You plan to expand your business? You can register a commercial representation of your company in Bulgaria.
Under the Investment Promotion Act foreign entities which are entitled to carry out commercial activity under their national legislation may establish their commercial representations in the country.
What is the procedure?
The procedure is regulated in Art. 24 of the Investment Promotion Act. Commercial representations of non-residents are registered in the Bulgarian Chamber of Commerce and Industry (BCCI). An applicant may be any foreign company which is authorized to carry on a commercial activity under its national law.
If you decide to apply you should provide the BCCI with details regarding :
- registration of your company under your national legislation
- information about the managing staff and people who represent the company
- decision of the management board of the company to open a commercial representation in Bulgaria
- the person who is authorized to register and manage the commercial representation in Bulgaria and the amount of the rights granted to him
Some of the neсessary documents must be certified for authenticity by The Ministry of Foreign Affairs of the issuing state and the Consular Office of the Republic of Bulgaria in that state, or by the Consular Office of the issuing state in Bulgaria and then certified by the Consular Department of the Ministry of Foreign Affairs. Some of the other documents must be certified by a notary.
All documents must be translated by an authorized Bulgarian translator and legalized by the Consular Department at the Ministry of Foreign Affairs. The application for registration shall be submitted to the BCCI in Sofia or in the regional chambers in the country. After filing of the application before the BCCI, the representation is registered.
You can receive written and verbal references and certificates from BCCI for the status of registered commercial representations in Bulgaria.
Fees
The procedure is not free of charge and state fee must be paid.
Restrictions
We should note that the commercial representation is not a legal entity and can not carry out any kind of business activity in Bulgaria. The transactions which you conclude with local persons shall be carried out under the order of execution of transactions by local persons.
Commercial representations are taxed on the social costs of staff recruited under an employment relationship and management. Some social expenses, which are income of a natural person, are taxed under the terms and conditions of the Income taxes on natural persons Act.
How this registration might be useful to you?
Commercial representation of a foreign company in Bulgaria is one of the preconditions for residence in the country for a long period of time.
A long-term residence permit may be granted to foreigners who are representatives of foreign commercial companies registered in Bulgaria. The permit may be obtained for a period of up to one year according to the Foreigners in the Republic of Bulgaria Act. The residence permit may be renewed on the same ground after the expiry of the statutory period of time.