What are the conditions to register a Private Limited Company in Bulgaria and how long is the process?
A39: Private Limited Company (a limited liability company) – “OOD” – it is a commercial company with share capital owned by its members whose liability is limited to the amount of the capital subscribed. A private limited liability company may be founded by one or more persons, including foreign natural or legal persons. The minimum foundation capital is BGL 5,000 divided into shares with nominal value of BGL 10 each and at least 70% of the capital must be paid up on foundation. Contributions to the foundation capital may be paid in cash or in kind. The statutory bodies of the private limited companies are the general meeting of shareholders, which must be held at least once a year, and the managing director or board of directors. The registration process takes approximately 15 days.
