Purchasing a Bulgarian company
Purchasing a Bulgarian CompanyUpdated on Friday 07th February 2020
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In order to avoid the long waiting time between company registration and the actual start of activities in Bulgaria, you can opt to buy a ready-made company which already passed all the procedures of registration from depositing the minimum share capital, drafting the company’s articles of association to the actual registration at the Bulgarian Trade Register and registration for VAT. Usually a registration term for a newly formed Bulgarian company can be even bigger than eighteen working days which can be considered enormous for your business.
This is why we advise you to opt for these ready-made companies. Besides the small amounts of incorporation, it can give you prestige(if you chose a company already present on the market) or speed on beginning the transactions, depending on the profile of your company.
Types of ready-made companies
There are two types of shelf companies in Bulgaria: companies with history and companies without history and their purchase depend on your need for the moment.
Ready-made companies (or shelf companies) in Bulgaria are a good solution where for specific reasons you need to have a company with history registered in the Bulgarian commercial register.
Many former owners of these ready-made companies prefer to sell them instead of liquidate them. The liquidation is not considered a valid solution as it can take up to 8 months and it is associated with higher costs and fees.
Other companies are specially made for this type of purchase with no transactions and no history behind it. These are especially created in order to speed the process of registration of a newly established business. For instance a readymade company can start the trade 24 h after it was purchased.
Usually the purchase of any of the above types of shelf companies consists in signing a share transfer agreement which will have as an effect the transfer of the shareholding and management control to you immediately. You can change the name of the company with a new one, depending on your wish. Also the address may be changed and in certain cases a virtual office can be offered in order to perform all the activities until a new office is ready or if it is not necessary to have a dedicated one.
Our lawyers can offer you all the support required for checking the availability of the ready-made companies in Bulgaria, operating the specific documents necessary for the purchase and making sure that the involved company don’t have any outstanding liability. We can also provide post-purchase counseling on the specia permits and licenses that may be required as well as subsequent registrations, for example, the EORI registration.
Also they can give you advise on the type of ready-made company proper for your interests and for your best development of your business in Bulgaria.