During the second half of last year the supply of modern office premises in Sofia grew by over 12%. This gave grounds for the real estate agents specializing in the rental and sale of offices in commercial buildings, to make prognoses for an increased interest in quality commercial and business properties in year 2012. According to the expectations of the agents, the greatest will be the interest shown by companies that are working in the spheres of Internet technology and those working in the pharmaceutical sector. In other words, the companies will search for new and modern offices for their business will be mainly from those sectors that are not affected by the crisis. These companies are generally looking for offices with an area of 1000 sq.m, placed near the main boulevards.
Currently, the market shows that almost three quarters of the available office space in the capital Sofia are concentrated in the suburbs and only a quarter of them are located in the city center. In general, the number of the office buildings in the high Class A has increased significantly, but not all of them fully comply with all indicators of the class A offices. Since there is a demand for Class B offices as well, there is such supply on the market. Offices from Class B are in the focus of the smaller, often local companies. Another type of offices on the market, that face an increased interest are the virtual offices, which are preferred by the emerging local and foreign companies on the Bulgarian market, which wish to get an idea about the market.
The prognoses of the office realtors are for stability in the rental levels of the offices, as well as a steady demand for good offices in business buildings of Class A, which will be released on the market this year. The demand for this type of high quality offices will be strengthened by the fact that they meet the special requirements of the international companies, which intend to enter the Bulgarian market.
According to the prognosis of the realtors, the real estate market in 2012 will be more active if renting and purchasing of offices in the new and luxurious office buildings in the capital is concerned. Moreover, the professionals are optimistic that the city of Sofia will attract the solid investors from UK, USA and Greece, while there will also be an increased interest from established investors in Bulgaria. The analyses of the people who work in that sphere shows that these investors are willing to take higher risks, or wish to purchase office buildings under construction and to provide for their subsequent completion and rental.
The prognoses of the brokers, who are specialized in the rental and the sale of offices, are that in year 2012 this sector of the real estate market will not only reach the level of the previous year, but will surpass it. Among the most successful deals in Sofia in year 2011 were the sale of “Mall of Sofia” and “Business Centre Bells”, as well as the “European Trade Center”. It should also be mentioned that a large and modern office in the new office building “East Tower” was purchased for the outsorcing branch of the investment company “Bernard Investments” with headquarters in France.
The consulting firm Cushman & Wakefield published a report at the beginning of the year, which states that besides Bulgaria the other attractive markets for commercial real estate properties are the following countries – Hungary and the Czech Republic, Slovakia and Estonia, Croatia and Russia. The investments made in Eastern and Central Europe last year have reached 6 billion Euro and it is expected that a similar share of investments will be made this year. We should also mention the continued interest of the investors in the virtual offices, the use of which helps them find their way to enter the market before purchasing a real office.
It seems that the big companies are moving towards the end of Sofia, near the Ring Road. There are already several large business centers, except the Business Park, since there are serious plans for the construction of good and convenient road connections. Thanks to the good infrastructure, this area of the city is expected to attract more business companies and thus the new office area is expected to be near the new section between the big furniture store “Ikea” and the future “Sofia Ring Mall”, which is expected to become one of the largest entertainment and shopping centers in Sofia.
Besides the business companies that are now coming to the Bulgarian capital and are looking for offices in the high Class A, the region is also provoking the interest of many major retailers of furniture and equipment. Overall, the area between the Business Park and boulevard “Bulgaria” is formed as a new and modern office and shopping area, where except the buildings already familiar to us like the Business Park and the stores “Technopolis” and “Como”, and the Cinema Complex “Arena”, soon there will be many new office buildings and large stores. Before this happens however, the area presents a nice selection of completed office centers. There is a tendency these centers to be rented by the new international companies who are just entering the Bulgarian market before new business areas to be constructed.
The serious supply of office buildings in the city of Sofia in the last few years formed several different segments in that sphere of the real estate business. Several projects of office buildings of the highest quality are being preferred by the companies, while other projects are turning into outsiders. Those investors who have been smart enough to put their efforts on the planning and have carefully chosen the location of their office buildings, and have further insisted on the easy access, the good technical characteristics and the available parking options are now attracting the attention of the companies.
Currently, the companies can choose from more than 350 000 sq.m of available offices for rent or approximately thirty percent of all offices in Sofia. A great part of these offices are located in organized business centers in the outskirts of the capital. The prognoses are that the high-quality office buildings will get tenants in the next two years and will keep their popularity. At the same time, it is expected that the offices of the highest class when it comes to location and amenities will face an increase in the rental levels. Part of the business companies that are still hesitating whether to open offices in the country are currently using the option of the virtual offices in Bulgaria. Once they start to feel more secure they will most probably open offices in some of the high-class office buildings in Sofia.
