InBg Chat Room  

Calendar  
<< October 2018 >>

M T W T F S S
1234567
891011121314
15161718192021
22232425262728
293031       


In Bulgaria: Forums   


 Forum FAQForum FAQ   SearchSearch   UsergroupsUsergroups    ProfileProfile   ProfileMember List
Log in to check your private messagesLog in to check your private messages   Log inLog in 

Limited company set up.
 Goto page 1, 2  Next
 
Post new topic   Reply to topic    In Bulgaria Forum Index -> Employment & Business Info
View previous topic :: View next topic  
Author Message
tumblindown
Golden Oldie
Golden Oldie


Joined: Jan 02, 2014
Posts: 4627


PostPosted: Fri Nov 04, 2016 11:06 am 
Post subject: Limited company set up.
Reply with quote

Whats the cheapest way to set one up?

I've been told 500lev up to thousands of lev.

It's much, much cheaper to set up a limited company in the UK , not that I want to, just a comparison of costs.
  
Back to top
View user's profile Send private message
Seedy
Golden Oldie
Golden Oldie


Joined: Feb 21, 2012
Posts: 6355

Location: Sofia, Dupnitsa, Lincs

PostPosted: Fri Nov 04, 2016 11:15 am 
Post subject:
Reply with quote

400-600 leva used to do it - I can't imagine it's increased dramatically over the past few years. It'll cost you c200 leva a year to have a proper accountant do your "nil return" accounts - less if you want to risk one of the allegedly-qualified book-keepers.

If you start trading then the costs will increase dramatically.

Bear in mind that if you "own" a car through your company then it doesn't actually belong to you personally.... Wink
_________________
Passer sa vie à lutter contre la connerie est le meilleur procédé pour mourir épuisé
  
Back to top
View user's profile Send private message
Moscow_Wolf
Golden Oldie
Golden Oldie


Joined: Apr 07, 2012
Posts: 9119

Location: Near Karnobat

PostPosted: Fri Nov 04, 2016 11:55 am 
Post subject:
Reply with quote

Seedy wrote:
400-600 leva used to do it - I can't imagine it's increased dramatically over the past few years. It'll cost you c200 leva a year to have a proper accountant do your "nil return" accounts - less if you want to risk one of the allegedly-qualified book-keepers.

If you start trading then the costs will increase dramatically.

Bear in mind that if you "own" a car through your company then it doesn't actually belong to you personally.... Wink


I am of the opinion that I set-up my second company far more cheaply than the 400-600 quoted, but I might well be wrong and after all, it is not difficult to do IF you have the language or someone who can help you and knows the routine.

Annual Company returns are another thing that seem to be charged by the ''how long is a piece of string'' method and it pays to shop around and also CHECK on-line that your returns have been submitted and accepted. Someone recently put a link for doing such in another thread and I checked for someone else and discovered that the Company in question hadn't had a Company return accepted since 2009 and that the 2013 & 2014 returns had been rejected by the Tax Authorities as they said the Bookkeeper did not have the authority (Power of Attorney) to submit them. The Company Owner was a little shocked when I confirmed my findings as this person had been paying an agent every year to submit the ''NIL'' returns. This Director has to follow this up now and faces possible fines which may be hefty, but the latter is just my opinion.

I wonder how many other non-Bulgarian speaking or reading Foreigners here in Bulgaria are in the same boat. Idea
  
Back to top
View user's profile Send private message
Sleepy
Matured Member
Matured Member


Joined: Aug 21, 2012
Posts: 734

Location: Sofia

PostPosted: Fri Nov 04, 2016 12:55 pm 
Post subject:
Reply with quote

Just asked the boss and she said cost of setting up Ltd Company is between 500 and 600 lev inculsive of lawyer and state fees.  
Back to top
View user's profile Send private message
Seedy
Golden Oldie
Golden Oldie


Joined: Feb 21, 2012
Posts: 6355

Location: Sofia, Dupnitsa, Lincs

PostPosted: Fri Nov 04, 2016 1:46 pm 
Post subject:
Reply with quote

MW, I believe that the law now requires someone to be properly qualified to make the returns, rather than just Johnny Book-keeper.

