1. Since 2007 Bulgaria has been a member of the EU and there are no restrictions on trade with EU members.

The fact that Bulgaria officially belongs to the European Union ensures that Bulgarian companies enjoy free movement of international trade in areas covered by European standards.

2. You will reduce your tax bill, and your company’s running costs will also be reduced due to the cheap labour available.

The costs of companies in Bulgaria are hugely reduced, for instance in the area of tax.

Tax:

• • Value Added Tax (VAT) in Bulgaria is 20% (For some services, such as hotels, VAT is reduced to 7%).

  • Corporate tax (flat tax) is 10%. (The progressive tax scale has been abolished and replaced by a single 10% rate.

  • Dividend tax is 5%.

3. There are no taxes on intra-Community supplies and exports.

• • The low cost of property and land means that having a registered office is much cheaper. You can rent an office in Sofia for 150 – 200 Euro a month and the cost is even less in other Bulgarian cities. The cost of accounting and logistical support is also lower as the price of labour is significantly lower.

  • The minimum wage in Bulgaria is just over 150 Euro (309 leva). We all know that many Greek factories and businesses have moved to Bulgaria in recent years because of the low labour costs.

  • Also, the lowest monthly social insurance payment for a worker is 30 euros (57 leva).

4. The procedures for setting up a company are simple.

• • The processes for setting up a company are fast and simple – and there are no bureaucratic hurdles to negotiate. You can set up a Ε.Π.Ε (limited company). in 4 – 5 days, and it takes 10 days to register with the Tax office and to get a VAT number for your company.

  • A permit for a transport company can be issued in 15 to 30 days and it is not limited in anyway. At the same time, the cost is exceptionally low, (1100 Euros). In Bulgaria, public services are open until 5:30 pm. and public employees are always ready to serve citizens. All banks are open until 4: 30-5: 00 pm, and some are also open on Saturdays.

5. No yearly payment and no restrictions on rights.

• • There is no yearly payment required to keep the company operating. The company continues without any annual renewal fee being needed to keep its active status. Something else which is important to recognise is that a company can operate remotely with only its headquarters and address in Bulgaria.

  • There are no restrictions on the ownership and management of the company as far as the nationality of the owners and the management team is concerned. So it is not necessary for either the owners or the management team to be Bulgarian nationals.

  • There are also no restrictions on buying real estate. Any company which is owned by foreign interests can by properties, land for building or even agricultural land. Non-Bulgarian natural persons also have exactly the same rights.

6. Low market prices.

• • Prices in Bulgaria are much lower than in Greece. This is the case in all sectors - labour, electricity, rents, telephones, real estate, supermarket food etc. A large BMW or MERCEDES car, for example, costs the same as a PUNTO in Greece, and petrol is 30 euros a litre.

7. Proximity to Greece.

• • Finally, Bulgaria shares a border with Greece and it is only a short distance from Greece. The capital of Bulgaria, Sofia, is only 303km from Thessaloniki.

The Services we Offer

• • We draw up all the documents needed to establish a limited company (LTD).

  • We will open a special bank account with a bank in Bulgaria, and will submit the company’s financial capital (LTD).

  • We will pay the necessary taxes to the company’s Commercial Register.

  • We will obtain the certificate needed to register the company.

  • We can obtain a company seal.

  • We can process the documents needed to register the company in the VAT register.

  • We act as your representatives at the tax authorities and to complete the VAT registration process.

  • We can register the company manager with the National Revenue Agency and receive his official personal number.

  • We can open the company's bank account with e-banking, debit cards, etc.

  • We will draw up the relevant documents, pay state taxes and register the company’s manager.

  • Register any self-employed persons working with the company.

  • We can acquire the necessary Bulgarian residency permits and identity cards.

You should be aware that, in accordance with the agreements that have been signed with the accountants, the following fees are paid on a monthly basis:

• • Fees for accounting services

  • Fees for rental agreements

The accountants will issue monthly invoices for payments. If payments are more than three months in arrears the contracts will be cancelled. If the rent contract is terminated, the Immigration Department is informed and the directors must provide another official address in Bulgaria, otherwise their residence permits may be cancelled.

Additionally, we provide:

• • Translation Services & Interpreters!

  • We can also provide quick and safe transport in our cars for Entrepreneurs who wish to travel from Greece to Bulgaria and back.