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Doing Business in Bulgaria

Forms of Business Organisation

1. Limited liability company;
2. Joint stock company;
3. Joint enterprise.

The most common type of organisation for foreign investors is a limited liability company. Other forms are companies limited by shares (joint stock companies), joint enterprises, business associations, general partnerships, limited partnerships and sole proprietorships.

Starting a Business

Legal Form: Druzestvo s Ogranichena Otgovornost (DOO)
Minimum Capital Requirement: 5,000
City: Sofia

Registration Requirements:

Procedure 1. Check if chosen name is available at the IS /information services; get certificate for the registered name

Time to complete: 1 day (15-30 mins)

Cost to complete: BGN 100 or BGN 102 (by phone)

Comment: This service is also available by phone. It cost 2 BGN more, but one has to get the certificate for the registered name and make the payment anyway.

Procedure 2. Obtain notary certified consent with a specimen of the signature of the company manager, certified Articles of Incorporation (2 copies – one to court, one to bank) and notarised Appendix to Articles of Incorporation.

Time to complete: 1 day (30 mins)

Cost to complete: BGN 48 (BGN 3 per page)

Comment: Notary's participation in certifying the specimen of the manager's signature is mandatory. All other documents require simple written form with the signatures of the founders.

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