FAQs

The monthly maintenance fees are composed of incompressible costs, in particular the social security of the nominee-director, which is compulsory and based on a fixed rate calculated on the minimum wage in force in Bulgaria, as well as the internet and cell phone costs.

Accounting is also more complex than in other countries, and its cost is not negotiable. Accountants are organized in unions here, as are lawyers, who organize themselves to decide on minimum prices for their services. 

VAT and OSS (its extension in other European countries), represent costs at the time of registration and declarations.

The management of the address (notarization of the documents of this address as well as the rent), the opening of the mails and their scans, are also labor costs. 

Finally, the nominee-director, in addition to the social security, receives a salary from our company which includes the renting of his identity for the benefit of your Bulgarian company. 

The nominee-director is dedicated to one company only, he/she cannot represent the company of any other client.

Payment – bank transfer / credit card

The payment of the monthly installments is to be paid on presentation of the invoice each month, by credit card or bank transfer.

This invoice is composed of the fixed price due each month with or without the activity of your company, and the supplements invoiced, such as optional invoices or taxes to be paid on your profits or the tax on dividends.

We will tell you where to pay your bill, indeed some payment processors refuse to cover this service for foreigners.

Stripe, Payoneer, bank transfer are all options we offer, we accept BGN, RMB, USD, HKD and EURO.

Our entire team is at your disposal via our chat and email, we commit to respond within 24 hours, but often we respond within one hour.

We communicate in Bulgarian, English, French, and we currently hire Chinese speakers to increase your comfort.

Presenting your invoices and other documents every month is necessary for the realization of the balance sheets and is mandatory.

Without that we will not be able to work correctly and you risk litigations with the tax authorities.

Paying your invoices to Fenchell on time is of course mandatory. 

We are open-minded and want you to succeed in your business, so we are very tolerant of your goods or activities, however, if you commit fraud or present a danger to our company and therefore to our Nominee-director, we give ourselves the right to stop working with you. We will always talk to you first if we decide to do so.

Let’s develop a relationship of trust where there are no secrets! If you have any questions, come and talk to us. We are here to help you !

In case of refusal from the bank to open your bank account for your company, we undertake to reimburse you for your entire purchase.

To maximize the success rate we negotiate the opening of your company’s accounts in the 4 best banks in the country, but also with foreign banks and online services.

If several banks agree to open the accounts for your company, we will offer you the opening in these banks accordingly, and you can decide to keep all of them, so as to protect yourself from the risk of account closure that would jeopardize your business.

Generally speaking, in business we always recommend diversifying your accounts and your fundraising solutions in order to protect yourself in case of bank failure, freezing of your assets due to international sanctions, or simply to prevent hacking.

Concerning the account opening on marketplaces, we cannot guarantee it, because it depends on exogenous factors like your past on these marketplaces, or the history of the brands you sell, or the internal policies of each marketplace.

In our experience, Bulgaria has an excellent reputation and sellers open their accounts on marketplaces without any difficulty, provided they have a team member on site and provide real documents : utility bills of the company, real bank statements in physical and local banks, use of a local mobile number.

We do not offer refunds if one or more marketplaces refuse your application with or without using your Bulgarian company.

If you want to guarantee your account opening with or without your Bulgarian company, we offer account opening services on several marketplaces. Contact us for more information.

This is entirely possible, but it’s a different proposition.

In this case, our Nominee Director also becomes the company’s official shareholder, which fundamentally changes the nature of the company.

A specific contract is therefore drawn up to stipulate that you are effectively the owner of the company that our employee holds for you.

We can create this type of arrangement and “rent” you your own company – contact us directly for this special offer!

You can simply make transfers to your foreign company or to your personal accounts, or withdraw your money from your country using your bank cards.

Each action is accounted for and justified in the balance sheets, so remember to group your withdrawals or transfers together, and to name your actions.

You can, of course, pay your goods and all your suppliers with your Bulgarian company.

Your bank accounts are available in English.