Fiduciary service in Bulgaria
BulgariaCompanyFormations.com also has a range of fiduciary services. These serviced are used by our clients to make sure that their Bulgarian company can benefit in the mot optimal way of the benefits doing business in Bulgaria has to offer.
Having a company registration and a mailbox isn’t enough anymore to be able to move a company and to benefit from a more favourable tax regime. Nowadays the tax treaties have strict requirements about the place of the effective management (the so called management control test) and the actual place where the activities are being exercised (this is called substance).
Who wants to take advantage of the favourable Bulgarian business environment will need to have more than a company and a mail box.
A nominee director is a paper-only director. A local director, who’s only director on paper, because the director has given his powers away through a power of attorney. The person holding the power of attorney can exercise all the management powers and is therefore the effective manager.
Many countries will not accept a nominee director and have amended their tax treaties in such a way that profits will be primarily subject to taxes there where actual exercising the management takes place.
Keep this under consideration before forming a company in Bulgaria.
Management exercised in Bulgaria
As said above, in most cases it’s very important that a Bulgarian company will have its effective management in Bulgaria. This can be realised in several ways:
Do it yourself
You can be the manager of a Bulgarian company without any problem. However, you will need to make sure that you’ll have to be often enough in Bulgaria to show that you are actually performing the management tasks in Bulgaria.
Appoint a Bulgarian director or manager
Anyone who’s not able to exercise the management of a Bulgarian company himself can appoint a local manager or director. This could be a business partner or an employee. Our advisers can assist with finding the right person or partner and can advice about the implications of appointing a manager.
The director service of BulgariaCompanyFormations.com
By using the director service of BulgariaCompanyFormations.com your company will have one of our experienced directors appointed. This service isn’t a nominee director service, this is an active director service. The appointed local director can therefore also contribute to the activities of the company. This way your Bulgarian company will always have a contact person in Bulgaria and a person that can take care of daily management and one that can take initiatives regarding the company’s obligations.
Another benefit is that our professional directors know their way in Bulgaria very well, which is a major advantage to your company.
Strict demands on competence
Only partners of BulgariaCompanyFormations.com are
Uitsluitend partners van BulgariaCompanyFormations.com are allowed to serve as a director of client’s companies. All our partners have at least 10 years of relevant working experience and often follow courses and educational programs to be able to deal with legal, tax and practical changes.
The rights of appointed local directors are set out in an agreement. Our client will decide wh
De bevoegdheden van lokale directeuren worden eveneens van te voren ingekaderd en vastgelegd. U kunt dus altijd verzekerd zijn van een wettelijk correcte bedrijfsvoering van uw Bulgaarse onderneming.
Overigens wordt de director service niet alleen ingezet vanwege fiscale voordelen, maar ook veelvuldig simpelweg om praktische redenen.
Nominee shareholder service
The nominee shareholder is used when a person or company don’t want to be on the public record as a shareholder.
Our Bulgarian nominee shareholder service can be both a corporate entity as a physical person.
Nominee shareholder agreement
For the nominee shareholder service will be drawn up a nominee shareholder agreement. This agreement will have to be signed by all parties. The agreement will contain at least the policies on dividends and voting rights.
Due diligence policies
We are obliged to follow all applicable laws against money laundering and financing of terrorism. For this reason we have a strict compliance procedures before accepting a client and while the business relationship with the client lasts.
Our services are meant for serious and genuine companies and may not be used for any unlawful purpose.
Accuracy and discretion
Of course we are obliged to work accurate and discrete and all information in our hands will be treated with the highest confidentiality.
We’re very happy to give you more information about this subject or another subject on this website. Please contact us with the button below.Contact us