Incorporation of a new Limited Liability Company (LTD/LLC)
ITAP's specialists will form your new limited liability company (LTD, LLC, etc) according to your requirements and strictly as per Bulgarian laws and the applying EU standards. The formation service includes all the necessary additional formalities so that the company is ready to trade.
The minimum required equity capital by law is now only 2 BGN (about 1 EUR), down from 5000 BGN some years ago. We do however advice our customers to choose appropriate seed capital amount rather than opting for the absolute minimum. There are many reasons for that, which we will explain during the company incorporation process.
You can choose any name for your business if it is available. We will check the name availability immediately as we do have access to the electronic state company register data.
It normally takes up to ten days to form a new company in Bulgaria. As the formation process requires notary certification, the process can vary in both direction and in urgent cases, we are able to shorten the process significantly.
A Bulgarian limited company may have either multiple or a single shareholder, who may also be its sole director. The shareholder and the director may also differ, as per the incorporator's wish. It is important to know, that unlike in some other countries, the manager of the company (if he is non EU national) does not need work permit for Bulgaria.
The company may be registered anywhere in Bulgaria, however we strongly recommend domiciliation in the Capital Sofia. The company's management address may differ from the registered address.
As the name implies, Bulgarian Limited Liability Company separates the liability it may inherit from the liability of its shareholders - in other words, it is the best capital protection vehicle and can be used for both trading and capital preservation.
Probably the main advantage of Bulgarian companies to other EU entities is the rock bottom corporate tax rate in Bulgaria, which is 10% - the lowest in EU. Ongoing administration is also very easy, straightforward and affordable.
Contact us now to order your Bulgarian Limited Liability company formation and benefit from the lowest (10%) flat tax rate in the EU.
Bulgarian NGO - Foundations
Forming a non-governmental organization (NGO), or foundation, is especially beneficial when the ultimate beneficial ownership of a company or business, including investment assets needs to be structured in a neat and orderly fashion. The functioning of foundations in Bulgaria is governed by a thorough and far-reaching statutory act. We can provide professionals to act as some or all of the governors under trust, providing all legal conditions are being met. The founder(s) of the foundation can be any person or entity. The beneficiaries can be either explicitly named persons or people that meet certain criteria or decided by the board. In all cases the structure can be fine-tuned to meet your needs, requirements and ultimate objectives. This structure can be used for both temporary and permanent needs and survive generations intact. The foundations, under the current Bulgarian legislations can be in public or private interest. Please contact us for professional advice and in depth discussion on the different options.
Ready made Shelf Companies
Some of our ready made companies have never traded before while others have a long trading history under the belt. The choice is yours - you may need a brand new company registered recently or an active and established entity with some trading history, references and established business. Whatever your choice is, you can start using your purchased Bulgarian company within a day or two from signing of the share transfer agreement. To protect our customer's interests and to comply with the legal regulations, we will arrange the notary legalization of all share transfers.
Nominee Shareholders & Directors
Provided a number of legal conditions are being met, we may be able to provide nominee director and shareholder services. They are based on well drafted thorough trust agreements and special director service agreements to protect all parties' interests. After becoming familiar with your business we will make you an offer. We also need to assess our work loads and responsibilities for the nominee services as well as the scope of our involvement. For extra security joint signing rights may be ascertained to different directors. Pre-approval of actions instruction mechanism can be introduced in the trust agreement. In general we employ the best global practices of the trust services industry. Should you or your legal advisers have special requirements we will be very committed to take them into account. We must stress that we will never provide nominee services for any illegal activities.