The eastern part of the Balkan peninsula that is located in Southeastern Europe is occupied by the country of Bulgaria. The eastern edge of the Balkan Mountains, Romania, Serbia, North Macedonia, Greece, Turkey, and the Black Sea are the countries that border the country that you are looking for. Sofia is both the largest city in Bulgaria and the country’s capital.
Establishing your company in Bulgaria is in your best interest financially because the country has the lowest corporate tax rate in the European Union, it is friendly to your wallet, you can get everything you need for the company in just two weeks, and it gives you access to opportunities for wealth creation in the country. In addition, establishing your company in Bulgaria is in your best interest financially because the country has the lowest personal income tax rate in the European Union.
In Bulgaria, a joint stock company (JSC) can be established by one or more natural or legal persons, regardless of where they are from. It is essential to be aware that the Bulgarian corporate terms and legislation that apply to a firm with local ownership also apply to a joint stock company (JSC) with foreign ownership.
Bulgaria’s commercial law on JSC
This is a traditional form of an entity that is distinct from a limited liability company. The commercial act defines the JSC as a capital entity of a corporate kind, with the capital being divided into equal stocks rather than company shares. Stocks are a form of security that can be freely transferred, and they can be owned by multiple people at the same time.
Since the stocks are owned by multiple persons at the same time and their participation does not need personal activities, those people are required to participate in the management of the JSC or demonstrate some other kind of devotion to the organization. The stockholders have a material form of participation in the operation of the entity, such as capital, which may be monetary or in kind. The partners have no responsibility for the liability of the JSC, and the actions of the company are governed by the Articles of Incorporation.
The participation of the stockholders in the company is the primary characteristic of a JSC. Both a net value and an emission value have been assigned to the stock, and the emission value does not fall below the net value.
The payment of share capital is the initial step in the formation of joint stock companies. Before moving further with the registration process, the stocks comprising the share capital need to be subscribed to in the commercial register.
Bulgaria JSC registration
The Bulgarian commercial register is the body that is in charge of registering firms, including the Joint Stock Company. With a minimum share capital of 50,000 BGN, the required enterprise documents that are required are to be given. To register a joint stock corporation, you will need the following items:
- Name availability and reservation for the JSC in Bulgaria
- Company’s article of association
- A corporate bank account for the minimum share capital
- Registration of business address
- Register for social contribution
Consideration after the JSC incorporation in Bulgaria
After the JSC has been incorporated, it will be necessary to sign up for VAT, get an EORI code from the National Customs Agency, and sign up for accounting and booking services. At the very least once each year, a gathering of a JSC’s board of directors is required to take place in Bulgaria. The process of registering a corporation in Bulgaria is straightforward and can be finished in a few of days (working) days.
