Investment Certificate Application Procedure to be Streamlined
Amendments to the Investment Promotion Act will relieve large investors in order to attract investments. Two documents will no longer be required by investors when they apply for a certificate of investment class or a priority investment project, namely the Certificate of Lack of Liabilities to the Municipality and the Criminal Conviction Certificate. The amendments have already been voted by the Council of Ministers.
From now on, the Certificate of liabilities will be officially collected by the Bulgarian Investment Agency and the Ministry of Economy. Nevertheless, investors who apply for investment support will have to confirm that they have not relocated the company they applied for over the last two years, as well as to commit not to do so in the following two years after the completion of the investment.
The amendments to the Regulation on the Application of the Act are to be further specified in terms of implementation of the financial measures for the construction of elements of the incoming technical infrastructure, as well as partial reimbursement of the expenses for insurance and training.
The amendments aim to support the effective promotion and attraction of significant investment projects in Bulgaria.
