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LIQUIDATION OF COMPANY?

Discussion forum for expats moving to or living in Bulgaria.

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LIQUIDATION OF COMPANY?

Post Posted: Wed Jun 13, 2012 2:47 am

HAS ANYONE DONE THIS YET? . I am english property owner of 2 properties in Dobrich region I would like to write the house on my name and liquidate my company. Please reply if you can put me in touch with a GOOD lawyer and approximate cost involved... Thank you

 

joan
Regular Poster
Regular Poster
 
 
  
Re: LIQUIDATION OF COMPANY?

Post Posted: Thu Jun 14, 2012 12:52 am

Hi Joan

As far as I know, and I hope someone will either confirm this or correct, but as a non Bulgarian, you cannot own land in BG as yet, only a company can. So you can only own land indirectly as such.
If of course you own apartments with no land then you do not need a company

I hope this is of some help

Mike


_________________

well I can say I found my place "nirvarna" (near Varna)

 

jjmmdd
Forum Leader - Bulgaria
Forum Leader - Bulgaria
 
 
  
Re: LIQUIDATION OF COMPANY?

Post Posted: Mon Jun 25, 2012 9:13 am

Hi. joan.


I have.house in my personal name. and the land its on is in my company name. so its
Split.

to liqidate a solvent company. you need accountant.

gd one is. dobreva and boneva in varna.

google for contact details.

have u b in bg long?

i have land also kamen braig. on sea front.

1000 sqm. for sale. im from uk also.

Br

David Smile

 

laly
Newbie
Newbie
 
 
  
Re: LIQUIDATION OF COMPANY?

Post Posted: Mon Jun 25, 2012 9:19 am

Hi. joan.


I have.house in my personal name. and the land its on is in my company name. so its
Split.

to liqidate a solvent company. you need accountant.

gd one is. dobreva and boneva in varna.

google for contact details.

have u b in bg long?

i have land also kamen braig. on sea front.

1000 sqm. for sale. im from uk also.

Br

David Smile

 

laly
Newbie
Newbie
 
 
  
Re: LIQUIDATION OF COMPANY?

Post Posted: Mon Jun 25, 2012 7:34 pm

You now do NOT need a company to own land (except certain grades of agricultural and woodland) in Bulgaria. The law changed as of the beginning of the year for EU citizens.

In order to liquidate your company you need to get rid of any assets the company owns - i.e. you need to sell your houses to either yourself or a third party. This is similar to selling at any point and will involved notary fees and taxes. I understand the tax is 10% of the difference in value between when you bought and now - if you have renovated your house this will be substantial or if you had a lower amount put on your notary deed.

After you have got rid of all assets you can begin the long 6 month process to close down the company. Quotes I have received range from 500 to 1000 Euros to do this part alone.

You need to really think whether it is worth it for the sake of spending maybe 100 levs a year on accountancy fees for the nil tax return for your company.


_________________

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
 
 
  
Re: LIQUIDATION OF COMPANY?

Post Posted: Tue Jun 26, 2012 12:28 am

THANKS EVERYONE FOR YOUR REPLIES...WHAT I AM PAYING AT THE MOMENT IS
TAX RETURNS END OF MARCH - £65 AND THEN FINANCIAL RETURNS END OF JUNE £75
I AM DESPERATELY TRYING TO SELL THE PROPERTIES I HAVE - FORTUNATELY I HAVE
NOT SPENT ANY MONIES ON THEM - SO IF I WERE TO LIQUIDATE I WOULD NOT BE LIABLE
TO PAY MUCH MORE!!! SO IT SEEMS (ESPECIALLY AS THE PROPERTY MARKET IS STILL
VERY SLOW) WOULD BE TO DO WHAT IS SUGGESTED IN THE REPLIES!!!!

 

joan
Regular Poster
Regular Poster
 
 
  
Re: LIQUIDATION OF COMPANY?

Post Posted: Tue Jun 26, 2012 12:59 am

Hi joan,

i sold 2 of my poropertys to russian and ukraine buyers.

used site called. www.click2sell.biz

just put your add there. and video aswell.

they put your add in nine languages includ russian.

and thats how we reached eussian buyers market!

very cheap as well. 99 euro for year.

weve put 2 more our props on there.

br

David

 

laly
Newbie
Newbie
 
 
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