Archive for October, 2009
Repair works on the road from Bourgas to Elhovo
We are glad to spread some good news about the road from Bourgas to Elhovo, which I am sure that will make happy everyone who has bought or is looking for a property in the area.
In the beginning of June 2009 repair works started on the road from Bourgas to Elhovo. The project is massive and includes total repairing of the full length of the road, which is now a part of the international road network, leading to the newest border check point between Bulgaria and Turkey – Lesovo. The road will be repaired according to modern standards and constructed with high quality, as it is financed by the EU. 65% of the project is financed by the European Investment Bank and the other 35% should be paid from the budget of the Republic of Bulgaria.
The full length of the road is 100km and it should be finished by the end of January 2011. However this summer, working hard, they managed to repair a big part of it. This project is a part of the massive project for road rehabilitation called Transit Roads. It includes the main roads, which connect Bulgaria with Turkey and Greece. These roads have become very important since our country has joined the European Union in 2007.
At present there are some speed limits in the parts which are being repaired and we advise you to be extra careful if you drive there alone. The parts, which have been already repaired, are nice, with new gutters along the road and new sidewalks in the villages.
Minimum initial capital of 1 euro for Ltd company in Bulgaria
Bulgarian Parliament approved the initial capital to be 2 BGN or approximately 1 EUR
The initial capital for the registration of a limited liability company (Ltd.) is reduced from 5000 to 2 levs. Now this is a fact by passing amendments to the Commercial Code on first reading. According to the Council of Ministers with the implementation of this measure the level of entrepreneurship in Bulgaria will increase, which means more jobs, new services and products.
The Chairman of the Parliamentary Economic Committee Martin Dimitrov commented that this is the first real reform act of the Parliament, and will help young people to do business. 
The measure was introduced in many European countries where the fee for registration of a company is just one euro.
The proposal for a symbolic capital for initial registration limited liability company was announced by the Government of GERB as one of the anti-crisis measures to stimulate business.
Bulgaria had had one of the highest levels of minimum capital in the world. The World Bank “How to do business” report defined previously that Bulgaria was the country with the 36-th highest capital of 181 countries. With a higher minimum capital are countries such as Mongolia, Lebanon, Mozambique, Congo, Benin, Syria.
Nearly 100 countries have zero minimum capital requirements. Among them are Australia, Canada, Ireland, Israel, New Zealand, Saudi Arabia, the United States, Great Britain, Japan, Singapore, Hong Kong, France and Malaysia.