Shortcuts and hurdles of the Bulgarian incorporation

What are the Shortcuts and hurdles in Bulgarian Incorporation? Investors lose around a month of working hours just to comply with the requirements of administration. Bureaucracy still is one of the main obstacles on the path of Bulgarian incorporation. Despite the government claims in putting efforts and ideas to ease regulations for the business. 175 hours every year are spend in different procedures and obligations imposed by the state, says a report from a non-government economic institute. Calculated in working hours, this statistic is almost 22 working days lost for productive activity or 960 leva money loss.

Well, it is not all bad news for the companies in the country. Especially for the ones that about to be formed. The same report compares what is the average time necessary for the administration to give a „Go“ to a new firm from the moment of submission of information to the agency to the minute of approval and activation. Bulgaria incorporation is faster than the same process in other former socialist territories like the Czech Republic and Slovakia. When talking about Shortcuts and hurdles in Bulgarian Incorporation this is something that is worth noting.

The number of newfound companies rises 1-1,5 percent every year another report says, relying on official statistics.

Anyway, large portions of fresh firms never reach their 5 year anniversary. A big number of enterprises bankrupt soon after they are created by the process of incorporation. The percentage of companies making it after the 5 year term has shockingly dropped down to only 5 percent in 2015. And though the situation got better last year, a number of sums owed by the firms in the country increases.

There are no easy shortcuts in business – hurdles appear everywhere, not only in Bulgaria. The prospects of a future company depend on finding the appropriate formula for distribution of resources. BulgarianLaw.co can not offer magic tricks but can give customers years of expertise in the field.