Website development company

Website development company

Question:
Hello!

I am considering opening a new company that will develop WordPress websites. The service will be provided on a monthly subscription basis, assuming that 99% of the clients will be from abroad. No other persons will be employed in the company.
What documents are needed for registration?
What type of commercial company will be most appropriate to choose?
What is the minimum threshold for initial capital?
Should the owner of the company (me) be insured after I am on an employment contract with another company?
Are there any specifics regarding possible payments from abroad after purchasing a subscription?
Thanks in advance!

Answer:
Hello,
Directly to your questions:

An application for establishing a company is submitted to the Commercial Register and an act of incorporation, minutes of the general meeting, a notarized specimen of signature, a declaration under Art. 13 para. 4 of the Commercial Register Act, a declaration under art. 141 para. 8 of the Commercial Act, an import note for the company's paid initial capital and an import note for the paid state fee. If the documents will not be submitted by you, you will also need a power of attorney for the person submitting them.
The minimum capital for the company is 2 leva.
You would be exempt from the obligation to pay social security contributions if you are already self-insured on some other basis or if you are already insured at the maximum social security income.
In connection with the provision of services to clients from abroad, there are several important points:
1. If your clients are legal entities in the EU, you are obliged to register for VAT no later than 7 days before the provision of the first service (first subscription) to such a person.
2. If your clients are individuals in the EU, upon reaching a turnover of 10 thousand. EUR sales to such customers per calendar year, you are subject to VAT registration
3. If your customers are individuals outside the EU, upon reaching a turnover of 100 thousand BGN in sales to such customers for the previous 12 months, you are subject to VAT registration. This turnover also includes sales to individuals and legal entities in Bulgaria.
4. If you receive services from legal entities from the EU, you are obliged to register for VAT no later than 7 days before receiving the first service to such a person.

When registering under items 1 and 4, you will not owe VAT on your purchases. You will only owe VAT under item 4 on the value of the services received, described in item 4.
When registering under item 2, you will owe VAT on your sales described in item 2, at a rate corresponding to the rate of the State from which your client - individual is located.
When registering under item 2, you will owe 20% VAT on your sales described in item 3.
We hope we have been helpful!
Greetings!