Trade Representative Office – Don’t Miss This Opportunity
Investments in Bulgaria are undoubtedly subject to serious interest from numerous foreign-based companies that execute many researches and analyses prior to taking any actions whatsoever. These very steps, part of the detailed analysis, are in the focus of our attention in the following article.
As a company specialized in consultancy services related to the first investment steps of international firms on the Bulgarian market we consider it appropriate to shed further light on one opportunity that seems to have remained in the shadow in comparison to the popular options of market research – “Trade Representative Office Registration”.
Very few consultancy companies seem to put any effort into providing clarification, let alone real services concerning such registration. And as you will find out later on, this opportunity shouldn’t be missed when speaking about the very popularization of a certain company’s activity aiming at qualitative and thoroughly objective view of the eventual opportunities that could be revealed on the local market.
The Trade Representative Office registration has several advantages:
- The realization timing is much shorter
- The bureaucratic realization setbacks are much fewer
- The fee is symbolic (60.00 BGN annual fee not dependent on the number of registered representatives)
- The trade representative (officially registered) has much easier current living permit conditions
It’s not difficult to see that this registration type represents an ideal option for companies practically willing to examine the local market – to decide if there could be some demand for their goods/services and simultaneously avoid rather large preliminary investment costs. Besides, this way they can assign that uneasy task to a reliable person (from the mother company itself) who can spend a certain period of time in Bulgaria as trade representative.
Of course, we should mention one important aspect of this registration – it has rather restrictive features in terms of the company’s actual activity realization, i.e. it cannot and must not be used for real trading purposes (stock exchange, placement, invoicing, etc.). The real economic activity through such form is prohibited. But that is exactly why we recommend this registration type at the “Market Research” stage.
Last but not least, we should take into consideration the fact that the trade representative office registration is relatively unknown in the business area. Hence, we strongly recommend that for such services you contact experienced companies in that field like „RPN Accounting”.
Do not hesitate – contact us!