Very often our customers, the new ones to be honest, ask us the following among the first questions: it is necessary to have the Bulgarian passport for set up a company in Bulgaria? The answer to this question is simple: absolutely not. And in this post we will explain why.
Let's start by saying that in order to benefit from the Bulgarian advantageous taxation, which we remember is a single flat tax of 10% on both company profits and personal income, it is not necessary to have Bulgarian citizenship, the request for which would also take a long time. long to complete. It is sufficient to have residency. The latter can be obtained in a very short time and we at VR and Partners are the leading company in Sofia in this type of practice.
Having said this, in the same way, the Bulgarian passport should not be confused with the residence. First of all because to have a Bulgarian passport it is not sufficient to have residence in Bulgaria. In fact, there are three main types of Bulgarian passport that we are going to list:
Regular passport. It is issued to those who have Bulgarian citizenship, not to those who only have residency, and has a duration varying between 5 and 10 years
Service passport. It is issued to personnel of government agencies or directorates
Diplomatic passport. It is issued to very high-level state officials or diplomats.
Having said this, however, as anticipated, it is important to point out that it is not necessary to have a Bulgarian passport in order to set up a company in Bulgaria and, more importantly, to access the tax advantages listed above. The Bulgarian passport, which you may have heard about sometimes in the newspapers, is instead requested by people not resident in the European Union precisely to acquire European citizenship and therefore have freedom of movement and action within the EU area. Obviously for those coming from Italy there is no need for any of this because Italy, just like Bulgaria, belongs to the EU area. This means that there are no customs controls on either goods or people traveling between these two countries.
