Why Bulgaria is the perfect destination to establish your business ?
The national currency – lev (BGN) is fixed to the Euro and is not subject to currency fluctuations, which means it is very stable. € 1 = BGN 1.95583
Bulgaria has the lowest corporate tax rate within the European Union – 10% (flat rate) and the lowest taxes in general.
The registration of a Bulgarian legal entity requires only a few days. The minimum registration capital that is required is extremely low – only EUR 1. VAT registration also happens relatively fast. Most VAT registrations are completed within 10 days.
Bulgaria has concluded double tax treaties with more than 70 countries around the globe, which permit for the evasion of double taxation. One of them is also Greece. Also, due to the existence of the Parent-Subsidiary Directive (2003/12/EC), double taxation of dividends received by a parent company located in one Member State from its subsidiary located in another is eliminated.
A key advantage in opening a company in Bulgaria lies in the possibility of using a power of attorney to register the company. Thus it is not mandatory for the founder to be present in Bulgaria when the company is being registered.
Unlike the laws of some foreign countries, the law in Bulgaria does not require a minimum number of people to be employed in a company. The company may have only one owner and the owner can be a foreigner. The owner himself may also be a manager and may sign on behalf of the company.
The registration of a company does not automatically lead to “running” financial obligations. If a company has been registered but it does not operate, it does not have any financial obligations. The only obligation in such a case would be the submission of an annual tax return.