The city of Sofia is among the European capitals with the greatest number of available offices of the highest class A. In the last year 2011, the rental levels of the offices have been stable. The same tendency could be seen at the office markets in Central and Western Europe, as well as in Russia. The office markets in Moscow and London have faced an increase in the rental levels of approximately ten per cent, while the office markets in Sofia, Athens and Dubai has underwent a decrease of eight per cent. The reasons for that for the city of Sofia is not the lack of interest but the increased number of offices available for rent. The tendencies for Sofia city are for a great number of the available offices and stable return levels of the investment.
Approximately 1.4 million square meters is the overall area of the offices in Sofia with more than 27 000 sq.m of new offices being completed in the last months of the previous year. The rental market is still in a slow phase and there are not many contracts sign. Those, which show interest in renting a new office, are usually companies that want to relocate and have access to better conditions and more extras in the office buildings of class A in Sofia. More than 150 000 sq.m of offices are to become completed and functional until the end of year 2012. The rental levels of the offices are expected to remain stable. The interest in the virtual offices in Bulgaria is also keeping its good levels and many companies are choosing that formula for making successful business in the country.
Now that the deadline for the company re-registration in Bulgaria is near, many company owners in the country should act quickly and arrange that procedure. Otherwise, they will have serious troubles with the ownership of their properties. All the companies, which are not included in this new online register according to the regulations of the Trade Register Law, shall be removed from the register of companies in the country. This will also result in a loss of the company assets, which includes properties as well. This is so, because the companies that have not went through the re-registration process shall be blocked and will not be able to sell their properties.
How can you re-register your company? This you can do in two ways – you can either come to Bulgaria or arrange everything from abroad. Since travelling can be time and money consuming, you can send a signed Power of Attorney to our lawyer, who can represent you and do that for you. The lawyer will prepare all the necessary documents ad will send them to you for a signature. Since the deadline is near, make sure to act quickly and arrange everything on time. Once the company is re-registered, all its financial reports since year 2007 should be published in the online register. The deadline for this is three months and that service, as well as other tax advisory services in Bulgaria are also offered by our company.
The deadline for the process of re-registration of companies in Bulgaria is at the end of the year or 31st December 2011. In case of failure to complete that procedure, the owners of companies might lose them and also lose the properties that are bought on the name of the company that is not re-registered.
This is important information for all those investors, who have purchased properties by company registration in Bulgaria before year 2008. According to the Trade Register Law, which is applicable to the Bulgarian companies, requires that all existing companies must go through the process of registration into the new online register by the end of this year.
According to the regulations of that law, which came into force in the beginning of year 2008, the companies which are not added to the new online register shall be removed from the register of companies in the country and will lose their assets, which includes properties as well. The companies that are not re-registered shall be blocked and will not be able to perform any activities at all, including sale of their properties.
By the end of June 2010 all Bulgarian companies registered in the Registry Agency must submit their financial reports for 2009, which is done in the Bulgarian Trade Register of the Registry Agency.
The companies that do not submit their annual financial reports on time are facing penalties from 2000 up to 3000 leva. There are more than 27000 such companies in Bulgaria for 2008.
The list of those companies has already been prepared by the Bulgarian Registry Agency and the National Revenue Agency. The deadline for submitting those reports was June 2009 so they are almost one year late with that.
The good news is for those who even though have missed the deadline have submitted the reports with some delay. For them the penalties will be significantly lower, the National Revenue Agency promised.
Each operating company must make and submit an annual financial report on the results of its activities during the reporting year by 31st of March of the following year. After completion of the annual balance of the accounts, for the company is being drawn up an annual financial report for the activity, which provides summary information about the accounting to the moment under the company's accounting policies during the past fiscal year. The relevant accounting policy of each company include the bases for evaluation when preparing the annual financial statements and is an important part of the corporate accounting, determining the manner for the formation of the company's financial results.
The annual financial statements are based on the international accounting standards and are the final stage of the accounting through the entire year. At preparing the annual financial statement must be taken into account that, although independent from one another, the details of the report at the beginning of the current reporting period should coincide with the data from the end of the previous reporting period. This annual report is made towards 31 December of the year and should fairly present the financial and property status of the company, the changes in the cash flows and the capital.
