Петък, 17 Ноември 2017

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REGISTRATION OF A FOREIGN REPRESENTATION IN BULGARIA

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Every foreign entity having the right to pursue commercial activities can establish its commercial representation in Bulgaria.
The trade representation carries out non-economic activities and it has not got the right to implement economic activities.
The activities of  the trade representation are limited to the organization of advertising campaigns, demonstrations, preparations of exhibitions and promotions.
The regulations for the foreign representation in Bulgaria are included in the Law for the Encouragement of Investments.
The applicant can be any foreign entity having the right to pursue commercial activities in compliance with their national legislation.

The necessary documents for the registration of a trade representation are as follows:

1. An application form and a duly filled-in Information Card of the Bulgarian Chamber of Commerce and Industry;

2. An official document for the registration of the foreign entity, issued by the respective competent organ in compliance with their national legislation;

3. An official document about the persons administering and representing the foreign entity, issued by the respective competent organ in compliance with their national legislation;

4. Decision of the Board of Directors of the foreign entity for establishing a commercial representation in Bulgaria;

5. Special power of attorney, endorsed by a notary public, in the original about the person empowered to register and manage the trade representation in Bulgaria as well as the volume of rights given to him/her;

6. Originals of the specimens of the signatures of the persons, representatives in the Republic in Bulgaria by their rights or through special authorizations, endorsed by a notary public or signed on a special declaration form of the Bulgarian Chamber of Commerce and Industry (BCCI) before an authorized officer of the Trade Register Office of BCCI.

7. A document stating the payment of the registration fee.

The documents as per Art. 2 and 3 above, having been issued in compliance with the national legislation of the foreign entity, have to be endorsed for authenticity and they have to be accompanied by a Bulgarian language translation.
The registration is implemented by the Bulgarian Chamber of Commerce and Industry or its regional representations.
The representation is subject to tax registration.
The persons who represent foreign commercial companies, having registered commercial representations with BCCI, can receive a residence permit for a period of up to one year (Art.24, line 1, point 6 of the Law for Foreign Residents in the Republic of Bulgaria) The residence permit can be renewed on the same grounds after the expiration of the legally specified term.
The commercial representation should have at its disposal only funds transferred from abroad for its maintenance.
The deals and the payments to local persons in the country, carried out by the commercial representation on its behalf or in compliance with an authorization of the foreign entity, will be deemed as independent economic activity, subject to taxation.

 

Sofia, 1113, "Izgrev" area, 16 "Frederik Julio Kiuri" street, block 155, parter, office 1; phone/fax 02 983 2187; e-mail: office@eurolex-bg.com