How to buy a car and work for yourself with “temporary protection” status?

Bulgaria is an exceptionally business-friendly country. Opening a company here is fairly simple, provided of course that you turn to professionals for help. Whereas the main obstacle used to be the difficulty of opening a bank account for foreign company owners, banks now open accounts relatively easily for people arriving from Ukraine. In addition, you can limit yourself to an account with a payment system.

Once the company is set up, you can engage in any business. Please note: providing paid services without setting up a company is illegal, even if it is simply baking pies or eyelash extension services. Some client may complain to the National Revenue Agency (NAP), and then serious fines are inevitable, so it is better to legalise your activity in advance by opening a company.

Bulgaria has various legal forms for legal entities; the most popular and convenient options are OOD (LLC) and EOOD (single-member LLC). These are limited liability companies. In the case of an OOD there can be two or more founders, while an EOOD is set up by a single founder only.

The latter option is ideal for sole entrepreneurs. Although Bulgaria has a form known as ЕТ (едноличен търговец), this form is not available to foreigners with “temporary protection” status. Only a citizen of the country, an EU citizen or a foreigner with a permanent residence permit / EU long-term resident status can become a sole trader (ЕТ) in Bulgaria.

Thus, any activity — from working as a hairdresser to major international operations — is carried out only after setting up a legal entity. A purchased car or property, including a plot of land, can also be registered in the company’s name. Under Bulgarian law, foreigners cannot acquire land as private individuals, but this option is available to legal entities.

Other advantages of a company in Bulgaria:

• The ability to manage it remotely.
• The ability to open an account not only with a Bulgarian bank, but also with a payment system and with other banks around the world.
• The ability to operate in the EU.
• The ability to obtain a loan at a lower interest rate than a foreigner as a private individual.
• The ability to purchase equipment or vehicles on lease.
• The ability to work for yourself without obtaining a work permit.
• A stable political and economic situation in the country.

Bulgarian Expert offers services for setting up companies in Bulgaria. The process takes about 1 week, after which you can start working on a lawful basis. Ukrainian citizens receive a discount on our services! We also offer assistance in servicing companies that are already operating, at all stages, as well as accounting and legal services.

Company registration in Bulgaria

Accounting services for your company in Bulgaria.

Buying a car in Bulgaria