FAQs

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.

Yes. As we have just seen, if your company is already generating revenue, and has a very high market value, Fenchell can offer to buy your company at the end of your contract, as well as the accounts on the Marketplaces.

Typically we buy out companies at 8x their monthly profit as well as their assets, such as marketplaces accounts and trademarks. But we can spend more depending on the case.

For example, if your company generates 15,000 euros of monthly profit, we can offer you between 120,000 and 150,000 euros.

We can also offer you to sell your company at an action we will organize gathering several buyers. We will then take a commission on the sale, and we will take care of the contracts, bank fees and notary fees.

It is in our interest and yours to pay all taxes and keep your Bulgarian company in good standing, as the resale value of a profitable and honest company increases considerably, as buyers invest more in a company that is not threatened by legal proceedings, and has a sound history and traceability.

We can also close your accounts and your company permanently, upon your request, the remaining money is then moved to the accounts designated for such withdrawal.

This is absolutely impossible, as the Nominee-director is bound by an employment contract with us, which stipulates that he cannot act against the interests of the Customer or our Company, and he also risks imprisonment if he violates the rules of the contract, and a fine of several hundred thousand euros in the event of embezzlement.

What’s more, the Nominee-director will never have access to your bank accounts or credit cards, as this information is confidential and credit cards will be sent by our security service directly to your home, in a secure envelope with “high value” insurance.

The nominee-director cannot withdraw your funds, as he has no knowledge of the codes or name of the company he represents.

In addition, we open several bank accounts for your company, including online bank accounts, which enable you to store your cash and remain inaccessible to anyone except you, who can link your telephone number to these accounts, for example.

Finally, we have agreements and well-developed personal relationships with bankers who live in our city.

They know our company and our Business Center, our nominee-directors are our employees and are under our control.

We choose people who have a stable situation.

Opening a bank account or company remotely as a foreign citizen is no longer possible, even if you buy an existing company, you have to move or use a nominee director who officially occupies the role of director of the company, without actually managing it.

Banks require a Bulgarian citizen with permanent residence and a good reputation.

The Nominee-Director is bound to us by his contract, and puts his identity documents and person at our disposal during meetings with marketplaces or banks, or even the authorities if necessary.

The administrator is “rented” for the life of your company, and if the administrator leaves our company for any reason, a new administrator, whom we also manage, will be immediately assigned to your Company.

This means that your identity remains hidden from the Bulgarian authorities and, more generally, increases your security and reduces your personal risk.

Of course, we also protect our employee in the role of director against possible fraud, and we pay close attention to the use of your company and bank accounts, as the director is criminally liable and covers you in the event of problems.

In addition to company and bank accounts, we also register your company for tax and VAT purposes throughout the European Union.

We use a Bulgarian citizen, who is our employee, as a nominee director for your company, who is one of our employees.

This person is dedicated to your company and holds the position of company director.

The Director has the power to open bank accounts with us and partner banks, as well as to open telephone and Internet accounts for you, and to authenticate official documents.

However, the Director is bound to secrecy and has no power during the life of your company. You are the sole owner of the company.

Yes, we are the first law and accountancy firm to offer such a comprehensive service in the best tax haven in the European Union. 

Until recently, Estonia and Ireland were the best places to set up a company, but this has changed with the change in banking and tax policies.

No provider has ever offered a package that includes not only the companies, but also the bank accounts with bank cards, the Nominee-Director, and above all the company’s real internet invoices, essential for creating your accounts on the marketplaces. 

We’re the first to create such a comprehensive offering, and our competitors refuse to take such risks, especially at this price. 

For our part, we’re counting on a growing number of customers to consolidate our profitability, and we’re banking on Bulgaria’s growing strategic position to consolidate our position as number 1 in the sector.