According to the Law on Accounting, the proposed annual financial statement must meet several important conditions, namely: to be understandable and useful, to give an opportunity to be evaluated past, present and future events, to be clear of mistakes and the information from various years to be comparable. The items which compose the annual financial statements include a balance sheet and cash flow report, income and expenditure accounts report, report for the capital and several appendixes. When submitting the annual financial statements of trade companies should be prepared several documents, namely: a certificate of company accounts, balance, minutes of general meeting, the sole act of the owner and power of attorney certified by a notary, in case that the documents are submitted by accountant representing the company.
When the annual financial statement has been prepared, the company should prepare its annual tax declaration according to the Law on the Corporate Income Tax, while the individuals must submit an annual tax declaration for income tax on individuals. Namely, the aforementioned annual tax declaration shall be filed by all persons who are taxable and this shall be done according to the deadlines set by law. The information should be accurate and the deadlines must be met to avoid fines. After the annual balance of accounts are to be prepared the opening balances for the next year and to be made a comprehensive statement of the Company for the year under review. This annual balance of accounts is based on changes in the law for the reporting period.
The annual tax declaration of the individuals include information concerning the income acquired during the year from employment, other business, rent or granting rights or property, income from the sale or exchange of property, as well as other sources such as benefits, awards and more. The annual tax declaration of individuals is made regardless of the amount of the declared income received during the previous fiscal year. The deadline for submission of the annual tax declaration of individuals is by the end of April each year. When individuals submit their tax declarations until early February, they enjoy a discount of five percent on the paid part of the tax. When the declaration is filed electronically the five percent discount applies until the end of April. The annual tax declarations of the individuals shall be filed in the Territorial Directorate of NRA in accordance with the permanent address of the person. When the individual is a foreign national, the annual tax declaration is submitted by the representative of Directorate of NRA where the proxy resides.
The annual financial statement shall be drawn by:
– Individuals in their role of accountants
– Specialized accounting houses and businesses
The annual financial report contains:
– Signature of the head of the business or an authorized individual
– Company stamp (if the report is for a company and not for an individual)
The annual financial report shall be published in economic journals and on the iInternet from:
– companies that are not re-registered by the end of May 2009 and are subject to independent financial audit
– civil associations
– legal persons who are not traders
– foreign entities doing business in the country
The penalties associated with the annual financial statements of companies and individuals include:
– the individuals who have not filed their annual financial statements in time shall be punished by a fine or penalty of up to 500 leva. When there is a repeat offense, the fine is up to 1000 leva.
– the individuals who have filed false information in their annual financial statements shall be punished by a fine or penalty of up to 1000 leva. When there is a repeat offense, the fine is up to 2000 leva.
– sole traders who do not submit their annual financial statement together with their annual tax declaration or do not make it on time, are to be fined to an amount of up to 500 leva. When there is a repeat offense, the fine is up to 1000 leva.
– sole traders, for whom the annual financial statements are subject to compulsory financial audit and does not submit a copy of the report under the law for independent financial audit or does not meet the deadline are fined to the amount of up to 2000 leva. When there is a repeat offense, the fine is up to 4000 leva.
Процесът на пререгистрация на търговски дружества и еднолични търговци в България е задължителна правна процедура, която гарантира правилното прехвърляне на предприятията от бившите съдебни регистри към Търговския регистър на Република България. Този процес засяга хиляди дружества, създадени преди въвеждането на единната електронна система, и представлява ключов елемент от регулаторното съответствие в България.
Какво представлява пререгистрацията на търговски дружества и еднолични търговци?
Пререгистрацията представлява формално прехвърляне на данните за търговците от старите съдебни регистри към централния Търговски регистър, администриран от Агенцията по вписванията. Тази стъпка осигурява единна, прозрачна и публично достъпна база данни, съобразена със съвременните европейски бизнес стандарти, разгледани и в по-широкия контекст на корпоративната рамка на ЕС.
Целта на пререгистрацията не е създаването на ново дружество, а потвърждаване на правната приемственост на съществуващо такова в рамките на действащата нормативна уредба. След приключване на процедурата дружеството получава Единен идентификационен код (ЕИК), който е задължителен за всички административни, данъчни и правни действия.
Кои лица подлежат на пререгистрация?
Търговски дружества, регистрирани преди създаването на Търговския регистър
Еднолични търговци, регистрирани в районните съдилища
Неактивни дружества, които притежават активи или имат задължения
Български дружества с чуждестранно участие, учредени по стари процедури
Защо пререгистрацията е задължителна
Пререгистрацията е изрично изисквана от българското законодателство, а неприлагането ѝ води до сериозно ограничаване на правоспособността на дружеството. Макар формално да съществува, непререгистрирано дружество не може да участва в основни търговски и административни дейности.
