Setting Up A Business In Bulgaria
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Author: Vanya Alex
Article source: http://www.punditpreneur.com/. Used with author's permission.
Limited liability company (OOD) is one of the most popular legal forms for carrying out business in Bulgaria. The second form is joint stock company (AD). The common between them is the shareholder's liability - is restricted to the amount of his share in the capital of the company.
If an individual establishes OOD or AD, the one-man company is called EOOD or EAD. These forms are preferred by foreigners to acquire an ownership over land in Bulgaria. At present foreign individuals are not allowed to own land in Bulgaria. Any foreigner who wants to buy land in Bulgaria can do it through establishing a local company. Those restrictions will fall in 2014 at the latest.
The law in Bulgaria also provides for sole trader operations (ET), joint ventures, branches, holdings, cooperatives and representative offices. They all have to be registered with the district court, which is a process that usually takes 2 or 3 weeks.
It is absolutely necessary to use a consulting firm to handle the whole company registration process for you. Bulgaria Consulting aims to be the first point of contact for any firm seeking to enter the Bulgarian markets. Bulgaria Consulting is a Bulgarian-English company, based in Sofia, Bulgaria with representative office in London, UK. We offer a wide range of consulting services in Bulgaria for foreign companies interested in the region. For more information or to contact Bulgaria Consulting, please visit our web site: http://bulgaria-consulting.mybestshop.co.uk/index.html
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