Company registration in Bulgaria

Meliton Ltd offers a comprehensive full package for Registration Company in Bulgaria. Our Legal services offered through business team who specializes in Bulgarian market.

Company registration process in Bulgaria starts with briefing and detail discussions about your company business plan as for legal, insurance and accounting issues.

Steps are as follow:

1. Our Meliton team prepares for signing all documentation required as (contract registration Act, protocols, declares) for the company registration process.

2. Opening and deposit your initial capital into your bank account. Minimum capital is 1 Euro = 1.95 Lev (We kindly advise for higher initial capital for accounting and prestige reasons).

3. Completion and signing for attorney documentation required to the notary office with oral translation documents concern your registration company in Bulgaria.

4. Submit all documentation package in the commercial register of Bulgaria.

Our company informs you about your new VAT number and company launch.

Company Registration Package in Bulgaria (Limited liability-LLC) (single or multifaceted).

• Includes the preparation and completion for all documentation required for the company registration process.
• Translation for all the documents in any European language.
• Submit all documentation in the commercial register of Bulgaria.
• Providing corporate stamp with invoice form of the company.
• Assistance for opening initial and corporate bank account with payment.
• Listing of the Company's system VIES.
• Notary and legal fees.
• Translation assistance with the social services/banks.
• Listing of your company in our office address (for 1 year).

The estimate total time of the procedure is 2 weeks. 

Estimate time for companies enter into VIES system is plus 1 week.

Your company is ready to launch

Company costs

Listing of your company to our office address. (Charging starts from 2nd year).

• Monthly accounting cost.
• Insurance cost - covering the basic national health package for the company administrator.
• Insurance cost - covering the basic national health package for the employee (if any).
• Yearly company balance sheet and publication to national government newspaper.

Please note that we extra charge for every additional services. 

Thank you for your business

Our address:

Meliton Ltd City Center 1st floor, Petrich 2850 Bulgaria

On the web:

Our website: www.meliton-group.com

Our blog: meliton-group.blogspot.gr

E-mail: info@meliton-group.com

Skype: meliton.group 

Sofia, March 27) - Four documentaries featuring the advantages of the investment environment in Bulgaria are being prepared by the Bulgarian Agency for Investments.

The documentaries are part of the largest advertising campaign in Bulgaria's recent history, aimed at promoting the conditions for doing business here.

This became clear at a conference in Sofia, where representatives of the largest economic media in the world presented their activities and the potential benefits from their cooperation with the Bulgarian government. The campaign costs 15.6 million levs and is financed under the Operational Program Competitiveness of the EU.

Each of the four documentaries will cover different topics ? human potential, industrial zones, successful investors (foreign and Bulgarian alike) and the priority economic sectors in the country.

They will be used in presentations and will be a virtual brochure about Bulgaria.

In addition, three short videos featuring the investment climate in Bulgaria will be continuously broadcast by Bloomberg, CNBC and CNN.

Finally, over 40 banners will be advertising Bulgaria on the websites of Bloomberg, Wall Street Journal, Financial Times, The Economist, CNBC and CNN. The printed editions of these media will publish 39 articles advertising Bulgaria as an investment destination.

"Strange as it may seem, many investors don't even know that Bulgaria is a full member of the EU with a ten-percent corporate tax," said Borislav Stefanov, head of the Bulgarian Agency for Investments.
Martin Lekov http://paper.standartnews.com

Bulgaria is located at the center of a dynamic transit zone of interests – on the crossroad between the East and the West, Europe and Asia, the developed and developing economies, the existing and projected energy flows intended for the needs of Europe.

The network of almost all European Transport Corridors passes through the country, making it the only possible land border of the traffic between Europe and Asia Minor. The close location of the Danube River, the Black Sea, the Aegean Sea and the Adriatic sea also contribute to the good logistics resources of the country and the broad and immediate market access to: Turkey, Asia Minor, the Black Sea countries (Russia, Ukraine, and Georgia), EU and EFTA member states.

Within a distance of 500 km from the capital city of Sofia, there is population of more than 60 million people in 10 countries, most of which have entered the market economy relatively recently. Thus, the location of the country proves to be crucial for a huge and still unexplored market, whose demands are among the most rapidly increasing ones all over Europe.

