Most commonly foreigners conduct business in Bulgaria through one of the following legal forms:
- a separate Bulgarian legal entity
- a branch office
- a representative office
Bulgarian legislation provides for a range of legal forms for legal entities, namely:
- limited liability companies (OOD and EOOD)
- joint-stock companies (AD and EAD)
- general partnerships (SD)
- limited partnerships (KD)
- partnerships limited by shares (KDA)
- sole proprietor (ET)
In practice, the most common corporate forms are limited liability companies (OOD –multi owner -and EOOD –single owner) and joint-stock companies (AD – multi shareholders, and EAD- single shareholder).
In order to obtain the status of a legal entity a company must be registered with the Commercial Register. The Commercial Register is a standardized and centralized electronic database kept by the Registry Agency under the Ministry of Justice. A separate file in electronic form is kept for each Bulgarian legal entity and Bulgarian branch if a foreign legal entity.
The documents required for registering the company are as follows:
- Valid international or domestic passport or national ID card of each of the directors (and/or owners /shareholders/ provided those are different individuals);
- Notary certified specimen signature of each director;
- If the company’s shareholder shall be a foreign entity – documents proving the existence of the said entity and its representative powers /excerpt from the foreign commercial register/. These must contain an apostil and be translated into Bulgarian language by a certified translator, the signature of the translator to be certified by the Bulgarian Ministry of Foreign Affairs.