Closing a company in Bulgaria is far harder than opening one – it takes more time and more money. No wonder many people try to sell companies they no longer need. The trouble is that potential buyers are often sceptical about such offers. Isn’t it risky to buy someone else’s company? Perhaps it is better to open a new one?
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There are situations where you need precisely a company “with a history”, one that has already existed for some time. For example, the age of a company is often an important condition for taking part in a particular programme or tender. In such a situation, buying a company is the best option.
So how do you protect yourself?
Contrary to widespread fears, a new owner risks nothing by acquiring a “clean” company with no debts and with all reports duly filed. It is especially good if the company was serviced by a single accounting firm and its entire history is easy to trace. The new owner bears no personal liability for the previous manager; the main thing is that all documents are in order at the time of sale.
The ideal option is a company that has not carried out any activity. Many people acquire companies solely in order to buy a car. Over time the owner obtains a permanent residence permit and re-registers the vehicle in their own name, and then hopes to get rid of the company. Such an acquisition is completely safe.
If the company has carried out activity, you should be more careful. In this situation a preliminary audit of the company is advisable, and the potential buyer is the one who should arrange it. If everything is in order and the company has no debts or encumbrances, the purchase can be finalised. In all other cases it is better to look for other offers rather than take a needless risk.
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