How to open a beauty salon/ hair salon/ beauty parlor in few easy steps?
- Company registration, by which you can do business in Bulgaria.
- Tax registration – voluntary under Art. 96 of VAT Act.
- Purchase and registration of a cash register (a fiscal device).
- Ensure a suitable object in which the activity will be performed – it can be hired (a lease contract is required) or private property (a title deed is required).
- The purpose of the property should be for business activity, in this context a change of status of the property may be indispensable.
- Certificate of commissioning.
- Observed requirements on fire safety of commercial property – a permit issued by General Directorate Fire Safety and Protection of Population.
- A notification for opening an object of public designation to the relevant regional health inspectorate and obtaining a certificate of registration after verification.
- Possession of a master certificate and registration pursuant to Skilled Crafts Act.
- Preparation of internal rules and operation instructions.
- Registration of working time of a stationery commercial site – it is done in the relevant municipality.
What is an annual financial report?
The annual financial report gathers full information about the financial position of the company. It includes a statement for revenues and expenses, a balance sheet, a statement for share capital and a cash flow statement.
The financial report is drawn up for one financial year, coinciding with the calendar year – from January 1st to December 31st. E.g: If you have a company created on 01.12.2020, you need to submit a report on the activity carried out in 2020 – in this case only one month.
Who is obliged to announce an annual financial report?
All the traders according to the Bulgarian Commerce Act – this includes Limited Liability Companies (Ltd.), Limited Partnerships, General Partnerships, Joint-Stock Companies, Limited Partnerships with shares. The non-profit legal entities and the rest enterprises are also obliged. Continue reading
New rules for registration of non-profit organizations (NGOs) in BULSTAT Register came into force on 01.05.2016.
The register now functions as centralized electronic registry which implements registration and issuance of reports and certificates of recorded circumstances. Thus any foundation, association, trade union organization or community center will have its own electronic file, similar to the Commercial Register.
The representatives of NGOs will have the opportunity to use automated electronic services of BULSTAT Register – to submit electronic documents and make electronic references.
EORI number is used to identify legal persons and individuals based in the European Union, as well as those outside the EU, when performing customs activities in the EU.
With effect from 01.07.2009, for all economic operators in their interaction with the customs administration of a Member State of the European Community, it is necessary to have an unique identification number EORI (acronym for Economic Operator Registration and Identification). In this relation all companies and individuals sending and receiving packages/consignments need to obtain EORI number from the relevant customs office.
Some cases for which EORI number is required
A shelf company (also called “ready made company”) is a denotation for a company which is registered in the Commercial Register and has never conducted business activity. This kind of companies do not have any obligations, assets or liabilities.
Should I buy a shelf company?
It is a smart decision if you are applying for a project and there is a requirement the company to be registered at least 6 month ago – quite common in applying for EU grants/funding.
Ready made companies with a VAT registration
The types of business organizations, most often used in Bulgaria are a Limited Liability Company (LTD/LLC), a Joint-Stock Company (JSC), a branch and a trade representation.
- Limited Liability Company (LLC/LTD)
It is the business type most popular among investors and entrepreneurs because of the minimum capital requirements, simplified structure and management. LLC can be established by one or more persons – individuals and/or legal entities. Shareholders in LLC may be Bulgarian and/or foreign individuals and/or legal entities. Continue reading
If you decide to travel to Bulgaria, kindly read our guide in order to acquire general information what is required.
At first, check whether a visa is required for your country.
Visa Regime for foreigners with ordinary passports for a short stay (until 90 days) – check the list.
Visa Regime for foreigners with diplomatic and service passports – check the list.
Visa A (for airport transit) – The airport transit visa entitles the foreigner to cross or to stay in the international transit zone of the airport in the case of a transit landing or of changing flights for the purpose of continuing travel to another state. Continue reading
Community license for international road haulage
Registration of transport company
How to get transport license in Bulgaria?
It is necessary to have a registered company (regardless of the legal form – LTD., JSC., etc.) and its scope of activity is specified for the carriage of goods against payment. Registration of company which carries out transport activity has its own peculiarities, therefore you can count on our qualified legal assistance in registration of transport company.
What documents are needed for Community license for international road haulage?
If you plan to start a business in Bulgaria by a company registration or a commercial representation of your foreign business, it may be necessary to provide documents from abroad, subject to certification and legalization. This text will help you understand what is apostille, when and for which countries it is mandatory to be used and where it is issued.
For a document issued by a foreign state to be recognized by Bulgarian institutions, it shall be arranged in a way which depends on whether the respective state is a party to the Hague Convention, whether between the two states there is a Legal Aid Agreement that is still in force or whether this state does not fall in any of the first two groups.
Requirement for apostille