Bulgaria is becoming an increasingly attractive target for large business companies and organizations. However, more and more Russians, British, Japanese, Chinese, Americans are settling permanently with their families in Bulgaria. Many of them decide to start a business in our country. For them, basically, we wrote this “manual”.
The selected name must be checked for uniqueness by looking at the register of the Commercial Register. If the name is unique, it needs to be reserved – 13 € or 25 € depending on the reservation method.
Having decided on the form of organization, it is important to correctly choose the form of taxation.
Collection of documents, signing of an agreement between participants, determination of the size of the authorized capital and payment of state fees. Submission of documents for verification in the “service of registration”.
As the legal address of the company, you can use the address of real estate owned by the applicant.
You must open a separate account for the share capital. It is impossible to withdraw money from this account until the registration of the company is completed.
Within 12 days, a certificate of VAT payer is issued (the procedure is free).
On the official website of the investment portal of Bulgaria investbg.government.bg, you can find the latest information on the procedure for starting a business!
If the owner of the registered IP is one person, it is necessary to prepare:
Legal entities are required to submit 3 reports annually:
1) Annual financial report. It is submitted until June 30 to the Trade Register. The penalty for late submission of HFOs is from 200 to 3,000 leva (for repeated violations – up to 6,000 leva).
2) Tax return (Annual Tax declaration). It is submitted until March 31 to the Tax Inspectorate. The penalty for late submission of the report is from 500 to 1000 leva (in case of repeated violation – up to 2000 leva).
3) Annual activity report. Served until April 30 at the National Statistical Institute. The penalty for submitting a report with a delay is from 200 to 2000 leva (with the next violation – from 2000 to 6000 leva.
For example, firm “null” now can not file a tax return if they provide a declaration of lack of economic activity.
Familiarizing themselves with the new changes can be in the “State Gazette» № 92 from 17.11.2017.
Being in Rome – doing like the Romans. It may not be the most accurate saying in this case, but the best way to succeed with your business in a foreign country is by hiring local experts to advise and assist you. Try VD&A – if you want modern and successful solutions. It is a Bulgarian consulting and legal company with international activities and offices in Dubai, Hong Kong and others.