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Better to dissolve a company or sell

Discussion forum for expats moving to or living in Bulgaria.

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Better to dissolve a company or sell

Post Posted: Thu May 19, 2016 6:20 pm

Hi,

I have a house for sale in South Bulgaria. (if anyone is interested see houseinbulgariasale.bl...ot.co.uk/) This house is owned by an ltd company that is dormant. The company has no other assets.

Is it better to dissolve the company first or to sell the house first? Are people buying companies in Bulgaria too? Maybe it will be possible to sell the house and company together for the value of the house.

What would you recommend?

 

baka
Newbie
Newbie
 
 
  
Re: Better to dissolve a company or sell

Post Posted: Thu Jun 02, 2016 8:55 pm

Hi,

I checked the link - not bad, could be fixed for country tourism ...

There are quite a few issues to be clarified before you take the right decision. First, when you say the property is owned by a local Bulgarian company - is it included in the registered capital via its monetary value or it is simply owned by the company as an asset.

Also, what sale price are you expecting to receive - higher or lower that the initial purchase price?

Have all taxes for the house been paid ?

By all means you do not dissolve the company first:) Either you sell the shares of the company (and thus the house as one of the company's assets or as a part of the company's capital) or you first sell the house and then dissolve the company.

Best regards,

Ventsislav Tanev, SMTLegal

 

SMTLegal
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Newbie
 
 
  
Re: Better to dissolve a company or sell

Post Posted: Tue Jun 07, 2016 12:55 pm

Before you can dissolve your company you need to sell the house (and any other assets). Then you can close down the company. It costs anywhere between 700 and 2000 levs depending which lawyer you instruct and takes 6 months for final decision.

Or yes you can try selling the company has going concern with the house, although as a buyer this is more risky as could be debts associated with company and many do not want the hassle of a company. This could of course change if the UK leaves the EU.


_________________

Advice on buying and living in Bulgaria, all about life here and daily adventures - www.thetravelbug.org

Bulgarian stray dog charity - twitchynoses.org

 

travelbug
Forum Leader - France and Bulgaria
Forum Leader - France and Bulgaria
 
 
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