Your question: What does EOOD stand for in Bulgaria?

How do I start a business in Bulgaria?

Steps in opening a company in Bulgaria

  1. Choose, verify and reserve the business name for your OOD in Bulgaria.
  2. Appoint the representative agent for your company in Bulgaria.
  3. Deposit the minimum share capital of 2 BGN in a local bank account.
  4. Prepare and submit the Articles of Association for your company in Bulgaria.

Is Bulgaria a tax haven?

Bulgaria. Bulgaria has the lowest personal and corporate tax rates within the European Union (Andorra isn’t a member), both of which are a flat rate of 10%. … The country has low corporate tax rates, low operational costs, and (if the company has employees) lower labor costs than in other EU countries.

How much tax do you pay in Bulgaria?

Tax rate for Bulgarians is 10% regardless of their income and whether they live and work in Bulgaria or abroad. Self-employment income is also charged with 10% tax. Non-resident individuals are taxed only on their income from sources in Bulgaria. The tax rate is 10%.

What is ITD?

Inception-to-date (ITD) balances represent the total activity, both actual and budgeted, that has occurred since the start of a project. The ITD is most commonly used for contract and grant management and reporting, but is also used for capital projects.

Do they speak English in Bulgaria?

A number of foreign languages are spoken in Bulgaria. Russian is the most commonly spoken foreign language in the country. 35% of the country’s population claim to possess a workable knowledge of this language. English is the second most common foreign language in Bulgaria.

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