Offshore company service

Offshore company service

Question:
Hello!
I would like to ask you for an answer to the following case study:
A Bulgarian company, which is not registered under VAT, will perform consulting services for an offshore company in the Cayman Islands. Is there a case in which the Bulgarian company is obliged to register for VAT at the place of registration of the offshore company? Is there anything else that is specific and must be taken into account in the accounting of the Bulgarian company that performs this type of service?
Thanks in advance!

Answer:
Hello,
In accordance with Bulgarian legislation, there is no case in which, when offering a service in a third country, VAT registration in the relevant country is required. Unfortunately, we are not aware of the Cayman Islands offshore legislation and whether they would have a similar requirement.
We hope we have been helpful!
Greetings!