11. Our first ‘meeting’ as company directors

by | Oct 18, 2010 | House & renovations | 0 comments

Some cheeky sightseeing.

 

We are now back in Sofia to set up our business. Boris the lawyer is unfortunately stuck travelling back from Burgas so we instead deal with his colleague Petya, who looks after us very well.

So we go to their office where a mountain of paperwork has already been prepared. As we suspected, our very silly company name has not already been taken so we get to keep it! It looks just as funny in the Cyrillic alphabet too! There are a number of documents – all written in Bulgarian on one side and English on the other. These include:

– Letter of engagement for the lawyer.

– Power of attorney (scary, but with very restricted terms) for Boris to deal with setting up the company in our absence.

– Affidavits to swear everything is truthful and we are who we say we are.

– (Hilariously) minutes of the first meeting of company directors (i.e. me and Rob). The minutes state that we have agreed the company name, that we are both to be directors and that the total assets of the company at this point are £100.

We then go to the local notary with Petya. Here the notary checks our ID and we sign copies of documents in front of him. Everything gets lots of official stamps on.

Finally, we go to a bank to set up the company bank account – this holds our £100 assets and is necessary to form a company. Petya, thankfully, translates for us the whole time.

The whole process takes about two hours and is fairly straightforward, if a little odd. Afterwards we have a very large beer to celebrate! Boris will now take over and formally register the company with the authorities. This registering process takes about four weeks, after which, our company can become the legal owner of our house.

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