Process of registering a limited liability company in Bulgaria
Before we look at the steps for registering a limited liability company (LLC), let's get acquainted with the essence of this legal form. A limited liability company is a company, which is established by two or more persons. The minimum capital for the registration of an LLC is BGN 2, which makes it highly preferred by most entrepreneurs. The other factor that ranks LLC registration among the most preferred legal forms is the limited liability of the partners. The owners of LLCs are liable for their obligations only to the extent of their capital investment, which makes the registration of an LLC one of the safest forms from the point of view of risk.
Required documents for registering an LLC
The procedure for registering an LLC begins with a founding meeting of the partners and minutes from the General Meeting of Partners, which expresses the consent of the partners for the registration of the LLC, as well as a decision of the general meeting to appoint a manager.
At the Constituent Assembly for the registration of the Ltd., the company agreement is adopted, which must contain the following provisions:
• the company's name, headquarters, and address of management; • the subject of the activity and the term of the contract; • the amount of capital together with the number of shares with which the partners participate in it; • rights and obligations of partners; • management and manner of representation; General provisions regarding distribution of profits and losses, as well as conditions for termination and liquidation of the company. The next step is to open a capital raising account with a Commercial Bank and obtain a capital contribution note that proves that you have contributed at least 70% of the capital contribution provided by the partners. when registering an LLC, the legally established minimum is BGN 2, and the shares of each of the partners cannot be less than BGN 1. After you have obtained an import note, you should notarize the agreement to accept management and a sample of the signature (specimen). A specimen is prepared for each of the managers of the company, and if we do not have one prepared, the notary office has the right to issue it. The next document required for registration is the partnership agreement, which must contain information about the company specified by law. After you have prepared all the necessary documents for the registration of a LLC, an application in form A4 should be submitted. The LLC registration procedure itself is carried out on the basis of this application submitted by the manager/managers of the company. The application for the registration of an LLC can be submitted both electronically and on paper, and in all cases it is expected that the documentation for the registration of the LLC will be submitted in Bulgarian or in any of the official languages of the European Union, but together with certified Bulgarian translation.
The procedure of registering an LLC
After the successful issuance and completion of all the necessary documents for the registration of a LLC, the official procedure for establishing the company should be started. When submitting an application for the registration of a LLC, a state fee of BGN 110 is paid, which is used to register the company in the Commercial Register. In the presence of an electronic signature, which allows submission of the application for registration of a LLC in electronic format, the state fee amounts to half of the standard fee, namely - 55 BGN. The option to register a LLC electronically not only optimizes the costs of establishment but also saves a lot of time and commitments on the part of the partners.
To relieve you of the administrative duties of registering an OOD, we at BulAdvice can provide you with full support during the entire LLC registration procedure. With over 15 years of experience in the field of accounting services, we at Buladvice have a rich portfolio of services that also includes both consulting and legal assistance. At BulAdvice, we are at your disposal for any inquiries you may have regarding the legal requirements for the registration of an Ltd. in Bulgaria and Europe. In addition, we are ready to prepare and submit all the necessary documents for you, if you do not want to go through all the stages of the LLC registration procedure yourself. регистация на ЕООД.
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