Registration of a branch of a foreign trader in Bulgaria
In order for the foreign person to be able to enter its branch in the commercial register in Bulgaria it should have been registered with the right to engage in commercial activity under its national law.
When applying for registration of a branch in Bulgaria, it is obligatory to indicate data on the seat, the subject of activity of the branch, the person who manages the branch and the volume of his representative power.
In addition to data on the branch that will be registered in Bulgaria, the applicant should also indicate data on the patrimony - the foreign trader. These data include:
- the data on the legal form and the company name of the foreign person, as well as the company name of the branch, if it differs from that of the foreign person;
- the register and the number under which the foreign person is entered, if the applicable law provides for it;
- the law of the country applicable to the foreign person, if this is not the law of a Member State of the European Union;
- the persons who represent the foreign person according to the register in which it is entered, if there is such a register, the manner of representation, as well as the liquidators and the trustees in bankruptcy and their powers.
Changes related to the foreign person and the branch are also entered in the commercial register. These changes include:
- the changes in the entered circumstances, including the closure of the branch;
- the termination of the foreign person, the commencement of liquidation, the continuation of the activity, the termination and completion of the liquidation;
- all acts of the insolvency court, which are entered in the register in which the foreign person is entered, as well as other decisions in connection with ancillary insolvency proceedings, if any;
- the deletion of the foreign person.
Copies of certain documents related to the activity of the foreign person are also submitted to the commercial register. These documents include:
- the constitutive act, the contract or the statute of the foreign person, which contains all amendments and supplements, including after the registration of the branch;
- each annual financial report of the foreign person, after it has been entered or presented in accordance with the legislation of the country where it is registered.
Closure of the branch of a foreign trader shall be entered in the commercial register in the event of any of the following circumstances in respect of the foreign trader:
- the foreign person has been deleted from the register of the other Member State in which it has been entered and its deletion is not the result of a change in its legal form;
- in case of merger of the foreign person;
- in case of separation of the foreign person;
- in case of cross-border relocation of the seat of the foreign person.
The entry of a part of the data may also be done ex officio when the foreign person is entered in the register of another Member State of the European Union. The entry shall be made on the basis of a notification received through the Member States' interconnection system.
