Many Russians who have decided to buy a Bulgarian property for permanent residence, are thinking about starting business in Bulgaria to live in a foreign country comfortably and without financial problems.
We will tell You:
1. What is the most profitable business in Bulgaria.
2. Which is better — to buy a business or open from scratch.
3. How to open a business? Step by step instructions.
4. List of documents for registration of LTD. and LTD.
6. The annual accounts of the legal entities.
What kind of business it is better to open or to buy in Bulgaria?
Planning to open or buy a business in Bulgaria, it is important to know what business the most profitable. According to experts, in the top 5 most profitable areas of business in Bulgaria includes:
- The tourist business;
- Services in repair and furnish of apartments/houses;
- Beauty salons;
- IT-services;
- Restaurant business.
Which is better — to buy a business or open from scratch?
Both options have advantages and disadvantages. Let's consider them.
| READY BUSINESS | |
| Advantages | Disadvantages |
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| BUSINESS FROM SCRATCH | |
| Advantages | Disadvantages |
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The procedure of opening business in Bulgaria
Step # 1 – Choosing a company name.
The name chosen need about��to check for uniqueness, checking the registry of the Commercial register. If the name is unique, it is necessary to reserve — 13 € or 25€, depending on the method of redundancy.
Step No. 2 — choosing the form of organization.
Determine the form of organization, it is important to correctly choose the form of taxation.
Step 3 —preparation of the documents.
Collection of documents, signing of the contract between the parties, the determination of the amount of the share capital and payment of a state fee. Filing of documents at check in "service for entering".
Step 4 — Assignment of legal address.
As office you can use the address of the property owned by the applicant.
Step 5 — Deposit into Bank account, share capital.
You need to open a separate account for the share capital. To withdraw money from this account before the completion of registration of the firm.
b>Step # 6 — Registration of the company in the commercial register of the National Agency for trade.
Step 7 — Filing of documents to the tax office.
For 12 days, issued a certificate of VAT payer (procedure free).
On the official site of the investment portal of Bulgaria investbg.government.bg you can read the latest information about procedure for opening a business!
Documents for registration of EOOD/OOD
If the owner of the registered entrepreneur is one person, you need to prepare:
- The statement in A4 format;
- The decision on creation LTD;
- The constitutive act;
- Consent of the supervisor to fulfill the role of Manager and specimen of his signature;
- Receipt of payment of registration fee and the Deposit into the account of the authorised capital;
- The Declaration of authenticity of documents, etc.
If the owners of LLC are two or more people, you need to prepare:
- Statement (A4);
- The constitutive act (Charter);
- The constituent Protocol;
- The agreement of the Manager and specimen of his signature;
- Declaration from the Managing Director on p. 141 from "Trgovski the Law";
- Receipt of payment of state duty;
- The Declaration of the control of authenticity of documents;
- Bank statement confirming crediting to the Bank account of the authorized capital, etc.
Taxes in Bulgaria to 2018
- Corporate tax — 10%.
- VAT at 20%.
- Income tax — 10%.
- Tax on dividends — 5%.
The annual financial statements
Legal entities are required annually to submit 3 reports:
1) Annual financial report. Available until 30 June in the commercial Register. The penalty for late filing of HFO — from 200 to 3000 BGN (in case of repeated violation — up to 6000 levs).
2) Tax Declaration (Godina��and danyon Declaration HDD). Served until March 31 to the Tax office. The penalty for late submission of a report — from 500 to 1000 BGN (in case of repeated violation — up to BGN 2000).
3) Annual report on activities. Available until April 30 in the national Statistical Institute. Penalty for filing the report late — from 200 to 2000 leva (at the next violation — from 2000 to 6000 lion.
In 2018, there have been some changes for firms "my best", not carrying out any activities.
For example, firms "nulevka" now do not need to submit a tax return if you provide a Declaration of absence of economic activity.
To see the new changes in the "drzhavna Gazette" № 92 of 17.11.2017 G.
