The Legal Process of Starting a Business

Understand the legal process for setting up your company in Bulgaria...

Before you can start your business, there are some things you must so:

Authorities

On 1 January 2008 the Commercial Register Act (CRA) came into force. According to Bulgarian legislation, all companies are registered in the Commercial Register at the Registry Agency.

The registration has effect from the entry of the company into the Commercial Register, which takes place at the submission of an application form. The application for registration needs to be reviewed and the registration in the Commercial Register completed not later than the end of the first working day following the acceptance of the application form (in practice it could take longer for this process to be completed).

Basic steps for establishing a company

  1. Hold a general meeting of the partners of the company at which:
    • resolutions are passed for establishing the company
    • Articles of Association/Statute is adopted
    • management bodies are elected
  2. Adopt and sign Articles of Association/Statute of the company. In accordance with the type of the business structure, the Articles of Association/Statute may have different content. Generally it includes:
    • information about the name of the company (which has to be unique for the territory of the Republic of Bulgaria)
    • the address of management
    • the sphere of activity of the company
    • the amount of the subscribed capital and the amount of the capital paid in
    • the names of the partners and the way shares are distributed between them
  3. Pay the capital of the company into an escrow account and in the amount stated above. A banking document proving that the capital has been paid in is presented in the Commercial Register.
  4. Submit an application for registration and a package of documents in the Commercial Register (in accordance with Bulgarian law).

The registration is done by entering the company in the Commercial Register, which is an electronic register available online.

  • To access the Commercial Register online: Click here (in Bulgarian)

On registration, the company receives a unified identification code, which is unique for the territory of Bulgaria.

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