Our accountant has no POA and the returns have been accepted and certified for the last 5 or 6 years without a quibble... Wink
_________________
Passer sa vie à lutter contre la connerie est le meilleur procédé pour mourir épuisé
  
Back to top
View user's profile Send private message
Dragonfly
In The Prime
In The Prime


Joined: May 09, 2016
Posts: 267


PostPosted: Fri Nov 04, 2016 2:08 pm 
Post subject:
Reply with quote

Does anybody have any personal recommendations for agents and accountants etc?  
Back to top
View user's profile Send private message
varnaite
All Grown Up
All Grown Up


Joined: Oct 07, 2012
Posts: 150


PostPosted: Fri Nov 04, 2016 2:55 pm 
Post subject: where
Reply with quote

in what area might be helpfull  
Back to top
View user's profile Send private message
ChrisF
In The Prime
In The Prime


Joined: Feb 21, 2012
Posts: 371

Location: VELIKO TARNOVO

PostPosted: Fri Nov 04, 2016 3:00 pm 
Post subject:
Reply with quote

I pay 50 leva per nil return; fully qualified accountant in Veliko Tarnovo  
Back to top
View user's profile Send private message
ChrisF
In The Prime
In The Prime


Joined: Feb 21, 2012
Posts: 371

Location: VELIKO TARNOVO

PostPosted: Fri Nov 04, 2016 3:06 pm 
Post subject:
Reply with quote

Go to www.brra.bg and select the English version, you will see a section on how to register a company. there will be fees to pay, but nothing like 5/600 lev  
Back to top
View user's profile Send private message
Dragonfly
In The Prime
In The Prime


Joined: May 09, 2016
Posts: 267


PostPosted: Fri Nov 04, 2016 5:50 pm 
Post subject: Re: where
Reply with quote

varnaite wrote:
in what area might be helpfull


I'm in lom, but to be honest if I need to travel to Sofia or similar it won't be a problem
  
Back to top
View user's profile Send private message
tumblindown
Golden Oldie
Golden Oldie


Joined: Jan 02, 2014
Posts: 4627


PostPosted: Fri Nov 04, 2016 8:09 pm 
Post subject:
Reply with quote

Brilliant link, except that all te downloaded info is in Bulgarian.  
Back to top
View user's profile Send private message
ChrisF
In The Prime
In The Prime


Joined: Feb 21, 2012
Posts: 371

Location: VELIKO TARNOVO

PostPosted: Fri Nov 04, 2016 9:31 pm 
Post subject:
Reply with quote

You should be able to change to English - top right, small drop- down menu.  
Back to top
View user's profile Send private message
Moscow_Wolf
Golden Oldie
Golden Oldie


Joined: Apr 07, 2012
Posts: 9119

Location: Near Karnobat

PostPosted: Sat Nov 05, 2016 8:40 am 
Post subject:
Reply with quote

Seedy wrote:
MW, I believe that the law now requires someone to be properly qualified to make the returns, rather than just Johnny Book-keeper.

Our accountant has no POA and the returns have been accepted and certified for the last 5 or 6 years without a quibble... Wink


Yes, IF one is in a position to visit both ones' Bookkeeper and Accountant and sign off on their submissions then, I reckon that no POA would be necessary, but for those in absentia then a POA would most probably be necessary. In the case I mentioned in my previous post, the sole Company Director lives nearer to Burgas, doesn't drive, has never met the Bookkeeper/Accountant who is located in some village near to Elhova and was relying on an Estate Agent to arrange these annual returns for which payment was made or, so I am told.

I do not know the exact laws about Bulgarian Company returns, but I do know that in the past I used both a Bookkeeper to complete the forms and an Accountant to file them, but that was in Yambol and I have now transferred my Company registered address to a Lawyer and Accounting firm in Burgas because, as I am now registered as a Farmer, one of my two companies is now active and it is more convenient for me to deal with an office that I do not have to make a special journey in the wrong direction to handover monthly transactions etc.

