According to the Bulgarian legislation, all foreign investors who have bought a property in our country as legal entities can have their registered companies legally and administratively serviced in order to observe strictly all laws of the Republic of Bulgaria.

The Bulgarian laws don’t allow foreign investors to own land on the territory of our country as physical persons. However, this doesn’t concern the legal entities with foreign participation, registered in compliance with the Bulgarian legislation. For this reason most investors register a company here in order to realize their intention to purchase a property in Bulgaria. Owning a company in the country is a difficult and responsible process. Difficult because considerable and profound knowledge in the functioning Bulgarian legislation is needed and responsible because the laws of the accounting and tax policy of our country have to be strictly observed. The sanctions imposed for failure or delay to do so are very strict and stern and are always accompanied by tax checks of your company, regardless whether it has been set up only with view of purchasing a property and may not be actively functioning.

By the meaning of the Accounting legislation, each registered company has to strike an annual balance, preparing an annual report which along with the annual tax returns has to be submitted to the local Tax Office not later than 31st March each year. Failure to do so or submitting of a document with false contents is subject to fining, which starts from  2000 BGN(about 1000 EUR).

If the overall accounting servicing of your company has been done incorrectly or the deadlines haven’t been kept, Your company will be subject to considerable fines, enduring the whole severity of the Bulgarian laws and will be checked by the Tax authorities.  Your company is considered functioning from the moment you undertake any reconstruction and repair work on the property you have purchased or if you start renting it out and getting income from rental. This includes the accepting or issuing of invoices, receipts, orders, bank documents, payment of local taxes, paying for the services of a qualified accountant.

If you hire our company to handle the whole accounting and administrative servicing of Your company, we will represent you in front of all institutions of our country.

For companies, registered solely with the purpose of purchasing a property or don’t perform any activities, our company can engage with the preparation of an annual tax report, as well as with the submitting of the annual tax returns to the local Tax Office. If your company is active, we charge a monthly fee which depends on the required services and is subject to additional agreement. For further information, send an enquiry to: info@bulgaria-property-services.com.