Bulgaria Company Formation
Are you interested in Bulgaria company formation? Here’s how you can set up a private limited liability corporation in Bulgaria.
Bulgaria offers its version of a private limited liability corporation called an EOOD, which is limited to the amount of available capital. Foreign nationals or corporations can form companies and fees vary accordingly.
The company formation in Bulgaria usually takes around five days if all documentation is in order.
There are different types of corporate structures you can choose to employ. An OOD company has a minimum of one director and one shareholder, and it can be an individual or a company.
Another option is an EAD company, which also has a single shareholder and must file balance sheets with the tax authorities annually.
Shareholders can be individuals or companies, and the director may also be a shareholder. There are minimum share capital requirements at the time of filing with proof that the required percentage at the time of capital has been paid. Managers may be appointed at the same time.
There are also meeting requirements, with the minimum being one shareholder meeting per annum.
Minimal documentation is required in the Bulgaria company formation process.
The documents required at formation are:
The Memorandum of Association
The managing board of directors, or the details of a single director, which will then be placed in the State Gazette and commercial registrar
Companies obtain registration from the district court closest to the commercial registrar, and the court decides upon registration. Upon its decision, the State Gazette lists the notification.
Bulgaria has very low starting capital requirements, and it takes approximately ten days to get an International VAT number if all requirements are met. There are a variety of agencies that need to be involved from the IS and Ministry of Justice to the Court Register and State Official Gazette, plus local tax authorities.
Statutory records are required, as is a shareholder register and a director register. The company has to maintain a local registered office with annual maintenance fees and record-keeping requirements.