You own a company in your home country and you want to advertise your company’s business in Bulgaria. As well as you want to settle in Bulgaria legally. Then the best option for you is to open Bulgarian Trade Representative Office (TRO) of your foreign company and to initiate a procedure of getting visa D for Bulgaria. You will find how to do that in this and next articles from our BLOG page.
The following article is intended to provide basic information about the legal procedures of registration of Bulgarian Trade Representative Office (TRO) and acquiring Bulgarian residence permit (visa D). This article is not а legal advise and if you need to discuss your case with our professionals, please do not hesitate to contact us through our CONTACT FORM.
What is a Trade Representative Office (TRO)?
Trade Representative Office (TRO) is not an independent legal entity, according to Bulgarian law. That means you cannot use the TRO for performing business in Bulgaria directly. The office cannot sell goods or services directly. The TRO serves mostly for advertising the business activities of mother company, which you have registered in your home country. Also, it is used to search on new markets and to creates new business links. The representative office receives the funds for its existence from the mother company. If you are wondering whether the TRO may employ its own staff, the answer is yes, it may if needed.
What do you need to register Bulgarian TRO of foreign company?
1. First of all, you need to have an active company in your home country with history of at least 2 years. The company should not have any public debts and taxes. This circumstances must be proven with documents for economic activity of the foreign entity for the previous 2 years, document for tax compliance of the foreign entity and documents for planned activities in Bulgaria. Most important documents your company has to provide are:
- Copies of the Balance Sheets and the Profit and Loss Accounts for the previous 2 calendar years;
- Certificate of absence of tax obligations, issued by the competent public authority of the home country;
- Official document certifying the current status of the foreign entity, issued by the respective competent registration authority.
There are some other documents that should to be provided, too – declarations, specimens, resolution of the managing body of the foreign entity, etc. Be aware that most of above-mentioned documents should be notarized by a Notary Public abroad, then they have to be certified for authenticity and accompanied by a legalized translation into Bulgarian language.
2. Besides the documents, another important legal requirement is your TRO to has an address in Bulgaria. It will be the official address of registration of your Bulgarian TRO. Having a company address in Bulgaria has to be proven by a notary certified rental contract or a notary deed. You will need also a legal representative of your company’s TRO. That could be you yourself or any other person.
Very important! According to Law for the foreigners in the Republic of Bulgaria up to 3 representatives of TRO are entitled to apply for residence permit (visa D). So choose carefully your legal representatives.
3. Registration fee for initial entry should be paid also. The fee is set out in the Tariff of Rates of services HERE. It is BGN equivalence of 170 EUR, calculated according to Bulgarian National Bank’s exchange rate.
How to register Bulgarian TRO?
After the documents are prepared and collected, you have to submit them before Bulgarian competent authority Bulgarian Chamber of Commerce and Industry (BCCI). The application and documents thereto can be submitted by the legal representative of your TRO or by a proxy. The documents are reviewed within a short period of 3 days. If all the documents are meeting the local requirements, BCCI issues a special Certificate for registration.
After receiving the certificate for registration of trade representative office, you can initiate the procedure of getting a long-term residence permit in Bulgaria. This permission gives you a right to stay legally in Bulgaria for a period of 1 year. The first step of this process is related to obtaining Visa D. More about the legal procedure of getting a Visa D for Bulgaria you may find in our next article HERE.
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