I. COMPANY REGISTRATION

INCORPORATION OF BULGARIAN LTD COMPANY

Through our online service we offer our foreign clients the opportunity to register a Bulgarian company without being physically present in the country. Our incorporation package is exhaustive and includes the following services:  

• Preparation of the complete incorporation set of documents / Articles, Memorandum, Power of attorney, Declarations/
• Registration of the company at the Bulgarian trade register
• Opening an accumulative company bank account for deposition of the founding capital
• Preparation of the company’s stamp We provide the funds needed for the company’s founding capital
• We provide our office as a registered legal address of the newly founded company.

The full cost of our incorporation package is 220 EUR including all government charges and registration fees – no hidden fees!  

SOME MORE INFORMATION ABOUT THE TAX SYSTEM IN BULGARIA:

1. Corporate tax – 10 % of the net profit per year;

2. Dividend tax – (5%) - only in case of real actual payment of dividends;

3. VAT – 20%. The EU internal deliveries and the export are free of VAT;

4. 10% personal income tax.  The Dividends are free of tax after they are being shared between the shareholders and after the 5% dividend tax is paid.  

SOME INFORMATION ABOUT THE LEGAL STATUS OF THE BULGARIAN LTD COMPANY:

The type of the company that we recommend is LLC /OOD, EOOD/. Its specifics are:

1.The shareholders could be one or more.

2.The only shareholder could also be the sole director of the company.

3.There is not a requirement to have a local Bulgarian shareholder, or manager, or secretary etc.;

4.No annual fees for keeping the registration of the company.

5.The shareholders are not responsible for the debts of the company.

6. The shared capital starts from 1 euro.

II. ACCOUNTING AND VAT SERVICES

Our accounting package of services is specifically designed to satisfy the specific needs of the foreign business in Bulgaria. Realizing that the foreign owners of Bulgarian legal entities are not familiar with the Bulgarian law and tax system, we provide complete package of services that makes the owners of the business able to manage their companies remotely.

• Our accounting package of services consists of:
• Registered address and correspondence services
• bookkeeping
• social and medical insurance payroll services
• VAT reports and VAT services
• Financial accounting
• Payment of the social and medical insurance
• Payment of taxes
• Tax planning
• Annual financial report;

 III. BANK ACCOUNTS

SET-UP AND MANAGEMENT OF BANK ACCOUNTS IN BULGARIA

Our bank account management package of services gives you the opportunity to use the Bulgarian Banking System remotely without having to physically be in Bulgaria.

The benefits are:

• Higher interest rates on bank deposits
• Bank deposits of up to € 100,000 are 100 % guaranteed by the government
• The low level of personal income and corporate tax gives you chance to minimize the tax expenses of your business via re-directing your international income into your Bulgarian bank account.

Our standard bank account package of services includes:

• Opening of deposit or business account in USD, EUR, CHF, BGN, GBP
• Issuing of an international Visa or Master card linked to your bank accounts
• Internet banking with electronic key. The electronic key and the respective electronic device will be sent to the customer. There is no need for our client to visit Bulgaria personally

IV. VIRTUAL OFFICES

Following the concept of remote management of the Bulgarian LTD company, we provide for our clients the opportunity to create their own virtual or physical office in Bulgaria. The answer of the question as to whether to establish a real or virtual office depends on the volume of business correspondence of the respective company per month. In case of serious monthly turnover of documentation, the virtual office is not recommended. And opposite – in case of 10 – 15 clients, respectively contracts, per month the virtual office is the more preferable option.

Our company owns 2 business buildings where we provide virtual and real office services. On the base of individual requirement we carry through interviews for selection of administrative staff for the real office of our client’s company.

Note: The virtual office is administrating the business correspondence of the company. The official correspondence of the company with the state bodies, tax office, courts etc is part of the legal address of the company, and it is FREE OF CHARGE as a part of the accounting package of services.

 V. IMIGRATION IN BULGARIA 

Serious part of our company’s activity is the arrangement of residence permit and citizenship of foreign investors and their families in Bulgaria. In general the legal opportunities for obtaining of the right of residence in Bulgaria are systematized in 3 groups:

• Property Investments
• Registration of Non-trading Representative office of a foreign company in Bulgaria
• Establishing of business enterprise with more than 10 local employees for more than 6 months.

1. Our practice shows that the second of the variants above is the most preferable. The procedure is fast, with low costs and highly efficient. The total cost of the procedure of registration of representative office of foreign company in Bulgaria is 2500 euro. The procedure takes from 40 to 60 days.

2. The property investment is a relatively new opportunity for obtaining of Bulgarian Residence, being recently provided in the Bulgarian law in the beginning of 2013.

In general the main legal requirements are:

• Registration of a LTD company, where the candidate owns more than 51% of the shared capital
• The invested capital must be at least 600 000 BGN /~ 300 000 euro/
• The company must have investment in Bulgarian properties on amount of no less than 600 000 BGN.

3. In case the investor registers a business entity and hires more than 10 Bulgarian employees for more than 6 months, he would have the legal right to apply for Bulgarian residence permit.

This third variant is difficult and it is not recommended for business people that are just starting their activity in Bulgaria.

VI. INTERNATIONAL TAX PLANNING

The most important part of the management of every international business company is the tax planning. The adequate tax planning leads to maximizing the profit of the entity and provides growth of its capital.

We have a team of experienced auditors and tax lawyers are capable of creating the best international tax scheme for your business.

 VII. INTERNATIONAL LAW SERVICES

The realizing of business activity in a foreign country is always accompanied by different legal cases and procedures, which could be, for example, related to investments, labor contracts, intellectual property, town planning, administrative procedures, tax audits etc.

At present our company has a team of 6 lawyers. Five of them are with full barrister’s qualification. We have specialists in the following areas of the law:

• Litigation procedures
• Real estate and property acquisition
• Corporative law and mergers
• Tax law
• Business law and contracts
• Town planning and building permits
• Immigration
• Family law
• Collecting of debts