WHO AND HOW CAN FORM A LIMITED LIABILITY COMPANY?

The person/persons (foreign or local) will be liable for the company's obligations to the value of his/hers share in the company's registered capital. Once you have chosen which property to buy, you will instruct a Preliminary Contract to be drawn up and pay a 10% deposit. Then the lawyer checks Title. You also set up a company at a cost of 850 Euro which requires opening a bank account (small fee applies) with the deposit of 5000 BG Lev. / That founding capital for the registration of the company can be withdrawn from the bank in full as soon as registration is completed /

If you need to register a Bulgarian limited company - 1655,50 leva /850 Euro/ This price includes: /price is in leva, use universal currency converter /

• state fees for registration of the company in the Trade register of the relevant court- 122,50 leva
• fee for reserving a name of the company- 100 leva
• fee for promulgation in the Gazette- 25 leva
• fee for registration at the Bulgarian Statistics Institute, the tax service and the Social security institute-60 leva
• preparing of a company stamp-17 leva
• fees for notarizations of the documents- 46 leva
• fee for a translator and certified translation- 80 leva
• solicitors fees- 1200 leva
• /Registration of a company is not required when purchasing a flat / property without land/

At the time of submission the following documents must be available to the court:

• Articles of incorporation;
• Memorandum for appointment of Director/ Directors;
• Proof that each shareholder has paid at least one third of its interest, but not less than 10 leva;
• Proof that 5000 leva have been paid

All Bulgarian legislation is published in the State Gazette - the official paper of Bulgarian State. So the publication of the company entry in the Commercial Register does not complete your company formation, it announces to the general public the act of formation.

The process of forming a company can take between few days and few weeks.

Finally, the new company need to register immediately with the National Tax Register Authority

Taxation

Most of our clients ask about the tax regime in Bulgaria and the taxes they will have to pay after becoming a Bulgarian property owner. We are not qualified to give such information or to advise you on such issues, but we can recommend you to refer to Taxado in case of any tax questions. Taxado is Bulgarian based company specialized in the tax advisory services. Their professional team can help you understand your future tax position in both Bulgaria and Great Britain, as well as give you the most tax saving structure for your property investments in Bulgaria

22A Acad. Methodi Popov Str.
Sofia 1113, Bulgaria
telephone: +359 2 81 74 089
facsimile: +359 2 870 05 17
e-mail: office@taxado.com