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Regional Business Development through the use of ICT-RBDICT

Regional Business Development through the use of ICT-RBDICT. How to establish a company in Bulgaria?. Legal requirements.

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Regional Business Development through the use of ICT-RBDICT

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  1. Regional Business Development through the use of ICT-RBDICT How to establish a company in Bulgaria?

  2. Legalrequirements • ForeigncitizensandenterprisesmaysetupcompaniesinBulgariaunderthesame conditions asBulgariancitizensandlegallyresidentpersons. The conditions aresetoutintheBulgarianCommercialCode (TZ). www.rbdict.eu 14/12/2012

  3. Legalforms of carryingon a business • Limitedliabilitycompany (OOD) ; • Publiccompany(AD) • Soletrader www.rbdict.eu 14/12/2012

  4. Therules of runninga business • PublicOffering of SecuritiesAct (ZPPTsK) • FinancialInstrumentsAct (ZPFI) • SpecialInvestmentPurposesAct (ZDSITs) Somestandardrequirements to becompletedwhensettingup a businessarethesameaswhenopening a branch www.rbdict.eu 14/12/2012

  5. Branches • Thestatus of branches of foreignbusinessesissubject to theCommercialCode(TZ). A branchisnotanindependentlegalperson, butpart of theparentcompany, eventhoughitmayhave a differentlocation, a differentmanagementanditsownassets. Branchesmustkeeptheirownaccountsasindependenttradersanddrawupanannualbalance-sheetattheend of eachyear www.rbdict.eu 14/12/2012

  6. Branches/Registration • An authenticatedextract of thebank'sregistrationcertificate; • Bankingactivity; • Articlesof incorporation; • Aplan; • Theorganisationalstructureof thebranch; • Annualfinancialreportsforthepastthreeyears; • Writtenagreementfortheopening of a branch; • Awrittendeclarationfromthebankingauthoritiesinthebank'scountry of origin; • Detailsof thepersons, responsibleformanagingthebranch; • Otherinformationanddocuments; www.rbdict.eu 14/12/2012

  7. Branches/Registration • ThebranchmustbeenteredintheCommercialregisterkeptbytheRegistryAgency; • ThebranchmustbeenteredintheCommercialregisterkeptbytheRegistryAgency; • Applications to register a brancharemadeon a formwhichmaybesubmittedelectronicallyorinhardcopy. www.rbdict.eu 14/12/2012

  8. Branches/Registration • Required documents for application: • a notarisedagreement, signedbythebranchmanager; • a copy of theagreementbetweenthecompanyandthebranchowner; • a certificate of registrationas a traderbytheforeignentity; • anauthenticatedcopy of thedecisionbytherelevantauthority to openthebranch. • Applicationform; www.rbdict.eu 14/12/2012

  9. Registering a company/Administrative procedures • Commercialregistration • RegisteringforVAT - mandatoryorvoluntary; • Mandatoryregistration: • whensupplyinggoodsforassemblyandinstallation; • distancesales of goods; • intra-communityacquisitions (IACs); www.rbdict.eu 14/12/2012

  10. Registering a company/Administrative procedures • Optionalregistrationanyonewhodoesnotmeettherequirementsforcompulsoryregistrationfor VAT mayvoluntarilyregisterforVAT; www.rbdict.eu 14/12/2012

  11. Registering a company/Administrative procedures • Applications  • VAT registration of foreignpersonsnotestablishedinthecountrybutcarryingouttaxablesupplieswhoseplace of performanceisinthecountry; • Competentauthorities: theterritorialoffice of the National RevenueAgency; www.rbdict.eu 14/12/2012

  12. Helpful links: • http://www.registryagency.bg/ Registry Agency • http://www.brra.bg/ Commercial register • http://www.nap.bg/?lang=en National Revenue Agency • http://www.fsc.bg/Home-en-1 Financial Supervision Commision www.rbdict.eu 14/12/2012

  13. Official site of the European Territorial Cooperation Programme “Greece-Bulgaria 2007-2013” : http://www.interreg.gr/ Thank you for your attention! Contact us: Regional Chamber of Commerce and Industry 23,Todor Aleksandrov, Str. 2700,Blagoevgrad +359 73885017/18 www.cci-bl.org Get involved: Visit our website www.rbdict.eu and dedicated platfoms Visit us on LinkedIn and related discussions Follow and participate in our events www.rbdict.eu 14/12/2012

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