What is a freelance profession (freelancer)?
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Freelancer
(updated on 20.10.2024)
A freelance profession (freelancer) allows an individual to carry out activities through which they can legally receive payments from their clients and issue invoices. Clients can be more than one and may be based in EU countries or third countries.
This form may be more advantageous compared to a single-member LLC (EOOD) when providing professional services and can save you over 500 BGN per month. To find out if this applies to your case, contact us for a consultation.
Pros:
- You practice your professional activity legally (programmer, software engineer, architect, copywriter, (graphic) designer, psychologist, and many others);
- A minor can be registered as a freelancer by submitting documents from a parent/guardian;
- Easy registration;
- You insure yourself on the basis of the activity performed;
- You issue invoices to your customers;
- You benefit from 25% tax-free income;
- Income comparable to that received from an OOD of minimum insurance, but at the same time you are socially insured in a high amount;
- The income is yours, and you don’t have to wait until the end of the year to use it (as with dividends in an OOD);
- You don’t have to have a fiscal device (at the time of writing), you can accept cash without issuing a receipt.
Cons:
- Your insurance depends on your income level, high income means high insurance (minimum BGN 933, maximum BGN 3 750 for 2024);
- You are not insured for unemployment;
- It is necessary to submit monthly insurance declarations;
- Your income tax needs to be paid quarterly;
- Monthly accounting;
- Your occupation may fall within the scope of activities subject to patent tax;
- Full liability to creditors, suppliers or customers.
Is freelancing for you?
If you are a programmer/software engineer/copywriter/graphic designer working for a foreign client and wondering how to declare your income, this is your solution. This also applies to work through TopTal, Upwork and the like.
It is also the ideal solution for you in case you are performing a service and your expenses are not more than 25% of the income.
If your customer is in the EU, VAT registration is mandatory. If the customer is based in a non-EU country, VAT registration is not required, but each case must be considered separately.The use of services related to activities carried out by the EU and third countries also leads to mandatory VAT registration.
Want to register as a freelancer?
With us, it’s quick and easy, with very little intervention on your part.
We have performed registrations and accounting services for freelancers working for companies such as Viber, Coursera (Brownie Points) and many, many others. We have also held lectures on the topic together with Dev.bg.
We also offer paid consultations in connection with the free professions.
We handle registrations and monthly maintenance with minimal commitment on your part.
Have questions? Contact us
You can find more information on the website of our new project – https://www.freelancer-bg.com/.
Call us – 0898 69 3883 or write a message.