A new company in Bulgaria?
The end of the year has come, this good for some people and for other – not. Let us assume that you are one of those for whom this is good! The best thing is that New year is coming with new dreams, new passion, new strength… Great – let’s use them for good (as sometimes they disappear very fast 😉 ). Finally you are ready together with the new year to start your OWN business! Congratulations!!! Keep this volcano of enthusiasm that you are having right now and pay attention to few very important matters from the very begging.
- Creating a company – do not decide if your company will be limited liability company (OOD) or single-member limited liability company (EOOD) by the way it sounds to you, or by the advise of the neighbor. Discuss it with a lawyer and accountant, note it – and! This decision will determine how much you will pay for social security taxes to the country, in order your company to be in line with the law.
- VAT registration – again we ask you the decision not to be made according to the mentioned above criteria or because of prestige, interpreted in the wrong manner! Discuss it with the accountant, explain to him/her what is your intention for business development, if you will trade with foreign countries, do your biggest suppliers have VAT registration, etc. After the correct transfer of the information your accountant will advise you on what stage this registration will be suitable or obligatory for you.
These were only two points, but we believe, that they can determine a lot of things in the future. We do recommend you after you will have the business idea shaped in your head to take 30 minutes and discuss it with an accountant. He/she will explain to you a lot of legal and administrative details which you will have to comply, even before your business will actually start.
If you are one of the smart people who took the decision to work for yourself, but you still did not choose your accountant, feel welcome to meet us on a free preliminary meeting, in order to help you better understand the main points in your enterprise.
Our team wishes you Happy New Year!
In case you find yourself in this article and you need assistance, make an appointment with our team. We will help you to clear the hole process and choose the best solution for you and your company.
+359888420583 Magi Bogdanova
+359887853280 Galya Stoykova