Set up a Trade representative office in Bulgaria
One of the main purposes of registering a Trade Representative Office TRO of a foreign company in Bulgaria is the opportunity for advertisement of the company’s activity in search of new markets. Through this registration every international company can freely and legally promote its own activity or make research on the local market.
Although the opportunities are limited since the registration of TRO strictly prohibits economic activities, the main goal is to relocate your non-EU team to Bulgaria.
To get help with the registration of a trade representative office in Bulgarai by a team recommended by Legal500, please get in touch.
The Trade representative office allows non-EU citizens to obtain a D visa and Bulgarian residency card without employing 10 local citizens.
How to register a trade representative office in Bulgaria
The director of the foreign company has to authroize our team by granting a Power of Attorney certified with the nearest Bulgarian embassy or general consulate. There might be other available certification and legalization options in your jurisdiction. To learn more about the alternative certificaiton options, please get in touch with our team.
A set of company certificates has to be provided that shows directors, shareholders, good standing, no liabilities and other company information.
Required documents vary based on the jurisdiction of incorporation of the foreign company. For example, if you would like to set up a trade representative office of a UK company in Bulgaria, you have to provide only:
- Certificate of Incumbency
- Tax Return for the last two years
Certificates issued in the UK should be apostilled by the Foreign Office. Our team recommends the services of Hague Apostille as an affordable and efficient partner for? apostilling documents in the UK.
How long does it take to set up a TRO
Receiving the certified Power of Attorney and set of legalized company certiifcates, our team will complete the registration of your trade representative office within few days.
TRO compared to Branch
- You do not need to employ 10 local citizens to obtain a D visa as required under the branch route.
- You cannot be involved in economic activities and only promote your foreign business in Bulgaria.
How to obtain a Business D visa
The TRO is regulated by the Foreigners Act?which permits non-EU citizens to obtain a D visa and residence permit in Bulgaria. This opportunity is available to foreign nationals who wish to promote and expand their foreign business in Bulgaria.
Assistance can be provided to obtain a D visa and Bulgarian residence permit based on the registration of a trade representative office of your foreign company in Bulgaria.
Benefits of holding a Bulgarian residence
- You receive a Bulgarian residency card for non-EU citizens that allows multiple entries and stay in Bulgaria.
- You may renew your Bulgarian residency card for up to 5 years and change for permanent residency.
- No need to reside in Bulgaria to renew your residence permit.
- Holders of Bulgarian residency can visit Romania, Croatia and Cyprus for 90 days in any 6 months period without visa.
- The residency card can be exchanged for a 5 years permanent residency.
- You may move your family to Bulgaria.
Change in the circumstances of a trade representative office
If you have already registered a trade representative office in Bulgaria and you would like to change any of the trade office circumstances our team will assist with the following:
- Adding and removing representatives
- Changing the registered office address
- Closing the trade representative office
To change any of your trade representative office circumstances, you have to authorize our team to act on your behalf. The authorization requires a Power of Attorney to be certified. Changes in the circumstances take up to 3 working days after receiving authorization.
If you have any questions regarding changes in trade representative offices, please do not hesitate to contact us.