Question Reliable and not overpriced company formation provider for Bulgaria?

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Forester

Forester

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A good friend of mine asked me about the abovementioned.
Unfortunately, this is not my area of expertise ”“ what are your recommendations?
He wants to establish a single-member LLC (EOOD).

In particular, he also asked for an opinion about this company Company Formation in Bulgaria - BG Advisor but any input is welcome, no prejudices 🙂

I have already went through this thread Unlock the Gates of Success: Mentor Group Gold! and through Resource section but noticed no local/dedicated provider; just that Offshore Corporations, LLCs, Trusts, and Bank Accounts and Turner Little are able do it (no surprise for me).

So any recommendations for some smaller/local company are much appreciated 🙂 Also, any experience with Offshore Corporations, LLCs, Trusts, and Bank Accounts and Turner Little in Bulgaria...

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I am just a simple countryman. Anything I say is only a personal opinion, not a certified advice 🙂

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Best tip ever, go to UpWork, find someone from Bulgaria who offers legal services, and ask if they can do this for you. Most of the time the answer will be yes. It will cost a lot less than any formation provider and they are more honest with you. The same can be done with freelancers from other countries.
 
diatessaron said:
diatessaron said:
Best tip ever, go to UpWork, find someone from Bulgaria who offers legal services, and ask if they can do this for you. Most of the time the answer will be yes.
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Thank you ”“ really an interesting idea, much appreciated. Did not come to my mind, I admit.

diatessaron said:
diatessaron said:
It will cost a lot less than any formation provider
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Yes, I guess so ”“ yet do you think that lawyer will be able to manage some registered address, accountant etc. (I guess yes) and a bank account (I am not sure but I rather doubt)? I presume, you have some personal experience with this?

diatessaron said:
diatessaron said:
and they are more honest with you.
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Yes, may be...

diatessaron said:
diatessaron said:
The same can be done with freelancers from other countries.
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Do you have anything particular in your mind?

AHK84 said:
AHK84 said:
before Bretix i used bulgarian properties to register a company, Registration of a Bulgarian Company by BULGARIAN PROPERTIES

They charged me only 200 euros back then, hope this helps.
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Thank you, much appreciated. Now they charge 300 EUR, as I see, but it's completely OK IMO. (BTW, I presume that you wanted to say “before Brexit”, correct? 🙂)
It may be interesting as a company registration is just a by-product for them (apparently serving mainly their clients who cannot buy real estate in personam for legal reasons), so it can't be overpriced. I guess they would be able (as real estate agents) to manage a registered address, I see that they are able to offer an accounting service ”“ are they able to manage a bank account, @AHK84? Do you have some experience with this?

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I am just a simple countryman. Anything I say is only a personal opinion, not a certified advice 🙂

If you think it makes sense, you can like it; if opposite, please, tell me, why I am wrong...
 
Forester said:
Forester said:
Yes, I guess so ”“ yet do you think that lawyer will be able to manage some registered address, accountant etc. (I guess yes) and a bank account (I am not sure but I rather doubt)? I presume, you have some personal experience with this?
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I found an accountant (Polish) on UpWork a while back and asked if they could register a company for me in Poland, the answer was yes and she also helped with registering an address. I also got to connect to a lawyer and a translator through her, all 3 of them had been working together previously, something that saved me a lot of time. This is for the European company.

For the one in Asia, a lawyer helped and he also figured out the bank account we needed, but that was because his office handled such requests, so depending on who you find some things can be done and some other things cannot be done.

All in all, I did save a lot of money, I would say about 75% of what the incorporation agency was going to charge. The savings isn't the best part of all this, it's the fact that you can build a team of people who have previously worked together and that will save you a lot of time.
 
diatessaron said:
diatessaron said:
I found an accountant (Polish) on UpWork a while back and asked if they could register a company for me in Poland, the answer was yes and she also helped with registering an address. I also got to connect to a lawyer and a translator through her, all 3 of them had been working together previously, something that saved me a lot of time. This is for the European company.

For the one in Asia, a lawyer helped and he also figured out the bank account we needed, but that was because his office handled such requests, so depending on who you find some things can be done and some other things cannot be done.

All in all, I did save a lot of money, I would say about 75% of what the incorporation agency was going to charge. The savings isn't the best part of all this, it's the fact that you can build a team of people who have previously worked together and that will save you a lot of time.
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Yes, this is fully understandable. Thanks for sharing!

