Execution of the minutes of the
meetings of the shareholders, obtaining the statement for consent which should
be notary certified and a certified copy of the article for incorporation are
essential requirements for Bulgarian company formation. You will also require some other
affidavits by the general manager of the company newly appointed. These should
include affidavit under the commercial act to state that the manager is not
involved in bankruptcy in anyway whatsoever. It should also include an
admittance that the manager will not indulge in any commercial activity without
the proper consent of the company and certainly not in personal capacity.
The affidavit should also include
that to declare that the circumstances that will be entered and applied in the
commercial register are true in all respects. All these actions usually take a
day’s effort. The paid-up capital should be deposited in the bank during the
business process, and therefore a bank account for capital accruing should be
opened to Open company in Bulgaria.
The people who will operate the bank account should also furnish the specimen
signature as well. Until and unless the registry issues any directives on the
registration of the company, the capital remains blocked in the bank account.
After such capital accrual, it is
time for Company registration Bulgaria
through the Registry Agency. A standard application form is used for the
purpose, and along with it, you will need to attach documents like agreement of
association, the resolution for manager appointment, specimen signature of
managers that are certified by the notary, and the bank's certificate for
deposition of capital. You will also have to pay the requisite fees for
scrutinizing the papers and documents by the Registrar. You should not forget to attach all the affidavits
that you have as per the commercial act and mentioned before. Such work process
usually takes a couple of days to complete.
All documents are to be reviewed by
the commercial register officials within the next working day provided all the
necessary documents are in proper order and furnished with the application to Start new Bulgarian company.
You will also have to register for VAT though the current threshold limits have
been abolished. Depending on the annual turnover in the future you will have to
keep ion the VAT registration. There is some specific ground in which such VAT
obligation depends on like the person is not established in Bulgaria and is an
EU member state, on the volume of goods supplied and much more.
You will also have to register the
fiscal device or the cash register. Such registration with the NRA usually and
automatically happens during the purchase. The provider of the fiscal device
submits a notification to the NRA to establish a connection along with all the
data. The connection may be rejected or accepted within the next seven working
days. This certified certificate for registration for making transactions via a
cash register. Therefore, when you want to start a company, it is imperative
that you follow all the rules, requisites and arrange for all the documents so
that registration does not take more time.
