Doing Business in Bulgaria

 

Business start up costs in Bulgaria

 

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

Hire an accountant

part-time or full-time depending on whether the company is operational or not

-

100 – 500

Open a bank account

-

less than a day

20 - 50

Translation service

the only accepted language in Bulgarian courts is Bulgarian

 

5 – 10 / per page

VAT registration

It is required if the company has a turnover of more than 50 000 leva

2 – 3 weeks

around 150

Cost of office space in Bulgaria (Sofia and Varna)

Location

Cost (EUR per sq. m.)

 

buy

rent

Sofia – Class A Office Building

1500 – 2000

20 – 30

Sofia – New Business Building or business Park

800 – 1400

12 – 17

Sofia – office Apartment Downtown

1200 – 2000

3 – 12

 

 

 

Varna – Class A Office Building

1200 – 1800

14 – 25

Varna – New Business Building or business Park

800 – 1400

12 - 14

Varna – office Apartment Downtown

800 – 1400

3 – 10

Prices of properties in Bulgaria

Type of property

Price range (EUR)

 

Low

High

City of Sofia apartments

 

 

1 BR apartment Sofia Downtown (up to 50 m 2 )

40 000

55 000

1 BR apartment Sofia Suburbs (up to 50 m 2 )

25 000

35 000

2 BR apartment Sofia Downtown (to 50 m 2 to 70 m 2 )

65 000

75 000

2 BR apartment Sofia Suburbs (50 m 2 to 70 m 2 )

30 000

50 000

3 BR apartment Sofia Downtown (70 m 2 to 110 m 2 )

80 000

100 000

3 BR apartment Sofia Suburbs (70 m 2 to 110 m 2 )

50 000

60 000

4 BR apartment Sofia Downtown (more than 110 m 2 )

90 000

150 000

4 BR apartment Sofia Suburbs (more than 110 m 2 )

60 000

100 000

Black Sea coast

 

 

1 BR apartment Sunny Beach Resort

35 000

60 000

3 BR apartment Sunny Beach Resort

75 000

130 000

1 BR apartment Sozopol

30 000

55 000

3 BR apartment Sozopol

75 000

130 000

Houses on the Black Sea coast

 

 

House in the town of Nesebur

60 000

150 000

House in the town of Sozopol

50 000

140 000

House in the town of Balchik

35 000

100 000

House in the town of Primorsko

40 000

120 000

Mountain and ski resorts – Pamporovo

 

 

1 BR apartment Pamporovo

30 000

55 000

3 BR apartment (120 m 2 )

75 000

110 000

House near Pamporovo (250 m 2 )

30 000

100 000