Bulgaria vs Romania
Bulgaria is £36 cheaper in year 1 and £15 a year cheaper after that.
| BulgariaEOOD / OOD | RomaniaSRL | |
|---|---|---|
| Costs | ||
| Minimum, year 1 | £114 | £150 |
| Minimum, per year after | £85 | £100 |
| Typical year 1 | £1,744 | £1,350 |
| Government fee | £24€28.12 online, €56.24 on paper | £50About RON 300 trade registry |
| Indirect setup | £5–1,020 | £0–700 |
| Running per year | £85–2,330 | £100–1,800 |
| Share capital | €1 | RON 500RON 5,000 above RON 400k turnover |
| Rules | ||
| Directors | No local director | No local director |
| Remote setup | Through a providerRemote by power of attorney. Your signatures are notarised and apostilled at home. | Through a providerRemote by power of attorney. |
| Audit | No audit below size thresholds | No audit below size thresholds |
| Time to form | 1 to 3 weeks | 1 to 2 weeks |
| Ease for foreign owners | 3/5 | 3/5 |
| Tax and banking | ||
| Corporation tax | 10%10% flat, one of the lowest in the EU. | 16%16%, or 1% of turnover for micro-companies under €100k with one employee. |
| Dividend withholding | 5%5% dividend withholding, none to EU companies. | 16% |
| VAT / GST | 20% | 21% |
| Banking | 3/5Local banks usually want one visit. | 2/5Local banks usually want a visit. |
| All company setup fees in Bulgaria | All company setup fees in Romania | |
Questions
Is Bulgaria cheaper than Romania for company setup?
Yes. Bulgaria costs at least £114 in year 1, against £150 for Romania.
Which is cheaper to run each year?
Bulgaria, at least £85 a year against £100 for Romania.
Which needs a local director?
Neither. You can run a company in either without a local director.
Which is faster to set up?
Romania, in 1 to 2 weeks. Bulgaria takes 1 to 3 weeks.
How does corporation tax compare?
Bulgaria: 10% flat, one of the lowest in the EU. Romania: 16%, or 1% of turnover for micro-companies under €100k with one employee.
Sources: Registry Agency · Deloitte · PwC · Innovires · Accace