The Bulgarian Commercial Law exhaustively lists the following types of legal entities, which could be established in Bulgaria:
- Joint-stock company (AD);
- Partnership limited by shares (KDA);
- Limited liability company (OOD), incl. Single-member limited liability company (EOOD);
- General partnership (SD);
- Limited partnership (KD).
For long-term investments, the foreign companies rarely use the General Partnership, Limited Partnership and the Partnership Limited by Shares as a type, because in these legal entities, either part of the shareholders (KD and KDA) or all of them (SD) have unlimited responsibility for the company’s obligations.
The most typical type of companies, used by the foreign capital, are the Limited Liability Companies (OOD and EOOD) and the Joint-stock Companies (AD).
Steps for Forming Private Limited Liability Company in Bulgaria (OOD)
– Choice of the name of the company.
– Sign the constitution act of the company.
– Make a decision for the establishment of a Limited liability company (OOD).
– For a single member Private Limited Liability Company only: Adopt your articles of association.
– Elect the supervisory board of directors and appoint the management of the company.
– Subscription of the capital stock – Minimum of 2 Bulgarian Leva (1 Euro).
– Opening a bank account for depositing the capital of the company.
– Get a bank certificate for the nominal value of the capital.
– Prepare the documents for the registration in the Bulgarian Trade Register.
– For further information please feel free to contact us should you need assistance with this process.