Bulgaria, Poland, Latvia, Hungary attract Russian-speaking immigrants with a common culture and ease of adaptation. And besides, in these countries, it is often easier to open a business and get a residence permit, as the government does its best to develop a market economy and needs investment.
How to open a business in Bulgaria and obtain a residence permit
Registering your own company is an opportunity to get a residence permit, and subsequently, apply for citizenship. The easiest way to buy a ready business in Bulgaria. Prices may vary. For example, in Sofia, it is realistic to buy a small cafe for 80,000 dollars, and for 3,000,000 to purchase a dairy plant in the same city. A small hotel will cost from 700 000 to 1 000 000 dollars.
It cannot be said that registering your own company will be cheaper. That is, the procedure itself is not so complicated and costly, but the subsequent maintenance of the company will cost a pretty penny. Everyone who decides to open his own business is obliged to provide a minimum of jobs to Bulgarian citizens in order to obtain a residence permit. However, you can simply open a representative office of a Russian company, then you will not have to create jobs.
Let’s look at the options for the organizational form of your future enterprise. Each of them has advantages and disadvantages. On average, the cost of registering a company will cost you 800 euros, and this amount does not include the share capital.
Although Bulgaria has been a member of the European Union since 2007, its territory has its own currency – the Bulgarian Lev.
Individual entrepreneur (sole proprietor or ET)
This is the simplest form of organization, similar to the Russian IP. The company name must contain the full name of the owner.
- No share capital;
- The founder may be a non-resident who already has a permit for permanent residence in the country;
- Bears full responsibility with all its property;
- Tax – 10% of the profits.
For emigration, this option is not suitable, since the risk of being left without money and property is too great, and, moreover, you must already have a residence permit in Bulgaria to register an ET.
By registering a company of another form of ownership, you can apply for a residence permit.
Full partnership (exaggerated friendship, or CD)
- There is a statutory capital but is not regulated by law, and it must be at least 2 leva;
- The organizers can be at least two people;
- The founders are responsible for all their property ;
- The relations of the founders are governed by the memorandum of association;
- Participants have the right to enter into transactions only with the full consent of other members of the partnership.
This very specific option is also not suitable for a business organization by a non-resident. He is quite risky and requires full confidence in the partners.
Limited partnership (Commando Friendly, or KD)
- The founders are kommanditeri, who can lead the community, and limited partners, who initially make a contribution to the share capital (original shareholders);
- Only the kommanditers bear full responsibility with their property and the limited partners are only responsible according to the contribution to the authorized capital;
- Share capital can be any.
This form of enterprise is used mainly in the family business among the Bulgarians themselves. For immigration, it is risky.
Joint-stock company (it is Joint-Stock Friendship or AD)
- The authorized capital is at least 50,000 leva, which is equivalent to about 1,350,000 rubles;
- Founders may be non-residents, including legal entities;
- The authorized capital of any financial organization is regulated at the state level;
- The founder is at least one person;
- The founders are fully liable with all the assets of the Company (not personal, as opposed to CBA, SD or ET).
The minimum value of each share is at least 1 lev, and the Company is governed by a shareholders meeting. This option is more preferable and allows you to hope for a residence permit. True, you first need to get a special visa, and only after that deal with the issue of obtaining a residence permit.
Please note that a business visa to Bulgaria is one of the short-term visas provided for entry into the country at the invitation of business partners. When organizing a business in Bulgaria, you should get a so-called long-stay visa (type D), it’s also an immigration visa.
Limited Liability Company with Shares (Limited Partnership with Shares, or KDA)
- The authorized capital is at least 50,000 leva, but here you can initially deposit only half, and only then begin to raise the remaining funds;
- The founder is at least one committer (manager) and three limited partners (shareholder);
- The commanders bear full responsibility with all their property, including personal property, and the commanders-only in proportion to the share of each in the share capital.
Limited Liability Company (A partnership with limited responsibility or solely A partnership with a limited responsibility)
- The minimum share capital is 2 levs;
- At least one founder, including a legal entity;
- Full responsibility for all property of the Company.
This option is most preferable for non-residents since it does not require large financial expenditures at the initial stage. However, it should be remembered that to obtain a residence permit, you need to create 10 jobs for the Bulgarians.
There is another opportunity to get permanent residence in Bulgaria immediately. To do this, invest in the economy at least $ 500,000 at a time.
Do not forget about the taxes that have to pay. Income tax is 10%, corporate tax is 10%, and VAT is 20%, which should be taken into account when setting pricing policies.
The most promising niches for your business in Bulgaria
The most attractive area for organizing your own business may be Burgas. It is here that the special economic zone is based on the possibility of duty-free movement of goods to the countries of Europe and the Middle East. And the city itself is a major commercial and cultural center of the country.
In Burgas it is advantageous to organize enterprises of the following orientation:
- Transport and transportation;
- The property.
In the area of Bourgas is Sunny Beach, one of the most popular resorts on the Black Sea. This allows you to earn well on the delivery of real estate for rent, cargo transportation, on tourism in general.
Varna is another paradise on the Bulgarian coast, where tourists from all over the world flock to. And although the cost of real estate here is quite high, it can quickly pay for itself due to the large flow of people willing to rent or buy housing. It is also advantageous to open hotels, restaurants and cafes, entertainment facilities.
It cannot be said that the procedure for obtaining citizenship is very simple. Persons of interest to the government in the field of science, art, sports or economics, as well as those with ethnicity, can apply for citizenship.
The remaining foreigners can receive permanent residence, which is actually equivalent to citizenship. To obtain a permanent residence in the Republic of Belarus, you must meet one of the following requirements:
- To reside in the country for at least 5 years on the basis of a residence permit (initially it is issued for 1 year with a subsequent extension);
- Have a Bulgarian origin;
- Adopt a child-citizen of Bulgaria;
- Invest in the economy of at least $ 500,000;
- Marry a citizen of this country;
- Have Bulgarian parents (only for minors).
The Bulgarian Republic is happy to accept and secured pensioners. To do this, they just need to provide documents about the presence of a high pension or buy residential real estate.
Every citizen who has ancestors (usually parents or grandparents) of Bulgarian origin can be granted citizenship on the basis of ethnicity. To do this, you must provide the following documents to the Sofia Immigration Service:
- Passport and its copy, notarized;
- International passport and copy;
- 4 color photos 3,5×4,5 cm;
- Birth certificate (the original document is submitted for consideration, which is then returned to the owner);
- Original certificate of good conduct;
- Information about spouses, children, parents and other close relatives, including their names and birth data;
- Official petition for citizenship (“plea”);
- Medical certificate form 286, information about the absence of AIDS, sexually transmitted diseases and mental diseases.
Such applications are considered within two months.