istered for trading on an organized securities market. Another way to create a public company is through a business combination involving at least one public company - the surviving company will be public, too.Holding company is any joint-stock company, partnership limited by shares or private limited company. A holding company can hold interest in any form or participate in the management of and control over other companies. It can also conduct its own business, or hold interest in other companies and control them. The activities a holding can perform or is disallowed to perform are exhaustively enumerated in the Commerce Act.Branch - foreign legal entities registered abroad, as well as foreign individuals or persons other than legal entities can register a branch in Bulgaria if fully incorporated and entitled to conduct business activities under their national law. A branch of a foreign person is part of its parent company, but has a different seat. A branch is not a legal entity. However, it must keep account books just like independent legal entities do. Although branches are not legal persons, branches of non-resident companies have separate balance sheet and profit and loss account. They are subject to corporate income tax at the standard rate of 20%, and to other general taxes too. Foreign persons, entitled to engage in business activity under their national law, can set up representative offices. Representative offices are not legal entities and may not engage in economic activities. They are not subject to corporate taxation.Joint Venture is a company formed jointly by a Bulgarian and a foreign partner. The extent of the foreign participation in a joint venture is not limited. Joint ventures must take one of the forms of business entities under the Commerce Act. Establishing a joint venture is one of the forms of investing in Bulgaria. Other forms of business organizations are: General Partnership is a company founded by at lea...
