A limited liability company is a legal entity where the risk of its members is limited to their contributions to the company’s registered capital. The company is liable for its obligations with its assets.
One or more local or foreign persons or legal entities may form a limited liability company. The registered capital of a limited liability may not be less that BGN 2 (approximately EUR 1). The share capital consists of the members’ interests that are divided into shares, and no interest shall be smaller than BGN 1. A share in a limited liability company is not considered to be a security under Bulgarian law. As a general rule, each member has a share in the company’s assets in the amount of which is determined in proportion to the shareholder’s share in the registered capital of the company. Dividends and voting rights are proportionate to the size of the shares.
The organs of a limited liability company are:
- the general meeting of shareholders
- the managing director(s) or manager(s).
|Name restrictions||The client may choose a name which must be unique. Please contact us in order to check if a specific company name is available.|
|Local address requirement||Yes|
|Minimum authorized capital||2 BGN (equals to 1 EUR)|
|Minimum number of directors||1 /regardless of nationality/|
|Director eligibility||Individuals only|
|Minimum number of shareholders||1 /regardless of residence/|
|Shareholders eligibility||Individuals and legal entities|
|Legal form||OOD or EOOD /corresponds to LLC/|
|Requirement for accounting||Yes|
|Corporate flat tax rate||10% on the net profit|