a bank account.
All documents not drafted in Bulgarian must be accompanied by a certified translation into Bulgarian. This is a central and often underestimated point: a document perfectly valid in its country of origin may be rejected by the Bulgarian registry if the chain “notarization – apostille – translation – certification of translation” does not comply with local standards.
Submission procedure: online or in person, your choice
Technically, the founder has two options for submitting their file: physical submission at a counter of the Registry Agency or electronic submission via the portal.
The paper submission avoids the need for a QES, but it is slower and more expensive. The official scans the file, enters it into the IT system, and forwards it for review. The state fees are then higher than for online submission.
A simple and quick procedure for electronic submission of registration forms
Electronic submission is more economical and faster, accessible 24 hours a day.
The representative selects Form A4, enters the information, and checks the attached documents.
The fees are paid by credit card, bank transfer, or local payment platform.
Everything is signed electronically and automatically transmitted to the responsible service.
In all cases, the attached documents must be originals or certified copies, whether they are scanned paper documents or electronically signed documents. It is at this stage that even the slightest inaccuracy in the power of attorney or the slightest formal defect in an apostille can block the file.
Cost of a remote company formation in Bulgaria
Setting up an EOOD or OOD remotely is not ruinous, but it is not a zero-cost operation either. You need to distinguish between “hard” fees (state, notaries, banks, translations) and service provider fees.
Electronic submission for registration costs approximately 28 euros, a low amount for an EU country.
Certified translation costs vary depending on the volume of documents, but a range of 50 to 100 euros is realistic for a standard file. Legalization by apostille or via consular procedures often costs between 100 and 200 euros, depending on the country.
In addition, there are modest bank fees (a few euros for opening the capital account) and, depending on the case, the cost of a QES (around twenty euros per year).
Most remote company formation scenarios cost between 800 and 1,500 euros when adding up agent or lawyer fees and other costs.
These orders of magnitude can be summarized in an indicative table.
| Cost item | Estimated range |
|---|---|
| State fees (court registry, online submission) | ~ €28 |
| Notaries (specimen, local deeds) | €10–50 in Bulgaria |
| Notaries + apostilles abroad | €100–200 |
| Certified translations | €50–100 |
| Bank fees (capital account) | €5–15 |
| Lawyer/agent fees (remote formation) | €500–800 |
| Typical total for remote formation | €800–1,500 |
Share capital can remain symbolic: the law allows a minimum of 2 BGN (about 1 euro). However, you are free to choose a higher amount for image or bank credibility reasons.
Timelines: a few days at the registry, several weeks in real life
On paper, Bulgaria appears to be a fast country for registration. Once the complete file is submitted to the Commercial Register, the standard turnaround time is about 3 to 5 business days, sometimes a bit less if the file is very clean. An expedited review in one business day is available, subject to higher court fees.
But this view is misleading if you think in terms of “overall timeline” for a foreign founder. The uncompressible time in a remote formation occurs well before the final click on the portal: it is everything related to document preparation, notarization, apostille, translation, and shipping to Bulgaria.
Depending on the founder’s country, the apostille can take 1 to 3 business days or longer. A Bulgarian consular appointment can add a week. Secure document shipping to Sofia takes a few extra days. The bank may request additional documents, prolonging the opening of the capital account.
This is why field feedback converges: for a 100% remote formation, well-prepared but realistic, you should expect two to three weeks from signing the power of attorney to obtaining the EIK/UIC number. In more complex cases (multiple foreign partners, old documents, late apostilles), four weeks are not uncommon.
This gap between “registry timeline” and “real timeline” is crucial to understand if you have business imperatives, such as a contract deadline or a visa-related residence constraint.
The bank, weak link in remote formation
Most of the difficulties experienced by foreign founders come not from the registration itself, but from what follows: opening a current account, VAT registration, accounting compliance. The most sensitive point remains the banking relationship.
Bulgarian banks are cautious with structures owned by non-residents. They apply strict KYC and AML/CFT policies, with checks on source of funds, business model, countries where clients are based, etc. Some will accept opening an account based on a file prepared by a representative and/or a video interview; others will require the manager’s physical presence at some point, especially if there are signs of risk (non-EU clients, perceived sensitive activity, crypto links, unclear economic documentation).
In the best-case scenario, the capital account is opened in a few days and converted into an operational current account as soon as registration is obtained. In other scenarios, the bank approves “in principle,” then suspends the procedure pending the manager’s visit for a face-to-face interview. The ultimate risk is outright refusal of onboarding, leaving a perfectly registered company unable to receive a single euro due to the lack of an account.
Bank
To mitigate these risks, it is useful to prepare the KYC file well in advance: passports, proof of address of beneficial owners, CV or professional background summary, brief business plan, clear description of expected financial flows, possible tax certificates. And above all, address the banking issue from the project phase, rather than after the company is created.
VAT, accounting, compliance: the real challenge starts after registration
Another frequent illusion is thinking that once the company is created, the hardest part is over. From a Bulgarian perspective, registration is only the beginning of a long relationship with the tax administration, the commercial register, and, if applicable, social security.
Every Bulgarian company, even with low activity, must maintain accounting records, produce annual financial statements, file them with the register, submit corporate tax returns, and meet tax payment deadlines. VAT adds another layer: depending on turnover (thresholds in BGN) and type of activity (e-commerce, digital services, cross-border sales), VAT registration may be mandatory or strongly recommended much earlier than expected.
