Bulgaria, a member of the European Union since 2007, offers a strategic location, a favorable business climate, and a dynamic economy, making it an attractive destination for foreign investors. Establishing a trade representative office in Bulgaria is a viable entry strategy for companies looking to explore the European market. This article outlines the process for opening a trade representative office (TRO) in Bulgaria and obtaining a residence permit under Article 24, paragraph 1, point 6 of the Foreigners in the Republic of Bulgaria Act.
What are the steps to open a TRO in Bulgaria?
Legal Requirements: Registration with the Bulgarian Chamber of Commerce and Industry (BCCI): The trade representative office must be registered with the BCCI, which acts as the official registry for such offices in Bulgaria.
Documentation:
Application Form: Completed application form from the BCCI.
Certificate of Good Standing: Issued by the competent authority in the home country of the parent company, certifying its legal existence.
Power of Attorney: Authorizing the representative to act on behalf of the parent company.
Articles of Association: Certified copy of the parent company's articles of association.
Resolution of the Parent Company: Decision to establish a trade representative office in Bulgaria.
Proof of Address: Lease agreement or ownership deed for the office premises in Bulgaria.
Proof of the activity of the company for the previous two years.
Proof of paid taxes
Submission and Fees:
Submit the application and supporting documents to the BCCI.
Pay the required registration fee.
BCCI Review:
The BCCI will review the application and, if satisfied, issue a Certificate of Registration for the trade representative office.
Once the trade representative office is registered, the next step is to obtain a visa and residence permit for the foreign representative under Article 24, paragraph 1, point 6 of the Foreigners in the Republic of Bulgaria Act.
Eligibility:
The foreign representative must be duly appointed by the parent company to represent its interests in Bulgaria.
The representative must have a valid registration with the BCCI.
Required Documents:
Application Form: Completed application form for a long-term residence permit.
Certificate of Registration: Issued by the BCCI for the trade representative office.
Proof of Accommodation: Lease agreement or ownership deed for accommodation in Bulgaria.
Police clearance certificate: issued in the previous up to six months.
Health Insurance: Valid health insurance covering the duration of the stay.
Financial Proof: Evidence of sufficient financial means to support the stay in Bulgaria.
Passport: Valid passport with copies of relevant pages.
Photographs: Recent passport-sized photographs.
Submission: Submit the application and supporting documents to the Migration Directorate of the Ministry of Interior or the local Migration Office.
Processing Time: The processing time for the residence permit application can vary, but it typically takes around 30 to 60 days.
Approval and Issuance: Upon approval, the residence permit will be issued, allowing the foreign representative to reside and work in Bulgaria for the duration specified.
Opening a trade representative office in Bulgaria and obtaining a residence permit for a foreign representative is a structured process that involves registration with the BCCI and compliance with the requirements set forth by the Bulgarian immigration authorities. By following the outlined steps and ensuring all documentation is in order, companies can successfully establish a presence in Bulgaria and leverage the opportunities offered by this strategic EU member state.
Why Bulgaria?
Strategic Location: Positioned at the crossroads of Europe, Asia, and the Middle East.
EU Membership: Access to a market of over 500 million consumers.
Economic Stability: Consistent GDP growth and favorable business environment.
Skilled Workforce: Access to a well-educated and multilingual labor force.
Competitive Costs: Low operational and labor costs compared to other EU countries.
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