About Bulgaria
Bulgaria is an European state located on the Balkan Peninsula. Each region of this country is different in its landscapes and varied climates, thus the area is popular among travelers.
Bulgaria is economically strong in industrial and agricultural production, tourism and services. This is a Slavic country, so many Bulgarians speak Russian and are happy with their Slavic brothers.
Despite the fact that Bulgaria is not available for business immigration, the country's legislation does not restrict non-residents to conduct local business, but even provides government support and various benefits for foreign investors.
ADVANTAGES OF OPENING A COMPANY IN BULGARIA:
- Bulgaria is a member state of the European Union and the Single Market;
- there is a possibility of obtaining a residence permit for 3 representatives of foreign companies;
- there are low tax rates;
- there is a developed banking system;
- simple and loyal conditions for company registration;
- opportunities to enter the European market.
LEGISLATION
Registration of companies and opening your own business in Bulgaria is regulated by:
- Trade Law of 1991;
- Corporate Tax Law;
- Accounting Law.
Types of companies
According to the Trade Law, there are various forms of doing business, but the most suitable for non-residents are:
- Limited Liability Company with one founder;
- Limited liability company with two or more founders.
COMPANY REGISTRATION IN Bulgaria: requirements
LIMITED LIABILITY COMPANY :
- Share capital must be paid before registration of the company 2 BGN (~ 1 euro).
- Shares are bearer are prohibited.
- There has to be one or more director who must be natural person (depending on the form), without residency requirements. A legal entity cannot be a director.
- In respect of shareholder, there must be at least one natural or legal person, without residency requirements. At the same time, it is allowed that a shareholder is also a director.
- Information about directors and shareholders can be seen via the Bulgarian Trade Register (Bulgaria company registry).
- It is necessary to keep and submit a financial report annually. An audit is also required in cases where the company owns property from 1.5 million BGN (~ 750,000 euros); or has received income of 2.5 million BGN (~ 1.2 million euros) from trading in the financial year; or employs 50 or more employees in a financial year.
TAXATION
Corporate tax - 10%.
Dividend tax - 5%.
VAT - 20%, but there is a preferential zero rate for export and other types of operations in accordance with international agreements.
One the company is incorporated, it must register with the tax authorities as a VAT payer and submit monthly reports.
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TREATIES FOR THE AVOIDANCE OF DOUBLE TAXATION
The country has concluded more than 70 international agreements on the avoidance of double taxation, including with Ukraine.
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If you want company's registration in Bulgaria or to buy a Bulgarian "offshore", please contact our lawyers: +38 (098) 737-88-88
We will help you to open and incorporate a company in Bulgaria or in any other jurisdiction.
The cost of company registration in Bulgaria is formed for each specific specific business, check the final price of the finished firm with our lawyers depending on your individual needs.
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