Bulgarian Crypto
Authorization

By The Bulgarian National Revenue Agency (BNRA)

Crypto Licencing and Company Formation

Starting a new crypto venture? Or maybe you consider to relocate your already existing crypto company?

Here at WeForm we Specialize in crypto companies formation and digital assets management.

Why choose Bulgaria?

  • Bulgaria is very open minded when it comes to regulation of crypto assets, formation of crypto companies, and the way they percieve digital assets in general.
  • Some of the most generous perks for foreign companies, including the lowest income tax in EU, which stands at 10%
  • WeForm have worked a way to offer you a very lucrative Crypto Package for about 90% below the market price, while keeping the process 100% safe and transparent.
  • Lowest corporate income tax – 10%;
  • VAT 20%;
  • Dividend tax – 5%;
  • Crypto assets are not subject to VAT;
  • Initial capital requirements: from EUR 1;
  • Our procedures have the Highest success rate in the Industry;
  • No audit requirements.

Key
Requirements

  • Licensing Process Requirements: minimum one local director (contact person), can be the same person, can only be individuals.
  • Minimum Local Presence Requirements: Registered office, local bank account for tax and salary payments.
  • Requirements for the directors and shareholders: at least one shareholder who can be a managing director as well and at least one local director (contact person).

Required Documents

  • Notarized or certified copy of passport for all directors, shareholders and the UBO.
  • Proof of address (bill for water, electricity, gas, rent, municipal tax bill or bank statement with address) not older than three month, in English or with sworn translation to English for all directors, shareholders and the UBO.
  • CV for all directors, shareholders and the UBO.
  • Brief description of provided services and website of the brand (if applicable).

Timeline

The whole process is expected to take around 8 days for the ready-made fast track option and up to 3 weeks for establishing new company.

Steps Of Obtaining Authorization

1
Company name check and KYC check of all the UBOs, shareholders and directors. Confirmation of the share capital that client wants to pay (share capital is not included in to the price of the company).
2
Opening of company for the client*. After all documents are sent and internal checks are cleared, we will start the process of incorporating the company for you.
3
We will prepare the required documents with instructions for legalization and signing for the client.
4
Once the company is established and all documents are at place, creating AML rules, guidelines and additional documents required by the Regulator and filing for registration for crypto activities.
5
Obtaining an apostilled and translated in English documents of the company and proceed with further actions if the client needs any additional services.
*In case of opening a new company, delays are possible since local Bulgarian banks require enhanced due diligence for foreign shareholders.

Fees for the setting up the authorization

Service
Ready-made company purchase, with obtained authorization, includes:
  • ready-made company purchase with the sale purchase agreement;
  • registered address for 12 months;
  • apostilled and sworn translated set of documents of the company;
  • registered share capital account;
  • standard AML rules;
  • state fees paid up;
  • VAT number registration;
  • Obtained authorization with the relevant certificate
Service Amount (€)

EUR 11,000 + VAT

Service
Establishing a new company, includes:
  • establishing new company with the POA;
  • registered address for 12 months;
  • apostilled and sworn translated set of documents of the company;
  • share capital account registration and payment of the capital (min. is BGN 2)**;
  • standard AML rules;
  • state fees;
**Share capital exceeding BNG 100 is not included to the fee.
Service Amount (€)
EUR 6,500 + VAT

Mandatory Monthly Fees:

Service
Accounting, minimum monthly package for up to 15 transactions
Service Amount (€)
€300 + VAT
Service
Service of local contact person, monthly fee
Service Amount (€)
€750 + VAT
The mandatory fees should be paid from the company’s bank account regularly on a monthly basis.

Optional Services:

Service
Accounting, 15 to 50 transactions per month
Service Amount (€)
€400 + VAT
Service
Accounting, 50-100 transactions per month
Service Amount (€)
€600 + VAT
Service
Accounting, 100+ transactions per month
Service Amount (€)
From €700 + VAT
Service
Payroll services, recapitulations for tax and insurance dues, per month
Service Amount (€)
€30 + VAT per employee
Service
Dedicated AML rules and risk assessment documents preparation, one-time fee
Service Amount (€)
From €2,000 + VAT
Service
Legal opinion from local lawyer
Service Amount (€)
From €2,000 + VAT
Service
Operational office search in Bulgaria
Service Amount (€)
From €500 + VAT
Service
Assistance with EMI/PSP/Liquidity account opening, per one account
Service Amount (€)
€1,500 + VAT excluding provider’s fees
Service
Guaranteed on-dedicated B2B account opening, including provider’s fees
Service Amount (€)
€2,500 + VAT