Our Practice Areas
Starting a business in Bulgaria by registering a company is fast and cheap. Bulgaria is developing as one of the best outsourcing destinations in EU, providing low overhead of the companies with affordable office space, utilities, travel expenses, equipment, accounting, etc. Our law firm provides wide variety of legal services for your business in Bulgaria, such as:
- Administrative registration
We can represent you before National revenue agency, National social security institute, Registry agency, Commercial register, competent court as well as any other municipal or state bodies in relation with your business. We can provide legal assistance with registrations required by law, appeals against administrative acts, penal decrees, revision acts, etc. and representation until the final conclusion of the relevant procedures.
- Residence card
A citizen of the European Union can enter and leave the territory of the Republic of Bulgaria with a valid identity card or a valid passport and can stay up to 3 months. If you plan to stay longer you should apply for residence in Bulgaria on one of the following grounds:- You are staying in Bulgaria as anemployed person or a self-employedperson.- You are staying in Bulgaria as afamily member.- You are staying in Bulgaria as astudent. - If none of these grounds apply to you, you may still have your residence in Bulgaria as long as you have sufficient funds to support yourself. We will take your personal circumstances into account and help you choose what is best for you. We can assist you throughout the registration process – from the moment you arrive in Bulgaria to the final receipt of all necessary residence documents making the process easy for you. We will represent you before the relevant institutions and assist you in obtaining Bulgarian residence documents, health insurance, VAT number, opening a bank account, obtaining a Bulgarian telephone number, car registration, etc.
- Taxation in Bulgaria
It is important to note that after obtaining a residency status in Bulgaria, all taxes and social security contributions are due in Bulgaria, where the rates are much lower than almost all EU countries (i.e. maximum 500 EUR / month for the social security, 6% to 10% for the personal taxes and 5% for the taxation of the dividends).
- Buying property
Buying property in Bulgaria offers great value for money as real estate prices and costs of living could be very low. In case you want to buy a property in order to resell it at a later stage, this is also a very good investment as in recent years the property market in Bulgaria has been developing rapidly and it is very dynamic, with high demand and interest both from local and EU citizens. Citizens of Member States of the European Union or companies registered in EU may acquire property – both land and buildings, in Bulgaria freely under the same conditions as local residents. Foreigners and foreign legal entities outside EU may acquire property only to buildings and limited property rights (such as the right to use, construction right, etc. but not ownership right) to land in the country. Whether you need preliminary research and analysis of the property market, or you have already chosen the right property for you, you can contact us for legal advice and support throughout the entire process of transfer of ownership until the final acquisition of the property. We can provide you with a step-by-step guide how to safely buy your property in Bulgaria. Our experts can help you with:
- legal research of the property:checking its ownership, whetherthere are encumbrances, mortgages,etc., which is of great importance when making such an investment;
- preparation of the necessarydocuments (preliminary contract,notary deed)
- representation through power of attorney.
- Bank Account
Opening a bank account may not always be quick and easy. That is why we can simplify the process for you by representing you with Bulgarian banks (members of major European groups: Unicredit, KBC, OTP) and assisting you in opening the necessary accounts (in EUR, BGN, USD and other currencies) with online and/or mobile banking, debit/credit cards and issuing the necessary certificates more quickly and easily.
Depending on your personal or professional needs, we can prepare various contracts such as commercial contracts, purchase and sale agreements, employment contracts, lease contracts, loan contracts, preliminary contracts and many others. In case you already have a signed contract, we can provide professional legal assistance with its interpretation or termination as well as to prepare the necessary annexes, supplementary agreements, appendices, etc. to the signed contracts. In addition to the above services, we can review and provide an opinion on a submitted draft contract during negotiations prior to signing.
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