Q: Do I have to register a company in Bulgaria in order to take part in public tenders? If I have a local partner, do I have to set up a joint venture in Bulgaria in order to take part in public tenders?
A: As a matter of first principles, any individual or organization can take part in a public procurement process in Bulgaria, irrespective of whether they are Bulgarian or foreign resident or registered.
Consortia and associations of such persons enjoy this right likewise.
However, the awarding authority would typically issue tender documentation containing precise requirements regarding the legal form, legal, financial and technical capabilities expected of participants in the tender.
It is a common for organizations to form joint ventures with local partners in order to more easily meet the requirements set by the awarding authority. Local partners may have good know-how and this may be one of the reasons why you wish to work with them, but you and they do not have to form a joint venture. A joint venture can be structured as either a new organization separate from those of the two joint venture partners or as a contractual arrangement negotiated with a local partner.
Bulgarian startups funded by UK investors
NBLO regularly advises Bulgarian startups looking to tap into the deeper pools of capital available in more established seed and venture capital markets.
The UK, US and Germany are most frequently the sources of funding which Bulgarian-related investees successfully access. Given our connections to the UK (two of our team are admitted to practice in England), we most often assist Balkan founders or Bulgarian startups who have arranged to raise from UK-specific sources.
© New Balkans Law Office 2019