Operating a Business

flag Bulgaria Bulgaria: Operating a Business

In this page: Setting Up a Company | The Active Population in Figures | Working Conditions | Cost of Labour | Social Partners

 

Setting Up a Company

Ednolichen Tatgovetz or E.T. (sole proprietorship)
Number of partners: 1 person
Capital (max/min): No minimum capital required.
Shareholders and liability: No distinction between the individual and the society. The responsibility of the entrepreneur extends to his personal patrimony.
Druzhestvo s ogranichena otgovornost or O.O.D. (Private Limited Company)
Number of partners: Minimum 2 partners. 1 member for a sole proprietorship.
Capital (max/min): Minimum capital of BGN 2.
Shareholders and liability: Liability is limited to the amount contributed.
Aktzionerno druzhestvo or A.D (Joint-stock company)
Number of partners: Minimum 2 shareholders.
Capital (max/min): BGN 50,000 of which at least 25 % must have been paid at the time of incorporation.
Shareholders and liability: Liability on assets of the company and up to their value towards creditors.
Sabiratelno Druzhestvo ou S.D. (General partnership)
Number of partners: Minimum 2 partners.
Capital (max/min): No minimum capital required.
Shareholders and liability: Partners' liability is joint and unlimited
Komanditno druzhestvo ou K.D. (Limited partnership)
Number of partners: Minimum 2 partners, a sleeping partner and an active partner.
Capital (max/min): No minimum capital required.
Shareholders and liability: Active partners' liability is joint and indefinite. Sleeping partners' liability is limited to the amount contributed.
The Competent Organisation
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) 7.0 5.3
Time (days) 23.0 11.8

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.

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The Active Population in Figures

201820192020
Labour Force 3,327,4343,377,3883,238,899

Source: International Labour Organization, ILOSTAT database

 
201720182019
Total activity rate 71.48%71.67%73.37%
Men activity rate 75.60%76.03%77.74%
Women activity rate 67.27%67.20%68.87%

Source: International Labour Organization, ILOSTAT database

 

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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.
Labour Laws
Consult Doing Business Website, to obtain a summary of the labor regulations that apply to local entreprises.

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Cost of Labour

Minimum Wage
The minimum wage is BGN 650 per month in 2021 according to Eurostat.
Average Wage
According to data from the National statistical institute of the Republic of Bulgaria the gross average monthly wage was BGN 1,386 in 2020.
Social Contributions
Social Security Contributions Paid By Employers: Between 18.92% and 19.62% of wages according to the category to which employees belong.
Social Security Contributions Paid By Employees: 13.78% of gross earnings.

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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
Labour Regulation Bodies
Ministry of Labor and Social Policy

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Latest Update: October 2022