Last Updated on October 28, 2023 by Bulgarian attorney
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 to promote the foreign company’s activities in Bulgaria. 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 Bulgaria by a team recommended by Legal500, please get in touch.
The TRO 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 authorize 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 certification options, please get in touch with our team.
A set of company certificates has to be provided that shows directors, good standing, no liabilities and other company information.
Required documents vary based on the jurisdiction of incorporation of the foreign company. If you would like to set up a trade representative office of a UK company in Bulgaria, you have to provide:
- Certificate of Good Standing (COGS)
- 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 for apostilling documents in the UK.
How long does it take to set up a TRO
Our team will register your TRO within few days of receiving the set of company certificates and POA.
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.
TRO compared to real-estate investment of 312,000 EUR
By investing 312,000 EUR in Bulgarian real estate, you become eligible for a 12 months temporary residency card, just as you would if you registered a Trade Representative Office (TRO) for your foreign company in Bulgaria. However, it’s important to note the key difference between the two options: the TRO route requires spending a total of 30 months in Bulgaria within any 5-year period to be eligible for permanent residency.
On the other hand, with the property investment route, there is no requirement for a specific period of residence in Bulgaria. Instead, you only need to visit Bulgaria to renew your temporary residency card once a year for 5 years. This makes the property investment option a more flexible choice for obtaining permanent residency.
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 non-EU citizens who wish to promote and expand their foreign business in Bulgaria.
Our team will prepare a set of D visa application documents that you have to submit in the Bulgarian embassy or general consulate in your home country. Your D visa application will be considered within few months time.
How to obtain Residency card
The residency application has to be submitted no later than 2 weeks before the D visa expires. Residency application are considered within 14 calendar days.
Our team will prepare the entire set of residency application documents and accompany you through the process of submitting your application, provide biometrics and receive the residency card.
All Bulgarian residents (holders of a valid Bulgarian residency card) can apply for family reunification for their family members (spouse, children below 21, parents and parents-in-law). Rules vary based on the nationality of the Bulgarian resident. In the case of a non-EU citizen who registered a trade representative office in Bulgaria, the below schedule should be expected:
- Lodging a family reunification application with the local Migration Office.
- Applying for a Family D visa with the Bulgarian embassy in your home country or country where you reside on valid residency card.
- Applying for a residency card with the local Migration Office.
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 are eligible to apply for Bulgaria tax residency.
- There is no minimum required stay in Bulgaria to renew the residency card.
- You can change for permanent residency card if you reside in Bulgaria for 30 months in any 5 years period.
- Holders of Bulgarian residency can visit Romania, Croatia and Cyprus for 90 days in any 6 months period without visa.
- You may move your family to Bulgaria.
Change in the circumstances of a trade representative office
You can change any of the circumstances of your TRO:
- 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. The authorization requires a Power of Attorney to be certified. Changes in the circumstances take up to few days of receiving authorization.
If you have any questions regarding changes in trade representative offices, please do not hesitate to contact us.