How to check your Bulgarian company registration: a simple procedure

Have you decided to register a company in Bulgaria? There are many good reasons to do so, but what everybody talks about is the tax system that charges a 10 percent rate on all company profits after deductions. 

What is more, there are no complicated tax rules, no prepayments necessary in most cases, no restrictions to who can register a company, or impositions like living in the country, etc. The tax system in Bulgaria is clear, simple, and straightforward.

Additionally, Bulgaria company registry search is easy to do. Checking the status of your Bulgarian company registration takes little time. 

In this article, we will explain how to check your Bulgarian company registration step by step, as well as how to use the Bulgaria business directory.

Check the status of your Bulgarian company registration

Have you already set up a company in Bulgaria? If so, now it’s time to run a Bulgaria company check. This is a simple procedure. 

While your company is being created, the notary or lawyers that deal with the process will keep you informed of the development of the registration. It usually takes very little time to set up and register a company in Bulgaria (about 3 to 5 working days). One of the steps to create a Bulgarian corporation includes registration in a Government Official Registry. 

A Bulgaria company registration search is easy to perform, as businesses are registered in an official commercial register that is available online and allows the public to search for a company by name or by other parameters. This is known as Bulgaria Business Directory.

The website of the official Bulgaria business registry, while it can be seen in English, requires Cyrillic for the Bulgaria company search. Using Google Translator may be a good option for those not familiar with the language.

There are some unofficial websites that offer the same options to search companies in Bulgaria but have translated the information into English, making it simpler to find what you may be looking for. 

However, if you need any support to check the Bulgarian company register, you can rely on specialised Bulgarian accountants in Sofia like Accountancy Bulgaria agency. We provide all the accounting services you may need to run your company in Bulgaria properly and we can assist you in every step of your company registration process.

Benefits of Bulgarian Company Registration

Out of what we have already stated, some benefits are obvious. Not for nothing, Bulgaria is considered a European Tax Haven nowadays. And this is likely to remain the case for many years to come still, as the government is committed to promoting the creation of local companies, as well as presenting itself as inviting to foreign companies. 

These are the main benefits of company registration in Bulgaria:

·      Flat rate of 10% taxes on net profit;

·      Bulgaria belongs to the European Union, making banking and legal procedures easier and less complex;

·      As part of the EU, companies in Bulgaria are also eligible for incentives and other legislations that apply to other European countries;

·      Commitment from the government to the continuation of programs and plans that promote the implementation of profitable companies and business activities;

·      Simple and fast corporation registration procedures;

·      Attractive incentives for foreign companies (especially in certain business activities);

There is no doubt that registering a company in Bulgaria has benefits that go beyond the lower tax rate and simple system that businesses find so attractive. 

The procedures for a Bulgaria business search is simple. The Registry is public, and you may see all your company information with just a few clicks.

Read also: Looking to move your company to Bulgaria? All you need to know.

What is the corporate tax in Bulgaria?

After company registration in Bulgaria, the corporation only must pay 10% of taxes. This is a flat rate. No loopholes, no complex tax schemes, and no extra hidden costs.

The profit is calculated by the earnings the company has generated minus any corporation costs. As in many other countries, any business expenses are deductible, meaning you are only taxable on your net profit. 

The total due taxes for a company are calculated for the year and are due to be paid by the end of June of the following year. It is not necessary to prepay your taxes, except if the company’s profit is over EUR 150.000. If this is the case, the tax system requires 80% of the total taxes to be paid by December 31^st. 

Need some help with accountancy and company bureaucracy? Hiring a financial advisor in Bulgaria is your best choice. Discover all Accountancy Bulgaria services.