How does a foundation (NGO) register?


How does a foundation (NGO) register?
 
The foundation is a non-profit legal entity. I can set up a foundation in two ways:
 
by donation when one or more individuals (physically or legally) separate property for non-profit purposes;
through a will when an individual leaves his or her property to achieve a non-profit.
The creation of a foundation is always gratuitous - the one who creates it does not receive material benefits.
 
Who can set up a foundation?
The founder (s) of the foundation may be Bulgarian and foreign legal and enlightened individuals. The law does not require the number of founders, ie. there is no obstacle and a person can establish a foundation, or the gifts / wills of more than one person are aimed at creating a particular foundation. The founding of a foundation with wills is done only by individuals. In all cases, the founder has the right to revoke the constituent act until the foundation is not entered in the Register of NGOs (Non-profit Legal Entities) at the Registry Agency, where the registration is made, as of 01.01.2018.
 
The steps I have to take to create a foundation.
 
I choose a name
The name of the foundation must be written in Bulgarian (it may also be written in a foreign language), not to mislead or to undermine good manners. The name should be unique - so far no foundation of the same kind has been registered with such name in the Register of NGOs. The verification of uniqueness of the name is done free of charge on the website of the Trade Register and the Register of NGOs. If I wish, I can apply to keep the name in the Register of NGOs.
 
2. Prepare a constitutive act, which states:
the name;
headquarters - the settlement in which the Foundation's address is located
goals - there is a limit: they must not be commercial and should not contradict the law;
type of activity - public or private; (It is possible to record that the Foundation will carry out economic activity in addition to the core business as far as it is related to the achievement of its non-profit objectives.)
the provided property;
the organs of the foundation;
branches (if any);
the rules on the powers of the authorities;
rules on who will represent the foundation;
the period for which the foundation is established (if any).
3. I register the foundation in the Register of NGOs at the Registry Agency
When establishing a foundation, the following documents are submitted:
 
an application for entry made by the founder or a person or body empowered by him / her, the executor of the will, the heir or any of the persons who would benefit from the foundation's activity in accordance with the constituent act;
a founding act with notarized signatures (when a foundation is established during the lifetime) or a notary certified copy of the will and death certificate of the testator (in case of founding a foundation in case of death);
the decision of the respective body of the founding legal person to set up the foundation;
a certificate of preservation of the name of the foundation in case I have decided to keep it in advance;
the decision determining the composition of the governing body of the Foundation;
the decision to designate a representative;
samples of the signatures of the persons who will represent the foundation;
evidence of the property provided free of charge;
a document for a state fee paid for the registration of the Foundation;
other documents provided by law.
4. I register the foundation under the Money Laundering Act
Within 4 months of court registration of the foundation, internal rules for control and prevention of money laundering have to be adopted, which are sent to the Director of the Financial Intelligence Directorate of the State Agency for National Security for approval.
 
The following documents are required:
 
internal rules on anti-money laundering measures adopted by the governing body of the Foundation;
an accompanying letter stating the category of the NGO and UIC (unified identification code);
a document certifying the adoption of the internal rules by the competent body of NGOs.
NB! All copies must be certified "true to the original" and signed and stamped.
 
What else do I need to know?
After the successful registration of my foundation, I have to apply for registration in the Register of NGOs every single change within 1 month of its occurrence.
 
NB! If I already have a registered foundation before the change from January 1, 2018, I have to re-register it by December 31, 2020, and I submit an application to the Register of NGOs for this purpose. Re-registration is completely free and no state fee is due. A certificate of good standing is issued officially by the court registered by the NGO, which is sent to the Registry Agency. I keep my name as well as my code on Bulstart, which is already called the identification code. If I wish, I can apply for registration and new circumstances regarding the foundation, but they will


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How does a foundation (NGO) register? How does a foundation (NGO) register?