Amazon FBA and taxation

Amazon FBA, or Fulfillment by Amazon, is a business model that might seem attractive. Basically, if you decide to sell a certain product through Amazon, the deal is that you send your product to Amazon for storage and distribution, properly packaged. From then on it is your job to promote your business and find new clients, while Amazon does the practical things like handling orders and sending the products. There are, of course, fees for this service, as well as fees for storage.

But you should bear in mind that going into this line of business may bring some purely bureaucratic setback to you.  There are Amazon’s strict rules to consider, there are sales tax and VAT regulations in different EU and non-EU countries, and there is personal responsibility for faulty or dangerous products. Continue reading “Amazon FBA and taxation”

Bulgarian Visa information guide

If you decide to travel to Bulgaria, kindly read our guide in order to acquire general information what is required.

At first, check whether a visa is required for your country.

Visa Regime for foreigners with ordinary passports for a short stay (until 90 days) – check the list.

Visa Regime for foreigners with diplomatic and service passports – check the list.

Visa types:

Visa A (for airport transit) – The airport transit visa entitles the foreigner to cross or to stay in the international transit zone of the airport in the case of a transit landing or of changing flights for the purpose of continuing travel to another state. Continue reading “Bulgarian Visa information guide”

Permanent residence in Bulgaria

Permission for a permanent residence may receive aliens:

– of Bulgarian descent;

– who have resided legally and continuously on the territory of the country for a period of five years, five years after contracting a marriage with a foreigner permanent resident in Bulgaria;

– minor or underage children of a foreigner permanent resident in Bulgaria, who have not married;

– parents of a Bulgarian citizen, where they provide the said citizen with the child support due under the law and resided legally and constantly for a period of 3 years in the territory of the state;

– who have resided legally and without interruption on the territory of the country for a period of 5 years and for this period they have not been absent for more than 30 months; Continue reading “Permanent residence in Bulgaria”

Extended residence in Bulgaria

An extended residence permit may be granted to foreigners who possess a visa D (information below) and:

– wish to work under a contract of employment after obtaining a permit from the authorities of the Ministry of Labour and Social Policy;

– engage in commercial activities in Bulgaria according to the statutory procedure and at least ten jobs for Bulgarian citizens, maintained for the term of residence, have been created as a result of the said activities, unless otherwise agreed in an international treaty which has been ratified, promulgated and entered into force for the Republic of Bulgaria;

– are foreign specialists residing in Bulgaria by virtue of international treaties whereto the Republic of Bulgaria is a party;

– have grounds to be permitted permanent residence;

– are representatives of non-resident commercial corporations registered at the Bulgarian Chamber of Commerce and Industry; Continue reading “Extended residence in Bulgaria”

Acquiring BG citizenship by investment

 I. Under Art. 12 of Bulgarian Citizenship Act

The physical person :

  1. Must be an adult;
  2. Before no less than 5 years has been given permit for permanent or long-term residence in Bulgaria;
  3. Has not been convicted of a crime by Bulgarian court or is not prosecuted for such a crime, unless rehabilitated;
  4. Has an income or occupation that enables him to live in Bulgaria;
  5. Is skillful at Bulgarian language;

Permit for long-term residence – requirements (LFRB art. 24, para 1, items 19, 20):

  • Visa D;
  • Investment of no less than 600 000 BGN or  investment in economically disadvantaged regions of no less than 250 000 BGN plus opened at least 5 workplaces for Bulgarian citizens;

Permit for permanent residence – requirements (LFRB art. 25, para 1, items 16, 17): Continue reading “Acquiring BG citizenship by investment”