A step by step Guide to Incorporation of an Entity in Bulgaria

A step by step Guide to Incorporation of an Entity in Bulgaria

Introduction

Are you looking forward to starting a business in Bulgaria? Then look no further than the Company in Bulgaria. It is one of the best corporation services which help you with your company registration and also management in Bulgaria with a wide variety of qualified workers. If you have been having problems in the process of registration or do not know the nitty-gritty of incorporation of an entity in Bulgaria then Company in Bulgaria will address all your problems. They are not only efficient in their services but the costs of registering a company are reasonably fair. Also, they are a large firm which undertakes their services quickly and delivers results on time that is within 3 days your company is registered and you are ready for business.

Incorporation Procedure of an Entity in Bulgaria

Starting a business in Bulgaria is the best decision you can make especially due to its low-cost operating procedures and a corporation tax of a 10% flat rate. It is the lowest in the world including joining the European Union market for stock exchange. Before incorporating an entity in Bulgaria you should ensure that you comply with the following procedures and regulations.

  • Before registration, first, you need to decide whether your corporation will be EOOD or OOD. EOOD Corporation is where there is only one shareholder who forms and owns the entity. On the other hand, OOD is a corporation where two or more shareholders form an entity by contributing a minimum share capital of BGN 2 and sharing profits and losses equally.
  • You should have the minutes of the meeting from shareholders or the general meeting for general partners.
  • After obtaining minutes of the meeting, you obtained notary certified statements of the concert, a signature specimen of the managers, and a copy of the Articles of incorporation or partnership.
  • Obtain a certificate from a bank stating at least 70% of the minimum capital required paid.
  • The certified statement of consent and signature specimen of the manager you obtained must be notarized.
  • During the actual registration, you deposit the notarized foundation deed, minutes of the meeting of the incorporation, and bank certificate to the Registrar of Trade.
  • After registration, you fill an application to the National Revenue Agency followed by the foundation deed, bank account documents, and an excerpt from the commercial registry for you to get the VAT number.
  • The whole process from the incorporation of an entity to getting the VAT number takes approximately two working weeks.

Summary of the steps in incorporating an entity in Bulgaria

The following are the steps followed when incorporating an entity in Bulgaria:

  1. Choose, verify, and reserve the name of your business in Bulgaria. The most common businesses in Bulgaria are EOOD-single person limited liability company, Private Limited Liability Company- ODD, Single Owner-ET, Public Limited Company-AD, Freelance, and Branch in Bulgaria.
  2. Appoint the representative agent for your business in Bulgaria especially if you have a virtual business.
  3. Deposit a minimum of BGN 2 share capital in the local bank. This is the lowest cost of operation.
  4. Prepare and submit the Memorandum of Association, Articles of Association, List of Directors, written consent of Directors, and statutory declaration for your company in Bulgaria.
  5. Verify and apply for a business license in Bulgaria this will ensure that you are operating legally in Bulgaria and you will benefit from a 10% tax flat rate.
  6. Register for tax purposes and apply for Bulstat number for a Limited Liability Company in Bulgaria

Conclusion

Incorporation of an entity in Bulgaria is easy, cheap, and takes less time that is 2-3 working days and you have your business legally running. You will take advantage of the low cost of operation in Bulgaria especially the favorable tax return of a 10% flat rate and the added advantage of operating in the European Union Open market for stock exchange.

Learn more: https://company-bulgaria.com/incorporation-of-an-entity/

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