Company types in Bulgaria
The most sufficient and popular type of the companies for business in Bulgaria are:
- Limited Liability Companies – OOD, EOOD
- Joint Stock Companies – AD, EAD
All types of the companies are subject to registration in (i) the Commercial register to the Registry Agency of the Ministry of justice, as the documents can be applied on-line, via Internet and (ii) the local tax office according to the headquarters of the company.
Limited liability company (OOD/ЕOOD)
- Capital of Ltd. – the minimum registered capital is BGN 2 (EUR 1), divided into shares with registered value of not less than BGN 1. In case of single member limited liability company (EOOD) all the shares belongs to the single member- individual or legal entity.
- Management – the person or the company owner of the capital appoints one or more Managing directors who managed and represent the company, as a quorum of one Managing Director is sufficient to represent the Company. In case of two or more Managing directors they can present the company solely or jointly.
Joint stock company (AD) (EAD)
- Capital of JSC.-minimum capital of BGN 50,000 (EUR 25,000) divided into shares with registered value of not less than BGN 1.
- Management- the Board of directors of the company appoints one or more Executive directors between themselves who to managed and represent the company, as a quorum of one Executive Director is sufficient to represent the Company. According to the Article of Association of the company the Executive Director/s/ could be limited for certain decisions which can be taken only from the Board of the directors or by the General assembly of the shareholders.