Company incorporation

@awcarly that's a bit expensive that I have bought two houses in Bulgaria I did the wedge search online you can get a package was a bank card on trading business in Bulgaria and you can get the same package with it all on the if you do a web search online you will get a cheaper package in that and you will get everything the bank card and everything all in one package iPad 390 for an untrained in business it's still the same thing and they thought yeah with a bank card and everything that is really expensive you are paying if you do a Google search for the same thing lords will come up and some of them you don't have to be in Bulgaria to set it up you've got go to the there is embassy now you who deals in Bulgaria take your details to them you sign a contract you send it back to the people on the internet and you will get all the purple work straight away that is really expensive you are paid

you can set an untrade in business up it don't have to be a company it's the same thing and it's a lot cheaper  @awcarly

it's called an untrade in business you can set one enemo and still do all the same thing you don't need a company you just need an untreated business type it in on your Google and I'll tell you you don't need the above one @awcarly

@awcarly if you put a Google on trading businesses it'll come up it's the same thing you are trying to put in for I have got a friend who's got a business any trading and he's told me you don't need one that I want you can do it without

@awcarly you still get tax the same way what they do they're set up an untrading business and in time you can trade on it but you still can do the same things what you are doing for the other thing I am buying houses me on an on trade in business so you need to do a lot of research you can do all the same things on an untreated business

@awcarly

Who did you buy the property with? They should be able to assist you with this. The price you've been quoted is waaaaaay higher than the estate agent I bought my house through charged for my company formation.

Because I didn't set up a power of attorney for them to do it (the need to go to London to get the POA paperwork signed seemed likely to be more hassle than allowing extra time in Bulgaria!) I did have to go to their head office in Veliko Tarnovo to get it done. Arrived in the morning, we did all the paperwork, and late next day the agent confirmed the company had been officially approved. A couple of days in beautiful VT was no hardship at all.

I see they're offering free company formation in their current property ads!

I did google but it has cone up witha  lot of generic companies,  I am wary of assogning POA to just anyone, this is the first property I have purchased abroad. I bought from VIP Bulgarian properties, they have been great and said they can help me with incorporation but as I can only visit for one week in Feb it's not guaranteed it will be finalised in time and I really want to get the property transferred on this visit.. I did think 1400 seemed quite a lot!

It's wise to be choosy who you give POA too, for sure!

A week was all it needed to do the company set up and transfer ownership when I bought, though I did take an overnight flight then the first bus to VT in the morning to arrive early so we could do all the company and bank account set up on my first day there. But the Yambol region might be slower doing things. The bureaucracy does seem to vary from region to region. Also the time it takes getting a bank account set up for the company. It was a long, very busy day with a lot of paperwork!

I hope someone else has used a solicitor or other service for company set-up who can suggest something for you.

@awcarly

Try Bulgarian properties they did mine ..   do you need a company now that we are out of EU to take over ownership if the house ?  I'm updating my own ignorance on this subject by asking that question .. 

And it sounds far to expensive

I'm not sure that another estate agent/service will help with this if I haven't used their services?

Yes, now that we are out of the EU, as a british citizen you need to own a company in Bulgaria for property acquisition.

@janemulberry it is definitely a bit of a minefield that's for sure, I am glad your process seemed to go well, do you live in VT?

@awcarly

Try them...  your buying a service your not getting it for free .. they are the biggest in BG . And are not gonna refuse your money 

@philip Mckay

I have just messaged them and asked, can't hurt to ask right 😁

I am still going in circles for the most part, too wary to use a generic company but I don't want to pay through the nose if I can avoid it 🙈

@an3895509

which company did you use?

What worries me is that you need to give power of attorney and I need to be sure that does not extend beyond just incorporation of the company

Hi,

Happy New Year! All the best for the year to come!

Here is the procedure in short version chronologically:

1.Application to the Bank for opening a special account where the company's capital shall be transferred. Most of Banks charge for this between 50-200 EUR, only one do this for free but it will take about 2-3 weeks.

2.Notary stamped document for the manager - 10 EUR

3.Submitting the documents into the Trade register

4.Transforming the special account into an ordinary bank account.

Most of the items above could be done remotely, but still you have to visit the Bank and the notary office.

Our service fee: 125 EUR for the bank application + 295 to the lawyer + 125 for opening a bank account.

We could do it together when you are in Bulgaria

Warm regards,

Vessela - business consultant

V Consulting Bulgaria

@vessela47

You are an angel! is there a way I can contact you directly?

@awcarly if you click their profile name you'll see an option to message directly.

    @vessela47
You are an angel! is there a way I can contact you directly?
   

    -@awcarly

Click on their name, and you can send them a Private Message.

@awcarly

Yay, looks like you could have an answer to the problem! What @Vessela said is exactly the process the agent's assistant did with me, and for much the same price.

No, I don't live in the VT region, that's just where the estate agent I bought from is based. My house is in Dobrich region. My understanding is that the company doesn't have to be registered in the same region as the property. I could change my company address to Dobrich if I wanted, but I can't see any benefit in doing that at this stage. I won't be using the company for anything apart from owning the property.

I hope it all works out well for you!

I just wanted to update this post:

After meeting with Vessela in Sofia I can honestly say that the whole process was a pleasure, Vessela went out of her way to help me, translated and explained the procedures, prepared the paperwork and helped me hugely, I now successfully own a Bulgarian company and a house in Bulgaria!

Vessela was professional, patient and kind and has a great sense of humour, if you are looking for business consulting services or need a business set up in Sofia I highly reccomend Vessela.