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In Plovdiv, Bulgaria, the process of creating a legal business entity involves several legal steps, known as Business Registration. This process is guided by the Bulgarian Commercial Code and other related laws and regulations mandated by the Bulgarian government. Regardless of the type of business one wishes to establish, be it a sole proprietorship, partnership, or corporation, the legal procedures involved include acquiring a unique identification code (EIK), registering with the National Revenue Agency (NRA), and the Commercial Register.
Business registration can be a complex process. Knowledge of local law is essential to avoid misunderstandings and potential legal issues. A lawyer can provide the necessary legal advice and ensure all documents are correctly filled and filed. They guide you through the process of selecting the most beneficial type of business entity for you, understanding and meeting your tax obligations, and creating your company charter or articles of association, among other things.
Key aspects of local laws relevant to Business Registration in Plovdiv are as follows: the Commercial Code dictates the legal regulations for commerce, including business registration. The Law on the Register of Non-Profit Legal Entities outlines the procedures and documents necessary to establish non-profit organizations. The Trades Act contains requirements for obtaining a trade license for the business, and the Law on Accounting stipulates the basic principles for creating and maintaining business accounts.
The requirements include selecting the type of business entity, creating a company name, preparing the necessary documents (like memorandum and articles of association), registering the company in the Commercial Register, and obtaining an identification code (EIK).
Typically, it takes around one week to ten days from the submission of the necessary documents to the Commercial Register.
Registered businesses are subject to corporate income tax at a flat rate of 10%, value-added tax (VAT), and other taxes according to the Bulgarian tax laws.
Yes, foreigners can register a business in Plovdiv. However, there may be additional requirements, and a local legal counsel is highly recommended.
Yes, the application to the Commercial Register may be made online. However, digital signatures of all owners, obtained from the Information Services PLC, are required.
The Official Website of Republic of Bulgaria (www.bulgaria.government.bg) and the Bulgarian Chamber of Commerce and Industry (www.bcci.bg) are valuable resources. The National Revenue Agency (www.nap.bg) provides specific information on taxation.
If you need legal assistance for your business registration in Plovdiv, it's best to reach out to a legal professional who specializes in Bulgarian business law. They can guide you through the local process, provide sound advice, and prevent potential legal issues.
