Foreign company branch

Description

Any foreign company, that is registered and legally doing business in its country of origin, has the right to register its own branch in Bulgaria. According to the Bulgarian legislation, a foreign company branch is extension of the main company, therefore it is not considered as separate legal entity in Bulgaria. Essentially, setting up a branch means separating part of the company’s activities to a location or country different from those where the company is registered. This means that the foreign company’s head office bears the ultimate responsibility for any liabilities arising due to acts of commission or omission of the Bulgarian branch. The branch office affects unlimited liabilities for the parent foreign company. However, the foreign branch must be registered at an address in Bulgaria, have manager/s, as well as its own property or assets.

Characteristics:

Name restrictions

The name must be unique. Our customer services center can check if a specific company name is available.

Local address requirement

Yes

Minimum authorized capital

No own capital

Minimum number of directors

1 of any nationality

Director eligibility

Individuals only

Requirement for a local director

No, but using a local nominee director is recommended under certain circumstances

Requirement for accounting

Yes
Corporate flat tax rate 10% on the net profit

Fees

Services included in the price

  • Preparation of all documents needed for the branch establishment
  • Translation of the foreign company documents in Bulgarian and their legalisation
  • Translation of the branch documents in English
  • Legalisation of documents notarised abroad
  • State fees and revenue stamps
  • Providing Certificate of Incorporation and Articles of Association translated in English

Price of the included services: 800,00 EUR

Optional services

  • Registered office + mailing address (300,00 EUR / per year)

Any company, no matter domestic or foreign one, must have registered office in Bulgaria to which communications and notices from government institutions will be addressed. The official registered address is also visited by tax authorities. If you want to save money from opening your own office, you can select the Registered office + mailing address service. We will answer with the name of your company and confirm that the company is registered at this address. We will notify you for any mail received and visits by governmental or other institutions.

  • VAT registration (130,00 EUR)

VAT registration is voluntary except in some cases. Contact us so we can check whether your business activities are subject to mandatory registration.

  • Obtaining an EORI number (100,00 EUR)

EORI number is required by the EU regulations for all entities sending and receiving parcels outside the EU. It is needed when dealing with customs administration in any of the EU member states.

  • Opening bank accounts in a Bulgarian bank (200,00 EUR)

Depending on your preferences and needs we can open bank accounts in different currencies. E-banking is available for account operations via Internet. Bank cards can be issued with a brand of your choice. There are only a couple of banks that allow remote issuance of a bank card. In most cases opening bank account is possible remotely without being present in the bank in person, but some banks reserve the right to request presence in person under certain circumstances.

  • Opening a virtual POS terminal (200,00 EUR)

The service includes: Concluding an agreement with a financial institution, preferred by the client Opening bank account Providing a programme code, which can be implemented on the client`s website. It is packed with the technical information you need. Assistance in the communication with the financial institution in connection with conforming to the technical requirements of the website.

  • Obtaining Apostilles on the Certificate of Incorporation and Articles of Association (60,00 EUR)

We will provide Certificate of Incorporation and Articles of Association translated in English. However, these documents do not bear Apostille. If you wish one for each document, check this option.

  • A company logo (80,00 EUR)

We will design a company logo according to your guidelines. If you do not have an idea of how your logo should look like, we will make 3 variations for logo to choose from.

  • Creation of a company stamp (30,00 EUR)

We will make a stamp for you in the shape, color and text you prefer.

  • Internet domain registration .bg (40,00 EUR / per year)

We will register a website name on your choice with an internet domain .bg. The name you prefer must be unoccupied.

  • Providing a Bulgarian landline number (20,00 EUR)

We will provide you with a Bulgarian landline geographical number (preferably prepaid) and you will have the opportunity to decide from which city and choose a number to your liking. After activating the number you will be able to use it through SIP from any device maintaining this protocol, such as computer and Smartphone.

Required documents

The documents required for performing this service are as follows:

  • Valid international or domestic passport, or national ID card of each of the directors of the Bulgarian branch;
  • Notary certified specimen signature of each director;
  • Certificate from a foreign commercial register (or a relevant authority), showing that the company has been registered in accordance with the local legislation, as well as the names of the individuals who are authorized to sign on the company’s behalf;
  • Articles of Association of the foreign company;
  • Notary certified power of attorney issued by the individuals who are authorized to sign on behalf of the foreign company, with which they authorize and appoint director/s of the Bulgarian branch.

After you submit an order and send your scanned passport, we will fill out all documents with your personal information, including your specimen signature and the power of attorney and will send them to you together with detailed instructions so you can read and sign them. After the foreign company’s documents, the powers of attorney and the specimen signature are certified in the respective country, you shall send these to Bulgaria as hard copies so we can translate and legalize them. All documents of the foreign company shall be translated to Bulgarian and shall be legalized by the Consular service of the Bulgarian Ministry of Foreign Affairs. These services are carried out by us and by our partner translation agencies.