Business startup

Dear Gerald,

A limited liability for your startup is the best option.
With such company you can provide services and buy-sell products.
The minimum capital of such company is 2 BGN, you can be a sole shareholder or have a partner if you want.
For the company you'll need an escrow bank account, where the capital have to be deposited. After registration the escrow bank account will by transformed into company bank account.
The registration of the company takes about 1 week.
After registration you can rent a store with the company so you can start your business.
Just care for the lease contract, a lot of agents are working with the owners so keep that in mind.
It is better to have VAT registration of the company from start if you consider having turnover more than 50k BGN per year.
Also you will need an accountant forth invoicing, a cash register and some kind of software for keeping track of the goods in the store.
If you have employees you will need Medical - labor service as well.

I'm a lawyer so if you need more information on the matter let me know I'll be glad to help you the best way I can.

Good morning
Thank you so much for your message, that is really useful information. I only envisage a small turnover and I intend to run it by myself initially with a view to exploring the viability of such a venture for the long term.
Gerald

Thank you very much ☺