All these advantages of Bulgaria’s location, combined with the qualified labour force, low operational costs, political and economic stability, have placed the country in 2009 among the thirteen most attractive outsourcing destinations in the world according to the research made by AT Kearney. Despite the sharp fall down from the top 15 in 2008 in the chart of AT Kearney to the places following the 32nd position of the other countries in Central and Eastern Europe in 2009, apparently this fall down has not affected the good rating of Bulgaria among the business operators.

The above mentioned advantages, which smart entrepreneurs could utilize by opening subsidiaries in Bulgaria, are still more tangible during crisis periods.

Offices in Bulgaria

 

Bulgaria has seen a surge in top-quality office real estate 

 

Business Park Sofia is the largest office park in Southeastern Europe with a total built up area of 300 000 sq.m. It is a genuine multifunctional high-tech business park, located within 15 minutes’ drive from the city center and Sofia Airport.

European Trade Center in Sofia, Bulgaria, opened in 2010 and has an offi ce area of 72 300 sq.m. It is located at a 10 minutes’ drive from Sofi a city center and just a few minutes drive from Sofia Airport.

Business Park Varna is a multifunctional office buildings complex located on an area of 67 430 sq.m. It has a unique design and excellent infrastructure. Its location is within 5 minutes’ drive from Varna Airport and 10 minutes’ drive to Varna city center.

 
Sopharma Business Towers is one of the newest office and retail buildings in Sofia with an area of 11 000 sq.m. It has remarkable architecture and offers high-tech office space using the energy of the sun, wind, the natural temperature of the soil and ground-water.

Office rents in Sofia are the lowest in the region...

• The modern office stock in Sofia is 1 405 700 sq.m of which 45% is Class A
• The office space under construction stands at 306 000 square meters 
• Vacancy in Sofia is 30%

Average monthly prime office rent in Sofia and other selected European cities, € per sq.m.

Sofia - 12
Bucharest - 15
Zagreb - 16
Bratislava - 17
Belgrade - 18
Budapest - 18
Lisbon - 18
Istanbul - 20
Athens - 21
Prague - 21
Berlin -21
Warsaw - 26

Bulgaria’s economic freedom score is 64.7, making its economy the 61st freest in the 2012 Index. Its overall score is down slightly, reflecting deterioration in freedom from corruption, government spending, and business freedom. 

Bulgaria is ranked 27th out of 43 countries in the Europe region, and its overall score is above the world average but below the regional average.

Bulgaria has weathered the impact of the global economic downturn relatively well, with the economy supported by generally prudent public finance management. 

Continued reform to strengthen the foundations of economic freedom, however,will be indispensable in ensuring vibrant economic development in coming years. Lingering corruption and the weak rule of law have added to the cost of conducting business. Bulgaria’s transition to a more open and flexible economic system has been facilitated by substantial restructuring measures over the past decade. While maintaining macroeconomic stability, it has made considerable progress in income growth and poverty reduction. Competitive flat tax rates and a competitive trade regime, supported by a relatively efficient regulatory framework, have encouraged the development of a growing entrepreneurial sector.

Background: Bulgaria joined the European Union in January 2007 but has not adopted the euro. The center-right GERB (Citizens for European Development of Bulgaria) party was the clear winner in the July 2009 parliamentary elections but relies on the support of a right -wing nationalist group, Ataka, to pass legislation.


In late 2010, France and Germany announced that they would block Bulgaria from joining the EU’s passport-free zone until it makes “irreversible progress” in fighting corruption. Tourism, agriculture, and mining, including mining of coal, copper, and zinc, are the leading industries.

Reversing previous growth trends, Bulgaria’s economy contracted in 2009 and stagnated in 2010. Bulgaria is involved in two rival gas-pipeline projects: Russia’s South Stream pipeline and the EU-backed Nabucco pipeline.

RULE OF LAW

Respect for constitutional provisions securing property rights and providing for an independent judiciary is somewhat lax. The judicial system is unable to enforce property rights effectively, and inconsistent application of the rule of law discourages private investments. Despite legal restrictions, government corruption and organized crime present a threat to Bulgaria’s border security.

