Establishment of an LLC

Establishment of an LLC

Question:
Hello!

I want to open an LLC with two partners. At first, the turnover will be small, but over time it will increase.
Questions:
1. Are all of them obliged to be insured if there is only one manager?
2. How long does it take to open a company and register for VAT?
3. What does VAT give me?
4. What annual expenses will there be for the documentary part - registration fees, insurance, cash register and contract for it, accounting services, etc.
5. Do you provide consultations and guidance (for a fee or free of charge)?
Thanks in advance!

Answer:
Hello,
1. The manager and all partners who work have the obligation to be insured. If the partners do not work, then only the manager has the obligation to be insured.

2. The maximum statutory deadlines of the NRA and the Tax Administration for company registration and VAT registration are 21 days. If the NRA and Tax Administration employees are not busy, it is possible that registrations can be completed earlier.

3. Depending on the basis for VAT registration (which in turn depends on the company's activities, turnover, customers, suppliers, etc.), there are different VAT application regimes and, accordingly, different regimes have different rules. In short, VAT registration leads to an obligation to pay VAT.

4. The minimum social security contributions are currently around 300 BGN per month for each self-insured person. Accounting services will vary - different colleagues will offer you different prices. Annual fees for cash register maintenance are around 150 BGN. If you have people on an employment contract, you will need to have a subscription to an occupational health service - depending on the number of people on an employment contract, their prices vary but start from around 200-300 BGN per year.

5. We offer consultations in the field of tax and accounting legislation, and for our clients, the consultations are free of charge.
We hope that we have been useful to you!
Greetings!