Company Presentation BG Advise Ltd “ The Gateway to Bulgaria ”
<ul><li>Belgo-Bulgarian company, offices in Bulgaria, representation in Belgium. </li></ul><ul><li>Founded in 2009 by 2 Be...
<ul><li>Goals of BG Advise are : </li></ul><ul><li>To advise and assist Belgian entrepreneurs on how to establish a tax-fr...
<ul><li>Why Bulgaria? </li></ul><ul><li>Member of the European Union since 2007.  </li></ul><ul><li>Beneficial fiscal envi...
<ul><li>Why a company in Bulgaria? </li></ul><ul><li>Low tax levels </li></ul><ul><li>Double taxation avoidance agreement ...
Tax levels Tax levels Tax Tax level Remark Corporate tax 10% Personal income tax 10% VAT 20% Dividend tax 5% Other income ...
<ul><li>Company formation process </li></ul><ul><li>Services agreement with BG Advise and appointment of legal representat...
<ul><li>Company formation – services by BG Advise </li></ul><ul><li>Company formation (eventually no need to travel to Bul...
<ul><li>Near-shore software and IT outsourcing services </li></ul><ul><li>Large population of highly trained scientists an...
Available skills set Near-shore software and IT outsourcing services
Contact Info Contact www.bgadvise.eu [email_address]
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BG Advise Ltd

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Gateway to Bulgaria

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BG Advise Ltd

  1. 1. Company Presentation BG Advise Ltd “ The Gateway to Bulgaria ”
  2. 2. <ul><li>Belgo-Bulgarian company, offices in Bulgaria, representation in Belgium. </li></ul><ul><li>Founded in 2009 by 2 Belgian entrepreneurs. </li></ul><ul><li>Main office in Plovdiv (2 nd largest city of Bulgaria). Plovdiv has a rich cultural and historic heritage and is now an important commercial, cultural, communications and tourist centre. </li></ul>Company Presentation
  3. 3. <ul><li>Goals of BG Advise are : </li></ul><ul><li>To advise and assist Belgian entrepreneurs on how to establish a tax-friendly Bulgarian legal entity and to comply with the statutory and legal obligations of the Bulgarian company legislation (such as VAT filing, invoices handling,…). </li></ul><ul><li>To offer high-quality IT and software development services at the best cost-effective conditions available in the East-European near-shore software development markets. </li></ul>Mission = “The Gateway to Bulgaria”
  4. 4. <ul><li>Why Bulgaria? </li></ul><ul><li>Member of the European Union since 2007. </li></ul><ul><li>Beneficial fiscal environment: </li></ul><ul><ul><li>Corporate and personal income tax: 10% flat </li></ul></ul><ul><ul><li>Dividend tax: 5% </li></ul></ul><ul><li>Social security only to be applied on the first part of about 1000 euro of salary </li></ul>Why Bulgaria?
  5. 5. <ul><li>Why a company in Bulgaria? </li></ul><ul><li>Low tax levels </li></ul><ul><li>Double taxation avoidance agreement with Belgium </li></ul><ul><li>National currency is fixed to the Euro; 1 BGN = 0,51 Euro </li></ul><ul><li>Strategically located on the routes of major trade flows. </li></ul><ul><li>Abundance of industrial zones. </li></ul><ul><li>Highly educated work force, accepting change and competitively remunerated. </li></ul><ul><li>Proximity to the European market’s core economies. </li></ul><ul><li>Easy direct flight connections from Brussels, Eindhoven and Charleroi to and from the capital Sofia. </li></ul><ul><li>A way to reduce your costs through relocating key personnel as the personal taxes are fixed at the flat level of 10% for all income brackets. </li></ul><ul><li>Affordable real estate investment opportunities (more info available on request) </li></ul><ul><li>Employee salary levels: </li></ul><ul><ul><li>Average salary: +/- 500 BGN (256 euros) </li></ul></ul><ul><ul><li>Minimum salary: +/- 220 BGN (112 euros) </li></ul></ul><ul><li>  Stable political regime </li></ul>Company formation
  6. 6. Tax levels Tax levels Tax Tax level Remark Corporate tax 10% Personal income tax 10% VAT 20% Dividend tax 5% Other income distribution tax 5% Social security – employer contribution 18% Social security – employee contribution 13% Limited to 2000 BGN (~ 1000 euro)
  7. 7. <ul><li>Company formation process </li></ul><ul><li>Services agreement with BG Advise and appointment of legal representatives. </li></ul><ul><li>Preparation of the required documents by BG Advise. Bulgarian company address can be registered on BG Advise corporate address. </li></ul><ul><li>Drafting of “Act of Creation” and the company statutes </li></ul><ul><ul><li>Name validity check </li></ul></ul><ul><ul><li>Drafting by specialised Bulgarian lawyer </li></ul></ul><ul><ul><li>Translation (BU  Eng; BU  NL/FR) by a sworn translator. </li></ul></ul><ul><li>Opening of a company bank account </li></ul><ul><ul><li>needs to be done by a legal representative of the client. </li></ul></ul><ul><li>Registration at the Bulgarian Commercial Register, registration at BulStat and publication in the official Bulgarian government paper. </li></ul><ul><li>Application for the VAT registration </li></ul><ul><li>BG Advise will apply for the VAT registration </li></ul><ul><ul><li>letter of authorisation to the accountant for the monthly VAT handling is required. </li></ul></ul><ul><li>Opening of company bank account </li></ul>Company formation
  8. 8. <ul><li>Company formation – services by BG Advise </li></ul><ul><li>Company formation (eventually no need to travel to Bulgaria) </li></ul><ul><li>VAT filing (required on monthly base) </li></ul><ul><li>Annual report </li></ul><ul><li>Standard accountancy </li></ul><ul><li>Secretarial services (phone, bill preparation,...) </li></ul><ul><li>Company housing. </li></ul>Company formation – Services by BG Advise
  9. 9. <ul><li>Near-shore software and IT outsourcing services </li></ul><ul><li>Large population of highly trained scientists and engineers: - over 100 institutions of higher learning - 29 universities and high schools offering education in computer sciences, information technology and mathematics. </li></ul><ul><li>Approximately 6500 students graduate from Bulgaria’s institutes and universities annually in disciplines that enable them to become software professionals. </li></ul><ul><li>Presence in Bulgaria of some major global players like SAP, Microsoft, Software AG, VMWare, HP, Cisco and many others. </li></ul>Near-shore software and IT outsourcing services
  10. 10. Available skills set Near-shore software and IT outsourcing services
  11. 11. Contact Info Contact www.bgadvise.eu [email_address]

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