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Home > Country profiles > Operating a Business

Bulgaria: Operating a Business

Setting Up a Company | Working Conditions | Cost of Labor | Social Partners

Setting Up a Company

Legal Business Entities

Types of Companies and Capital (Max/Min)	Number of Partners/Shareholders and Liability
Private Limited Company (OOD) Minimum BGN 50,000 (shares of minimum BGN 500).	Minimum 2 partners. 1 member for a sole proprietorship. Liability is limited to the amount contributed.
Joint-stock company (AD) Minimum BGN 1 million (5 million in case of public subscription).	Minimum 2 shareholders. Liability on assets of the company and up to their value towards creditors.
General partnership No minimum capital.	Minimum 2 partners. Partners' liability is joint and unlimited
Limited partnership No minimum capital.	Minimum 2 partners, a sleeping partner and an active partner. Active partners' liability is joint and indefinite. Sleeping partners' liability is limited to the amount contributed.
Partnership limited by shares Minimum BGN 1 million ( 5 million in case of public subscription).	Minimum 3 sleeping partners. Minimum 2 active partners. Active partners' liability is joint and unlimited. Sleeping partners' liability is limited to the amount contributed.

The Competent Organization: It is possible to register a business directly on the site Invest in Bulgaria. Formalities take between 2 and 3 weeks.

Setting Up a Company	Bulgaria	Eastern Europe & Central Asia
Procedures (number)	4.0	6.3
Time (days)	18.0	16.3

Source: Doing Business.

Business Setup Procedures: Consult Doing Business Website, to know about procedures to start a Business in Bulgaria.
Register of commerce, only in Bulgarian.

Working Conditions

Legal Weekly Duration: 40 hours
Retirement Age: 55 years for women and 60 years for men.
Working Contracts: Contracts can be short-term or permanent.
For further information visit the site Worldwide Tax.

Cost of Labor

Minimum Wage: 270 new lev (USD 181)
Average Wage: Average monthly gross earnings in Bulgaria is BGN 690 (USD 488).
Social contributions: Social Security Contributions Paid By Employers: 34%
Social Security Contributions Paid By Employees: 1%

Social Partners

Social Dialogue and Involvement of Social Partners: The 2 most significant unions are: the Confederation of independent Trade Unions CITUB (Bulgarian only) and Podkrepa
Unions: Podkrepa
Labor Regulation Bodies: Ministry of Labor and Social Policy

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Learn more about Operating a Business in Bulgaria on Globaltrade.net, the Directory for International Trade Service Providers.

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Last Updates: May 2012

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