Romanian Bulgarian setup

[mrb]

Anyone here with experience of a Romanian or Bulgarian incorporation and domicile swap for EU citizens?

income coming from Ireland and Hong Kong/ Singapore.

Income friendly towards cryptocurrency assets (not from commercial trading) would be a nice bonus

 

[Willblack]

Both are crypto-friendly except their banks, which will close your account if you do anything crypto-related.

Incorporation is simple in both countries.

I have no idea what you mean by domicile swap, except the urban dictionary term.

I live in Bulgaria, so ask away.

 

[mrb]

That’s what I am asking about, whether the banks accept it or not. it seems they don’t

could you share more detail about the incorporation process, duration, costs, type of company

what are the req’s towards changing the tax residency (domicile) to BG / RO?
180+ days?

how strictly is it looked upon by the authorities?

 

[Willblack]

As per Bulgarian legislation, you can register multiple types of entities, however, you pretty much only use either OOD (basically an LTD), or an AD (basically a JSC).

Incorporation takes about 1-2 days for both and you will need a local lawyer for sure. The prices will run you about €300 for an OOD with all fees included, and probably about 500 for an AD.

Most lawyers can assist with bank accounts, but if you plan to do anything crypto-related, you can pretty much forget about banking here, let alone open an account remotely.

The tax residency rules are pretty much in unison with the rest of the EU.

The authorities are far from the most competent ones, but they will fine you whenever they can haha.