- Ultra-fast company transfer
- All clear - fixed cost - no surprises
- Easy - just pick the company and tell us when you coming
- Good relationship with most important bank.
- Unlimited bank accounts - no caps/no limits
- Foreign bank accounts
- physical office arrangement/ staff recruitment & accounting
- tax inspection handling / EORI & GIOS
- WDL Trading / Energy / Electricity / Natural gas trading licenses
The Republic of Bulgaria is a Balkan country in Southeastern Europe. The country is situated on the coast of the Black Sea and borders with Romania, Turkey, Greece, Serbia and Macedonia. Bulgaria is a strong democracy with stable economic situation.
Bulgaria is a post-communist country, where until 1989 economy was administratively commanded. Then the country went through a transformation and currently has free-market economy.
Bulgaria is a country with a well-developed network of roads and motorways. Air and sea transport routes are also present.
Bulgaria is a country that is still developing, which creates big opportunities for investors, who are encouraged to stay in the country through attractive fiscal system. What is more, the country is not on any black or grey list, thanks to which it is easy for Bulgarian companies to open bank accounts.
Bulgaria is a member of the European Union, NATO and UN. The government of the country is making attempts to become a member of the Schengen Area. The official language is Bulgarian, and the official currency is lev (BGN).
Company law in Bulgaria is regulated by the following acts:
- The Commercial Code,
- The Trade Register Act,
- Regulation no. 1 of 14.12.2007 on running, keeping and accessing the trade register from the journal of laws no. 18 of 27.02.2007, as amended,
- Stamp Duty Rates (collected by the registration agency).
In Bulgaria, there are several types of companies that may be established:
- A limited liability company (OOD),
- A one-person limited liability company (EOOD),
- A joint-stock company (AD – Akcjonerno drużerstwo),
- A branch / representative office.
The most often chosen options are limited liability company and one-person limited liability company, whose structures are very similar, the key difference being that to set up an OOD you need at least two persons, while an EOOD may be set up by one person. They may be legal or physical persons.
In both cases, information on shareholders and managers is public. The trade register also includes information on company name, its subject of activity, and address. Bulgarian law allows using nominee directors and nominee shareholders and we recommend this service to clients who value privacy.
The minimum share capital is approximately 1 EUR. The capital may be paid in cash or by contribution. Shareholders’ liability is limited to the value of owned shares.
Limited liability company bodies are Shareholders’ Meeting (it has to take place at least once a year) and a manager or managers (equivalent of a director).
Every company has to have an incorporation report signed by all shareholders and a statement of the manager/managers. Relations between the company and the management are regulated by a management services agreement that should be prepared in writing.
The company should have its registered address in the territory of Bulgaria and a name that differs from the names of the companies that are already registered (every company receives a name exclusivity certificate).
Company documents may be prepared in any EU language, but they need to be accompanied by a sworn translation into Bulgarian.
Bulgaria has one of the friendliest tax systems in Europe. Income tax is just 10%, it is a linear tax. The basic VAT rate is 20%, reduced 9% and in case of exports and specific supplies of goods 0%. The following are not subject to VAT: financial services, health insurance, education, lease of buildings for residential purposes and sale of old buildings.
Capital gains tax is 10%, dividend tax 5% and tax on foreign companies’ revenue is 10%. It should be noted that limitation period in Bulgaria is just two years.
Companies are obliged to maintain accounting books and prepare annual financial reports.
Bulgaria is a post-socialist country, where until 1989 agriculture and food production were administratively commanded. Later, the country went through a transformation and the existing plants were turned into independent enterprises. Agriculture is important for the economy. The main crops are grains, industrial plants, vegetables and fruit. Processing industry is also of importance, mainly steel, iron, lead, copper and zinc production, as well as production of machines and equipment, which is a remainder of communist government’s investments. Bulgaria is also the biggest exporter of rose oil in the world. An important source of income is also tourism, thanks to location by the Black Sea and Bulgaria’s pleasant, warm climate.
