[size=50:1kw0avdv]Source Questbg 5 May 2013

Closing Down a Limited Company in Bulgaria
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Closing down a limited company here in Bulgaria is becoming a hot topic of discussion on may forums for expats.

As most of us are fully aware, it used to be a legal requirement set out by the Bulgarian government that in order for foreigners to purchase land with or without a property on it, they would first need to have a LTD company in order to do so. This has meant that every LTD company must submit a yearly tax return whether or not the company is actively trading or not.

The yearly costs accountants in Bulgaria charge for such work have been the subject of much debate over the years. Prices have been seen to vary from under BGN 100 to a scandalous BGN 1000 and more. Recent changes in the law have now removed the need to own a company to purchase land and property. So where does this leave all those who still have a registered company and don't now want it? Closing down a limited company has also exhibited a wide range of fees with prices as high as BGN 2000 not uncommon.

What's the answer?

Quest Bulgaria have been working in collaboration with our legal partners to work out an effective and affordable way of closing Bulgarian LTD companies at a cost of just BGN 300. The process can take up to 7 months in some cases due to the many searches and audits required by Bulgarian law but after that time has passed the company will no longer exist, meaning that yearly tax returns are a thing of the past.

Please contact us if you would like to know more about closing down a limited company in Bulgaria and how we can help you with it.

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