A Walkthrough You Must Understand for Bulgaria Company Registration
Are you an avid investor and looking where to put your money? Look no further than investing in Bulgaria. Bulgaria company registration now allows foreigners to invest as it is streamlined and you shouldn’t get jittery about the process. If you’re not present in Bulgaria you can apply for a power of attorney and a legal representative gets through with the process. But you can also seek the services of 3E Accounting service provider that will assist you in the registration. 3E Accounting is an attested consultancy firm that will offer business solution services from:
- Business setup
- Accounting and auditing services
- Legal and taxation services
- Incorporation services
- Human resource and corporate secretarial
Procedures for Incorporating Your Company
Now, the first step on Bulgaria company registration is choosing a company name that will resonate well with the market. So, ensure that the proposed name is distinct and simple. The National Registry approves the name where the suffix “OOD” for a Limited Liability company should show at the end of your company name. Further, the National Registry will reserve the name and issue a certificate bearing the approved name.
After you’re complete with the name registration, you can then register for a special escrow account essentially for an entity’s equity and legal registration. The minimum paid-up capital for a Limited Liability Company is BGN 2.
Before visiting the Registrar’s office, you must ensure that you have the following documents ready:
- Memorandum of Association/Act of Incorporation.
- Minutes of the last held meeting of incorporation.
- Certified specimen signatures of the entire elected managing director.
- A declaration consent signed by the entire elected managing directors.
- Documents of proof of payment of state fee for incorporation.
- Relevant business license or permit paid to the authorities.
For a foreigner planning to invest in Bulgaria, you can go for a Representative Office or a Branch. Moreover, Bulgaria company registration allows any inventor is setting up a Representative office to visit the Chamber of Commerce. Get all the relevant documents notarized with the Public Notary. By the law, you can appoint a representative through a power of attorney to conduct the process of registration on your behalf. You only have to ensure the all the identification documents of the representative are genuine and a person of high integrity.
The Company Act requires that you apply with the National Revenue Agency (NRA). Thus, to complete the process you’ll submit with you a foundation deed, documents relating to bank opening and an excerpt from the Commercial Register to receive the VAT number. Further, you can file your application electronically under that Tax and Social Insurance Procedure Code.
The Bulgaria laws stipulate that every new company must register with Social Security for employee’s purposes. In case you need assistance on the process, you can contact 3E Accounting for further clarification.
Having a registered office forms part of Bulgaria company registration requirements. You should then take the initiative and register for an office and address where you can receive correspondences and notices from relevant authorities.