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Annual return and/or dissolving company
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Seedy
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Joined: Feb 21, 2012
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Location: Sofia, Dupnitsa, Lincs

PostPosted: Sun May 26, 2019 6:00 pm 
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IIRC dissolving the company is likely to be a lot more complicated - in the past there were people offering to do it but none of them seemed able to agree just what needed to be done or how much it would cost Very Happy

Lawyers said one thing, accountants something else and there were a couple of Jack the Lads who reckoned they could do it on the cheap via some unspecified sleight of hand. Make sure that you talk to someone who's really done the deed - and made it stick. Do bear in mind that if you're one of those "lucky" folk who are quite likely to be ex-EU citizens in a few months you might be better off seeing how the land lies before dissolving the company and wishing you hadn't a bit later.... Cool
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traveller
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Joined: May 20, 2019
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PostPosted: Sun May 26, 2019 6:30 pm 
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I`m still considering waiting, until the never ending story finishes, but still trying to get my head around the costs. When we leave I wonder how it will affect the way things are now in Bulgaria, hopefully it will be a positive and make things easier to close down, as I have no interest there now, after a fairly expensive mistake, but that`s my fault for trusting people.  
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erehwon
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Joined: Mar 02, 2012
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PostPosted: Sun May 26, 2019 6:41 pm 
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traveller wrote:
I`m still considering waiting, until the never ending story finishes, but still trying to get my head around the costs. When we leave I wonder how it will affect the way things are now in Bulgaria, hopefully it will be a positive and make things easier to close down, as I have no interest there now, after a fairly expensive mistake, but that`s my fault for trusting people.


Sadly, I suspect that if there is the possibility of making some money, then it will only become more expensive... Smile

My accountant's wife is, rather conveniently, a lawyer, and when out of interest I asked her about liquidation a few years ago, she estimated it would be about 600 leva and take a minimum of 6 months.

The reason that it's so prolonged is that they have to advertise for any possible creditors of the company to come forward and make themselves known, much like they have to in the UK.

Never trust people, not in BG.... or anywhere, really ... Smile
  
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Seedy
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Joined: Feb 21, 2012
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Location: Sofia, Dupnitsa, Lincs

PostPosted: Sun May 26, 2019 8:42 pm 
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Always ask a lawyer for a quote rather than an estimate - and in writing. These things have a habit of telescoping and if a lawyer can't give you a firm quote then you can figure that they don't really know enough about what they're doing in that particular field to be sure of what's going to be involved.

As my old Law professor used to say: "A lawyer who represents himself has a fool for a client", so ask yourself if you'd want him/her representing YOU... Wink
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traveller
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PostPosted: Tue Jun 18, 2019 9:04 am 
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Hi All, thanks for the responses so far. Does anyone have any details on a good english speaking solicitor, who can deal with the dissolving of my limited company in the North of Bulgaria? Thanks  
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Seedy
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Location: Sofia, Dupnitsa, Lincs

PostPosted: Wed Jun 19, 2019 4:30 pm 
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It doesn't really matter where the lawyer is located - you can do all your communicating via email/Skype etc. Be careful though, the last I heard various lawyers had their own ideas about what is required to achieve this properly; needless to say some of those ideas are a little weird. You don't want to get bitten a few years down the line if the job hasn't been done correctly.... Sad
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ChrisF
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Joined: Feb 21, 2012
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Location: VELIKO TARNOVO

PostPosted: Wed Jun 19, 2019 7:20 pm 
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The British Embassy (Sofia) publishes a iist of English-sopeaking lawyers in Bulgaria, and I personally know 3 in Velliko Tarnovo, but why you would pay a lawyer to close a company I really don't know - an accountant will do the same job for less money.
I know of at least one who's quoting about half of the price local lawyers are charging - I'll check it out tomrrow and post.
And Mariana Miteva's number (my accountant) is 088 831 0950, she does speak English but is not very confident. A friend successfully organised his last set of accounts by contacting her on this number from France
  
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traveller
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PostPosted: Thu Jun 20, 2019 5:41 pm 
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Seedy wrote:
It doesn't really matter where the lawyer is located - you can do all your communicating via email/Skype etc. Be careful though, the last I heard various lawyers had their own ideas about what is required to achieve this properly; needless to say some of those ideas are a little weird. You don't want to get bitten a few years down the line if the job hasn't been done correctly.... Sad


Thanks for the advice, I`m in contact with the NRA, who deal with the company returns side of things and they tell me, that I need a electronic signature to file the company accounts, but I`ve also asked them about dissolving the company, so just waiting for a reply.
  
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ChrisF
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Location: VELIKO TARNOVO

PostPosted: Sat Jun 22, 2019 12:49 pm 
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I have had a quote for closing a company from an accountant here in VT - 350 leva.
He does not speak English but an English-speaking Bulgarian works with him so there is no problem.
Unfortunately the work cannot be done remotely so a Power of Attorney is needed.
Electronic signatures for the submission of accounts have been required for some time now, which is why accounts are now submitted by professionals who pay for them.
  
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