bg advise ltd
DESCRIPTION
Gateway to BulgariaTRANSCRIPT
BG Advise Ltd – www.bgadvise.eu 1
Company Presentation
BG Advise Ltd
“The Gateway to Bulgaria”
BG Advise Ltd – www.bgadvise.eu 2
Company Presentation
• Belgo-Bulgarian company, offices in Bulgaria, representation in Belgium.
• Founded in 2009 by 2 Belgian entrepreneurs.
• Main office in Plovdiv (2nd largest city of Bulgaria).Plovdiv has a rich cultural and historic heritage and is now an important commercial, cultural, communications and tourist centre.
BG Advise Ltd – www.bgadvise.eu 3
Goals of BG Advise are:
• To advise and assist Belgian entrepreneurs on how to establish a tax-friendly Bulgarian legal entity and to comply with the statutory and legal obligations of the Bulgarian company legislation (such as VAT filing, invoices handling,…).
• To offer high-quality IT and software development services at the best cost-effective conditions available in the East-European near-shore software development markets.
Mission = “The Gateway to Bulgaria”
BG Advise Ltd – www.bgadvise.eu 4
Why Bulgaria?
• Member of the European Union since 2007.
• Beneficial fiscal environment:
– Corporate and personal income tax: 10% flat
– Dividend tax: 5%
• Social security only to be applied on the first part of about 1000 euro of salary
Why Bulgaria?
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Why a company in Bulgaria?• Low tax levels• Double taxation avoidance agreement with Belgium• National currency is fixed to the Euro; 1 BGN = 0,51 Euro• Strategically located on the routes of major trade flows.• Abundance of industrial zones.• Highly educated work force, accepting change and competitively remunerated.• Proximity to the European market’s core economies.• Easy direct flight connections from Brussels, Eindhoven and Charleroi to and
from the capital Sofia.• A way to reduce your costs through relocating key personnel as the personal
taxes are fixed at the flat level of 10% for all income brackets.• Affordable real estate investment opportunities (more info available on request)
• Employee salary levels:– Average salary: +/- 500 BGN (256 euros)– Minimum salary: +/- 220 BGN (112 euros)
• Stable political regime
Company formation
BG Advise Ltd – www.bgadvise.eu 6
Tax levels
Tax Tax level RemarkCorporate tax 10%
Personal income tax 10%
VAT 20%
Dividend tax 5%
Other income distribution tax 5%
Social security – employer contribution
18%
Social security – employee contribution
13% Limited to 2000 BGN (~ 1000 euro)
Tax levels
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Company formation process• Services agreement with BG Advise and appointment of legal
representatives.• Preparation of the required documents by BG Advise.
Bulgarian company address can be registered on BG Advise corporate address.
• Drafting of “Act of Creation” and the company statutes– Name validity check– Drafting by specialised Bulgarian lawyer– Translation (BU Eng; BU NL/FR) by a sworn translator.
• Opening of a company bank account– needs to be done by a legal representative of the client.
• Registration at the Bulgarian Commercial Register, registration at BulStat and publication in the official Bulgarian government paper.
• Application for the VAT registration• BG Advise will apply for the VAT registration
– letter of authorisation to the accountant for the monthly VAT handling is required.
• Opening of company bank account
Company formation
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Company formation – services by BG Advise• Company formation (eventually no need to travel to Bulgaria)
• VAT filing (required on monthly base)
• Annual report
• Standard accountancy
• Secretarial services (phone, bill preparation,...)
• Company housing.
Company formation – Services by BG Advise
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Near-shore software and IT outsourcing services• Large population of highly trained scientists and engineers:
- over 100 institutions of higher learning- 29 universities and high schools offering education in computer sciences, information technology and mathematics.
• Approximately 6500 students graduate from Bulgaria’s institutes and universities annually in disciplines that enable them to become software professionals.
• Presence in Bulgaria of some major global players like SAP, Microsoft, Software AG, VMWare, HP, Cisco and many others.
Near-shore software and IT outsourcing services
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Technologies: o MS .NET Framework 2.0 and 3.5, Compact
.NET Framework, WCF o Sun J ava, J 2EE o ASP.NET, Ajax o J SP, J ava servlets and applets o Struts; Hybernate; Swing o PHP, Perl o Web Services, XML, XSL o OLE: ActiveX, COM, COM+, automation o HTML, XHTML, CSS. o OO Analysis, Design and programming o MS Windows; Linux; Unix; Mac OSX o
Languages and development environments: o Microsoft Visual Studio .NET o C#, C++ o PHP; Perl; Python; XML o Eclipse o Microsoft Visual Studio 6.0 o Borland Delphi o Borland C++ Builder o Borland J builder.
Database systems: o Oracle 7x, 8x and 9i o MS SQL Server 7.0, 2000, 2005, 2008 o Sybase and Interbase (FireBird). o MySQL; Postgr SQL o Informix o IBM Cloudspace/Derby o
Website development: o Web design and programming o Web architecture & usability o Creative interactive concepts o Content management o eBusiness models
Custom software solutions: o Software architecture and specification o Web-based software development according
to client’s needs o Adaptation and upgrade of client software o Integration of existent software solutions
I nternet marketing: o Online business strategies o Research & brand positioning o SEO & SEM o Promotional websites o Interactive creative games, competitions,
user-generated content, virals o Social media campaigns o Affiliate marketing o Email marketing & database mngt.
Available skills set
Near-shore software and IT outsourcing services
