Setting up your company in Bulgaria

Published by admin on August 7th, 2011 - in Uncategorized

company fomration bulgaria

For many small business owners around the globe who wish to start up a company in Bulgaria, it may appear complicated; however we are going cover company formation here.

The golden rule in Bulgaria (and certain other counties in particular Thailand) is that the person or persons who wish to buy land must be Bulgarian. This is a law pretty much set in stone. Whilst one can fly over to Bulgaria, when it comes to buying property for your business you need a Bulgarian in your team. Whilst this rule is I force just now, in 2014 Bulgaria comes under the relevant EU directives which will change the landscape on company ownership accordingly.

Presently, if you are forming a company in Bulgaria it is a whole different ball game. Anyone can form a company in Bulgaria itself and any company dealings are subject to Bulgarian law and relevant tax laws for that country. Your first step to owning land or property off course is forming a limited company.

The way to bypass (to a degree) the issue of company formation is to buy a house or apartment – which are very inexpensive and run your company from there. Granted it may be small, but if you are a new startup it may well be a great idea.

Appointing a solicitor / Lawyer to open your company saves a great deal of time. The procedure is straightforward and off course the lawyer you choose would be Bulgarian thus able to understand the relevant forms etc. The fee for forming a company is less than the UK. All legal fillings would be done by your lawyer and – like England, you would have an accountant to do your annual tax return.

All said, forming a company in Bulgaria can be a wise decision and very cost effective. A beautiful country, friendly locals and in your spare time lots to see and do.

Bulgaria Solicitors

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