Turkish citizens can set up a company in Bulgaria with 100% of their own capital. The most popular type is the single-member limited company (EOOD). The company is registered in the Commercial Register of the Registry Agency; if the documents are complete, registration is completed within a few working days. Corporate tax is 10%. Setting up a company does not by itself give a residence permit; residence requires additional conditions.
Bulgaria has some of the lowest tax rates in the European Union and allows Turkish citizens to set up a company with 100% foreign capital. Every company set up in Bulgaria is a Bulgarian company regardless of its shareholders’ nationality, giving you direct access to the EU market.
Why set up a company in Bulgaria?
- 10% flat corporate tax: one of the lowest rates in the EU
- Formation with 100% foreign capital; no local partner required
- Direct access to the EU market: no customs duties within EU trade
- Euro: Bulgaria has used the euro since 1 January 2026, reducing currency risk
- Close to Türkiye: easy road logistics
- Relatively low rent, labour and management costs
Company types
| Type | Shareholders | Minimum capital | For whom? |
|---|---|---|---|
| EOOD (single-member limited) | 1 natural or legal person | About 1 euro | Sole founders, Bulgarian subsidiary of a Turkish company |
| OOD (limited) | 2 or more | About 1 euro | Joint ventures |
| AD / EAD (joint-stock) | 1 or more | About 25,000 euros | Large investments, special sectors such as banking and insurance |
| ET (sole trader) | One person | None | Small-scale activities; unlimited liability |
For most Turkish investors the most suitable type is the EOOD: the capital requirement is low, the shareholder’s liability is limited to the capital and management is simple. The company can later become an OOD by taking on new partners.
Company or representative office?
If your goal is to sell and invoice in Bulgaria, you set up a company. If your goal is only to promote your Turkish company and obtain residence based on it, a commercial representative office may be more suitable; a representative office cannot carry out commercial activity. The residence conditions of the two routes also differ. For a detailed comparison, see our article representative office or company?
Formation steps
- Checking and reserving the company name: we check that the chosen name is not already used in the Commercial Register.
- Registered office (address): a management address in Bulgaria is required. An office can be rented or an address service used.
- Formation documents: the articles of association (deed of formation for an EOOD), the decision appointing the manager, the manager’s notarised specimen signature and declaration of acceptance are prepared.
- Capital account: a capital account is opened at a Bulgarian bank and the capital is paid in; the bank issues a document confirming this.
- Commercial Register registration: the application is made to the Registry Agency. On registration the company receives its UIC (EIK) number, which also serves as its tax number.
- Post-registration procedures: VAT registration if needed, an accounting contract and, if there are employees, social security registrations.
Documents from Türkiye must be apostilled and given a sworn Bulgarian translation. We prepare the sworn translation and notarisations together with the formation file.
Required documents
For a natural person shareholder:
- Passport
- Notarised power of attorney (so that we can act on your behalf)
- Specimen signature and declaration of acceptance of the future manager
If the shareholder is a Turkish company:
- Trade registry gazette and certificate of activity (apostilled, translated)
- The company’s decision to set up a company in Bulgaria
- Specimen signatures of the authorised representative
The document list varies by company type; we prepare your personal list in the preliminary assessment.
Tax rates
- Corporate tax: 10% of annual net profit
- Dividend tax: 5%
- Personal income tax: 10%
- VAT: 20%; exports and intra-EU supplies are exempt
A flat tax rate makes cost planning easier. Türkiye and Bulgaria have a double taxation avoidance agreement, which is taken into account when profits are transferred to Türkiye.
Obligations after formation
Regular obligations continue after the company is set up:
- Accounting: you need to work with an accountant to keep the books in line with Bulgarian law.
- Annual return: the corporate tax return is filed every year.
- Annual financial statements: published in the Commercial Register.
- VAT: VAT registration is mandatory once turnover exceeds the legal threshold; earlier registration may be needed for intra-EU trade.
- Employees: hiring requires an employment contract and social security notification.
Dormant companies also have annual filing obligations. Fines apply if these obligations are not met.
Does a company give a residence permit?
Being a shareholder of a company does not by itself give a residence permit. For residence through a company, conditions such as the company employing a certain number of Bulgarian employees apply. Meeting these conditions is not easy for every investor; so in many cases residence through a commercial representation is a more suitable route. We compare all options on our Bulgarian residence permit page.
How does the process work?
- Preliminary assessment: we listen to your business plan and determine the right company type and residence route.
- File preparation: we take care of obtaining documents, apostille, translation and notarisation.
- Registration: we manage the bank account, address solution and Commercial Register application.
- Follow-up: we support you with VAT, accounting and residence procedures after registration.
Related guides
- Opening a representative office in Bulgaria
- Representative office or company?
- Costs and obligations of a representative office in Bulgaria
- Residence permit through a commercial representation
Frequently asked questions
What documents are required for a limited company?
- An application containing the company details
- Articles of association or deed of formation
- A bank document showing the paid-in capital
- Identity or company documents of the shareholders
- The manager's notarised specimen signature and declaration of acceptance
- Other documents required by law
What documents are required for a joint-stock company?
- An application containing the company details
- Minutes of the founding meeting as required by commercial law
- Certificate of authority of the legal entity
- A document showing the paid-in capital
- Other documents required by law
Do I need to be in Bulgaria to set up a company?
With your power of attorney we carry out most of the formation steps on your behalf. For some steps, such as opening a bank account, the bank may require you to be present; we share this with you in the preliminary assessment.
How many days does it take to set up a company in Bulgaria?
If the documents are complete, the Commercial Register registration is completed within a few working days. Including obtaining documents from Türkiye, apostille and translation, the whole process usually takes a few weeks.
Is a Bulgarian partner required?
No. All shares of the company can belong to a Turkish citizen or a Turkish company. The manager does not have to be a Bulgarian citizen either.
Can my Turkish company set up a subsidiary in Bulgaria?
Yes. Your Turkish company can set up an EOOD as the sole shareholder. In that case the Turkish company's registry documents are added to the file, apostilled and translated.
Fill in the form below for a free preliminary assessment; our expert will call you and explain the steps for your file. If your documents are ready, you can also upload them to our free document review.