Many foreigners open companies in Bulgaria – OOD or EOOD. Sometimes it is necessary for doing business. More often, a company is opened to buy land or a car – this is an easy way to circumvent the Bulgarian law, according to which foreign citizens cannot buy land. The company is not obliged to operate, but once a year it must report on its activities (or lack thereof). Previously, you had to pay an accountant for the preparation of such reports. Since 2018, the procedure has been simplified, and now the owners of firms that do not operate can submit zero reports on their own and free of charge, and the filing of a tax return for them has been canceled altogether. The absence of the company's activity in the past year means the complete absence of any business transactions and account movements. The manager of the company must submit two reports – to the Statistics (NSI) and the Trade Register (TR). This must be done by March 31.

Submission of a report to the National Statistical Institute

The declaration to the NSI is submitted through the information system online or in person – for this, the manager must come to the regional office, taking with him a document certifying the right to stay in Bulgaria, and the company's UIC number. In the reference data, you need to fill out two declaration forms. They can be downloaded in advance on the website Statistical Institute and fill it out at home, and then bring it to the department. Instead of one of the declaration forms, a small receipt with an incoming number is issued. All this is completely free. Filling out is usually not difficult: you need to enter the UIC and the name of the company, as well as your data (name, surname, LNP or EGN), put the date and signature. You will need to put a tick next to the statement "did not conduct business activity within the meaning of the Accountancy Act" (as well as select the form of ownership ("private on a foreign person"). Those who have an electronic signature can submit the report online without visiting the reference data in person. It is also possible to send the declaration by mail.

Submission of the report to the Trade Register

The second copy must be taken to the Commercial Register. There you will need to fill out the "Application for the announcement for the year of financial statements", Form G3, in duplicate. One of them remains in the Trade Register and the other is returned to the applicant with a stamp. In this case, you also do not need to pay for anything. Holders of an Electronic Signature (Electronic Signature) can also apply online without visiting the Trade Register. Failure to submit reports or their late submission is punishable by fines of up to BGN 3000. For this reason, it is worth taking responsibility for your obligation to submit reports and, if possible, take care of the paperwork in advance, without postponing visits to the reference data and TR until the last moment. Our specialists can provide remote assistance in the preparation and submission of the necessary annual reports. Price of the service.