There are many disappointed UK investors in Bulgaria. Some of them are leaving the country and want to sell their investment and recover at least some of the money they have put in property or business. The problems each foreigner is facing are:
- How to sell the property at a decent price so that at least 70% of the investment is recovered and
- What will happen to the Bulgarian company
As the first problem is connected mainly to the market demand, the second problem can be resolved with a help of a lawyer. Usually when you sell you property the company is becoming dormant and you are not trading anymore. IF you intend to leave the country for ever it will be not so good idea to leave a company with your name in it. Sooner or later the National Revenue Agency might want to make an inspection and will find out that you haven’t submitted annual tax declarations. This will be quite suspicious so your company will be marked as one to be surveyed. The tax and financial information in the EU is quite easy transferable. It might turnout that you will be charged with the Bulgarian fine in UK, which is quite unpleasant experience for your UK tax record.
The solution to get rid of the Bulgarian company is to close it by liquidation. The liquidation process takes about 6 months, having in mind that the company has no public or other debts. A liquidator has to be appointed who will take care of the whole process, prepare and submit the necessary documents, so your company will be removed from the Companies register of Bulgaria. Since I am professional liquidator I take care of all the procedures and have your company closed as smooth as it should be. No stress, no problems for you. I am also a registered liquidator with the Registry Agency of Bulgaria. My office is based in Varna so should you have a company registered in Black sea region, do not hesitate to contact me.