Registration of a Private Limited Company (a limited liability company) - "OOD"

It is a commercial company with share capital owned by its members whose liability is limited to the amount of the capital subscribed. A private limited liability company may be founded by one or more persons, including foreign natural or legal persons. The minimum foundation capital is Leva 2.00 divided into shares with nominal value of Leva 1 each. Contributions to the foundation capital may be paid in cash or in kind. The statutory bodies of the private limited companies are the general meeting of shareholders, which must be held at least once a year, and the manager or managers.

Here is a general explanation of what is needed to set up a private limited company in Bulgaria:
•produce its articles of association (Memorandum of Association - in the case of a single-person private limited company); the Law on Commerce stipulates the obligatory provisions of the articles;
•have appointed a manager (managers);
•have paid up its authorized capital, including each member's contribution.
This information together with details of the management, etc., is recorded in the Trade register.
Step-by-step Guide to Forming Private Limited Liability Company in Bulgaria
1.Call a constituent assembly for the company
2.Make a decision for the establishment of a Private Limited Liability Company
3.For a single member Private Limited Liability Company only: Adopt your articles of association
4.Elect your supervisory board of directors and appoint your management
5.Subscription of the capital stock – Minimum of 2 Bulgarian Leva (about 1 Euros)
6.Opening of a bank account by the management for collecting the cash installments
7.Get a bank certificate for the installments paid – the nominal value of the capial
8.Prepare the documents for the registration in Trade Register
9.Get your entry in the commercial register. Make sure that the registration is performed within three months after the constituent assembly of the company
10.By then the company registration is complete. But you are not completely done and there are a few more steps to complete:
11.Register at the territorial division of the National Social Security Institute (NOI)
12.This is it – by that time you should have a fully functional company

Registration of a single-person private limited liability company is called "EOOD"

It is owned by a natural or a legal person, the sole shareholder exercises the powers of the general meeting and the managing director or board of directors is appointed to run the company. A private limited company must prepare a balance sheet and financial statements each year.
Here is a general explanation of what is needed to set up a private limited company in Bulgaria:
•produce its Memorandum of Association; the Law on Commerce stipulates the obligatory provisions of the articles;
•have appointed a managing director (or board of directors);
•have paid up its authorized capital, including each member's contribution.
This information together with details of the management, etc., is recorded in the Trade register.

Step by Step Guide to Setting Up a Single Person Private Limited Liability Company in Bulgaria - (EOOD)
1.Decide on your company name and check in the current registers if it is available. If yes, then reserve that name for your company and keep your confirmation slip.
2.Compose Memorandum of Association
3.Form your company share capital of minimum 2 Bulgarian Leva, a little more than 1 Euros
4.Obtain your bank deed confirming that the registered capital has been paid
5.Appoint your management body
6.Obtain your registration in the Trade register
7.If needed, get a permit for your activities: some activities require issuance of a permit from competent government bodies before entering your company in the commercial register (Investment brokerage for example).
8.Wait for a publication of your registration in Trade register
9.By then the company registration is complete. But you are not completely done and there are a few more steps to complete:
10.Register at the territorial division of the National Social Security Institute (NOI)
11.This is it – by that time you should have a fully functional company

Notes
Normally, this whole process takes about 1-3 working days.
We can provide all these steps instead of you. Please feel free to contact us if you need assistance with this process.