Bulgaria cuts fees on registering new businesses

Bulgaria’s Cabinet decided on February 5 to cut the fees charged by the country’s Registry Agency on the registration of new businesses, the government media service said.

Additionally, the fees charged on other services provided by the agency will also be cut, with a view to reduce the administrative burden on the corporate sector. “The reduction will have a positive impact on starting and doing business in Bulgaria, the competitiveness of Bulgarian firms and lowering the barriers to new companies joining the market, both domestic and foreign,” the Cabinet said.

The decision is expected to reduce the agency’s revenues by about four million leva this year (about two million euro).

To register limited liability companies, entrepreneurs will now have to pay a fee of 110 leva (down from 160 leva), while the registration of joint-stock ventures will cost 360 leva instead of 460 leva. The fee on joint-stock ventures operating on the banking and insurance markets will be reduced from 1700 leva to 1300 leva.

(Photo: Darren Shaw/sxc.hu) 



The Sofia Globe staff

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