The Foundation is a non-profit legal entity (NPO). Тя е вид неправителствена организация (НПО) и се доближава до сдруженията като изискване за регистрация.
It is a type of non-governmental organization (NGO) and is closer to associations in terms of registration requirements.
A foundation is established during life or on death by a deed that grants property gratuitously to accomplish a specific nonprofit purpose.
The Foundation can be established in two ways.
1. By donation – when one or more persons donate property to achieve a specific purpose;
2. By will – when a deceased bequeaths property to achieve a specific purpose.
Founders may be natural or legal persons. For the establishment, a deed shall be drawn up, in which the following shall be indicated: name of the foundation, seat, objectives, type of activity, property granted, powers of the bodies representing. The founding act shall be notarised if the foundation is established by donation or, if established by will, by a notarised copy of the will and death certificate.
The founding act is adopted by a resolution of the founder, which also determines the governing body. The person elected as representative shall also certify a specimen of his signature.
The registration is made in the Commercial Register at the Registry Agency, and when filed electronically the fee is BGN 25 instead of BGN 50. If you have chosen a lawyer, you can authorize him to represent you, therefore all documents can be filed online.
If you need help registering a foundation, you can contact a good attorney to prepare the necessary documents and register the foundation.