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Open a Travel Agency in Bulgaria

Updated on Monday 02nd March 2020

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Open-a-travel-agency-in-Bulgaria.jpgThe great geographic location of Bulgaria with important Black Sea exits, beautiful beaches and attractive landscapes with mountains and traditional villages makes the country suitable for foreign investments and businesses. As a recommendation, you can open a travel agency in Bulgaria, with internal and external offers, for all local or foreign citizens. Our company formation specialists in Bulgaria can provide you with suitable information about the documents you need to prepare and licenses you need to obtain. The company registration in Bulgaria is an easy and normal process as for any type of company, which can be done within a few working days, if the entrepreneur receives the necessary approvals.
 

Conditions to open a travel agency in Bulgaria

 
The tour operator businesses in Bulgaria are listed as companies with the Register of Tour Operator and Travel Agents and registered with the Bulgarian Ministry of Economy, Energy, and Tourism. It is good to know that the travel agencies in Bulgaria deal with an informal registration procedure where special conditions need to be considered:
 
  • •    after registering the company as a travel agency, the tour operator or the manager of the travel agency needs to be qualified for such business;
  • •    the travel agency needs to be secured with a recognized insurance company in Bulgaria;
  • •    the travel company needs to provide the license as a tour operator available for Bulgaria.
 
The foreign or local entrepreneurs who want to activate as a tour operator on the Bulgarian territory need to prepare the right documents according to the rules and regulations postulated in the Bulgarian Tourism Act. They can also consider the skilled workforce in Bulgaria, where young people are trained and experienced in the tourism sector.
 
If you want to set up a travel agency in Bulgaria, you can receive complete guidance and assistance from our company formation agents in Bulgaria. Details about the company registration procedure will be also offered by our consultants.
 

What is the proper business structure for a travel agency in Bulgaria?

 
The limited liability company is the most common business structure that suits most of the activities in Bulgaria, including the ones in the tourism sector. A travel agency can run under the rules of a limited liability company or OOD as it is known in Bulgaria, respecting the Company Act and the Commercial Code. Here are some details you need to know about the limited liability company in Bulgaria:
 
  1. An LLC in Bulgaria can be established with a minimum share capital of 1 EUR or BGN 2.
  2. The registration of an LLC in Bulgaria starts with a name verification and reservation with the Bulgarian Trade Register.
  3. The minimum share capital needs to be deposited in a local bank account.
  4. The Bulstat number is the tax identification code that needs to be obtained. LLCs in Bulgaria need to register for VAT and other social contributions.
  5. Once the company seal is obtained, the company can have activities in Bulgaria.
 
The incorporation process of a company in Bulgaria has been simplified in recent years, allowing domestic and international investors to have a fast business start on the market. Even in these conditions, it is recommended to have the support of a team of company formation agents in Bulgaria. One of our specialists can also offer accounting services on request.
 

What kind of activities can I have as a tour operator in Bulgaria?

 
Travel agencies in Bulgaria can develop a wide range of activities related to the tourism sector. Inbound and outbound travel services can be provided on the market, alongside the following:
 
  • Besides booking destinations, a travel agency can reserve flight tickets and hotel accommodations.
  • Travel agency operations can also address to companies and group services.
  • Local and international destinations can be booked for all kinds of tourists.
  • Your travel agency can also handle all the requirements in terms of visas.
 
Many tour operators in Bulgaria have special departments that handle various kind of services, for local or foreign customers, so you might want to have in mind such ideas when setting up a travel agency in this country.
 

Can I open a travel agency in Sofia?

 
Yes, Sofia is a solid business center in Bulgaria, and that because the capital is home to numerous companies and businesses from abroad. Investors from overseas can also establish branches and subsidiaries of their travel agencies in Bulgaria. The procedures are not complex for such kind of structures, but you might want to ask for assistance and guidance from our team of specialists. Sofia aligns with international business centers in terms of affairs and large commercial activities, so you might want to place this city on your list when deciding for a travel agency.
 

Why open a travel agency in Bulgaria?

 
Bulgaria is a welcoming country where businesses can be established on suitable costs and profits. A travel agency can be a proper choice for all foreign investors who want to establish their presence in the country. Greece, Turkey, Romania, Macedonia, and Serbia are strong economic neighbors for Bulgaria, but as a travel agency, you can develop great relations with exotic destinations worldwide, to provide the clients interesting travel and holiday offers. Owning and developing a travel agency in Bulgaria is from many points of view a great business idea that addresses to local and foreign investors wanting to enlarge their portfolios in the tourism sector. Another great advantage is that a tour operator in Bulgaria can have access to a wide range of local and foreign partners and can develop a large database of clients, local and abroad. We remind that international entrepreneurs with companies in Bulgaria can benefit from a series of important incentives and encouragements if they hire local workforce and make investments in the company.
 

Investing in Bulgaria

 
The appealing and strategic geographic location of Bulgaria represents a huge business advantage for international entrepreneurs with operational intentions in this part of Europe. The low costs for hiring staff, the attractive tax structure, the simple procedures for opening companies in Bulgaria and the multitude of business opportunities are a few of the advantages of Bulgaria, in terms of business and profits. The tourism sector, the real estate field, agriculture, the R&D sector, and manufacturing are among the prolific ones in Bulgaria. The following facts and statistics show the business and the economic direction in Bulgaria:
 
  1. According to the 2020 Doing Business report issued by the World Bank, Bulgaria ranks 61st out of 190 worldwide economies.
  2. Around 17.3% of the total investments in Bulgaria in 2018 came from the Netherlands.
  3. Most of the foreign direct investments, around 24% were directed to the real estate sector in Bulgaria in 2018.
  4. The total FDI stock for Bulgaria in 2018 was approximately USD 49.2 million.
  5. Bulgaria has the lowest corporate tax rate in Europe, set at 10%.
 
If you want to open a travel agency in Bulgaria or if you need information about the company registration procedure you can contact our team of company formation representatives in Bulgaria.

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Call us now at +359 888 350 643 to set up an appointment with our specialists in company formation in Sofia, Bulgaria. Alternatively you can incorporate your company without traveling to Bulgaria.

As our client, you will benefit from the joint expertize of local lawyers and international consultants. Together we will be able to offer you the specialized help you require for your business start-up in Bulgaria.

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