I. General provisions
In view of the tax advantages that Bulgaria provides for foreign investors, and taking into account the country’s membership in the European Union, one of the often preferred forms of commercial activity in Bulgaria by traders from other countries is the establishment of a branch of a foreign trader.
The registration of a branch of a foreign trader in Bulgaria does not lead to the creation of a new legal entity, but only to a territorially and organizationally separated part of it. The branch has its headquarters, object of activity, a person who manages it, workers, etc. However, the branch does not own separate property other than that of its principal. Continue reading “Branch of a foreign trader in Bulgaria”
How to open a beauty salon/ hair salon/ beauty parlor in few easy steps?
- Company registration, by which you can do business in Bulgaria.
- Tax registration – voluntary under Art. 96 of VAT Act.
- Purchase and registration of a cash register (a fiscal device).
- Ensure a suitable object in which the activity will be performed – it can be hired (a lease contract is required) or private property (a title deed is required).
- The purpose of the property should be for business activity, in this context a change of status of the property may be indispensable.
- Certificate of commissioning.
- Observed requirements on fire safety of commercial property – a permit issued by General Directorate Fire Safety and Protection of Population.
- A notification for opening an object of public designation to the relevant regional health inspectorate and obtaining a certificate of registration after verification.
- Possession of a master certificate and registration pursuant to Skilled Crafts Act.
- Preparation of internal rules and operation instructions.
- Registration of working time of a stationery commercial site – it is done in the relevant municipality.
Continue reading “How to start a beauty salon in Bulgaria”
New rules for registration of non-profit organizations (NGOs) in BULSTAT Register in Bulgaria came into force on 01.05.2016.
The register now functions as centralized electronic registry which implements registration and issuance of reports and certificates of recorded circumstances. Thus any foundation, association, trade union organization or community center will have its own electronic file, similar to the Commercial Register.
The representatives of NGOs will have the opportunity to use automated electronic services of BULSTAT Register – to submit electronic documents and make electronic references. Continue reading “New rules for registration of NGOs in BULSTAT Register”
Business name (known as a firm) is the name under which the trader carries his occupation in Bulgaria and shall be signed. It must correspond to the truth, not be misleading and does not undermine public order and morality. Every firm has content prescribed by the law which may include indication of the sphere of activity, the persons involved and freely chosen supplement. The trader is obliged to write firm’s name in Bulgarian, as he could additionally inscribe it in a foreign language.
The trader has an exclusive right over the firm. It can only be used by the trader who has made the registration. It can’t be identical or similar to a trade mark or earlier registered company. The firm can be changed upon request of the trader who has made the registration. Continue reading “What should you know about the business name reservation in the commercial register?”