Bulgarian Limited Company formation. Company set up Formation – 300 euro -

For the moment, so that a foreigner can own land in Bulgaria, as agricultural land, regulated plot of land / land for building or house with land, farms, and etc.  must have a registered company in Bulgaria.

The legislature gives the right to choose for setting up a company with one owner/shareholder - Sole limited liability company EOOD or with two or more  owners/shareholders -Limited Liability Company OOD. Until recently the new companies had to have a minimum start-up capital amounted to 5000 Bulgarian Leva.

With a change in The Trade law and the new United register of legal persons 01.01.2008, registration of a new trade and the record of any changes take place only in one  place - the Registry Agency, which will automatically notify other institutions - National Revenue Agency, National Insurance Institute and others, but the  registration / of traders / in BULSTAT register in no longer required. Stating circumstances, subject to entry stay as it was done until now - at the headquarters of  the firm, but to the territorial unit of the Registry Agency, acting on the territory of the district court, i.e. respective district town. Commercial sites are  identified with only one code - a Unique Identification Code (UIC). UIC is determined at the initial entry of a company and remained unchanged until the erasure. Are  the requirements of the law for the registration fulfilled is verified by experts - so called "Registry officials" who are qualified in law. The requirement a new  company set up to be published in The Official Gazette, is replaced by publication in the Agency's website. This is done automatically by The Registry Agency the  vendors are exempted from this commitment and do not have to wait anymore the long time for publication in the Gazette.

Reserving a company name is quick and safe and applies to all over the country. Unified Information System is built in a way that ensures data security in the  Commercial Register. From 16.10.2009, the legislature is friendly to people wishing to start business in Bulgaria and the registration of companies is one of the  most accessible in Europe. Thus, the setting up capital of a company has changed from a minimum of BGN 5000 to BGN 2.

The law allows the company to increase its  capital. Any company can purchase an unlimited number of properties. Any company whether is or not trading, each year must prepare and submit annual tax returns and  annual financial statements for the previous calendar year at The National Revenue Agency and the National statistical institute and to prepare and submit a  statement of revenue and expenditure and balance sheet for the previous calendar year in the Commercial Register. If a company starts to operate, you must be  registered in National Revenue Agency and to provide the manager and the employees / if there are any/, in a way determined in the Bulgarian legislation at the  National Insurance Institute.

Bulgarian company registration now for Only 300 Euros!

The registration of a company in Bulgaria is now offered at a lower price of 300 Euros instead of the previous price of 600 Euros. This reduction is due to the cheaper company formation because of the new system of the online Trade Register.

Why need to form a company?

If you are a foreign person, you are still not allowed by the Bulgaria Law to own as a physical person a property which comes with land. Properties that come with land are: houses with gardens, plots and in some cases, apartments which go together with ideal parts of the land the block was built on. The only way to buy a property with land in Bulgaria is by forming a Bulgarian limited company. This is a smooth and straight-forward procedure, which has been used by thousands of foreigners so far.

BULGARIAN PROPERTIES DIrect will help you with the registration of a company in Bulgaria.

The company you register will own the property and you will own the company and its assets. There is no need to have a Bulgarian partner or manager of the company – any foreign person can register and own 100% of the shares of a Bulgarian company. It will be a regular limited company, which can also trade and you can do business with it if you wish. Tax conditions in Bulgaria are very favourable for starting a business.

Will foreigners be allowed to own land as physical persons and when?
EU physical and legal persons will be allowed to own land in Bulgaria in the coming few years. After Bulgaria joined the EU in January 2007, the Treaty of Accession of Bulgaria to the EU allows Bulgaria to keep the prohibition for EU physical and legal persons to buy land in Bulgaria for up to 5 years for land and up to 7 years for forests and agricultural land after its accession to the EU. So, it will take a few years more for EU countries’ citizens to be allowed to own land in Bulgaria and in the meantime they can do this by registering Bulgarian companies.

For citizens of countries, which are not EU members, things will probably remain the same as now and they will need to register companies in order to buy land in Bulgaria.