
Although
Bulgaria 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.
The
company 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,
Bulgaria employs the
third largest market of IT specialists at a global level.