Benefits of Professional Accounting in Bulgaria

You may be surprised with the fact that in Bulgaria you can easily find unbeatable accounting services who offer complete support to foreign investors. It is extremely essential for you to choose the professionalism from the pool of service providers as it is no wonder to meet the unprofessional. However those with no skills usually fall after a short time.

So what you can expect to receive from the accounting company, after selecting the correct one for your firm. Here is the brief information on the types of accounting services in Bulgaria you will receive: The documentation will be sent to the provider once a week or month. It is based on the norms of the accounting company and their activity area. Original or copied documents may be sent. Here you must know that the entire documents in any language must be translated into Bulgarian language.

After receiving documents the processing begins which includes entering information in the licensed accounting software for income bills, supplier bills, making and sending VAT ledgers, VAT payment guidelines for bank, making advance corporate tax installment payment instruction for bank, calculation of costs on monthly basis.

If applicable, making and sending intrastate,  filling bank reconciliation in licensed accounting. software on monthly basis and filling for taxes in Bulgaria if applicable. Similarly there are several other services provided by the accounting firms that you stay worry free for the legal procedure and get your company established and run it easily.

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Keeping Better Company

For every entrepreneur who wishes to incorporate and register a company in Bulgaria, they have to take care of a few things. They need to sign and submit a few documents. An affidavit under Article 141 of the Commercial Act, firstly declaring that they are not insolvent or bankrupt, secondly, that.

They have not been in the post of a general manager of a company that was declared insolvent or bankrupt. And last but not the least, that they have not been a manager of a company that had trouble complying with its obligations for establishment under Bulgarian law.

Another affidavit under 142 stating that they will not enter into any commercial transactions without the prior consent of the company or participate in any business venture as a party and/or occupy any managerial position otherwise in any other partnership firms and companies.

And there are a few more documents as well. This where the services of reputable accountants will come in handy so before you open a capital accruing bank account make sure you take proper advice from them. The minimum capital that is prescribed by the law is BGN 2, which is to be paid-in before the company is incorporated.

Get in touch with your accountants in Bulgaria for a detailed process and correct follow up of all formalities. A standard application form is needed to register  Company in Bulgaria and documents such as agreement of association, resolution for appointment and the like are to be attached as well.

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