Year-End Closure and Publishing the Financial Statements for 2011

Posted on January 26, 2012 by Ina Zlatkova

It is the beginning of the year and according the Chapter 5 from the Accounting Law every single Bulgarian company is obliged to complete the year end closure and to prepare and publish its financial statements. The deadlines for the above mentioned obligations are the following:
- for the submission of the Annual Tax Returns for 2011 to the National Revenue Agency and to the National Statistic Institute – no… Continue reading »

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Posted in Accounting, Bulgarian Laws in English, Bulgarian Tax Guide, Doing Business in Bulgaria, Questions & Answers, Taxation | Tagged , , , , , , , , |

Joint-Stock Company – Establishment, Rights and Obligations – Part I

Posted on December 8, 2011 by Ina Zlatkova

The joint-stock company is a classic capital trade company in which there is almost a full detachment between the legal entity and the shareholders. For that reason the partners are called shareholders. The capital of the company is divided into equal parts, called shares. The shares are securities which materialize the capital and the participation in the joint-stock company.
The joint-stock company has the following distinguished characteristics:
- It is… Continue reading »

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Posted in Accounting, Bulgarian Laws in English, Consulting, Doing Business in Bulgaria, Incorporation | Tagged , , , , , |

Residence Permits for EU Member States’ Citizens On the Territory of Republic of Bulgaria

Posted on November 29, 2011 by Ina Zlatkova

The regime for residence of EU member states citizens and their families on the territory of Republic of Bulgaria is defined with the Law for entering, residence and leaving the territory of Republic of Bulgaria by citizens of the EU and the members of their families.

An EU citizen is permitted to reside in Bulgaria with an ID card or passport for maximum of three months. If a member… Continue reading »

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Posted in Bulgarian Laws in English, Clients Showcase, Consulting, Doing Business in Bulgaria, Questions & Answers, Taxation | Tagged , , , , , , , , , , |

Obtaining Work Permits by Foreigners When Hired In Bulgaria – Part II

Posted on November 28, 2011 by Ina Zlatkova

The minister of labour and social policy can in some case break the 10% restriction under Art. 71, Para 1, point 2 from the Law on Employment when the exercised by the employer activity is defined as significant for the labour market development and the more jobs opening provision.

A work permit is being issued to a foreigner who has provided evidence that he owns specialized knowledge, skills and… Continue reading »

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Posted in Bulgarian Laws in English, Clients Showcase, Consulting, Doing Business in Bulgaria, Questions & Answers | Tagged , , , , , |

Obtaining Work Permits by Foreigners When Hired In Bulgaria – Part I

Posted on November 24, 2011 by Ina Zlatkova

We will first start with the cases when work permits are not requested. These are the cases when:
- The persons who have permanent residence permit in Republic of Bulgaria or who have status of a refugee or humanitarian status;
- The persons are hired or have been sent to work on the grounds of international contract to which Republic of Bulgaria is a side, in case when there is… Continue reading »

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Posted in Doing Business in Bulgaria, Payroll, Questions & Answers, Taxation | Tagged , , , , , , , , |