FINANCIAL INSTITUTION REGISTRATION IN BULGARIA
June 2, 2019
of a financial institution is a specific procedure regulated by the Credit
Institutions Act. Our team offers a full range of legal services and advice on
terms and conditions for licensing and carrying out activities of credit and
non-banking financial institutions in Bulgaria.
advice on capital requirements for the registration of a financial institution,
as well as on criteria for a significant activity. We can assist you if you
plan to establish/develop a business related to carrying out one or more of the
– financial leasing through a leasing company;
– guarantee transactions;
– dealing on own
account or on the account of customers in foreign currency and precious metals,
with the exception of derivative financial instruments on foreign currency and
precious metals, as a licensed investment or financial intermediary;
– provision of services
and/or performance of activities under Article 6, Paragraphs 2 and 3 of the
Markets in Financial Instruments Act;
– money broking;
– acquisition of
credit receivables and other forms of financing (factoring, forfeiting, etc.);
– acquisition of
holdings in a credit institution or another financial institution;
– granting loans
with funds, which have not been raised through public attraction of deposits or
other repayable funds, as a quick loan company.
We prepare all documents required for the entry in the register of financial institutions under Article 3a of the CIA. We render assistance in filing necessary documents in electronic form to the Bulgarian National Bank, as well as in filing documents in hard copy required for licensing in accordance with the requirements of Ordinance No.26 of the Bulgarian National Bank.
In the event
that you already own a financial institution in respect of which changes in circumstances
need to be made, we can assist you in preparing all necessary documents
(including those required for the Commercial Register with the Registry Agency,
if the change should be entered therein as well), including in submitting them to
with the requirements of the law, registered financial institutions under Article
3a of the CIA shall file quarterly and annual financial statements for supervisory
purposes in a form and with contents determined by the BNB. In view of
the requirements for filing financial statements only in electronic
form, which shall be signed by a qualified electronic signature of persons managing
and representing the company, authorised persons and persons who have prepared
them, we can also render assistance in filing financial statements provided
that we are duly authorized to do so as required by law.
We can also offer you to prepare documents and draw up contracts relating to activities of credit and financial institutions – quick loan companies, leasing companies, investment brokers, etc. We draw up general terms and conditions for non-banking financial institutions. We can provide you with a full range of legal services legal services for the activities of your credit and non-banking financial institutions.