Sole Trader Registration in Sofia
What Is a Sole Trader (ET)?
A sole trader (ET) is an individual who conducts commercial activity. Unlike an EOOD, a sole trader is not a separate legal entity — the trader is liable with all personal assets.
In Sofia the sole trader form is suitable for craftspeople and small businesses with low risk. Sofia is the capital and largest business hub in Bulgaria, home to over 60% of all registered companies in the country.
Business Environment in Sofia
Sofia (over 1.3 million residents) is the capital and largest business hub in Bulgaria, home to over 60% of all registered companies in the country. The city has over 180,000 registered companies, making it an active business centre.
Key Industries:
- IT & Outsourcing
- Finance & Insurance
- Wholesale Trade
- Consulting Services
Office Rents: Average office rents in Sofia are €8–20/sq.m., which is competitive compared to other cities in the region.
Bank Branches: UniCredit Bulbank, DSK Bank, Postbank and UBB have central branches on Vitosha Blvd., Tsarigradsko Shose Blvd. and near the National Palace of Culture.
Notary Offices: The highest concentration of notary offices is around the Palace of Justice on Vitosha Blvd., along Dondukov Blvd. and in Sofia Business Park.
ET vs. EOOD
| ET | EOOD | |
|---|---|---|
| Liability | Unlimited (personal assets) | Limited (to share capital) |
| Min. capital | None | €1 |
| Escrow account | Not required | Mandatory |
| Income tax | 15% (personal income) | 10% (corporate) |
| Social security | As self-insured | As self-insured (manager) |
| Accounting | Simplified (under conditions) | Full |
Registration Steps
- Choose a name — must contain your first and last name, plus an addition of your choice
- Set your address — management address in Sofia or Sofia Region
- Prepare documents — A1 application, declarations, specimen signature
- File with the Commercial Register — electronically with a QES or on paper
- Receive your UIC — usually within 3–5 business days
Frequently asked questions
Sole Trader Registration in other cities
Other topics for Sofia
Detailed guides
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