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Bulgarian Company

Bulgarian Company | Bulgarian Company Formation

 Bulgarian Company

Bulgarian Company | Bulgarian Company Formation

  • Bulgarian Company | Bulgarian Company FormationBulgaria, officially the Republic of Bulgaria, is a country in southeastern Europe. It is bordered by Romania to the north, Serbia and Macedonia to the west, Greece and Turkey to the south, and the Black Sea to the east. With a territory of 110,994 square kilometres (42,855 sq mi), Bulgaria is Europe’s 14th-largest country.Bulgaria’s population of 7.4 million people is predominantly urbanised and mainly concentrated in the administrative centres of its 28 provinces. Most commercial and cultural activities are centred on the capital and largest city, Sofia. The strongest sectors of the economy are heavy industry, power engineering, and agriculture, all of which rely on local natural resources.The country’s current political structure dates to the adoption of a democratic constitution in 1991. It is a member of the European Union, NATO, and the Council of Europe; a founding state of the Organization for Security and Co-operation in Europe (OSCE); and has taken a seat at the UN Security Council three times. – Source Wikipedia -.
  • Bulgarian Company | Bulgarian Company FormationUntil 1989, industry and communications were controlled by the State. From then until today, Bulgaria has become a model of free market condition and is considered the most industrialisedcountry of the former communist bloc. During the Soviet era, Bulgaria was one of the most important centers of the electronics and high tech industries and is an important investment hub in these sectors. The services sector comprise 58% of the Bulgarian economy, Industry contributes 30% and the remainder from agriculture and industry.Bulgaria has a stable political landscape and an even more stable Fiscal policy with regard to taxation. The country institutes a flat 10% tax rate on all forms of income (with the exception of dividends, which is 5%).

    A combination of a highly skilled workforce, stable political and fiscal climate , the non adoption of the Euro and the lowest income tax in Europe have made Bulgaria an important center of Business Process Outsourcing and a Tax-Haven (outside of the traditionally scrutinized offshore havens such as Cyprus and Malta).
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Bulgarian Company | Bulgarian Company Formation | BG_Report_PNG
 

 

Bulgarian Company | Bulgarian Company Formation

 

 

Bulgarian Company | Bulgarian Company Formation

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Bulgaria Key Company Features
General
Company type Limited Liability Company (LLC)
Type of Law Common Law.
Requirement for registered office and address Yes, must be maintained in Bulgaria or at
the premises of a licensed accounting
company(we can assist in proposing).
Name restrictions Names of existing firms,or names similar enough to
cause confusion. .We can assist with naming.
Language of name Can be registered in any language but has to also be
incorporated in Bulgarian Cyrillic,
IBC allowable suffixes EOD or EOOD if the company has one or two
shareholders respectively. Both suffixes correspond
to LLC,
Corporate Taxation 10%
Corporate legislation environment Corporate law in Bulgaria according to sector and activity
is governed by several string acts ie ”The Commerce Act”,
”Commercial Register Act”, ”Commercial register act”,
”cooperatives act”, ”Public offerings of securities act”,
”credit institutions act” and the ”Special purposes investement
companies act”
Language of legislation and official documentation Bulgarian
Confidentiality There is a public register of company officers. We can
assist with Nominee shareholders/directors.
Stability Stable legal and social environment
Formation Time 10 Days
Bearer Shares Bearer shares are not permitted
Timezone GMT+2
Share capital requirements
Official currency BGN (Bulgarian Lev)
Risks of devaluation None. The BGN is pegged to the EUR at 1.95583
Share capital requirement 1 EUR equivalent
Directors
Minimum Directors 1 (Nominee can be appointed)
Requirement for local administrator or Director None
Shareholders
Minimum number of shareholder/s 1 (Nominee can be appointed)
Public records access requirements No
Company Secretary
Requirement Optional
Local or licensed requirement None
Statutory Accounts Requirements
Accounting/Reporting requirements Yes
Annual Tax returns Has to be filed annually
Requirements for Audit No up to a certain amount turnover
Note: if you are interested in the possibility of EU Citizenship, please click on the relative choice in our
Bulgaria quotation page. Click the below link to be redirected.