Businesspersons intending to launch commercials in Europe consider company registration in Bulgaria as a profitable variant regarding state location, a favorable legislative basis for organization foundation and low tax rates. Deciding register company in Bulgaria, executives may count on next-mentioned profitables and benefits:
Firm registration may be made in one of next-mentioned organizational forms:
Frequently-chosen organizational structure is single ownership LLC. Deciding open a company in Bulgaria, consider its key characteristics, particularly, next-mentioned:
Founders need to appoint a manager who implements and manages enterprise. Obviously, manager needs to make application for approbation in local register. There may be several managers. They can manage friendships together, separately, separately, and together. Relations between friendship and councils A decision in management agreement that arises between director and founders.
Prices of firm formation in Bulgaria vary based on how many beneficiaries are involved in launching, activities area, deal type and certain aspects.
Best quickly registering company in Bulgaria – buying a ready-made firm. Pricing is influenced by some points: possible debts of enterprise, general history of operations, and so on. It should also be taken into consideration that enterprises will incur several operating costs: its total amount varies between 600-1000 euros per year. However, in each case there is an individual calculation and modeling of costs.
Thus, how to set up a company in Bulgaria? Enterprise foundation is performed in four stages.
After receiving the documents, you are given an incoming number, under which the application is registered. This number is used to track the status of document processing on the Trade Register website. If errors are found during processing, the site will display it and will be given 48 hours to correct the errors.
The name of the enterprise can be checked for compliance with the specified norms and correctness, as well as, according to the criterion, whether it is unique and not previously used. Here, this, as well as reserving a particular name, can be done through an online service. As for other denomination points, it must also end with LLC or OOD. All names are compiled and recorded in Bulgarian. Some documents also require a notarized translation.
This state attracts beginners and experienced capital holders with reasonable tax ratios. Firms pay income taxes of 10% and value added of 20%. Residents pay taxes on incomes that were received by the enterprise, however, if such incomes are received in Bulgaria.
Reduced ratio for paying value added is 9%. Such a rate is possible for property owners who rent out their property. In the event that enterprises operate in the industry of cross-border transportation and export, they do not have to pay VAT. In addition, if the annual turnover of the company does not exceed 50 thousand levs, it isn’t covered by these taxes.
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