Business in Bulgaria- Paving Your Path towards Success
When it comes to start-ups in Bulgaria, one is never short of options. Being a land of promising opportunities, Bulgaria continues to acquire the favor of investors from across the globe. There are several options when it comes to businesses in Bulgaria and the most common types are: Limited Liability Company or Public Limited Company.
An essential aspect of setting up a business in Bulgaria is registration of the company. The entire process of company registration in Bulgaria is simple and easy to follow. However, there is certain information that everyone planning to start a private limited company should know. This information is briefly listed below.
Trade Register
A great convenience offered to those planning to register a company in Bulgaria is the electronic register known as ‘Trade Register’. All the companies have to be registered with it. In addition, if you want to seek information about different types of companies, it is available at D&B Report Guide Bulgaria. More detailed information is available at Trade Register’s website.
Legal Requirements
When it comes to legal requirements of registering a company in Bulgaria, one document that must be referenced is the Commercial Code of Bulgaria. It is a great relief that the requirements are the same as those for Bulgarian residents and citizens because they are rather easy to fulfill. This is one of the sole reasons why investors consider Bulgaria an attractive market.
Company Registration in Bulgaria
As explained above, for any business to operate in Bulgaria, it should be listed with Trade Register. This commercial register is actually maintained by the Ministry Of Justice. Also, it is of utmost importance to register any changes in the company such as closing it. To register a company, the basic steps are as follows.
• Company Name: It is imperative to reserve a unique name for the company and to acquire a certificate ensuring the uniqueness of proposed name.
• Articles Of Association: Articles of association should be composed and submitted to the trade register.
• Share Capital: The Company should have a bank account where the share capital is deposited. For a private company, the minimum requirement is 5,000 BGN.
• Bank Deed: A Bank deed is needed certifying that a specific amount (minimum of 1 BGN) of capital has been reimbursed.
• Permit: A permit is needed to show authorization to operate business before a company is entered into commercial register.
• Completion Of Establishment: Every company needs a completion of establishment which is a court decision allowing a company to enter into commercial register.
Document Requirements
Documents that have to be submitted to the trade register are as follows:
• Memorandum of association
• Minutes of constituent meeting
• Registration application
• A notary certifying consent with signatures of managers
• Bank statement showing the deposited capital
• Receipt of paid taxes
• Declaration of compliance with Commercial Act
Bottom-line, the above information can help provide guidance on registering a company in Bulgaria to make the process as effortless as possible.
When it comes to start-ups in Bulgaria, one is never short of options. Being a land of promising opportunities, Bulgaria continues to acquire the favor of investors from across the globe. There are several options when it comes to businesses in Bulgaria and the most common types are: Limited Liability Company or Public Limited Company.
An essential aspect of setting up a business in Bulgaria is registration of the company. The entire process of company registration in Bulgaria is simple and easy to follow. However, there is certain information that everyone planning to start a private limited company should know. This information is briefly listed below.
Trade Register
A great convenience offered to those planning to register a company in Bulgaria is the electronic register known as ‘Trade Register’. All the companies have to be registered with it. In addition, if you want to seek information about different types of companies, it is available at D&B Report Guide Bulgaria. More detailed information is available at Trade Register’s website.
Legal Requirements
When it comes to legal requirements of registering a company in Bulgaria, one document that must be referenced is the Commercial Code of Bulgaria. It is a great relief that the requirements are the same as those for Bulgarian residents and citizens because they are rather easy to fulfill. This is one of the sole reasons why investors consider Bulgaria an attractive market.
Company Registration in Bulgaria
As explained above, for any business to operate in Bulgaria, it should be listed with Trade Register. This commercial register is actually maintained by the Ministry Of Justice. Also, it is of utmost importance to register any changes in the company such as closing it. To register a company, the basic steps are as follows.
• Company Name: It is imperative to reserve a unique name for the company and to acquire a certificate ensuring the uniqueness of proposed name.
• Articles Of Association: Articles of association should be composed and submitted to the trade register.
• Share Capital: The Company should have a bank account where the share capital is deposited. For a private company, the minimum requirement is 5,000 BGN.
• Bank Deed: A Bank deed is needed certifying that a specific amount (minimum of 1 BGN) of capital has been reimbursed.
• Permit: A permit is needed to show authorization to operate business before a company is entered into commercial register.
• Completion Of Establishment: Every company needs a completion of establishment which is a court decision allowing a company to enter into commercial register.
Document Requirements
Documents that have to be submitted to the trade register are as follows:
• Memorandum of association
• Minutes of constituent meeting
• Registration application
• A notary certifying consent with signatures of managers
• Bank statement showing the deposited capital
• Receipt of paid taxes
• Declaration of compliance with Commercial Act
Bottom-line, the above information can help provide guidance on registering a company in Bulgaria to make the process as effortless as possible.
