Businesses often set up a Foreign Branch for the purposes of expanding their operations.
Features of the Bulgarian-based foreign company branch:
- The Bulgarian branch is a separate part of the already existing international company but not an individual legal enterprise
- Any foreign company, which is a legal entity in its home country may set up a branch in Bulgaria
- The branch becomes as a department of the company – it is free to conduct business operations for the foreign company
- All assets and liabilities of the branch are owned by the foreign company
- The income of the branch is taxable in Bulgaria
- The Branch has its own Accounting & Balance Sheet