Bulgaria has emerged as a hot offshore business destination. The European land has much to offer for all types of legal businesses. The economy of the country is growing. It has stable political structure. The banking system is also stable and favourable for corporate. The taxation rate on business profits and personal income is lower.
Setting Up an Offshore Company
A Limited Liability Company can be setup in Bulgaria. For registration of an LTD company, personal presence is not necessary. The company formation can take around 4 weeks. A local address is required for activities.
Bulgaria invites offshore investors to setup a limited partnership company where two or more people can engage to start a venture. Here the liability is distributed which lowers the risks of losing capital.
A branch can be setup in Bulgaria that allows you to perform business activities under your national law. It is not considered a legal entity but is considered for tax purposes. No authorized capital is required to setup a branch.
A representative office can be setup in Bulgaria. Like a branch, it is not a legal entity. Such office cannot conduct business activities. The office is registered with the Bulgarian Chamber of Commerce and Industry.
Under the Corporate Income Tax Act, all companies and partnerships are liable to pay off a tax of 10%. Companies that are non-residents in Bulgaria but operate in Bulgaria through an office, a branch or an agency are considered for taxation on the profits they generate through their Bulgarian establishment. For manufacturing companies, the Bulgarian government gives 100% exemption of the corporate income tax for investment in depressed regions. The country appears as a tax heaven for foreign investors.
Offshore Business Corporation Agencies
The company registration process for LTDs, Stock Companies and representative offices are different. At the same time, it could be time consuming to setup a local office, start an offshore banking and duly start work production. To resolve all types of problems associated with Bulgaria offshore company formation you can take assistance from offshore corporation agencies. They are expert in providing all sorts of services to setup a foreign business in Bulgaria. They make company registration process fast. Assistance is provided to setup a local office in a prime location of the country. Opening a foreign business bank account becomes so easy with an offshore company agency. Paper work and legal supports are also offered. The agency helps to minimize the challenges that you may face to setup a business offshore.