Different Stages Considered During Bulgarian Company Formation

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.