How much time it takes for registration a company for foreign origin? - Page 2

Tania · #11 16-01-2007, 11:16 AM

It never took me more than two weeks to register a company! In some cases it took me only 3-4 days!!!
Hey Valio!!!!

thetravelbug · #12 16-01-2007, 04:03 PM

How when company capital has to sit in company account for certain amount of time, notice has to go in Gazette, checks on company name, actual registration and getting Bulstat etc...I am talking about the whole process from start to finish, not just the actual registration at the end when all the other stuff is done.

Tania · #13 17-01-2007, 10:49 AM

Should I give you the contacts of the solicitors I work with.
If it takes you too long, may be you should ask yourself why? Seriously, I work with different solicitors in different regions of Bulgaria and I never had to wait so long!

I am even very surprised! If you need me to give yopu contact details of good solicitors just let me know!

Best Wishes,
Tania

thetravelbug · #14 17-01-2007, 02:49 PM

I think you are missing the point Tania. This has nothing to do with having a good solicitor or it taking too long - this is the procedure. These are the rules for setting up a company - deposit has to be in account for set number of days, annoucement has to go in gazette....

Rachel

P.S I have a very good Solicitor thank you.

Tania · #15 18-01-2007, 10:06 AM

Ok, this is my last posting! Its getting really boring.....
How comes that most of the companies we open for our clients take no longer than 2 weeks /sometimes few days/?! May be in Stara Zagora Court are more busy than all other places!
I am not 12 to sit here and lie ; I do not want to play this silly game:
"I am right" "no, I am right" "I am right" "no, I am right"

Who ......... cares?!

#16 16-02-2007, 06:48 PM

hi all, i do believe that it does take upto 4 weeks to register a company and its going to be a few years yet before they change the law. When i purchased my property it took 4 weeks . and then the property is transfered into your buisness account.

Tracy

BGproperty Assist | BGproperty Assist can assist you with your property purchase in Bulgaria

prettypiggy · #17 24-10-2007, 11:18 PM

It takes more like a month than just 14 days with all the other registrations (apart from the court one) of the company. And let’s not forget that it’s not the foreigner that buys the land, but his Bulgarian company that’s a separate entity! Article 22 of the Constitution of Republic of Bulgaria says that foreigners may buy land according to the rules of the accession to the EU. The Accession Treaty of Republic of Bulgaria and Rumania to the EU (appendix 5, item 3. 2) stipulates that Republic of Bulgaria keeps for 7 years the ban on selling land to foreigners. And indeed, if it is the foreigner and not his company that buys a piece of land in Bulgaria, what’s the company for! If it’s the Brit or the Irish who buys the land, he could save himself the time and the expense to set a company in Bulgaria. That’s why all the title deeds I’ve seen clearly state that a particular land estate is bought by the foreigner’s company and not by the owner of the company. It can’t be otherwise before 2014 unless the foreign citizen becomes owner by inheriting the piece of land.

Jain and Chris · #18 25-10-2007, 11:41 AM

Hi all

We have set up two Bulgarian companies now. One based in Sofia and the other based in Plovdiv. Both were done with different sets of accountants/lawyers.

Both companies took no more than 10 days to become active from start to finish.

Of course you can do this in less time than this even - there's always an 'express' way in Bulgaria

najnaj · #19 02-11-2007, 10:12 AM

Hi, guys,
Please, stop arguing and let help Raul and give him the necessary information :-)
Opening of a company in Bulgaria usually takes 3 working days, but just in case we advice foreign people to present in the country at least 5 days to be sure that will be able to complete all the legal procedures. Of course it is available if you have good lawyers and professional agents. If you purchase a property in Bulgaria you must present personaly in front of judge in Trade department of Regional Low Court for veryfication of your passport details, in front of Notary when you actually buy the property and in the bank brunch when you complete the aplication form for opening an account. IT IS NOT NECESSARY TO STAY TO THE VERY END OF THIS PROCEDURE! Often it is impossible - to waste 3 or 4 week only to wait BULSTAT registration or a stamp?!? Absolutely obligatory are the 3 steps I mentioned above, after that you could leave power of attorney of your agent to move the things.
That's why it is much better and easyer if you rely on big and reputable agency with foreign languages speaking people and long business experience.

Jain and Chris · #20 02-11-2007, 10:32 AM

Hi Najnaj

We've opened two companies now in Bulgaria (one for our business and the second for our house purchase). In neither instance did we have to attend personally in front of the Trade Department, nor at the notary signature. Both of these were done by power of attorney. We also have many thousands of readers who have done the same thing.

Even for the bank account, the first time we opened one, our lawyer did it for us, we didn't even have to be present for that. The second time, we opened the bank account personally as we were in Bulgaria anyway.

It is actually best if you rely on an independent lawyer (not the one recommended by the estate agency) who will act solely in your interests.

All the best