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I am just a simple countryman. Anything I say is only a personal opinion, not a certified advice 🙂

If you think it makes sense, you can like it; if opposite, please, tell me, why I am wrong...
 
clemens said:
clemens said:
Sorry but legal services and UpWork sounds for me totally wrong. I don't hope anyone is using this for serious matters.
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I'm not suggesting you find a criminal lawyer on UpWork so they can help with your RICO charge. I'm suggesting you find someone who offers legal services and create a company through them, it's at least 50% cheaper than whatever any agent out there is offering.
 
diatessaron said:
diatessaron said:
I'm not suggesting you find a criminal lawyer on UpWork so they can help with your RICO charge. I'm suggesting you find someone who offers legal services and create a company through them, it's at least 50% cheaper than whatever any agent out there is offering.
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It's totally possible that you got lucky finding a lawyer on Upwork, and all respect for that. But I would never build my business on some random guy I found there, especially when important company documents and other key paperwork aren't tailored to my specific situation.

If you're okay with a fly-by-night operation, then sure, an Upwork dude might be fine. But if you have a long-term plan to build a serious business, there's no way you can rely on that kind of service. It could cost you your company, your health, and your entire business if you put your trust in something like that.

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One of my favorit articles in Mentor Group ~ Sending money anonymously archieve Financial Anonymity
 
Forester said:
Forester said:
A good friend of mine asked me about the abovementioned.
Unfortunately, this is not my area of expertise ”“ what are your recommendations?
He wants to establish a single-member LLC (EOOD).

In particular, he also asked for an opinion about this company Company Formation in Bulgaria - BG Advisor but any input is welcome, no prejudices 🙂

I have already went through this thread Unlock the Gates of Success: Mentor Group Gold! and through Resource section but noticed no local/dedicated provider; just that Offshore Corporations, LLCs, Trusts, and Bank Accounts and Turner Little are able do it (no surprise for me).

So any recommendations for some smaller/local company are much appreciated 🙂 Also, any experience with Offshore Corporations, LLCs, Trusts, and Bank Accounts and Turner Little in Bulgaria...
Click to expand...
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where are you from.? I think I could help you. I'm just in Varna BG ! Preferred language... is German 😉)) ha ha
 
padres123 said:
padres123 said:
where are you from.? I think I could help you. I'm just in Varna BG ! Preferred language... is German 😉)) ha ha
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Thank you for the feedback! As mentioned in the first post, it was a good friend of mine, not me, who asked for the provider; so I admit that I am not aware whether the problem has already been solved or not, I only know that my friend was working on it. I will ask him (probably during the weekend) and get back to you here.
(I understand this as you are just offering a help, not selling some your professional services ”“ the latter would be against the forum rules... 🙂)

Last edited: Jan 25, 2025
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I am just a simple countryman. Anything I say is only a personal opinion, not a certified advice 🙂

If you think it makes sense, you can like it; if opposite, please, tell me, why I am wrong...
 
Forester said:
Forester said:
Thank you for the feedback! As mentioned in the first post, it was a good friend of mine, not me, who asked for the provider; so I admit that I am not aware whether the problem has already been solved or not, I only know that my friend was working on it. I will ask him (probably during the weekend) and get back to you here.
(I understand this as you are just offering a help, not selling some your professional services ”“ the latter would be against the forum rules... 🙂)
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As I have learned, the demand is still relevant ”“ the case is not closed as what was offered had not been satisfactory. @padres123, I'll send you a PM to share the contact information.

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I am just a simple countryman. Anything I say is only a personal opinion, not a certified advice 🙂

If you think it makes sense, you can like it; if opposite, please, tell me, why I am wrong...
 
padres123 said:
padres123 said:
where are you from.? I think I could help you. I'm just in Varna BG ! Preferred language... is German 😉)) ha ha
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Is this a professional service you are offering?

Forester said:
Forester said:
(I understand this as you are just offering a help, not selling some your professional services ”“ the latter would be against the forum rules... 🙂)
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how do you know that ?
 
Forester said:
Forester said:
(I understand this as you are just offering a help, not selling some your professional services ”“ the latter would be against the forum rules... 🙂)
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Houdini said:
Houdini said:
how do you know that ?
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To be honest, I did not know that. I was just judging by the phrasing of the post and the author's profile and behaviour at the forum until now. (And fortunately, it has been confirmed in the short conversation afterwards.)
See, my default attitude here is that I tend to believe that members are sane people acting in a good will. Of course, it is not always true, unfortunately. Yet I consider appropriate to react after something bad is done, not pre-emptively...

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I am just a simple countryman. Anything I say is only a personal opinion, not a certified advice 🙂

If you think it makes sense, you can like it; if opposite, please, tell me, why I am wrong...
 
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