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Nothing great in the world was accomplished without passion

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Many people lose the small joys in the hope for the big happiness

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The future is now. It's time to grow up and be strong. Tomorrow may well be too late

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Don´t give up until you drink from a silver cup

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Foreign service providers

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If you’re a foreign service provider established your business in Bulgaria or wish to do so, you know that your financial world is different from the rest of the world. That’s why, at Olsen and Partners, we provide an array of specialized financial services on both a business and an individual level to service providers. Our expertise in working in this specialized area enables us to offer strategies and value-added services designed to help you profitably manage the business side of your practice.

 

Our Financial Services for service providers Include:
• Tax Minimization Strategies;
• Business entity strategies;
• Full accounting and payroll services;
• Financial management (payments, invoices, etc.);
• Structuring and Negotiating Agreements.

• 10% corporate tax;
• 10% individual income flat tax;
• 0 – 5% dividend tax;

 

Yes, that’s true. And this is within European Union. We believe that foreign companies could benefit from the unique mix of advantages Bulgaria has to offer and we are committed in helping with any disadvantages that may arise on the way. Many big European companies and banks have branched out or set up subsidiaries in Bulgaria and are thriving.

 

In addition to the low taxation rates Bulgaria offers:
• Relatively low overhead costs for your company (office rents, utilities, etc.);
• Low labor costs;
• Inexpensive service sector – including accounting and legal services;
• Fast registration process for new companies;
• Less bureaucracy and more freedom for your business;
• Stable banking system – there is no foreign currency risk as the local currency, the Bulgarian Lev (BGN), has a fixed rate to the Euro;
• The common EU system of VAT applies to Bulgaria – the European framework is directly applicable and the directives are fully implemented in the internal legislation;
• Bulgaria has signed agreements to avoid double taxation with 58 countries (including the majority of EU- member states) which prevents withholding tax for most transactions;
• The legal system is based on the continental law;
• Daily flights from/to most of the European capitals and major cities.

 

Many service providers who have established their companies here are providing services worldwide. Using this business model foreign companies generate revenues internationally but pay 10% corporate tax in Bulgaria. Many other foreign investors have made significant investments in Bulgaria taking advantage of the low labor cost, low cost of setting up a new business and low overhead expenses.

 

Bulgaria has a lot to offer. But it’s important to remember that survival is practically almost impossible in the deep ocean of bureaucracy and corrupted administration without any good and trustful local partner. Though it may sound scary, it´s worth the risk.

Olsen and Partners is here to help you – to be your first long-term local partner in the country. We can assist you to create your new Bulgarian company, to initiate your first steps in Bulgaria and to develop your best business strategies. We are here to make your new venture in Bulgaria successful. Contact us today.

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