Say you're doing some freelance work occasionally and you don't have any expenses. The Flex plan provides you with a cost-effective, low effort, peace-of-mind solution for your business from Bulgaria. With Flex, you're billing your client with the co/company as the invoice issuer. We take care of paying taxes and social security for you. You don't need to register as a freelancer or even a company.
With the Flex plan you're signing so called civil contracts with co/company. You're not employed by co/company, but contracted. This keeps the relationship comparatively loose - and thus easy to enter and easy to leave.
co/company is your client facing business entity in whose name you're writing invoices. But you'll be the sole beneficiary of the revenue. When your client pays you, we pay taxes and social security for you and forward the funds to your private bank account.
This includes the accounting services for handling your invoices and the co/company subscription fee.
With the Flex subscription you have to pay taxes and social security contributions whenever you choose to get a payout. 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).
I've recently sold my business and now I'm employed by the company in Canada that bought it. My former self-employment as the CEO of my start-up has warped into a regular employment as a product manager.
However, I'm still doing some stuff on the side as a freelancer. For those small jobs with occasional invoices to my clients I'm using my Flex subscription. It's a perfect solution: no overhead, low costs. Even the registering as a Freelancer or setting up a limited liability company would be too heavyweight for my situation right now.
To be honest, as one of the founders of co/company I was keen to create this kind of subscription because I had scenarios like mine in mind. People in-between stable situations, solopreneurs with small businesses focussing on a single client: I wanted to make it super simple for them to do business from Bulgaria.
cocompany EOOD
30-32, Gen. E.I. Totleben Blvd., fl 2
1606 Sofia
Bulgaria
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