A nil company, or a company without activity
After registering a new company, it often happens that the company does not start operating before the end of the year. Many owners mistakenly assume that in this case they have no obligations towards the state. A similar situation arises with existing companies that temporarily cease operations. In such cases the contract with the accountant is usually terminated, and there is no one left to remind the company of its annual duties.
This leads to fines and penalties accumulating even before real activity begins — or during a difficult period when work is suspended. To avoid this, it is important to remember the obligations that remain even if the company had no activity during the year.
Declaration for enterprises without activity
Submitted to the National Statistical Institute (NSI). It includes the company’s basic details, its current type of economic activity and its predominant form of ownership. The filing period runs from 1 March to 30 June of the year following the reporting year.
It can be filed on paper at the territorial statistical bureau, by email, using an electronic signature, or with a personal identification code (PIK) issued by the NRA.
Declaration of no activity to the Commercial Register
Since 2018, companies that carried out no activity in the reporting year are exempt from the obligation to publish an Annual Financial Statement — provided that a declaration of no activity is submitted to the Commercial Register by 30 June. If the deadline is missed, the company must publish the Annual Financial Statement on a general basis.
VAT returns
If the company is registered for VAT, it must report monthly, even when no activity was carried out. This includes filing returns, the purchase ledger and the sales ledger — including with zero values. Tax consulting will help you make sense of the registration regime.
Sick-leave notes and insurance declarations
If the company has employees on maternity leave, or the manager themselves is on such leave, it is necessary to periodically submit sick-leave notes to the NSSI and, monthly, insurance declarations to the NRA.
How we help
Accounting in Bulgaria removes the difficulties involved in managing a nil company: we monitor compliance with legal requirements, warn in advance about the actions needed and reduce the risk of fines. The service includes:
- Comprehensive support. We take on bookkeeping and reporting — when operations resume, the company transitions smoothly to full accounting services.
- Professional advice. We explain every question related to managing a nil company and support you at each stage.
- An individual approach. We adapt our services to the specifics of your company in order to minimise costs.
Contact us to find out how to avoid unnecessary problems and costs with a nil company in Bulgaria.
→ Prices for accounting services — the full price list: packages by number of documents, VAT registration and type of activity.