VCC/ДПК, ЕOOD/OOD registration in Bulgaria with a virtual office address. Remote company incorporation.

Company formation and company maintenance services.

1. Company formation in Bulgaria /EOOD, OOD, VCC or other suitable legal entity type/ for client who are new to the Bulgarian corporate environmen , assistance with opening a bank account in a Bulgarian bank, rental and lease agreements and AML compliance;  
2. Ready made company incorporation and remote company registration is a feasible solution with the possibility to use digital bank account, we provide tax compliance  services and representation before all government bodies so clients can operate their companies fully remotely;
3. A new company type /variable capital company or VCC/ДПК  or ЕДПК/ was recently introduced to the Bulgarian corporate structures, allowing fast registration without the need of opening initial capital deposit bank account. A new VCC company  in Bulgaria can be open  only for three days  from any place in the world where the client can visit a  local Notary Public. 
4. The support of a company office where we repressent our clients before the tax authorities in Bulgaria includes mail forwarding, representation before third parties  compliance with VAT filing regulations ;;
5. Keeping your company compliant with Bulgarian laws from its registration to its termination  includes a few accessory services as annual financial reports submission, providing tax certificates and company good standing documents ;
6. Legal services and assistance with preparation of contracts and other legal documents in accordance with the Bulgarian laws.

Important things to note before you start a business in Bulgaria

• Opening a bank account in a Bulgarian bank is not that fast and easy as it used to be a few years ago. Bulgarian banks currently accept clients who  are EU citizens  /respectively companies owned and manages by EU citizens/ and approve bank accounts for corporate entities  only after a thorough assessment of the client background and business activities The Anti-Money Laundering (AML) regulations and procedures are  strictly enforced by all Bulgarian banks  and clients need to be also aware of them to avoid possible miscompliance;
• Becoming a tax resident in Bulgaria may be attractive for digital nomads and company directors who run international businesses. We assist with obtaining A1 certificates,  residence address registration /Bulgarian residence ID/  and representation before tax and migration authorities.
• Nominee director/shareholder services in Bulgaria bear certain risks and it is very important to consult a lawyer with competancy in AML and tax law when planning to utilize the services of a nominee ; 
• Becoming a tax resident of Bulgaria may be attractive for digital nomads and EU citizens who choose to live in Bulgaria or spend time in Bulgaria with relocation of their business. The process of acquiring tax residency for EU nationals  require registration on a Bulgrian address, employment or managing a business from Bulgaria and personal circumstances proving Bulgaria has become the "centre of vital interests" ;

An EOOD /OOD company type overview. 

EOOD/OOD  (ЕООД /ООД in Bulgarian) is the most common limited liability company type and its the Bulgarian version of the LTD/LLC.

•  An EOOD /OOD company type is the Bulgarian verison of a limited company /LLC or LTD./ The first step of the EOOD/OOD incorporation process is to deposit initial company capital in a bank account in a bank. The Bulgarian banks currently approve only residents or EU citizens and require personal presence of the client for an interview. The minumum capital is 1 EUR. After the company registration the capital deposit account may be transformed into a real bank account ;
• The EOOD/OOD transfer of shares require a formal notarized contract, which can be executed remotely by provision of a notarized authorization . A remote EOOD registration is the procedure of transfering the company shares to a new owner who assigns a new director. EOOD/OOD company type is suitable for any type of business regardless of the turnover or investments. The shares registration of this type of company is just the assignment of a portion of the deposited company capital to a shareholder. The company capital can be increased any type directly or the shareholders may provide temporary funding. The temporary funding has a similar purpose with the company capital, however there is no requirement for the temporary funding to be recorded in the company register;
•  EOOD/OOD may have internal corporate conditions that provide specific conditions which the shareholders accept to suit their specific case; 
• This company type allows a company director who is also a shareholder in the company to receive dividend only without being employed in the company;

 A Variable Capital Company type overview

 A variable capital company is a new company type allowing flexibility of company conditions;

•  Unlike OOD, the VCC incorporation does not require a formal initial capital deposit of the company capital in a bank account. The company capital is simply assigned by the company shareholder/owner at the time of the registration. The VCC company type can be registered very easily remotely as the only document that need to be notarized is the consent of the company director; 
• Unlike OOD, the VCC company does not have its shareholders explicitely listed in the company register and due to this reason the compliance with the regulations of the Measures against the money laundering Act require the company director to notarize a declaration of the ultimate UBO of the company and file it in the company register within two weeks after the registration;
• The variable capital company shares transfers can be executed via a plain written contract in case the shareholders accept this condition in the company Articles. This is a very important advantage to the EOOD company in cases when a fast transition of the company shareholder is needed and in cases the transfer of the shares may take place anywhere in the world;
• Probably the only disadvantage of the VCC company compared ot OOD is the restriction of the turnover which must not exceed 2 045 167 EUR per annum. In case this amount is exceeded the VCC must transform into an OOD or a joint stock company;
• VCC company allows various types of company shares i.e. shares with privileges -its advantage is its flexibility as it may have a very simple or a very complex corporate structure meeting the requirements of the specific case;