Accountants Bulgaria: Who is Aidos?

Welcome to the website of Aidos – Accountants Bulgaria. We are a company dealing with the administration part of your business. Our services include: bookkeeping & accounting, payroll, VAT and tax preparation and company registrations.

We choose our website to be in a weblog format. In this way we are aiming to create a continuously refreshing and growing knowledge base. Below here you’ll find posts on topics related with doing business in Bulgaria, changes in the law, introductions of our clients and more, what we think may be of interest for you. By following the links in the right hand menu you can find more information about us, our services, or on specific subjects. When you feel something is missing just let us know and we will add it.

When you cannot find here what you are looking for, don’t hesitate to contact us.

Thanks for visiting us here!

The Aidos team

Aidos Accountants Bulgaria

 

Bulgaria Ups Its Minimum Wage to BGN 270

Starting Thursday, the minimum monthly wage in Bulgaria grows from BGN 240 to BGN 270 (EUR 137).

According to the country’s Finance Minister Simeon Djankov, the minimum wage rise will cost its state budget approximately BGN 15 – 20 M. However, the private sector’s expenses will be much higher, the Dnevnik daily points out.

Some 120 000 Bulgarians officially receive minimum wage in Bulgaria, according to the country’s National Statistical Institute. A total of 20 000 of them are on a state payroll.

Also starting Thursday, the retirement allowances for widows and widowers in Bulgaria increase from 20% of the deceased spouse to 26.5%.

According to a recent study conducted in the Sofia-based University of National and World Economy Bulgaria will need 41 years to reach the minimum wage rates of EU’s most advanced countries.

Currently, the minimum wage in the country is nearly half of the amount of money deemed by the National Statistical Institute as necessary for an individual to survive a month in “normal” conditions.

source: novinite.com

Re-registration Companies Bulgaria

Re-registration

re-registration
The issue of Re-registration for companies in Bulgaria is still pending. At the end of 2010 the deadline was set at December 31, 2011.

Re-registration is obligatory for all companies registered before January 1st 2008.

Not fulfilling this obligation will lead to liquidation of the company. The company-owner will be held responsible for all expenses made concerning the liquidation.

After re-registration the financial reports over the 3 previous years have to be published at the Trade Register/Търговски регистър within 3 months after re-registration.

Ask your lawyer or accountant about the current status of your company or contact us when you have any further questions.

Company formation Bulgaria

Updated information on company formation in Bulgaria you can find here: Starting business in Bulgaria


Company formation Bulgaria

Company formation Bulgaria

The most common model for setting up a company is the Limited Liability Company (Ltd.). In Bulgaria there are two forms of Ltd.;

  • Single owner Ltd. (EOOD)
  • Multiple owner Ltd. (OOD)

Owners – natural persons or companies.
Capital the minimum capital to be deposited is currently 1 Euro.
Timeframe – the procedure takes currently about 20 days.

The new company owners have to be physically present to open a bank account and deposit the capital. And sign the incorporation documents and a power of attorney in front of a notary. This will take no more than 3 hours.

We can help with;

  • Preparing all necessary documentation in Bulgarian and English
  • Organize the meetings at the bank and notary.
  • File the documents at the Registry Agency.
  • Order a company stamp.
  • Collect the company documents when ready.

The procedures for all company forms can also be found at the website of the Bulgarian Trade Register – http://www.brra.bg/ (in Bulgarian)