Changes in TRO program

1POSTS

last year

Hey!

I've heard about the new proposed Foreigner Ack law changes that affects TROs, and requires a certain turnover (i think 500k BGN)

1. Do you know if the law has passed, or, when it will be passed?

2. How can a company prove such turonver? A large private foreign company wouldn't like to provide full economical data for obvious reasons. Will it be sufficient to prove, for example, that it has paid salaries in the sufficient amount?

Thanks!

See also

Visas for Bulgaria - Guide
Changing company account to Euros - 5 Replies
Change of address - 8 Replies
Another change of address question - 6 Replies
Changes for listening to BBC audio outside the UK - 10 Replies
Anyone with a TRO based in Veliko Tarnovo - 4 Replies
TRO vs Freelance visa for non EU - 4 Replies

gwynj Bulgaria Expert

2589POSTS

last year

@Mark Segal

1. Not yet, as far as I know. Certainly the TRO info at the BCCI (registration body) has not been updated to reflect any recent changes.

2. This link has all the requirements for a TRO registration. Most companies create some kind of accounts, even if they're not audited or publicly filed. If you think they're sensitive, you can prepare summary versions. You can also just put the key values into a BCCI declaration (Assets, Equity, Turnover, Profit/Loss) for the last couple of years. A bank reference is also mentioned, so if your bank will confirm your average balance or annual in/out, that might also be acceptable. Most folks will find it's easier to get an immigration attorney to guide them through the TRO process.

roywebb58 Active member

52POSTS

last year

all companies have to be registered somewhere and in the Uk its companies house, where all companies can be searched, and information easily obtained, I can not understand why you think a company would want to hide data which is a legal requirement of running a company.

Paid salaries do not really prove a companies turnover.

I am not aware if this change has been passed into law