If a Company is trading then, any set-up and registration costs will be taken in the profit and loss account so it is not money lost as such. Idea
  
Back to top
View user's profile Send private message
tumblindown
Golden Oldie
Golden Oldie


Joined: Jan 02, 2014
Posts: 4627


PostPosted: Sat Nov 05, 2016 11:21 am 
Post subject:
Reply with quote

Chris, it's only the main page that can be translated. The actual instruction downloads are PDF's and Bulgarian only. I'll just take them to a notary and ask for a translation next time I'm down.  
Back to top
View user's profile Send private message
ChrisF
In The Prime
In The Prime


Joined: Feb 21, 2012
Posts: 371

Location: VELIKO TARNOVO

PostPosted: Sat Nov 05, 2016 11:29 am 
Post subject:
Reply with quote

Ah,OK Black mark for them then; they should also be in English but obviously they haven't got round to it yet.  
Back to top
View user's profile Send private message
Display posts from previous:       
Post new topic   Reply to topic    In Bulgaria Forum Index -> Employment & Business Info All times are GMT
 Goto page 1, 2  Next
 Page 1 of 2

 

You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum
You cannot attach files in this forum
You cannot download files in this forum
Jump to:   

Powered by phpBB © 2001-2008 phpBB Group

Lastest InBg Forum Postings - The Serious Stuff   
NEW TAXI SOFIA AIRPORT TO VT ON SUNDAY OCTOBER 21st Posted By:ChrisF @ 05:51:31 PM
Energo-pro Posted By:Tabbul @ 03:34:54 PM
Post Brexit? Will UK follow the Greek example? Posted By:scasparz @ 01:25:14 PM
Sofia Airport to Bus Station Posted By:Seedy @ 11:39:06 AM
House insurance Posted By:tonytg806 @ 06:00:09 PM
Corn/Wheat Grinder Posted By:tonytg806 @ 10:35:54 AM
tax on savings Posted By:tonytg806 @ 08:50:38 PM
How much for private medical insurance? Posted By:tonytg806 @ 05:30:22 PM
English speaking Lawyer near Silistra? Posted By:Seedy @ 08:30:12 PM
Invalid session Posted By:Seedy @ 09:52:26 AM
Water meter readings Posted By:Seedy @ 09:30:28 AM
Hello fromSouth East London Posted By:plevenite @ 08:32:47 AM
NEW Subsidence and cracked walls Posted By:plevenite @ 08:11:43 AM
English Speaking Accountant Recommendation in VT needed. Posted By:ChrisF @ 03:31:14 PM
The bad old days Posted By:Seedy @ 02:20:32 PM
Turkey stuffed? Posted By:Seedy @ 04:52:30 PM
Giant wasps. Posted By:Seedy @ 04:29:36 PM
NEW Children's concerts new season Posted By:plevenite @ 09:34:20 AM
Egg Incubator Posted By:Seedy @ 05:18:19 AM
NEW Feeding the garden Posted By:plevenite @ 10:17:51 AM

Lastest InBg Forum Postings - The Lighter Side   
Who Needs Money For The NHS.... Posted By:tonytg806 @ 06:00:55 PM
Formula 1 Posted By:scasparz @ 03:13:11 PM
Does This.... Posted By:Seedy @ 04:26:15 PM
The "Royle Family" Wedding Posted By:Seedy @ 12:18:47 PM
NEW More "Good" News.... Posted By:Seedy @ 04:47:31 PM
Whats cooking Posted By:Seedy @ 07:35:06 PM
Bad News.... Posted By:Seedy @ 11:11:22 AM
NEW Stand By.... Posted By:Seedy @ 07:37:25 AM
And Some Good News... Posted By:Seedy @ 11:27:01 AM
Baba Vanga Posted By:Seedy @ 10:59:38 AM

The In Bulgaria Free Ads   

In Bulgaria Gallery   
Latest pictures added to the In Bulgaria Gallery. Just click on an image to view a larger version.

Posted By: plevenite

Posted By: Sleepy

Posted By: Sleepy

Posted By: Seedy

Bulgarian Weather   

Click for Sofia, Bulgaria Forecast Click for Plovdiv, Bulgaria Forecast Click for Varna, Bulgaria Forecast Click for Burgas, Bulgaria Forecast


Time  

Currency converter  
Enter Value

Supporters  
Dreams Real Estate Banner



Follow On Twitter  

Ebay Property  

Web design and programming by The IT Place