Procedure for Company Formation in Bulgaria

when it comes to establish a company, it includes diverse actions that are essential prior to start a business in Bulgaria. Initially, a person requires to decide the kind of business. Following the Bulgarian Foreign investment firm, a Bulgarian limited liability company is one of the most reputed options for small and moderate businesses. There is also an alternative to incorporate a Bulgarian AD- the joint stock company, fit for numerous firms.

An entrepreneur who is from another country like Croatia or an investor from other nation can also establish a sole proprietorship, a branch office or representative office in Bulgaria in assistance of company formation Bulgaria specialists. The establishment documents should be shown to notary, the lowest share capital is deposited in the bank account, the notarized documents are registered with the commercial registrar at the Registry agency and not minimum, it should also register for VAT. Get lawyer’s advice for establishing company in Bulgaria as in other nations such as France.

Kinds of Bulgaria Companies

Bulgarian company is a kind of business particularly by the small and medium firms and it is created by members with the liability limited to their role to the capital in the company. It is extremely beneficial to start a company in Bulgaria as other laws, it doesn’t require to submit the least share capital at incorporation.

The major documents to create a company in Bulgaria as a limited liability firm essential for registration are the articles of incorporation and the memorandum of association. This kind of company is managed by a director chosen through a meeting of shareholders. The company name should be exclusive.

Another type of joint stock firm in Bulgaria that is a kind of company made for major business and it should be incorporated by minimum two people or two agencies. The company name should not match or similar to others. Opposite to limited liability company, it must offer a least share capital of around fifty thousand BGN divided into shared with the least value of 100 BGN.

The base of every joint stock firm follows the by laws of the company, comprising of name and registered address of the firm, its objectives, information about the capital stock and shares, the beneficial members name and the kind of benefits, the modality of selecting the board of directors and supervisory board, changing or liquidating the entity. The crucial variation between the closed Bulgarian AD and the open Bulgarian AD is just based on the shares traded for the last time at the stock market.

An individual entrepreneur can register for sole proprietorship in this country. The entrepreneur is totally responsible for the company’s debts and can be advantageous from the complete profits of it. It doesn’t include need for least share capital for such kind of business incorporated in Bulgaria and in the liquidation condition, the owner doesn’t need to take separated liability from its business and his personal assets may be influenced by through this procedure.

The general partnership in the country is produced by two or more people with the numerous liabilities combined following the same name and with the same economic objectives. With the help of company formation advisors in Bulgaria, it becomes easier to start your business.

Olsen and Partners is a reputed company that offers payroll services, accounting services, tax services, business finance and advisory services, etc. They even help with company formation in Bulgaria. They strive to offer personalized services.