Say you’re bootstrapping a side project or want to start your freelance career, but you are not sure yet whether and when you will generate revenue with it. Registering a company or registering as a freelancer would be too much overhead at this point. With the Bootstrapper plan, we’re hosting your project or early freelance business within the co/company legal entity. It allows you to start billing early customers up until to the point when your project is generating enough revenue to justify setting up a separate legal entity for it or registering as a freelancer.
For each Bootstrapper, we keep a separate account within our shared company, so you can easily see how your early business is doing. You can file expenses to be deducted from your revenue to avoid generating taxable profit.
In case you should generate profit and want to take the money out, you can easily do so. For each payout, we’ll take care of paying the 10% flat income tax and social security for you without having to register as a freelancer or even a business.
Start your side project or freelance career without having to register a company. Starting a Bootstrapping subscription is so easy, you can do it while being at a coworking BBQ - and launch your project or start invoicing customers through co/company immediately.
Your customers will receive invoices from co/company which is VAT registered. Even as a natural person without a registered business in Bulgaria you can thus interact professionally with B2B clients.
You're not employed by the co/company, but just a contractual partner. In case you want to take money out, you'll be paying taxes and social security in Bulgaria - and co/company will handle that for you. No worries.
You can cancel your subscription at any time. You simply withdraw all your funds from your virtual bank account.
To make the Bootstrapper subscription easy to enter and leave it's necessary to keep the management effort low. That's why you can only submit a limited amount of expenses and not accumulate assets (e.g. buying a laptop, car or house etc.).
This includes the accounting services for handling your bootstrapped project / freelance business and the co/company subscription fee.
Get in touchYou have to pay taxes and social security contributions whenever you choose to get a payout from your early revenue. To help you calculate what that means in terms of "money in your pocket", you can run your numbers through the calculator here. Enter your expected monthly or yearly gross payout and we'll tell you what you can expect to be left in your pocket (net payout).
With Urban Challenger, Daniel and his brother are gamifying city exploration. They have built an app with challenges to complete and compete against your friends or colleagues. They have run rallies for teams from well known companies such as Facebook and Audible, but the project is not yet generating enough revenue to justify a separate business entity with high maintenance cost and accounting effort.
The Bootstrapper subscription is the perfect solution to host their project until it is more solid and they are generating enough revenue to pay the accounting fees for a separate business entity.