5000 leva for new company? Now only 2 leva!

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Postby Savina » Thu Mar 10, 2011 12:05 pm

300 lvs is the minimum a lawyer can charge about it in Bulgaria according to the Ordinance on the minimum lawyer's fees...

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Postby Savina » Thu Mar 10, 2011 12:09 pm

Then you have state fees, translation fees, Apostille in UK, etc., etc.

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Postby spantrout » Thu Mar 10, 2011 12:45 pm

300lv = £130 (as of today), my lawyer (as stated, was Dobreva and Boneva) was a qualified translator = no fee, apostille (i have no idea what that is, but if it is power of attorney then that cost me nothing extra, just a signature) and taxes would need to be at least 800lv to get to the lowest number of £500 that you quote.

If my memory serves me correctly I paid 600euro for everything involved with the purchase of my house/land, set up of my company and retaining my company address at my lawyers place of business, now if i'm not mistaken that comes to 1200lv (actually slightly less than), which at todays exchange makes £521

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Postby brianj42 » Thu Mar 10, 2011 1:12 pm

Thats an awful lot Span. Last one I setup 6 months ago was €170 and that included the 2lvs in the bank.

So in answer to the question on this blog, you can open up a bank account for your company setup with 2lvs.

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Postby spantrout » Thu Mar 10, 2011 2:29 pm

i didn't think it was that bad 600euro (and in fairness, there were problems that arose throughout the purchase which were sorted whilst i was in the uk, if they hadn't been sorted it would have cost me a lot more than 600euro to sort out afterwards), the worst bit is that they charge 200euro per year just to park my company address there, which i agree is a lot of money, but if you take that off, then it's 400euro.

i choose to keep my company address there and pay the 200euro cos i've actually spent quite a bit of time with my lawyer on other matters and have never had a bill off of him, so i see it as a retainer/prepaid legal fees and as i previously stated they are recommended by the british embassy and therefore not gonna be the cheapest, but the service is very good

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Postby kazz » Thu Mar 10, 2011 2:36 pm

I wasn't aware that there was a legal requirement to use a lawyer to open a company. If it is this must be a new thing as in the past we've done this through an accountant.
In fact, were we Bulgarian speakers I've an idea we could do it ourselves....

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Postby varnagirl » Thu Mar 10, 2011 5:23 pm

kazz wrote: ln fact, were we Bulgarian speakers I've an idea we could do it ourselves....


your idea is more than an idea..its correct gal..

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Postby haddockman » Thu Mar 10, 2011 6:25 pm

You only really need the notary to complete the paperwork, everything else can be done yourself if you are competent in speaking Bulgarian.

Once you make your first company you can simply reuse the paperwork to make any number of companies thereafter.

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Postby Savina » Mon Mar 14, 2011 3:22 pm

kazz wrote:I wasn't aware that there was a legal requirement to use a lawyer to open a company. If it is this must be a new thing as in the past we've done this through an accountant.
In fact, were we Bulgarian speakers I've an idea we could do it ourselves....


The entry in the Commercial register can be done by the company manager, authorised person or a lawyer. Since ever in Bulgaria the lawyers register copmanies. This was because the set-up of a company was a court procedure.
And yes, I agree, you can manage by yourselves just once you know the language, the required documents and the procedure.

If you do not know the language and the procedure, probably you will seek a professional advice.


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