Sole Trader Registration in Varna
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 Varna the sole trader form is suitable for freelancers, craftspeople and small businesses with low risk. Varna is the maritime capital of Bulgaria, with a developed tourism, logistics and IT sector.
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.
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 Varna or Varna 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
Required Documents
To register a sole trader in Varna:
- Application A1 for registration of a sole trader in the CR
- Declaration under Art. 13(4) of the CRRLEA
- Declaration under Art. 57 and Art. 58 of the Commerce Act — no prohibition
- Specimen signature — with notarisation
- ID card of the trader
Fees and Costs
| Expense | Amount |
|---|---|
| Government fee (electronic) | €28 |
| Government fee (on paper) | €56 |
| Notarisation of specimen signature | €10–15 |
| QES (if you don't have one) | €15–25 |
Overall, registering a sole trader in Varna is cheaper than an EOOD since no escrow account is required.