100% Ownership in Bulgaria for Non-EU Citizens
At T&G Consulting we’re asked weekly: can non-EU citizens fully own a Bulgarian company? Yes — both EOOD and OOD can be 100% foreign-owned. What matters is aligning formation, banking and tax so banks and authorities also say “yes”.
Who can own and when
- No local partner required; directors may be non-EU residents.
- Licences apply only to regulated sectors (finance, healthcare, security).
Formation checklist
- Capital: 2 BGN.
- Registered office in Bulgaria.
- Docs: name check, Articles, UBO filing.
- Manager appointment: can be the foreign owner.
- Foreign docs: notarised, apostilled/legalised, sworn translation.
- Power of Attorney: enables remote incorporation.
Timeline: with a complete file, registration typically finalises within a few business days. 🧾
Banking: where approvals hinge
- Strict EU AML/sanctions checks; prove source of funds and PEP screening.
- Substance: clients, suppliers, office/virtual office, website.
- Clear business model and payment flows; expect in-person KYC.
Bank-ready documents
- Business plan: markets, products/services, volumes, refunds.
- Commercial proof: contracts, pro-formas, LOIs, supplier quotes.
- Substance: lease/virtual office, BG phone, website, accounting engagement.
- KYC pack: passports, address proof, CV/LinkedIn, tax IDs, bank statements.
- Source of funds: capital and operating funds documentation.
Formation vs. Bank
| Area | Requirements | Common pitfalls |
|---|---|---|
| Formation | 2 BGN, office address, Articles, manager, UBO, translations/apostille | Missing translations; incomplete UBO; no PoA for remote setup |
| Bank account | KYC, source of funds, contracts, substance, risk review | Weak activity evidence; unclear flows; high-risk geographies |
Interim options
While pursuing a local account, launch with an EU-licensed fintech IBAN and card acquiring. Confirm acceptance with marketplaces and counterparties.
Tax & compliance snapshot
- Corporate tax: 10%.
- Personal income tax: flat 10% (for BG tax residents).
- Dividends: typically 5% WHT to foreign individuals (treaties may vary).
- VAT: 20%; consider OSS for intra-EU B2C sales.
- Ongoing: monthly bookkeeping, annual accounts/return, up-to-date registers (UBO, address, management).
Ownership is not immigration
Company ownership does not grant residence or work rights; plan immigration and tax residency separately and early. 100% ownership is fully feasible; incorporation is fast, and banking approvals improve with solid documentation and demonstrable substance.
Contact T&G Consulting for a clear “formation → banking → VAT/OSS” roadmap and start invoicing EU clients without delay.
For more information, you can visit our partner’s channel here!