Obstacles when opening a company in Bulgaria.
What are the main obstacles when opening a company in Bulgaria? We would like to cover the main issues that may arise in front of a business owner that has decided to execute such a decision.
The main issue as with most important decisions is information.
One needs to be fully informed about the legal requirement and regulations already in place. Are you allowed to facilitate the process remotely, can you be the director and owner of you company, which bank to use, what are the accounting standards etc.? These are some of the questions that one has to be familiar with.
The next question that comes to mind is why should you be interested in such a decision?
One of the main reasons are taxes. With a flat corporate tax of 10% and a flat income tax of 10% Bulgaria is currently the most beneficial tax jurisdiction within Europe. Having a company in Bulgaria would allow you to optimize your turnover. Being able to reinvest a large amount of your extra profits back into the company will put you ahead of your immediate competition.
Furthermore, business owners receive a Bulgarian bank with full internet banking access. This gives them the change to access the EU banking system freely.
So how can you overcome these obstacles?
You can choose to partner with a reputable company with experience in the field.
At Bulgarian Law we have 20 years of experience and a team of lawyers, accountants, barristers and economists. Our legal and accounting team are up to date with all legislative changes and will guide you every step of the way.