How to Register a Company in Bulgaria . Legal steps for company set up
Many people use the business situation in Bulgaria and set up a new company, in the most cases the Limited Liability company (LLC).If you would like to establish a company in Bulgaria, please be advised of the following corporate forms existing under Bulgarian law. Our company lawyers in Bulgaria will recommend you the most appropriate form for your new business activity in Bulgaria as :
- Limited Liability Company;
- Joint-Stock Company;
- General Partnership;
- Limited Partnership;
- Partnership Limited by shares;
The registration requirements for each specific type of a company are defined in the Commercial Law. The procedure is the same for both Bulgarian and foreign citizens. Documents required are contained in the Commercial Register Law and the regulations for its implementation.
Basically, commercial companies are set up as legal entities separately from their founders. Regardless of their founders’ nationality, all companies registered in Bulgaria are considered to be Bulgarian legal entities established and functioning under Bulgarian law. Foreign equity participation in a Bulgarian company can be up to 100%. The incorporated companies get the capacity of legally established entities. That applies from the moment of their entry into the Commercial Register in Bulgaria which is maintained by the Registry Agency to the Ministry of Justice.
Applications for entry in the Commercial Register are based on application forms and can be submitted both in paper and electronically, according to the terms and conditions in the Law on Electronic Documents and Electronic Signatures.
The applications and attachments supposed to be submitted in Bulgarian language. Documents may be submitted in any official language of the European Union with an attached certified translation into Bulgarian. After entry into the Commercial Register on the basis of the data in the register, an ex officio registration of the merchant as a contributor to the National Insurance Institute is made, and also in the Register of the National Revenue Agency for tax purposes.
The time required for entry or deletion and announcement of documents in the Commercial Register of trade companies is immediately the expiry of three working days following the receipt of the applications, unless the law provides otherwise.Here you will find the information necessary about how to register a company in Bulgaria considering the company type chosen.
Bulgarian Registry Agency
International Law Office D. Vladimirov & Partners serves its clients in entries in a national administrative register maintained by the Registry Agency. We need to inform you that for every newly registered entity BULSTAT Register generates a unique identification code (UIC). This BULSTAT code is a unique identifier of businesses in the Bulgaria.
As experienced lawyers in BULSTAT registration, we are obliged to provide adequate information to our customers. All legal entities are required within 7 days from the occurrence of the obligation for registration in BULSTAT to entry in the National Registry Agency. For individual companies – it’s the manager, respectively the representative or explicitly authorized person. It represents the act for establishing the necessary documents at the registry office. Having a written authorization, we look for legal persons registered. This is important as the deadline starts from the receipt of the judgment.
Who is supposed to be entered in the register?
– Foreign legal entities with business activities in Bulgaria.
– Foreign entities owning real estate in the country.
– Legal entities and branches of foreign persons who are not traders.
– Branches and divisions of legal persons who are not traders.
– Branches and subsidiaries of foreign entities and entities beyond those who are insurers.
– Branches entered in the Commercial Register traders.
– Representatives of foreign persons under Art. 24 of the Law on Investment Promotion.
– Foreign individuals who do not have personal identification number or personal number of foreigner in purchasing real estate, regarding Art.3, paragraph 10 of BULSTAT Register Act.
– Unincorporated associations under the Law on Obligations and Contracts and insurance funds, under Art. 8 of the Social Security Code.
– Individuals freelancers or developing craft activities that do business or have independent personal services in the country, including through a permanent establishment or a fixed base or object.
The fees for the entry of new subject in the register are listed in Art. 8, paragraph 1 of the Tariff of state fees collected by the Registry Agency. For more information or registration of any of the above subjects in Commercial register, please contact us on + 359 897 90 43 91, or send us an e-mial to: . email@example.com