Bulgaria company incorporation - Formation Bulgarian Company
Full support for your business and legal representation by our Bulgarian commercial lawyers
Any foreigner can register a company in Bulgaria
on equal terms with Bulgarian citizens. Moreover, there are no differences in the regime and taxation is the same as that of a company owned by Bulgarian citizens.
Since Bulgaria joined the EU in 2007 the country
introduced a flat 10% corporate tax rate which is currently the lowest tax within the Union. The remainder of the profit remains at hand of the owner of the capital and can be used at their own discretion as they see best.
Further advantage resulting
Bulgaria’s joining the EU is the fact that all import – export from and to the EU is duty free. That means that only excise duty and Value Added Tax (VAT) could be applied.
Bulgaria Company Incorporation
Bulgaria Company Incorporation, this is a commercial company with share capital owned
by shareholders whose liability is limited to the sum of subscribed capital. A private corporation can be founded
by one or more persons, including foreign natural or legal persons. The minimum capital for society is divided into
5,000 parts LEV to the nominal value of 10 LEV each. The statutory bodies of private companies are limited by the general meeting of shareholders to be held at least once a year, and the managing director or the board. A single-member limited liability partnership is called EOOD.
Property is acquired by a natural Person or a legal person. The sole shareholder exercises the powers of the general assembly and the managing director or the board is appointed to monitor the companies to form a Limited Company in Bulgaria
How does the incorporation work? Bulgaria Company Incorporation
The following steps are needed:
- Decide on the name of your company, thereafter proceed to check whether the name is available to proceed with the reservation of name for his company
- Draft Articles of Association
- Form the capital with a minimum of 5000 Lev (local currency) around 2500 €.
- Obtaining the bank under pressure less than 70 5 of the registered capital has been paid.
- Management Agree-structure
- Get your registration in the commercial register of the relevant District Court.
- Wait for a publication issued by the court in the State Gazette.
One of the most important advantages of Bulgarian membership in European Union is that duties are not paid within the Union. So a company may produce certain goods in Bulgaria and then export them completely duty free – to another European country. Many foreign traders who have registered companies in Bulgaria use production equipment imported from other countries, which is completely legal. Many companies import also raw materials from abroad and only assemble the final product in Bulgaria, which they export to EU duty free.
FREELANCERS PAY LOWEST TAXES
Some have heard that Bulgaria is the right place in EU for this purpose. And they have heard right. The good news is that Bulgaria offers the absolutely lowest personal income tax in the whole EU – 10 %. Plus there are further deductions which means that effectively freelancers pay less than 10 % of their gross income.
BRITISH PROPERTY OWNERS
Regarding those who have chosen Bulgaria for their second home, stay mainly here and do not wish to come back to the UK for visas, a good solution would be to apply for permanent stay permit which will grant them almost equal rights to Bulgarians. Bulgarian Prime Minister Boyko Borissov even commented after Brexit that Britons based in the country are welcome if they decide to apply for citizenship.
Bulgaria Company Basic
- Basic Incorporation
Bulgaria company incorporation
The Registry of society then completed with the following: Bulgaria Company Incorporation
- Registration in the National Statistical Institute and receive their number BULSTAT. This must be done within three days after the registration of the company. ·
- Register at the territorial division of the National Social Security Institute. ·
- Register at the territorial tax office within 14 days after registration
Normally the whole process involves a 20 - to 30 days.
What do I have to do to administer a limited company in Bulgaria? Accounts, annual statements, annuities, registered office.
- Maintenance of office of the society. That means an annuity to people who maintain the registered office
•Presentation of annual accounts for company
•Annual Statement of corporate tax
•Annuity nominee directors, nominee shareholder
Dates for submission of books, financial statements and tax returns
You have to choose a financial year to their society. Statements depend on the fiscal year chosen. Please contact us. We will help you decide the starting date and deadlines relating to their society.
We specialize in creating, maintaining, managing, constructing or incorporate your company or business enterprise in Bulgaria.
With each company formation, we offer:
- Check availability and get clearance to use the name required
- Preparing all the forms needed for the Registry and for the Notary
- Standard government taxes
- The incorporation certificate
- The Deed of Incorporation for the company; which could be Memorandums and Articles
- Share Certificates
- A file with all the documents which come with the incorporation
- Delivery of documents by Courier