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Sunday, 10 July 2011 09:40

The necessary legislations was introduced in 2003 whereby approved Joint Stock Special Purpose Investment Companies (SPIC) were exempted from tax. They are restricted to investing in Bulgaria and can only leverge 20% debt (via one year loan terms), but can invest upto 10% of their capital in indirect real estate eg mortgages, and upto 10% in affiliated 'service' companies. They must distribute at least 90% of net profits as dividends and list 30% of their stock, with 'institutions' holding another 30%. There is a minimum capital of half a million BGN / @Euro 250k which needs to be deposited in a bank. They also need to be licenced by the Bulgarian Financial Supervision Commission (FSC). Foreigners must pay a with-holding tax.

 

Last Updated on Saturday, 04 May 2013 03:08