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Registration of individual entrepreneurs (analogue) in Bulgaria

In Bulgaria, to drive entrepreneurial activity you can register the Ukrainian analogue individual entrepreneur, which is called merchant or ET.

Characteristic features of ET:

  • it is an individual, not a legal entity, which must have full legal capacity and have an EHR (single civil number)
  • responds to everyone proper him by property
  • may register both a citizen and a foreigner, but in case a foreigner has a requirement that he has constantly lived in the country and has a permanent permit or temporary residence
  • absent the requirement of minimal capital for registration

Despite the fact that the law does not clearly say what the ET can do to only citizens of Bulgaria or foreigners with permanent permits or temporary residence, de facto this option is only available to those who have only a civil number.

That is Ukrainians with temporary protection and a personal number of a foreigner in Bulgaria cannot register as ETs.

Phased process ET registration in Bulgaria

Choice of ET names.

Name has necessarily consisted of a name an entrepreneur and you need to be sure that your name ET is still no one is busy. You can do this on the website of the Trade Register, where it is collected information about all ETs.

Gathering necessary documents.

  • Application for ET registration. It must be printed, filled out, and signed on the spot submission of the application.
  • Agreement to be a leader and a sample signature Mandatory notarial assurance.
  • A document that certifies identity (passport, and for foreigners also a personal card).
  • three Declarations which also must be signed.

Serving ready documents to the Registration Agency (this you can do personally or through a lawyer).

Payment of state duty.

Some species activities (for example, the opening of a pharmacy) are provided receiving licenses. Documents for receipt license are served after ET registration.

Terms of consideration of the application by the Trade Register – up to three workers’ days After this name and data firm appear in the Trade Register.

Register in the Trade Register you can in two ways – online or personally, at the same time toll bidet more when applying online.

Reporting ET

Regardless of whether is being conducted actually activity or not, ET is mandatory to have present reporting.

Annual tax the ET declaration is submitted as an individual. Apart from the annual declaration also necessary to present an annual financial report.

If in a year profit is within 200 thousand levs and you did not conduct a financial audit, then an annual financial report may comprise only a profit and loss statement.

The last report that is necessary to submit – is the annual activity report. When you serve this report, provide you the entry number, which must be entered in the tax office declarations.

If the activity, was not discussed during the year it is necessary to submit the appropriate declaration to the National Statistical Institute.

Everyone from these species reporting has their own registration rules, and deadlines for submissions, which they know only specialists to whom we advise apply. Because this way you will not come across punishment in the form of fines or sanctions. We appeal to attention, that in Bulgaria effectively the verification system is functioning activities of ET.

In Bulgaria, ET pays sprat species taxes:

  • Income tax: It basic tax that individual entrepreneurs are paid with their income The rate is 10%. This is one of the lowest rates in
  • Social Contributions: Individual entrepreneurs also have an obligation to pay social contributions which are used for covering different social programs and medical insurance.
  • Additional taxes: Some industry businesses can be subject to additional specials according to habits or meetings. For example, those who work in the field of tourism can be applied tourist tax.

If you make a mistake during registration, you will receive pronunciation in registration, at the same time state the registration fee is non-refundable.

Accordingly, we advise you not to take any risks and to contact the legal counsel company “Prikhodko and Partners ” for help.

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