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
Accounting is one of the most important pillars of any successful business, therefore, we at Aidos, have decided to help you with a guide to important accounting dates to remember.
We always do our best to provide you with outstanding accounting services, but we would not be able to do so without a little help from your end. To make our work flow smooth and hassle-free, we kindly ask you to check our guidelines below and insert our important accounting dates into your business calendar.
On a monthly basis, there are two important accounting dates for you to know about, and basically, only one date to remember and place in your business calendar: 5th of the month!
The monthly accounting deadlines are the most important ones for you to remember, but for your information and convenience, here is a list of the key accounting deadlines in Bulgaria, on a yearly basis. We, at Aidos, will make sure to inform you and remind you of any yearly accounting due dates.
Don’t forget to check our Blog next month, when we will discuss the most important payroll deadlines for your company.
You want to register a company in Bulgaria, but you don’t know what legal form to choose?
Selecting the right company format is an important issue to consider, prior to setting up your business. A proper choice on the legal form can save you money, time, and a lot of hassle.
To make the right decision, we suggest that you take into consideration not only the size and nature of your business, but also all accompanying legal and accounting aspects.
When it comes to small and medium sized business, usually the dilemma lies in the choice between ET (Sole trader) and OOD / EOOD (Ltd). Therefore, in the lines below we will outline the advantages and disadvantages of both legal forms.
ET in Bulgaria stands for a sole proprietorship (sole trader). This is a type of enterprise that is owned and run by one natural person (residing in Bulgaria) and in which there is no legal distinction between the owner and the business entity.
PROS of ET registration:
For a number of commercial activities, such as restaurants or other catering and entertainment venues, paid parking lots, and some types of services, the sole traders pay a patent tax. The tax amount depends on the location of the premises (in some cases – also the size) and the type of patent activity. You might be wondering what is the benefit of this taxation? The answer is that you will not be subject to personal income tax. For sole traders, the tax equals 15% of the profit. With a significant income (but not more than 50,000 BGN per year) and low operational costs, patent tax can be a great option.
The ET closure procedure is easier and quicker.
CONS of ET registration:
Now that we’ve outlined the pros and cons of Bulgarian ET, let’s look at the OOD/ EOOD characteristics.
OOD /EOOD stands for Limited liability company/ Single-member liability company and is one of the most appropriate forms of development for small and medium capital.
PROS of OOD / EOOD registration:
CONS of OOD / EOOD registration:
In conclusion, we will suggest that prior to registering your business in Bulgaria, you evaluate all the pros and cons of ET and OOD in the light of your individual situation. In any case, it would beneficial to consultant an experienced accountant or lawyer, who will guide in the process.
No matter, which legal form of business you choose, you are going to benefit from the:
Should you consider company registration in Bulgaria, you can rely on a professional advice and top-notch service from Aidos BG. Our experienced experts will help you make the right choice and will support through the whole registration process. If you want to learn more, don’t’ hesitate to contact us.
Don’t forget to check our next article, coming in August, when we will discuss the pros and cons of different legal forms for large businesses in Bulgaria. If you want to be sure, you never miss a news from us, feel free to sign up for our monthly newsletter here.