LIMITED GOVERNMENT

The income and corporate tax rates are a flat 10 percent. Other taxes include a value-added tax (VAT) and an estate tax, with the total tax burden equivalent to 25.7 percent of total domestic income. Government spending has risen to 40.7 percent of total domestic output, leading to a higher budget deficit of around 4 percent of GDP. Public debt remains quite low at 17.4 percent of GDP.

REGULATORY EFFICIENCY

Launching a business has become less time-consuming, and licensing requirements have been eased, though the pace of change has lagged behind some other countries in recent years. Labor regulations are relatively flexible, although the non-salary cost of employees can be burdensome. Labor productivity has been slightly higher than wage increases. Most prices are determined by market forces, and inflation has been modest.

OPEN MARKETS

The trade weighted tariff is 1.4 percent as in other members of the European Union, with myriad non-tariff barriers sometimes nullifying the low tariff. Foreign and domestic investors are treated equally, but arbitrary bureaucracy is an impediment to more dynamic investment. Privatization of state-owned banks is complete, and foreign banks account for more than 80 percent of total assets. Credit is generally allocated on market terms.

Setting-up a transport company in Bulgaria

Setting-up a transport company in Bulgaria            

Our specialized team undertakes the process of setting-up a transportation company in Bulgaria with full monitoring services and flat tax 10%.

The stages for setting-up a transport company in Bulgaria include:

Company Set up (Limited liability-LLC) (single or multifaceted)
1) Includes the preparation and completion of all documentation required for the creation and launch of the company.
2) Translation of all the documents in any European language.
3) Submit all documentation in the commercial register of Bulgaria.
4) Provision of corporate seal of the company.
5) Opening a corporate account with payment (advice for 2.500 Euros, capital cash back after the publicity in the Government newspaper).

6) Listing of the Company's system VIES.
7) Registration of the Company's tax status, as well as the customs department for the issuance of (EORI-Economic operator registration and identification code) necessary to custom clearance goods from or to countries of the European union.

 The estimate time of company registration process after document signing is 20-25 Days.

Cost of Insurance and Card trucks issues  

·        Time issue of blue card for 5 years.

·        Issue of mother card

·        Issue for any next card

·        Car Labels, road tax, Moto meter, translations documents, Technical control of trucks for 1 year (6 months for trucks up to 10 years), insurance coverage and green card issue for 1 year.

·        Issuing invoices and original licenses.

·        CMR insurance -  commodity coverage for 1 year.

·        CDW insurance 2.3 - 2.6% of the real truck price.

Staff Insurance costs

The staff insurance estimate costs are:

Stamp and insurance covering of the company’s executive director.

Stamp and insurance covering of the driver.

Stamp and insurance covering for transport manager.

Estimate total time for Launch Company is 40-45 days. 

Meliton At Glance - Start you Business in Bulgaria now

M

eliton Group is a consulting firm founded in March 2012 in Bulgaria. Our main focus is to provide with high quality of services in the field of business organization in Bulgaria. After the entry of Bulgaria into the European Union in 2007, a number of important benefits obtained for potential investors due to attractive business environment and investment opportunities it offers. For those reasons, Meliton Ltd encourages you to set up or to transfer your business in Bulgaria providing a full package with legal and accounting services. Our team care about your business future, with consistency and accountability to your investment.

WHY IN BULGARIA?

•  Low taxation of individuals 10% (Flat Tax)
• Corporate tax 10% (Flat Tax)
• 5% tax on dividends
• VAT 20%
• Minimum required capital for investment is 2 lev = 1 Euro.
• Tax refund within 30 days.
• 0% tax in parts of Bulgaria with high unemployment.
• 0% tax on intro-Community transactions.
• Stable banking system.
• Signing international agreements in force on the avoidance of double taxation in most EU countries.
• Avoid complicated tax systems.
• Bulgarian invoices are recognized across Europe.
• Multiple use of the company's activity.
• Short distance from important trading paths as Greece, Romania, Turkey
• Low insurance contributions.
• Low accounting cost.
• Low labor costs.
• Perfect use for e-shops and products for imports - exports within the European Union.
• 2 years VAT exemption for equipment imports and approved investment plans for over 5 million euros, creating at least 50 jobs.
• Tax depreciation for 2 years for buying new computers and production equipment.
•  Easy access to the Russian Market.