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How to order a company from LAVECO Ltd
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Numerous clients are starting to choose Bulgaria as the jurisdiction in which to set up companies thanks to the low rates of corporation tax and personal income tax. The country’s banking system is relatively stable, and the exchange rate of the local currency is pegged to the euro. The opening of bank accounts for companies registered here is simple, and receiving an EU tax number does not particularly pose problems.

For more information about Bulgarian companies, please click here

Company formation in Bulgaria

Method of incorporation / registration: 2 phases - 1, Minutes of incorporation and Articles of Association, signed by the members of the company (no notary certification needed) 2, Registration of the company in the register of companies. The company documents must be in Bulgarian. Personal presence is not required.
Company form: Limited Company by Shares.
Source of corporate legislation: Commercial Law of the Republic of Bulgaria 48/1991 amending & completing law 38/2006
Possible suffixes to company name EOOD/LTD for Sole Limited liability company
OOD/LTD for Limited liability company
Restrictions on company name: The name must contain OOD/EOOD. The words Bank, Insurance, Global, National, Imperial, European, Investment, Financial, Trust or Insurance may not appear in the company name.
Time required for incorporation: 1-2 weeks
Number of managers: Minimum 1 manager. Corporate directors are not permitted.
Number of members: One member - EOOD (Sole Limited liability company)
Minimum two members - OOD (Limited liability company)
Capitalisation: Minimum 1 EUR/member
Accounting / reporting requirements: Annual financial statements must be produced. VAT and social security returns must be filed monthly.
Type of shares: Bearer shares are not issued. The capital of the company consists of the stakes of the members, all of which must be at least 10 BGN.
Annual tax and duties: 10% of net profit
Information publicly available: Details of members, manager/s, registered office, autorised capital of the company, sphere of activities.
Registered office: Local registered office suitable for the main activity of the company is required by law
Administrative agent: Not required by law, but highly recommended
Double tax treaty: Bulgaria has an extensive network of DTTs
Related news:
Bulgaria Amends Measures Against Excise Fraud    27.01.2014
Bulgaria Eases Gambling Tax    06.12.2013
Bulgaria Plans New Corporation Tax Break    14.10.2013
Bulgaria Promises Action On Offshore Companies    01.07.2013
Taxation trends in the European Union    02.05.2013
Bulgaria ratifies tax treaty with Switzerland    09.04.2013