Bulgarian banks (with few exceptions) pay no interest on deposits Once a centre of high-interest deposit accounts, Bulgaria is now what Switzerland was 20 years ago – zero interest rates on bank deposits in all major banks. Many foreigners are baffled as to why Bulgarian banks seem not to wantContinue Reading
Or why you should be careful, really careful of who you assign to be your liquidator In Bulgaria, when the owner of a company decides to dissolve it, a special liquidation procedure must be initiated. This is the same in most EU jurisdiction by the way. At the start ofContinue Reading
EU citizenship – nothing compares to you Passports come in all forms and shapes. There are many passport rankings, trying to determine which are the “strongest” passports in the world. All these rankings however only take into consideration the number of countries one can visit visa-free. The passport of SingaporeContinue Reading
Or why you should NOT trust an “international lawyer/consultant” in Bulgaria DISCLAIMER: The story, all names, characters, and incidents portrayed in this article are fictitious. No identification with actual persons (living or deceased), places, buildings, and products is intended or should be inferred. This is a story that once againContinue Reading
Is it possible for a foreigner to open bank account in Bulgaria in 2023? During the past few years ,we have been reporting many problems with opening of bank accounts for foreigners in Bulgaria. In many cases, foreign bank accounts in Bulgaria have been even frozen, to the horror ofContinue Reading
The NEXO scandal brings bad news for the “regular tax dodgers” The people in Bulgaria are very well aware of the scandal that unveiled in recent weeks with the crypto platform Nexo. For those who are not aware of what happened though, as reported by Reuters, four Bulgarian nationals haveContinue Reading
Does a Bulgarian company need to invoice and pay VAT when it is providing services to a company registered in Switzerland? Many of our clients are providing service to Swiss companies. And they are often confused as to whether they should invoice VAT (value added tax) to these services. TheContinue Reading
Tax evasion in Bulgaria and criminal responsibility Bulgaria enjoys the lowest EU flat tax rate of only 10%. But as is often the case, the coin has two sides. The dark side of the Bulgarian legislation is the ultra low level of tax evasion that triggers criminal responsibility. Anyone whoContinue Reading
Doing business in Bulgaria Israelis are good in doing business. And Bulgaria is the best EU country for Israelis to do business in. But in Bulgaria, one needs solid legal support and local knowledge to make things happen. And to make them happen fast. טובים השנים מן האחד We provideContinue Reading
