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Форум за счетоводство - Веста Консулт » Чуждоезични форуми » Forum in English » BANK ACCOUNT OF A COMPANY WHICH IS OWNED BY FOREIGN COMPANY
BANK ACCOUNT OF A COMPANY WHICH IS OWNED BY FOREIGN COMPANY
MuchakovaDate: Friday, 13.11.2015, 10:42 | Message # 1
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The topic, which I choose for this article is one spiny question- a small one , but which costs a lot of time and needles. If this
information is helpful, I will be happy.
The procedure is opening of a bank account of a company when:
- The owner of the Bulgarian company is another company, which is a foreign legal entity or entities.
What happens usually?
The company is registered and filed in the Bulgarian trade register. The manager of the company goes in favorable
bank and tries to open a bank account of the company. And the answer is
“NO”. This happens because the bank policy is to reach information about
the owner- an individual person who owes the whole company with all of
its subsidiaries including the subsidiaries in Bulgaria.
Usually these documents ought to be represented before the Bulgarian authorities
who give the permission of the registration of the Bulgarian companies.
And they have electronical copy in the web site of the Bulgarian Trade
register. The electronical file of the Bulgarian companies (not only the
general statute) may be opened by remote access or with an electronical
signature. In the majority of the cases the bank officers do not have
such remote access or electronical signature. This is the reason why
they can’t reach this data and they demand it by the customers.
What can you do in this situation? You may go to the Registry Agency and to
ask for extracts of certified copies of the electronical file. You do
not need everything. Just:
- Written statements for the decisions of the owners to start a company in Bulgaria and these decisions are taken
by right people
- The translated and legalized copies of extracts from the foreign trade register, where the legal entity- owner of the
Bulgarian company is registered. From this extract the bank officers may
get information about who is the owner- physical person, who may manage
the foreign company, who may take decisions and to represent it and who
may grant rights to the Bulgarian manager. In short it is a document,
which tells on what base and by whom the Bulgarian manager has his
rights.
This trip to the Registry Agency may save you a lot of time, research
at the last moment for another bank, which may not have such a demands
without this complication, and the deception that in order to have a
bank account here, you will have to issue, legalize and translate again
all documents, needed for the registration of a company.
If the electronical file of the company in the Bulgarian trade
register is a bit older, this is not a problem. All changes which happen
in the foreign company-owner, have to be reflected in the Bulgarian
trade register as well when they are main obstacles. This obligation
belongs to the owners (partners) and to the manager of the Bulgarian
company, so that the information in the electronical file to be actual
and correct.
I hope that you will find the mentioned above information useful.


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