Правни и практически основания за пререгистрация
Осигуряване на правно признание съгласно действащото законодателство
Възможност за промени в управлението, съдружниците или адреса
Прехвърляне или продажба на активи
Ликвидация, преструктуриране или закриване на дружеството
Повишаване на прозрачността и доверието от институции и партньори
Без пререгистрация банки, нотариуси и държавни органи обикновено отказват да работят с дружеството, което на практика блокира дейността му – риск, често посочван в анализи на корпоративното съответствие.
Необходими документи за пререгистрация
Документационният етап е един от най-критичните елементи на процедурата. Историческите документи трябва точно да отразяват правния статус, собствеността и управлението на дружеството, в съответствие с добрите практики, описани в съвременните стандарти за корпоративно управление.
Документи за търговски дружества
Заявление за пререгистрация по Закона за търговския регистър
Учредителен акт или дружествен договор
Съдебно решение за първоначална регистрация
Удостоверение за актуално състояние от стария регистър (ако е налично)
Образци от подписи на управителите
Декларации за верността на заявените обстоятелства
Документи за еднолични търговци
Заявление за пререгистрация
Старо съдебно удостоверение
Декларация за съществуващите обстоятелства
Копие от документ за самоличност
Всички документи се подават на български език. Документи на чужд език подлежат на заверен превод, а в някои случаи и на нотариална заверка или апостил – често срещан въпрос при трансгранични бизнес структури.
Процедура по пререгистрация – стъпка по стъпка
Процедурата следва стриктно определена административна последователност. Въпреки това много заявления биват отказвани поради формални грешки – често срещан проблем в бизнес администрацията в България.
Стъпка 1: Предварителен правен преглед
Извършва се детайлен анализ на историческите документи с цел откриване на несъответствия, липси или остарели данни. Всички проблеми трябва да бъдат отстранени преди подаването.
Стъпка 2: Подготовка на заявленията
Заявленията се подготвят в пълно съответствие с изискванията на Агенцията по вписванията, като всички приложения се оформят коректно.
Стъпка 3: Подаване в Агенцията по вписванията
Заявлението се подава електронно с квалифициран електронен подпис или чрез упълномощен представител.
Стъпка 4: Проверка от регистъра
Агенцията извършва формална проверка. При установени нередности се издават указания за отстраняването им в законов срок.
Стъпка 5: Успешна пререгистрация
След одобрение вписването се публикува в Търговския регистър и дружеството функционира пълноценно със своя ЕИК.
Чести проблеми и рискове при пререгистрация
Много дружества подценяват правната и процедурната сложност на процеса, особено при непълна документация – проблем, характерен за стари корпоративни структури.
Най-чести проблеми
Липсващи съдебни решения
Невписани промени в собствеността
Грешни фирмени наименования или адреси
Неправилно заверени документи
Откази поради формални пропуски
Тези проблеми водят до забавяния, допълнителни разходи и повторни подавания, което значително удължава срока на процедурата.
Пререгистрация и неактивни дружества
Дори неактивните дружества подлежат на пререгистрация, ако притежават активи, задължения или подлежат на закриване. Пререгистрацията е задължителна предпоставка за ликвидация или заличаване.
Специфики за чуждестранни собственици
Чуждестранните предприемачи се сблъскват с допълнителни затруднения като езикова бариера, липса на местно присъствие и непознаване на процедурите, често посочвани в анализи на чуждестранните инвестиции.
Ключови съображения
Издаване на пълномощно на местен представител
Заверени преводи на корпоративни документи
Координация със счетоводители и юристи
Спазване на данъчните и осигурителните изисквания
Какво може да направи SofiaOffices за вас?
SofiaOffices предоставя цялостна професионална подкрепа при пререгистрация на търговски дружества и еднолични търговци в България, като услугите са специално насочени към дружества с чуждестранно участие.
Със SofiaOffices елиминирате административния риск и гарантирате пълно съответствие с българското законодателство.
Заключение
Пререгистрацията на търговски дружества и еднолични търговци е ключово правно задължение, което защитава бизнес правата и осигурява оперативна непрекъснатост в България. Независимо дали дружеството е активно или неактивно, местно или с чуждестранно участие, пререгистрацията е основата за бъдеща бизнес дейност.
Партнирайки си със SofiaOffices, получавате надежден местен партньор, който управлява целия процес професионално, ефективно и в пълно съответствие със закона.
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