Company registration. Music company
Hello I want to register a company. A music company is the business I want to create, thinking about producing and releasing discs. As far as I am aware, as only I will be the owner and have no partners, I have to register for EOOD and as a manager of the company I will have to provide two minimum wages. Since the company will initially issue one or two discs per year, is my question a choice to avoid paying social security contributions throughout the year.
You have rightly pointed out that once you are the sole owner of the capital, you must proceed to the registration of EOOD. If you have a record in the management contract (to be signed as a manager with the company) that you will do your work without remuneration, then you will have to personally make, during the year, prepayments as a self-insured person calculated on the basis of the approved country minimum insurable income (2018 = 510 BGN).
When starting the activity of the company, you are obliged to submit a declaration of commencement of the insurance. If the company temporarily suspends its activity, you file a new declaration of interruption of the insurance as a self-insured person and then you will not owe insurance. (you pay insurance only for the time the company operates).
We hope we were useful to you.