All foreign nationals have the right to register a company of their own in Bulgaria. There is no restriction based on whether a foreign national is a citizen of a EU member state or not.
FAQ
We have short some of the questions that you would possible ask yourself in connection with our services. Should we have forget your question, you can address it to us by getting in touch with us.
Which foreigners can register companies in Bulgaria?
Should the owner reside or live in Bulgaria?
There is no any Bondage to live or be inherent in Bulgaria.However, your presence within the country at the time of registration of the corporate is advisable because the procedure is less complicated.
This is thanks to every fact that as a manager of the corporate, you would like to declare your consent to perform this activity before Bulgarian notaries.You can use the services of the closest Bulgarian commission (embassy or consulate).
Should the owner speak Bulgarian language?
Knowledge of Bulgarian isn’t a compulsory condition for the registration of a corporation.If you are doing not speak Bulgarian, you’ll be accompanied in your visit to the notary office by an interpreter.As a security measure, after you don’t speak Bulgarian, we execute the documents in an exceedingly bilingual version, i.e.the Bulgarian text is is the midst of a text in English
What identity documents are required?
If you hold a residence permit for Bulgaria, it’s completely sufficient.If not, all that’s required may be a world organisation citizen card and international passport or another ID document for citizens of other countries.
What actually are the seat and registered office?
The seat and registered office are one amongst the most individualising markers of any company.The seat is that the city where the management of a corporation is found.In other words, the concept of a seat is exhausted by simply specifying town within which the corporate are operating.The address, on the opposite hand, may be a specific location within town, where the management is situated.These the dominion, street, block of flats, flat, etc.
What is the aim of the seat and registered office?
One of the most functions of the seat and registered office is expounded to the communication which a corporation has.Although the foremost a part of communication is completed electronically, by e-mails and other programmes, sending various letters on paper continues to be relevant.The address has important practical significance because it’s wont to determine the competent Territorial Directorate of the National Revenue Agency, within the account of which social insurance contributions of workers and employees and taxes due are deposited, the annual return, and declarations under the VAT Act, if the business entity is registered under the VAT Act, will it’s advisable that this address is valid and accessible because any correspondence sent shall be considered automatically received when it’s been sent to current address.Such correspondence is also associated with various claims, time terms, etc., which if overlooked may result in serious problems for your company.All state and bank institutions use the company seat and address to send their correspondence.In addition, the address must include a representative who is authorised to sign and receive any documents on behalf of the corporate and to be responsible before the tax authorities.The use of an invalid address or an address at which the corporate has not provided its authorised representative may result in serious financial and administrative penalties for the corporate and for its director, additionally on forcible termination of the VAT registration, along with all the negative fiscal consequences resulting therefrom.
What type of business can carry a company?
A company is engaged in a limitless number of activities – you’ll as an example register a corporation for the sale of garments, and at the identical time provide.It is important to form a clarification here – there are activities regulated by the law which can only be allotted out by a selected form of traders and also the company in question might not deal in the other activity except the one specifically provided for within the law.An example of traders who can only do a selected form of business are the pawn shops, loan institutions, insurance companies, etc.
You know what are the deadlines for registration of a company?
Company registration is performed within very reasonable time terms – between 1 and a pair of business days as of submission of the appliance to the Commercial Register, subject to the workload at the instant and also the number of applications submitted.The term for the transfer of the title to a corporation and making changes in an already registered company is about 5-6 business days.
You know when does the reporting of the accounting period of my company start?
Your fiscal year commences on January 1st and ends on December 31st.Companies that have commenced their business after January 1st report their operations as of their establishment until December 31st.
When is VAT related information submitted?
VAT returns should be submitted on a monthly basis up to the 14th day of the month for the incomes and expenses during the preceding month.The VAT payable, if applicable, is to be paid within the identical period.
You know what is the term for annual return submission?
The annual financial statements and annual return for the preceding fiscal year are to be prepared and filed with the NRA (National Revenue Agency) until March 31st at the newest.Corporate taxes due even have to be paid within the identical period.
You know what is the term for annual plan submission?
After that, your annual financial statements are to be published by June 30th at the newest within the Commercial Register under the company’s file so on be visible for public inspection.