Digital Marketing Business

Digital Marketing Business

Question:
Hello!

I would like to register a company that will provide digital marketing services.
1. Does the company need to be registered for VAT? We currently have no clients.
2. The person who will be the owner works under an employment contract elsewhere, will that be a problem?
3. Will a cash register be needed?
4. How long after submitting the registration documents will the company be able to start working and issue invoices?
5. Can you assist with the preparation of contracts for the services we will provide?
Thank you in advance!

Answer:
Hello,
Directly to your questions:
1. There are various hypotheses according to which you may be subject to VAT registration. The most basic ones are:
- reaching a sales turnover of 166 thousand BGN for the previous 12 months.
- providing services to legal entities outside Bulgaria, but within the EU
- receiving services from legal entities outside Bulgaria.
There are several more hypotheses, but they are very specific and we believe that the chance of them being applicable to your business is minimal.

2. There is no problem for the person to work on an employment contract and be the owner of a company, unless there is a clause in the contract itself prohibiting this.

3. If you accept payments in cash or through a payment system that is not on the BNB lists, you will need a cash register.

4. After the registration documents are entered into the Commercial Register, a 7-day legal period begins, within which they must issue a registration decision. Once the company is registered, you can start operating immediately.

5. Although we have contract templates that we can provide when working together, our advice is to contact a lawyer so that he can draft a contract that meets the specific needs of your business and your clients and can fully protect your interests.
We hope we have been useful to you!
Greetings!