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flag Bulgaria Bulgaria: Operating a Business

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

 

Setting Up a Company

Private Limited Company (OOD)
Number of partners: Minimum 2 partners. 1 member for a sole proprietorship.
Capital (max/min): Minimum capital of BGN 50,000 (shares of minimum BGN 500).
Shareholders and liability: Liability is limited to the amount contributed.
Joint-stock company (AD)
Number of partners: Minimum 2 shareholders.
Capital (max/min): Minimum BGN 1 million (5 million in case of public subscription).
Shareholders and liability: Liability on assets of the company and up to their value towards creditors.
General partnership
Number of partners: Minimum 2 partners.
Capital (max/min): No minimum capital required.
Shareholders and liability: Partners' liability is joint and unlimited
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.
Partnership limited by shares
Number of partners: Minimum 3 sleeping partners. Minimum 2 active partners.
Capital (max/min): Minimum BGN 1 million ( 5 million in case of public subscription).
Shareholders and liability: Active partners' liability is joint and unlimited. Sleeping partners' liability is limited to the amount contributed.
The Competent Organization
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) 4.0 6.0
Time (days) 18.0 14.0

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

20122013
Labor force 2,451,0002,551,000

Source: CIA - The world factbook

 
200920102011
Total activity rate -54.50%54.20%
Men activity rate 61.20%60.00%60.30%
Women activity rate 48.20%48.50%48.60%

Source: UN - United Nations

 

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

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Cost of Labor

Minimum Wage
BGN 123 per month (source: ILO, 2011).
Average Wage
Gross average monthly wage of men: BGN 717 (source: ILO, 2010);
Gross average monthly wage of women: BGN 579 (source: ILO, 2010).
Social contributions
Social Security Contributions Paid By Employers: 34%
Social Security Contributions Paid By Employees: 1%

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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
Labor Regulation Bodies
Ministry of Labor and Social Policy

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Learn more about Operating a Business in Bulgaria on Globaltrade.net, the Directory for International Trade Service Providers.

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Last Updates: December 2014