Are you a foreign businessman interested in registering a company and starting a business in Bulgaria? In this case this article is exactly for you. These are the first things you need to consider before you go into action. First, you need to define exactly the following: • The name [...]
Below I would like to summarise major statutory compliance requirements in the accountancy area in Bulgaria: Bulgarian accountancy legislation requires that local companies use statutory established chart of accounts for their accounting records. The statutory chart of accounts provides general accounting categorisation, which may be supplemented with additional sub-accounts (if [...]
Believе or not, but in Bulgaria there are very well qualified and solid experienced companies that provide unbeatable accounting services to foreign investors, comparative only with the services provided by the Big 4 . Of course, like elsewhere, also in Bulgaria there is a chance to fall among unprofessional, but [...]
Currency: Bulgarian Lev (BGN) Foreign exchange control: No, but some reporting requirements apply. Accounting principles/financial statements: Bulgaria applies IFRS as a statutory accounting basis. Only certain entities are entitled to opt to apply the national financial reporting standards for small and medium-sized enterprises. Principal business entities: These are the limited [...]