The main trade partners of Bulgaria are Germany, Italy, Russia, Turkey and Greece.
Bulgaria’s political system is based on the constitution of 12 July 1991. Bulgaria is a parliamentary republic, with the president as the head of state, assisted in their official duties by the vice president. The head of the government is the prime minister elected by the president. Executive power is executed by a unicameral National Assembly, and judiciary power is in the hands of independent courts. Bulgaria has a stable democratic system.
Bulgaria has a stable banking system and the assets accrued in the accounts are safe. There are both national and international banks functioning here. Examples of banks in Bulgaria: UniCredit Bulbank, DSK Bank, First Investment Bank, Eurobank Bulgaria, United Bulgarian Bank, Raiffeisenbank, CIBANK, BNP Paribas, Citibank, ING Bank.
All companies are equal before the law.
A good formation agent is what makes a difference.
ShelfCompanies24.com is one of the leading providers of ready made companies and special purpose vehicles (SPVs) as well as other investment structures delivering outstanding service at very reasonable prices and at highest speed. We have setup and sold hundreds of companies. Our company is considered trustworthy and reliable by our clients as well as by many professional law firms and tax advisers.
What is very unique in our style of operation is the fact that we have our ready made companies already registered in many various countries. All other providers have one address where they keep their shelf companies registered so that client wishing to buy more than one company with different address cannot be satisfied.
Many competitors may be offering lower prices however this always is at the expense of service and provided company quality. Our core activity is company formation and sale of ready made companies thus all members of our team have appropriate professional background. Our shelf companies are formed in accordance to all relevant laws and procedures by the team of qualified and experience professionals and lawyers. On the other hand the maintenance of our ready made companies is performed by licensed and proficient accountants and tax advisers. Therefore our clients can be sure that a shelf company they buy from us is clean, with no debts or tax issues, is formed professionally and its Articles of Association are of high quality.
Our main clients are private investors, traders, law, audit, accountancy and tax advisory firms as well as banks and investment funds. Throughout the years of activity Shelfcompanies24 has been enjoying the reputation of the fastest and most responsive shelf company provider.
Our ready made companies have been formed and maintained by our team. Therefore we always guarantee their quality and that they are debt free, with no trading history and consequently riskless to build new ventures on.
Our services do not finish on the sale of shelf companies or company formation. We provide also many other related and necessary services so that we can be treated as a one stop shop in a business setup in many countries. We are also experts in tailor made company formation as well as compliance and registering various changes within the company like director appointments and dismissals, company name change, share capital increase or decrease, company address change and many other issues.
We also provide tax and legal advisory services that are inevitably required by the businesses. We cooperate with many reputable tax and legal advisory firms whose services we can also recommend when the nature of the problem requires certain field specialist engagement.
For those clients who have a need to present their companies documents in foreign countries we provide apostille and translation services. After company sale documents can simply stay with us for the purpose of their apostille or legalisation and sworn translation to any desired language. This service is mainly required when there is a need to open a foreign bank account for a shelf company.
Furthermore we have agreements with many different accounting offices so that we are able to offer a wide choice of the particular accountant that will be dealing with client’s company. Also in case two or more of our clients are trading partners we can ensure that their books will be handled by separate and independent accountants.
Ultimately we can also support with a procedure of liquidation/bankruptcy of a company if a client wishes to withdraw their business presence. In this case we can either manage the process of liquidation or bankruptcy on client’s behalf or simply just dispose the assets and takeover the company so that the clients can enjoy fast exit.
The company delivered a ready-to-go business, with VAT and EU VAT registration. Paperwork and the whole re-registration process was handled efficiently. I recommend this to anyone looking for a no-hassle company acquisition.
Company name of your choice? Check. Accounting services? Check. Help with tax authorities? Check. Finding a translator? Check. What can I say, these people are great and can help you with just anything.
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Adrianna has completed a master degree in law at European School of Law and Administration. At ShelfCompanies24.com Arianna is responsible of customer service, logistics as well as relationships with the banks.