How Much Does a Company Cost in Varna
Registration Costs
Registering a company in Varna is relatively affordable. Bulgaria offers low fees and a minimal required capital. Here is a full cost breakdown.
Business Environment in Varna
Varna (approximately 340,000 residents) is the maritime capital of Bulgaria, with a developed tourism, logistics and IT sector. The city has over 40,000 registered companies, making it an active business centre.
Key Industries:
- Maritime Transport & Logistics
- Tourism & Hospitality
- IT Services
- Trade
Office Rents: Average office rents in Varna are €5–14/sq.m., which is competitive compared to other cities in the region.
Bank Branches: UBB, DSK Bank and UniCredit Bulbank have branches on Knyaz Boris I Blvd., Slivnitsa Blvd. and in the Primorski district.
Notary Offices: Notary offices are concentrated around Nezavisimost Square, Maria Louisa Blvd. and the Odesos district.
One-Off Registration Costs
| Expense | Electronic | On Paper |
|---|---|---|
| Government fee – CR | €28 | €56 |
| Notarisation of specimen signature | €10–15 | |
| Escrow account | €5–10 | |
| Name reservation (D1) | per current tariff (optional) | |
| QES (if you don't have one) | €15–25 | |
| Lawyer / external preparation | depends on the service chosen | |
| TOTAL | depends on external fees and services chosen | |
Automated document preparation can reduce the time and cost of external preparation.
Monthly Maintenance Costs
After registration, a company in Varna has the following ongoing costs:
| Expense | Minimum | Average |
|---|---|---|
| Accounting services | €50/month | €100–200/month |
| Manager's social security (self-insured) | ~€150/month | ~€200/month |
| Bank maintenance | €3/month | €8–15/month |
| Office rent (if applicable) | €100/month | €200–500/month |
Annual Costs
Companies in Varna have the following annual obligations:
- Annual tax return — free when filed electronically
- Annual financial statements in the CR — government fee per current tariff; a declaration of inactivity typically carries no fee
- Corporate income tax — 10% of profit
- Dividend tax — 5% upon distribution
How to Save
Tips for reducing company costs in Varna:
- File electronically — save €28 on the government fee
- Use Firmify — save €100–250 on lawyer fees
- Choose the right accounting package — don't overpay for services you don't use
- Compare bank fees — the difference can be €50+ per year
- Keep your records up to date — avoid fines and penalties