Starting a Business in Bulgaria

Most foreigners buying a house will also register a company, since, as already stated, foreigners cannot yet own land outright but must do so through a ocally registered company.The lawyer dealing with your purchase will normally organise this foryou. When registering the company there is an opportunity to list which activities the company will undertake. Use this opportunity to register any activities you might consider for your own business.

rural countryside - agricultural business in bulgaria
Registering a company is much the same as in the UK. You select a name for the company and declare who the owners or directors are. Hotels, bars, crafts, farming and bed and breakfast businesses are all areas where foreigners have been successful in setting up businesses. Some have moved into completely new areas while others have tried to adapt the skills they used back home -knowledge of information technology (IT), for example, is widely sought-after, and British and Bulgarian IT know-how can combine well. The Bulgarian government provides some support for small businesses through the joint EU and Ministry of Labour and Social Policy employment programmes, but unless you are a fluent Bulgarian speaker such support will be hard to access.
If you intend to set up a business there are many other things you’ll need to be aware of, such as business planning,taxation and employment contracts.These are outlined in Settling In. It will benecessarytoseektheadviceofa lawyer, who should be able to guideyou through the process and act as a conduit for advice from other specialists, such as accountants or technical consultants. Preparation and learning from others is just as important, so if you have a chance to work with someone else first to learn the ropes, so much the better. Even working for free will pay dividends when you come to launch your own enterprise, so be creative and look for learning opportunities.
Remember, if your client base is foreign tourists then you will be dealing with people who are in your own situation. If you are thinking of trading between the UK and Bulgaria, look carefully into import and customs matters before investing too much. Where possible consider the advantages and disadvantages of a local partnership. Start small and build up experience before putting in too much money.

Businesses for sale in Bulgaria

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