What to Do After Receiving Your EIK?

What Comes After Receiving Your EIK?

Short answer: After entry in the Trade Register, you need to: 1) open a bank account, 2) hire an accountant, 3) register with the NRA as a self-insured person (if you are the manager), 4) assess whether VAT registration is needed, and 5) ensure GDPR compliance if you process personal data.

The First 7 Days

Bank Account

The first step is to transfer the funds from the escrow account to a current account of the now-registered company. Without a bank account, you cannot receive payments or develop the business.

You will need:

• A current status certificate from the Trade Register (can be downloaded for free from registryagency.bg)
• The manager's identity document
• Articles of Association / Articles of Partnership
• Manager's specimen

Self-Insurance (OKD-5)

If you are the manager and a self-insured person, file a declaration OKD-5 with the NRA within 7 days of starting activity. This initiates the obligation for monthly social security contributions.

Social security contributions at the minimum income (933 BGN/month for 2026) are approximately 180–230 EUR/month.

Accountant

Every EOOD/OOD is required to maintain accounting records. Hire an accountant from day one — even if you don't have revenue yet, they will help you with:

• NRA registration
• Social security declarations
• Monthly accounting
• Annual tax return

The First Month

VAT Registration

Assess together with your accountant whether you need VAT registration:

• Mandatory — if turnover exceeds 51 130 EUR for the current calendar year
• Mandatory — for intra-community acquisitions exceeding 10 226 EUR
• Voluntary — can be advantageous for B2B businesses (VAT credit deduction)
• Under Art. 97a — when receiving services from EU suppliers

GDPR Compliance

If you process personal data of clients (even names and emails), you need:

• A privacy policy on the website
• An internal register of processing activities
• DPA agreements with processors (hosting, email, CRM)

Cash Register

Mandatory for cash payments from individuals. If you work exclusively via bank transfer with legal entities — it is not needed.

Ongoing Obligations

• Monthly social security contributions — by the 25th of the following month
• VAT returns — monthly, by the 14th (if VAT-registered)
• Annual tax return — by June 30 of the following year
• Annual Financial Statements — published via G2 in the Trade Register by June 30
• Corporate tax — 10% on profit

Full Checklist