SERVICE SHEET · SOFIA
Business advisory for companies operating in Bulgaria
We support the operational and organisational decisions of a business operating in Bulgaria: company form, deadlines, dealings with local advisers, working arrangements, recurring costs. The result is always a written document: who does what, and by when.
Who it is for
The service is for Italian and European companies that already have a Bulgarian company, or are about to have one, and that have no permanent structure on the ground.
Typical situations: the company is incorporated but nobody is tracking the deadlines; the accountant writes in Bulgarian and the answers arrive late; suppliers have to be chosen and managed from a distance; a decision has to be taken and the information needed to take it is missing.
SAURON LTD is based in Sofia and is entered in the Targovski registar (Bulgarian Commercial Register) under UIC 207660705. If the company does not yet exist, the starting point is market entry in Bulgaria.
What it covers
Six areas of work. Each one produces a document that stays with you.
Corporate structure and powers
We review the form in use — EOOD, OOD, branch, trade representative office — and what it means in practice: who may sign, within what limits, which decisions require minutes of the shareholder and which require an entry in the Commercial Register. We deliver a written note setting out the position found and the changes to be considered.
Compliance calendar
We build the schedule for the following twelve months: the annual financial statements and their publication in the Commercial Register, the corporate tax return and payments to the NAP (National Revenue Agency), payroll obligations, contract renewals. For each item we state the date, who performs it and the documents required. The applicable deadlines are re-checked at the start of every engagement.
Dealings with local advisers
We prepare the questions for the accountant, the lawyer and the notary, we attend the meetings, we translate what is said and we ask for written answers. You receive the minutes of the meeting and the list of decisions taken. Professional engagements remain yours and are invoiced directly by whoever carries them out.
Operational organisation
We define who does what: document flow, filing ordered by year and by matter, recurring forms, spending approval thresholds, expected response times. It is the least visible part of the work and the part that does most to reduce surprises.
Recurring costs
We reconstruct the fixed-cost structure: registered office, advisers, staff, utilities, technical services. We compare quotations from alternative suppliers and we check that what is invoiced matches what was agreed, item by item.
Representation before third parties
Under written mandate and within the limits you set, we appear before Bulgarian suppliers, landlords, public offices and counterparties. We report in writing by the following working day. We do not take on financial commitments in your name outside the mandate.
How it works
Five steps, in order. The stages follow the method applied to every engagement.
First meeting
Sixty minutes, in Italian or in English, remotely or in Sofia. You describe the situation, we list what is missing. If the matter falls outside the company’s scope, we say so at that point and we indicate the category of qualified professional required.
Reading the documents
We examine the corporate documents you make available to us and the public records of the Commercial Register. The outcome is the list of the gaps: missing instruments, entries that are out of date, deadlines that have already fallen due.
Framing note
A written document of four to eight pages: the position found as at the date, the applicable obligations with their deadlines, the decisions to be taken and by whom, the questions to be put to an accountant or a lawyer. It is the first deliverable and it stays with you.
Operating plan and implementation
We turn the note into a plan with dates and responsibilities, then we follow the execution: reminders, appointments, collection of signatures, filing of documents with the public offices, confirmation that the entry or the filing has gone through.
Periodic review
Monthly or quarterly, agreed at the outset. Each review produces one page: what is closed, what is open, what is waiting on a decision from you. No update is left to the spoken word alone.
What we need from you
At the start of the engagement you receive the detailed list, adapted to the case. Documents are sent as PDFs by e-mail. We do not ask for login credentials to public portals, nor for payment details.
- Current status certificate — Udostoverenie za aktualno sastoyanie (certificate of current status) for the Bulgarian company, or the shareholders’ details if the company has not yet been incorporated.
- Constitutive act and articles — Uchreditelen akt or druzhestven dogovor (constitutive act or articles of association) in the version in force, with subsequent amendments.
- Minutes of decisions — Protokoli (minutes) of the sole shareholder or of the general meeting for the last three financial years, including appointments and powers of attorney in force.
- Latest financial statements — The annual financial statements as approved and published, and the corporate tax return filed for the same financial year.
- Current contracts — Lease of the registered office, staff, recurring suppliers, professional engagements. The list alone, with amount and expiry date, is enough if the texts are not immediately available.
- Accountant’s contact details — Name, contact details and your written authorisation for us to deal with them. If there is no accountant, we flag it in the framing note.
- Power of attorney, where needed — For obligations to be discharged in your name: a notarised power of attorney with translation, in the form required by the receiving office.
- A single point of contact — One person on your side who answers and who can decide. It is the condition that has the greatest effect on timings.
Limits of the service
What follows is not included. Where it is needed, it must be entrusted to a qualified professional engaged directly by you: the relationship and the invoice remain between you and them.
- Bookkeeping and tax returns — We do not keep the books and we do not sign returns. These are tasks for the schetovoditel (accountant) you appoint. We prepare the list of documents to be handed over and we track the deadlines.
- Legal opinions and instruments — We do not draft legal opinions, we do not act in court proceedings and we do not execute notarial instruments. These require a qualified Bulgarian lawyer and, for instruments, the notary with territorial competence.
- Carrying out construction works — SAURON LTD does not carry out works and is not entered in the TsPRS (Central Professional Register of Builders). Execution is entrusted to registered firms: our role remains selection, coordination and supervision.
- Reserved activities — We do not carry out activities that the law reserves to entities entered in the registers of the KFN (Financial Supervision Commission) or the BNB (Bulgarian National Bank), and we are not entered in those registers. We do not hold client funds.
- Statutory audit of financial statements — We do not certify financial statements. Where an audit is compulsory, the engagement must be given to an auditor qualified in Bulgaria.
- Guarantees of outcome — We do not promise timings or outcomes for proceedings before public offices. We state the statutory deadlines and we say when a step depends on an office and not on us.
Frequently asked questions
What language is the work carried out in?
With you in Italian or in English, with Bulgarian offices and professionals in Bulgarian. Official documents remain in Bulgarian: where an Italian version with legal effect is needed, the translation is carried out by an accredited translator and, where required, the signature is certified by a notary. The working translations we produce for your understanding have no legal effect, and we state this each time.
Do you have to be resident in Bulgaria to run a Bulgarian company?
No. Bulgarian law does not require the manager to be resident. What is needed is a valid registered address, a person who can be reached for communications, and the ability to sign, in person or by proxy. The tax residence of the individual and that of the company are separate questions, to be assessed with a qualified professional before deciding.
How is the fee agreed?
In writing, before the work starts, on a daily-rate basis or for a defined engagement with the scope listed. No percentage linked to the value of the transaction. If a supplier or a professional we introduce were to pay a fee to SAURON LTD, we tell you in writing before you make the appointment. Any conflict of interest is declared before acceptance.
We already have an accountant in Bulgaria: is the service still of use?
Yes, and it does not replace them. The accountant keeps the books and answers for them. We track the calendar, prepare the questions, and check that the answers arrive and that filings are made on time. If the relationship is working, we say so and we confine ourselves to the areas that are not covered.
Scope of the service
SAURON LTD provides business advisory, commercial representation and intermediation services, within the limits of the objects of the company entered in the Bulgarian Commercial Register. It does not provide services reserved to entities entered in the registers of the KFN or the BNB and it is not entered in those registers. It does not hold client funds.
The information on this page is general in nature and does not replace the opinion of a qualified professional on the specific case. Scope of activity.
If Bulgaria is on the table, let's start with the right question.
Describe the situation. We reply telling you whether it falls within our scope and how we would proceed.