There are cases in which a company suffers modifications like changing the business address, the name of the firm, or increasing the capital. Also, the company owners might be interested in changing the business structure into another one, from a sole proprietorship to an OOD or from an OOD to a joint stock company
. All the changes need to be made with the Bulgarian Trade Register in charge of companies in this country. Just like in the case of company formation in Bulgaria
, foreign entrepreneurs can address their inquiries to our Bulgarian team of company formation consultants
who can represent your firm with a power of attorney and who can handle all the modifications in the company. Also, in the case of insolvency or company liquidation in Bulgaria, you may ask for our support.
Companies having financial operations in Bulgaria
will need an accounting department, or better yet, they can benefit from the complete accounting services
provided by our team of consultants specialized in accounting matters. First of all, our team can handle the registration for tax purposes for your firm and then can provide bookkeeping and payroll services for the company. Cash flow report, tax planning, profit and loss accounts, monthly balance, tax filings, tax minimization methods, and financial records are a few of the accounting matters a company with operations in Bulgaria
will deal with. It is good to know that the International Financial Reporting Standards – IFRS and the accounting laws in Bulgaria
are the main regulations which are respected by companies with activities in this country. You are invited to talk to our team of experts and find out how you can benefit from our accounting services for your limited liability company
or for any type of business structure you decide in Bulgaria
Having a vast experience in the company formation in Bulgaria
by helping foreign and local entrepreneurs is among the reasons why you should choose our company incorporation agents in Bulgaria. We can handle the registration of a company from scratch and we can help with the necessary formalities and documents for creating the limited liability company in Bulgaria
. Having support with the authorities when starting a business in Bulgaria allows foreigners to concentrate more on the further operations and investments of the company.
FAQ about OOD in Bulgaria
1. What is OOD?
OOD (drujestvo s ogranichena otgovornost) is the limited liability company, the proper business structure for most of the activities in Bulgaria. The registration is simple and you can discuss all the details with our company formation agents in Bulgaria.
2. What is the minimum share capital for OOD in Bulgaria?
BGN 2 or 1 EUR is the minimum share capital for a limited liability company in Bulgaria. This must be deposited in a local bank account which will serve for future financial activities of the company in Bulgaria.
3. What is the Bulstat number?
Each company must have a tax identification number in Bulgaria
and that is known as the Bulstat number
. The National Social Security Institute in Bulgaria issue this tax identification number for newly-formed companies in the country.
4. What documents do I need for OOD registration in Bulgaria?
The Articles of Association and the Memorandum of Association with information about the owners, the activities, and many more are part of the necessary documents for company registration in Bulgaria.
5. Do I need to register for taxation in Bulgaria?
Yes, the registration for taxation is required in Bulgaria. The VAT, the social contributions, the corporate income tax are important in this country. One of our company formation agents in Bulgaria can help.
6. How many people can establish an OOD in Bulgaria?
OODs in Bulgaria can be established by at least one shareholder. A representative of the company and a director are required.
7. Can I buy a ready-made company in Bulgaria?
Yes, shelf companies or ready-made companies are available in Bulgaria. These are registered as OODs.
8. How do I change the company structure in Bulgaria?
The Trade Register in Bulgaria is in charge of any company modification, as long as these are announced.
9. Do I need accounting services for OODs in Bulgaria?
Yes, OODs are subject to different accounting aspects that can be explained by one of our specialists. Externalized accounting services can be provided.
10. Can I solicit the support of a company formation specialist for representing my business?
Yes, one of our specialists can represent your company in Bulgaria.
Here are some facts and figures about the economy of Bulgaria:
- Bulgaria ranks 61st out of 190 economies in the world, according to the 2020 Doing Business report issued by the World Bank.
- The real estate sector received around 24% of the total FDI registered in 2018.
- The corporate income tax is set at a 10% rate, one of the lowest in Europe.