Starting a business in a foreign country can seem complicated, but with the right legal tools, the process becomes much smoother. One of the most powerful instruments for simplifying company registration in Bulgaria is the Power of Attorney (PoA). It enables a trusted representative to act on behalf of a foreign founder, significantly reducing the need for physical presence.
What Is a Power of Attorney?
A Power of Attorney is a legal document authorizing another person or entity to act on your behalf. In the context of company formation, this means granting a representative, such as an accounting or legal firm like Balantrix—the right to handle all administrative and legal steps of the registration process.
Why Is a PoA Useful for Foreign Entrepreneurs?
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Saves Time and Travel
With a notarized PoA, the company founder does not need to travel to Bulgaria multiple times. In most cases, a one-day visit (or none at all) is sufficient. -
Simplifies Bureaucracy
The representative can submit documents, appear before notaries, register with the Trade Register, and even open bank accounts on behalf of the owner. -
Enables Remote Company Management
If structured properly, the PoA can also allow the representative to sell the company or make changes in the future, without requiring the owner’s physical presence. -
Ensures Compliance
Partnering with professionals ensures all documents meet Bulgarian legal requirements, avoiding costly mistakes.
Important Notes
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The PoA must be notarized and legalized, depending on the country of origin.
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It should clearly define the scope of authority granted to the representative.
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It’s advisable to include a specimen signature to be used for company registration.
Why Work with Balantrix?
At Balantrix, we specialize in working with international clients. Our team ensures a smooth, compliant, and quick setup of your Bulgarian business using a legally sound PoA.
Interested in starting your company remotely? Contact Balantrix today to get started with a Power of Attorney solution tailored to your needs.
