I would like to apply for immigration visa and residence permit in Bulgaria (EU) in order to expand my activities in the European Union by means of registering a Trade Representative Office (TRO). However, in my country of origin (or where I am living at the moment), I do not have any registered commercial entity (trading company such as Limited Liability Company, LLP, LLC, LTD, etc.). What are my options?
As is often the case, all good things in life are simple. As our experience shows, the most convenient and cost effective way to expand your activities into Bulgaria is through registration of Trade Representative Office (TRO).
Please visit our article about How to register TRO in Bulgaria (update July 31st, 2020)
So here are some options for your consideration:
1) If you don’t have registered commercial company in your country, you might still try to setup a new one. In some countries, registering local company can be a difficult undertaking, while in others it is relatively easy and affordable. Having your own company will not only enable you to register the Bulgarian TRO, but you may also use it for business purposes. It brings with itself of course some administrative load, such as submitting tax returns and accountancy records, however this greatly depends on the country of registration and the relevant laws.
2) Another option is to register Bulgarian Limited Liability Company that employs 10 local citizens. This option lacks the cost effectiveness of the previous one and is advisable to medium and large businesses.
3) If the applicant doesn’t have a company registered, he or she can apply to register non-profit entity in Bulgaria after permission from the Ministry of Justice. This option is advisable to applicants who are unable to register commercial entity in their country as per p.1 above. The legal load under this option is somewhat higher than the TRO registration fee, however it is still very cost effective.
4) The last, but not least interesting option is if the applicant is prepared to invest at least 600 000 BGN (306 775 EUR) in real estate properties in Bulgaria. This option is advisable to applicants who intend on expanding their business by means of real estate investments.
Other options available
There are other possibilities in the current legislation, however the ones mentioned above are the most suitable for the average immigrant. Please feel free to contact us for any information you might require. We believe, with our support and advise, you will soon have you immigration visa in your hand and can start a brand new life in Europe.