In this article it will be explained what is the procedure and what documents are needed to allow a foreign natural person or legal entity to register a company in Bulgaria. The procedure for the registration of a company depends on several things: the first one is whether the future owner is a natural person or legal entity, and second the whether he or his legal representative will personally be present in Bulgaria during the registration.
In English both EOOD and OOD are written as LTD, in this article we are going to refer to them with their Bulgarian abbreviations.
The difference between EOOD and OOD is:
– EOOD there sole ownership,
– OOD two or more owners with the same or different rights.
EOOD and OOD are both capital companies with minimum initial fund of 2Lvs by the Law of Bulgaria. This means that for the establishment of the company it must be open an account in which to deposit the amount of the required capital.
The procedure for registration of a company by foreign citizens requires a personal identification document. The personal data from the identity card or the passport is recorded in the documents needed for the registration of the company. It is recommended that the company’s documents are bilingual: in Bulgarian language – the official language of the Republic of Bulgaria and the mothers tongue of the founder, or they can be in English. The purpose of this is that the owner of the company should be able to understand the content of the texts he shall sign, and which will be entered in the Commercial Register.
Foreign legal entity like a owner of Bulgarian company:
Moreover, when there is a partner which is a foreign legal entity it is required to present a current status of the entity from the Commercial Register of the country of registration. It is also necessary to have a written decision, which is the consent of the co-owners or the shareholders to register their company in Bulgaria.
If you have questions or would like to help you open your company in Bulgaria, you can contact us for advice or for an entire service.