E-commerce operators, especially those using platforms like Amazon FBA, often encounter complex rules, sometimes overlapping (Bulgarian VAT, OSS one-stop shop, obligations in other member states). But the first, more basic mistake is assuming that VAT is “optional” as long as you are not making millions. Yet turnover thresholds can be quickly reached, and certain intra-community B2B operations trigger obligations even below those thresholds.
Accounting in Bulgaria is rigid and very procedural, with monthly and annual declarations subject to penalties for late filing. To avoid difficulties, it is recommended to contract accounting support from the moment the company is registered, even for a modest activity.
Setting up a company for a residence permit? A different issue from registration
For non-EU nationals, a common question arises: “If I open a company in Bulgaria remotely, can I then obtain a residence permit?” From a strictly legal standpoint, company formation and obtaining resident status are two separate procedures.
A third-country national can own an EOOD or OOD without applying for residence. A long-stay visa does not imply ownership of a company. Residence permits linked to economic activity follow specific rules: investments, innovative projects or start-ups, with substance checks, investment thresholds, and separate competent ministries.
It is therefore dangerous to confuse “Bulgarian company” and “right to reside”. Remote incorporation primarily addresses an entrepreneurial need (legal structure, access to the European market, tax optimization within the rules) and not a direct immigration project.
Why so many remote founders run into problems… afterwards
The paradox is that in Bulgaria in 2026, registration itself is rarely the point of failure. Files are, if necessary, corrected; the local agent knows the registry’s requirements; the procedure is well-oiled. Trouble arises later.
Banking constraints (dynamic KYC, rejection of certain profiles, demands for physical presence, late refusals) combine with tax obligations (VAT, beneficial ownership declarations, anti-money laundering compliance), creating a potential gap between the founder’s plans (management from abroad with offices and employees) and how the Bulgarian company is perceived by tax authorities.
The problems most often heard are very concrete: unable to open a bank account; VAT registration refused due to lack of clear activity description; penalties for late filings; a foreign state challenging the company’s tax residence on the grounds that its effective management is located there. All of these situations have nothing to do with the validity of the incorporation document itself.
Common mistakes to avoid when setting up remotely
In light of these constraints, the recurring mistakes made by remote founders almost form an inverted checklist of best practices.
The first is choosing a provider based solely on price, with an offer limited to “pure registration.” The file is submitted, the company exists, but no advice was given on banking, VAT, accounting organization, or risks of dual tax residence. Six months later, the founder is scrambling to find an accountant, then a second one, without having anticipated the obligations already incurred.
The second frequent mistake is underestimating the language barrier and the complexity of translations and legalizations. A well-notarized document but without an apostille or with a non-certified translation can invalidate an entire file, and a power of attorney that is too vague, especially without explicit banking authority, is a classic pitfall.
Another trap is trivializing VAT and sector-specific regulations. Some sectors require specific licenses, permits or registrations (financial services, real estate, regulated activities). Others involve cross-border VAT obligations from the start. Ignoring these dimensions means risking VAT registration refusal, tax adjustments, or loss of deduction rights.
If the economic reality (offices, employees, management) is abroad, foreign authorities may challenge the Bulgarian company’s residence and tax its profits, despite the reduced 10% corporate income tax rate and favorable dividend taxation.
Setting up in Bulgaria remotely: yes, it’s possible, but not halfway
At the end of this overview, the initial idea is confirmed: yes, setting up a company in Bulgaria remotely is truly possible, and it is no longer a marginal practice. The law explicitly allows it, the digital infrastructure (electronic register, qualified signatures) makes it technically smooth, and a whole ecosystem of specialized providers has organized to support founders and investors.
Registration is not a simple formality: the documentary prerequisites are demanding, real costs exceed official fees, timelines depend on translations, apostilles, and banks. The real complexity lies in opening and managing a bank account, VAT, accounting, and tax compliance in Bulgaria and abroad.
In other words, setting up a Bulgarian EOOD or OOD from abroad is not a myth: it is a perfectly feasible project, provided you accept that “remote” does not mean “without rigor,” and that success is not measured solely by the moment the EIK number appears on the register extract, but by the company’s ability to actually function, sustainably, within the Bulgarian and European framework.
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FAQ
1.Can I set up a Bulgarian company without travelling?
Yes. Bulgarian law does not require physical presence. You can own 100% and act as manager from abroad.
2.What documents do I need to file remotely?
Identity and corporate documents, certified translations, apostilles, a notarised power of attorney, and a qualified electronic signature for the electronic filing.
3.Which step still requires a Bulgarian notary or consulate?
The manager’s specimen signature. It must be certified by a Bulgarian notary or a Bulgarian consulate, even if the rest is filed online.
4.Is the bank the hard part in remote formation?
Yes. Many Bulgarian banks expect physical presence, so the banking route must be planned before filing.
5.How long does remote formation take?
A few days at the registry, but several weeks in real life once legalisation, translations and banking are included.
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Cyril Jarnias is an independent expert in international wealth management with over 20 years of experience. As an expatriate himself, he is dedicated to helping individuals and business leaders build, protect, and pass on their wealth with complete peace of mind.
On his website, cyriljarnias.com, he shares his expertise on international real estate, offshore company formation, and expatriation.
Thanks to his expertise, he offers sound advice to optimize his clients' wealth management. Cyril Jarnias is also recognized for his appearances in many prestigious media outlets such as BFM Business, les Français de l’étranger, Le Figaro, Les Echos, and Mieux vivre votre argent, where he shares his knowledge and know-how in wealth management.
