Setting up a commercial agency – driven by our experience with foreign clients who wish to register a commercial agency in Bulgaria, we suggest that you inform yourself in advance on the following matters.
When can a foreign person register as a commercial agent in Bulgaria
When that person is allowed to conduct business in compliance with the law of the country in which the person is based.
Are there any specifics when doing business
A foreign person who has set up a commercial agency in Bulgaria may not conduct business on his behalf because he is not a legal entity. Any transactions entered into through its mediation are carried out on behalf of the principal (foreign person).
Any transactions with Bulgarian residents, if such transactions aim to satisfy the needs of the commercial agency, are entered into pursuant to Art. 24, paragraphs 2 and 3 of the Investment Promotion Act (in compliance with the procedure for transactions between residents).
The commercial agency must be registered in the Unified Commercial Register of the Bulgarian Chamber of Commerce and Industry (BCCI) despite its not being a legal entity and not being allowed to conduct business.
How to register a commercial agency and what are the fees
- An application form is required to be filed with BCCI in person by either the legal representative of the foreign person or an agent of that legal representative authorized through a power of attorney.
- Within 7 (seven) days of the date of registration of the commercial agency with BCCI, a registration must be completed in the BULSTAT register (pursuant to the provisions of Art. 12, paragraphs 1 and 4 of BULSTAT Register Act).
According to the BCCI tariff for prices and services, for the initial registration of a commercial agency of a foreign person, a fee in BGN must be deposited at the equivalent of EUR 120 as per the BNB exchange rate for the current date.
We – International Law Office „D. Vladimirov & Partners“ – offer you our assistance with the setting up of a commercial agency of foreign persons in Bulgaria. Contact us.