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Prefer watching instead of reading? Watch the video version: Bulgarian Company Registered? Your First 30 Days Checklist
Registering your Bulgarian company is an important milestone, but it is only the beginning. The first month sets the foundation for your accounting, VAT, social security, payments and document management.
Many new business owners focus immediately on finding customers and making sales. That makes sense, but your first invoice, foreign supplier or employee can already create tax and reporting obligations. A few decisions made early can save you from corrections later.
The best approach is to organise the practical side of the business before regular trading begins.
Explain How Your Business Will Operate
Your accountant needs to understand how the company will actually work. The activity written in the company documents rarely gives enough information.
Explain what you will sell, who your customers are, where your suppliers are located and how money will enter the business.
Give Your Accountant the Full Picture
Before you start regular trading, clarify:
- what products or services you will provide;
- whether your customers are companies or private individuals;
- where your customers are located;
- where your suppliers are located;
- whether you will trade with other EU countries;
- whether goods will move across borders;
- which payment methods you will use;
- whether you will work through marketplaces or online platforms;
- whether you plan to hire employees.
These details help your accountant identify VAT, invoicing and reporting requirements before problems appear.
For example, a Bulgarian company serving only local clients may have different obligations from a company that provides services to businesses in Germany, France or another EU country.
Check Your VAT Position Early
VAT deserves attention from the start. Do not assume that your company only needs to think about VAT after reaching the general turnover threshold.
Bulgarian VAT legislation includes other registration grounds that may apply earlier, especially when your company enters cross-border transactions.
Watch Cross-Border Services Carefully
Ask your accountant to review the situation if your company:
- provides certain services to businesses in other EU countries;
- receives services from suppliers outside Bulgaria;
- pays for foreign advertising services;
- uses foreign software or cloud services;
- pays fees to international platforms;
- carries out other EU or international transactions.
Depending on the transaction, VAT registration, reverse charge treatment or additional reporting may apply.
The timing matters. Review the VAT position before the transaction takes place. Correcting an invoice after several weeks can create unnecessary work for both you and your accountant.
Decide How the Owner and Manager Will Work
Company registration does not automatically determine the social security position of the owner or manager.
You need to look at who actually performs work for the company and under what arrangement.
Review the Real Working Relationship
An owner who actively works in the business may fall under the rules for self-insured persons. A manager who receives remuneration under a management arrangement may have a different social security position.
There is no single setup that works for every company. The correct approach depends on the actual circumstances.
Discuss this when the company starts operating. A clear decision at the beginning helps you calculate and report social security contributions correctly.
Keep Business Payments Separate
Use a dedicated company bank account for business activity. Keeping company and personal transactions separate makes your accounting easier to manage and gives you a clearer picture of the company’s finances.
Your accountant should also know how customers will pay you.
Review Every Payment Method
Your company may receive money through:
- bank transfers;
- debit or credit cards;
- payment platforms;
- marketplaces;
- cash;
- cash on delivery;
- courier collections.
Payment methods matter because they can affect how you document sales and whether additional fiscal reporting rules apply.
This becomes especially important for online businesses. Two online shops may have different obligations if they use different payment methods or sales processes.
Create a Simple Document Routine
Good accounting depends on complete and organised documents. You do not need a complicated system, but you do need a consistent one.
Agree with your accountant on how you will collect and send documents every month.
Keep the Important Records Together
Your accounting records may include:
- sales invoices;
- supplier invoices;
- contracts;
- receipts;
- bank statements;
- payment platform reports;
- marketplace reports;
- courier reports;
- expense documents.
Do not wait several months before sending everything to your accountant. Missing documents can make bank reconciliation, VAT reporting and expense checks much harder.
A simple monthly routine can prevent many of these problems.
Prepare Before You Hire Employees
If you plan to hire someone, speak with your accountant before the employee starts work.
Prepare the employment documents, payroll information and required registrations in advance.
Do Not Leave Payroll Until the First Working Day
A new employee can create immediate payroll and reporting obligations. You may also need to consider occupational health and safety requirements or sector-specific rules.
Planning everything before the start date gives both the employer and employee a cleaner start.
Your First 30 Days Checklist
Before the first month ends, review the key areas of your new company:
- Speak with your accountant before regular trading starts.
- Explain your business model clearly.
- Identify your customers and suppliers.
- Review planned international transactions.
- Check your VAT position.
- Confirm how the owner and manager will handle social security.
- Use a dedicated company bank account.
- Keep business and personal payments separate.
- Organise invoices and accounting documents.
- Tell your accountant about payment platforms and marketplaces.
- Prepare payroll before hiring employees.
- Check whether fiscal reporting requirements apply.
- Review whether your activity needs a licence, permit or additional registration.
Not every point will apply to every Bulgarian company. That is why your accountant should review your actual activity rather than rely on a generic company setup.
Start With the Right Setup
A registered company may legally exist, but that does not mean it is fully ready for daily business.
Your first customer, foreign supplier, employee or online payment can change your accounting and tax obligations. The sooner you identify these issues, the easier they become to manage.
At ASB Accounting Services Bulgaria, we help newly registered companies organise their accounting, VAT, payroll and reporting from the start. We focus on how the business actually operates and help create a practical accounting process from day one.
This article provides general information and does not constitute tax, accounting or legal advice. Each company has different circumstances, so you should review your specific situation individually.