Isavella Evripidou

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Bulgaria InvestmentFirm Licenses

Licenses are granted by the Bulgarian Financial Supervision Commission (“FSC”) under the provisions of the Markets in Financial Instruments Act of 2007. Below please find features of the particular license categories in more details:

Feature/Category

TYPE A- Bulgaria Investment Firm License covers one or more of the following services:

• Reception and transmission of orders in relation to one or more financial instruments

• Execution of orders on behalf of clients

• Portfolio management • Investment advice • Dealing on own account • Underwriting and/or placing of financial instruments on a firm commitment basis • Placing of financial instruments without a firm commitment basis • Operation of MTF • Holding of clients’ funds

TYPE B- Bulgaria Investment Firm License covers one or more of the following services:

• Reception and transmission of orders in relation to one or more financial instruments

• Execution of orders on behalf of clients

• Portfolio management • Investment advice • Holding of clients’ funds

TYPE C- Bulgaria Investment Firm License covers one or more of the following services:

• Reception and transmission of orders in relation to one or more financial instruments

• Execution of orders on behalf of clients

• Portfolio management • Investment advice

Tied Agent- Bulgaria Investment Firm License

Type of company required to be eligible

Ltd company

Ltd company

Ltd company

Physical person or Legal Person

Corporate taxation

10%

10%

10%

*

Minimum paid-up statutory capital

730,000 EUR

125,000 EUR

50,000 EUR

Not required

Main requirements

Physical office, qualified personnel, Compliance Officer/AML Officer, Internal and External Audit, Accounting, Risk Management

Physical office, qualified personnel, Compliance Officer/AML Officer, Internal and External Audit, Accounting, Risk Management

Physical office, qualified personnel, Compliance Officer/AML Officer, Internal and External Audit, Accounting, Risk Management

The Tied Agent should be approved by a Bulgaria Investment Firm or from an EEA State

Timeframe

A complete license application is normally decided upon FSC approval within 6 months from the date of the final filing

A complete license application is normally decided upon FSC approval within 6 months from the date of the final filing

A complete license application is normally decided upon FSC approval within 6 months from the date of the final filing

A complete license application is normally decided upon FSC approval within 1-2 months from the date of the final filing

Government fees

3,200 EUR- 5,100 EUR *

3,200 EUR- 5,100 EUR *

3,200 EUR- 5,100 EUR *

*
GFSC GLOBAL can offer as well the following services in relation to the licence application, which include: 1) Opening of operational and clients bank accounts (worldwide). 2) Assistance with recruitment of personnel (e.g. Executive Director(s), Independent Non-Executive Director(s), other required qualified personnel) 3) Provide outsourced services, such as Accounting, Bookkeeping, Internal Audit, External Audit, Capital Adequacy calculation 4) Provide outsourced Compliance & AML Support services 5) Provide outsourced Risk Management services 6) Assistance with finding local premises 7) Assistance with Trademark & Brand Name registration 8) Provide in-house trainings/seminars 9) Provide Legal Opinions 10) Provide DPO & GDPR Advisory services

GFSC Global provides full Post Licensing support:

  • AML/ Compliance support, Risk management support, Legal services
  • Internal and External audit services
  • Capital Adequacy Calculation, ICAAP
  • In–house Seminars and Trainings
  • Registration of Branches, Rep. Offices worldwide
  • Legal opinions
  • CRS and FATCA reporting
  • DPO & GDPR advisory services

Apply for Bulgaria InvestmentFirm Licenses

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