Company

With the company package, you'll get your own company registered. Compared to the other plans, this requires quite some effort and often is a pain with the banks during the incorporation process. But then, after a couple of weeks, you've all the independence and flexibility of a company - plus all the responsibility of a company owner.

In our view this is worth all the effort or even necessary in a couple of scenarios:

• Only with your own company you can limit your liability. If your business comes with risk, you should secure your personal assets from the grasp of others by creating a business entity of its own, a LLC.
• Also, only with your own company you can employee people. If that's necessary for your business, you need an EOOD.
• We also recommend opting for the Company plan if you're working with sub-contractors. One reason is the risk of them suing you if they think you did not fulfill your contractual duties. A second reason is that your costs might easily increase beyond 25% of your revenue with sub-contractors involved. Only with your own company would you be able to use them in full to reduce your taxable income.
• Finally an inventory or a larger amount of other assets, e.g. intellectual property, requires the Company plan. co/company would not want you to entrust it with keeping all the capital your business is accumulating. You want to keep full control of that.

Usually an EOOD is set up by solopreneurs with long term residency in Bulgaria. But in principle you could also incorporate a company as a non-EU citizen without Bulgarian long term residency. If that would really benefit your bottom line, though, we'd need to find out in a careful analysis or your situation.