We have summarized some of the questions that you would probably ask yourself in connection with our services. Should we have omitted your question, you can address it to us by getting in touch with us.
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.
You do not have to live or reside in Bulgaria. However, your presence in the country at the time of registration of the company is advisable as the procedure is easier. This is due to the fact that as a manager of the company, you need to declare your consent to perform this activity before Bulgarian notaries. You can use the services of the nearest Bulgarian diplomatic mission (embassy or consulate).
Knowledge of Bulgarian is not a mandatory condition for the registration of a company. If you do not speak Bulgarian, you will be accompanied in your visit to the notary office by an interpreter. As a security measure, when you do not speak Bulgarian, we execute the documents in a bilingual version, i.e. the Bulgarian text is accompanied by a text in English.
If you hold a residence permit for Bulgaria, it is completely sufficient. If not, all that is required is a European Union citizen identity card and international passport or another ID document for citizens of other countries.
The seat and registered office are one of the main individualising markers of any company. The seat is the city where the management of a company is located. In other words, the concept of a seat is exhausted by simply specifying the city in which the company will be operating. The address, on the other hand, is a specific location within the city, where the management is situated. These the residential area, street, block of flats, flat, etc.
Company registration is performed within very reasonable time terms – between 1 and 2 business days as of submission of the application to the Commercial Register, subject to the workload at the moment and the number of applications submitted. The term for the transfer of the title to a company and making changes in an already registered company is about 5-6 business days.
Your financial 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;
VAT returns have to 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 same period.
The annual financial statements and annual tax return for the preceding financial year are to be prepared and filed with the NRA (National Revenue Agency) until March 31st at the latest. Corporate taxes due also have to be paid within the same period.
Afterwards, your annual financial statements are to be published by June 30th at the latest in the Commercial Register under the company’s file so as to be visible for public inspection.
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