is a small country, it provides one of the most advantageous business environments for performing commercial activities in the information technology (IT) sector
. Businessmen who want to open a company in Bulgaria
in the IT sector
can set up their operations in a country which ranks as the 43rd economy at a global level from this point of view, providing a better business market than the neighbouring countries. Our team of company formation representatives in Bulgaria
offer legal advice on the registration procedure
, as well as on the compulsory documents that must be submitted with the local authorities.
Register a Bulgarian IT company
After the investors have decided on the most suitable type of legal entity,
the next step is to draft the company’s statutory documents
at a public notary in Bulgaria
In this sense, the procedure of company formation in Bulgaria
will require an affidavit signed by the general manager in accordance with the regulations of the Article 141 of the Commercial Act
Another necessary step refers to the registration of a corporate bank account
with a local bank in Bulgaria
. The procedure can be completed by our team of company formation agents in Bulgaria
through the power of attorney. Further on, the IT company
should also be registered with the Commercial Registry
, a procedure in which the investors will need to provide the following documents:
• agreement of association;
• resolution of appointing managers;
• signature specimen of the managers;
• a certificate which attests the company’s subscribed capital.
must also register for value added tax
with the National Revenue Agency
Bulgarian IT sector
Businessmen who want to start the procedure of company registration in Bulgaria
in the IT sector
will need to receive business permits, depending on the company's main operations
. The Bulgarian IT sector
represents a top economic field, as it generates 10% of the country’s gross domestic product.
The IT sector in Bulgaria has been
increasing at a steady rate and it is important to know that, on average, the field develops on an annual rate of 17% (starting with 2007).
In terms of employment
in the IT field
employs the third largest market of IT specialists
at a global level.