The easiness both just in the start up and in the bureaucratic management of a company in Bulgaria allow you to focus all efforts only on the business core purpose and at the same time to become truly competitive in the globalised market. This will result in a lower use of energy and stress with a greater "incoming" for the company thanks to the low cost both of general management and human resources.
2) How much time is required to open a company in Bulgaria?
Usually it takes from 1 to maximum 15 days to open a company in Bulgaria so that it is active in every respect and duly registered in the European system "Vies " (Electronic system of exchange of tax information) http://ec.europa.eu/taxation_customs/vies/?locale=it
3) What is the taxation in Bulgaria?
• Company profit, 10 %
• IRES 10%
• Dividend tax, 5 % (if Community and tax resident in Bulgaria)
• Social costs for employees, 10 %
• Taxation of company vehicles used for management purposes, 10 %
• VAT rate, 20 %
4) Is it strictly required the physical presence of the shareholder for the opening of a Bulgarian company ?
At the beginning and / or during the start-up it can be required, but a proxy notary is is sufficient.
5) When a company has to open a bank account?
The company musto open a bank account to pay only for the purpose of the share capital upon completion of the registration procedure and when the company itself is operative in all respects. This account must be closed and at the same time a trading account will be open (it needs just one day).
6) What is the minimum social capital of a Company?
The minimum social capital of a company Ltd in Bulgaria is a 1 Euro.
7) A CE citizen can open a personal account? If this is the case which are the required documents?
He/she can without any restriction. No particular documentation is required, but only valid passport and /or identity card are needed (it needs just one day).
8) Can a director other than the shareholder(s) be appointed?
Yes, this is possible. You can be appoint an administrator other than the shareholder(s).
9) Are the shareholder (s) required to have the tax residence in Bulgaria?
The tax residence in Bulgariais not compulsory. The shareholder (s) and administrator (s) can be a citizen in a different Country of the EU.
10) Is it illegal to open a company in a place different from that one of the residence tax?
It is not illegal to open a company in Bulgaria as well as in other Countries except that each country has its own rules and discipline on this matter. The main task for the chief is to declare the company dividend. He/she commits an illegal only if he/she not declare his/her profit just in the Country where he/she has the tax residence, but it is a personal responsibility in any case.
11) Is it complicated to employ personnel in a Bulgarian company?
It is not complicated and the bureaucracy is very simple and easy.