Registration of a trade representation office with the BCCI
08.09.2020 | 0 comments | 74 views | Categories: Procedures Registration of Companies
The Bulgarian legislation, in particular Art. 24 of the Investment Promotion Act, allows for the possibility that foreign persons entitled under their national legislation to carry on business activity may establish a trade representation office in Bulgaria. The registration of such trade representation office is done in the Unified Trade Register of the Bulgarian Chamber of Commerce and Industry (BCCI).
The trade representation office (TRO) has mainly subsidiary functions – it is used for popularizing the activity of the… Read the article
Opening of a branch of a company
15.10.2019 | 0 comments | 126 views | Categories: Procedures Filings with the Commercial Register
According to the Commerce Act every company may open a branch outside the residential area where its seat is located. The opening of a branch is carried out through its registration in the Commercial Register. Most often, companies take action to register a branch not so much for reasons of a legal nature, but rather for organizational and economic reasons – following from the specific features of the branch as a legal form for carrying out business activity.
Not only companies may open their branches – other merchants and legal entities are also entitled to do so (e.g… Read the article
The possibility of issuing bearer stocks will no longer be available
21.01.2019 | 0 comments | 123 views | Categories: News Registration of Companies
On October 23, 2018, the Law on amendment of the Commerce Act1 (LACA) was promulgated in issue 88 of the State Gazette. The law transposes the requirements of Directive (EU) 2015/849 of the European Parliament and of the Council of 20 May 2015 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing2 – more particularly those of Article 10, paragraph 2 requiring Member States to take measures to prevent misuse of bearer stocks (shares). Bulgaria’s legislative decision, as implemented through the amendment of the… Read the article
New law puts companies under the obligation to declare their beneficial owners
08.05.2018 | 0 comments | 160 views | Categories: News Filings with the Commercial Register
The newly passed Measures Against Money Laundering Act1 (MAMLA) was promulgated in issue 27 of the State Gazette, dated March 27, 2018. The new law transposes the requirements of Directive (EU) 2015/849 of the European Parliament and of the Council of 20 May 2015 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing2, its main goal being the achievement of greater efficiency in preventing the use of the financial system for money laundering purposes – through providing for various measures, such as: customer due… Read the article
Prohibition on transferring companies with debts
26.02.2018 | 0 comments | 139 views | Categories: News Transfer of Companies
On December 22, 2017, the Law on amendment and supplement of the Labour Code1 was promulgated in issue 102 of the State Gazette. The said law aims at ensuring additional protection of the rights of employees and workers in situations where their employers fail to pay outstanding remunerations (salaries, wages) and compensations – by introducing a prohibition on transferring companies with debts.
A number of safeguard measures have been introduced, including:
enhancing the control functions of the General Labour Inspectorate by granting it… Read the article
Registration for carrying out employment mediation activity
17.02.2018 | 0 comments | 84 views | Categories: Procedures Licenses and Registrations
Employment mediation activity includes provision, in aggregate or separately, of mediation services for: informing and consulting the persons looking for a job and the employers; psychological assistance to the persons looking for a job; guidance on vocational training; guidance and assistance on entering into employment, including in another settlement in the country or in other countries. The mediation activity is expressed in rendering assistance to the persons looking for a job and to the employers offering employment, aimed at the conclusion of an employment contract… Read the article