Form Your Wyoming LLC as a Bulgarian Resident

Bulgaria has quietly become one of Europe's most attractive bases for tech entrepreneurship and outsourcing. With a flat 10% corporate tax — the lowest in the European Union — combined with a highly skilled IT workforce, competitive labour costs, and excellent English fluency among young professionals, Bulgaria offers great conditions for building international businesses. Yet Bulgarian founders selling SaaS, agency work, or e-commerce internationally still face friction: BGN-denominated invoicing, Stripe limits on the local market, and limited recognition of an OOD/EOOD when contracting with US enterprises. Read why a US LLC complements a Bulgarian OOD/EOOD.

Forming an OOD/EOOD in Bulgaria still requires share capital, Targovski Registar enrolment, NRA tax registration, and ongoing GFO accounting. A Wyoming LLC takes 24 hours, has no minimum capital, no notary, and no public shareholder register. You receive Articles of Organization, an EIN, an Operating Agreement, and a US registered agent address — all delivered electronically.

Wyoming was the first US state to recognise LLCs (1977). It levies no state corporate income tax, no franchise tax on LLCs, and no personal income tax. Annual report fee is $60. Member privacy is the strongest in the United States — your name does not appear on the public state filing. Compare with the Bulgarian Targovski Registar, which publishes shareholders, capital, and beneficial owners openly.

For Bulgarian residents, the US–Bulgaria tax treaty prevents double taxation. A single-member LLC owned by a Bulgarian resident with no US-effectively-connected income typically owes 0% US federal tax. The Bulgarian owner reports the profits under Bulgaria's flat 10% personal regime (or 15% on dividends if the LLC is treated as opaque). See guides for our Serbian, Croatian, and Macedonian neighbours.

The Bulgarian National Revenue Agency (NRA) generally treats a foreign single-member LLC as either transparent or opaque based on its constitutive documents. Most US Wyoming/Delaware LLCs with corporate-style governance, perpetual existence, and limited liability are classified as opaque (corporate-type) entities. This means profits are taxed in Bulgaria only when distributed to the owner as dividends, subject to the 5% dividend withholding for Bulgarian residents (lower than the 10% flat income tax that would otherwise apply).

If your activity creates a Bulgarian permanent establishment (e.g. you operate the LLC actively from Sofia or Plovdiv with substantial decision-making), the NRA may attribute profits to Bulgaria and apply the 10% corporate rate. In practice, for digital businesses without physical presence, this is rarely triggered — but a written opinion from a Bulgarian счетоводител (accountant) is recommended before structuring.

Annual filings: any Bulgarian resident holding a US LLC interest must declare it in their annual ГДД (Godishna Danachna Deklaratsia). The US bank account is not reportable to BG authorities under CRS automatically because the US does not participate in CRS — but is reportable under FBAR / FATCA only to US authorities (no US tax obligation if no ECI). For BG transparency, declare it voluntarily on the foreign assets section if asked.