Eternity Law International News Registration of a company in Bulgaria

Registration of a company in Bulgaria

Published:
October 6, 2020

Bulgaria belongs to the rapidly developing Eastern European states – not only in the cultural, but in the political and economic sense of these words. It is especially interesting in terms of building and expanding personal entrepreneurial activities. To date, special services for registering an organization in the Bulgarian state are considered to be among the most popular. There is also a logical explanation: these are favorable conditions for conducting active entrepreneurial activity in the territory of the said jurisdiction. By the way, in this beautiful country there are very small taxation fittings to build their entrepreneurial activities. In other words, it is this characteristic feature that allows you to conduct business in Bulgaria with minimal taxes.

Our company will help you to register a company in Bulgaria on the most favorable terms of interaction. For more than one year our specialists have been effectively cooperating and providing legal support for the registration of companies in Bulgaria.

Advantages of company registration in Bulgaria

The first and important fact is that Bulgaria is part of the European Union. In this country, one of the lowest corporate taxes. Five percent is a source tax on outgoing dividends. Instead of regional characteristics of accounting, you can use IFRS. Registration of a company in Bulgaria takes minimal time and is as much as possible operate.

How to incorporate a company in Bulgaria?

To begin with, you need to choose a name for your future company – later it will have to pass an identity check, so a good tip is to immediately select several options for this. Then you should choose the legal and organizational form of business management, choose the founder or founders. The next step is to provide copies of director or founder passports – domestic or foreign. If the co-founder is a legal entity, then you may be asked to co-create the documentation of the company or organizations for which you can be active on behalf of this company. After that, you need to open a temporary financial account in the bank – in order to make payments to the statutory fund of the company. The latter can range from two or more Bulgarian leva. Then you need to issue a power of attorney in the name of a lawyer to do all the necessary actions to register the company – the activity of the lawyer will be limited only to the registration process. One more step is to sign the necessary papers. Then, all our remaining work to register a company in Bulgaria will be carried out by our professional lawyers.

Taxation in Bulgaria

The key corporate tax rate is about ten percent. It is compulsory for companies that are registered in Bulgaria. Dividend taxation is five percent. The profit from the dividends paid is not included in the tax base of the legal entity.

At a financial rate equal to ten percent, profit from obtaining interest on securities, profit received from finleasing, fee for transaction maintenance, interest for leasing operations, income from franchising and factoring, income from the sale of financial assets, royalties from licenses for realization of intellectual rights. VAT rates in Bulgaria are of two types: 1) 20% – all tax transactions 2) 0% – for export operations and those where VAT, under an international agreement, is not paid.

All companies that are registered in Bulgaria, undertake to regularly submit the necessary financial reporting to the relevant government agencies and institutions.

Eternity Law International will help you in registration a company in Bulgaria, will advise you on taxation in Bulgaria.

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