{"id":924,"date":"2022-06-30T16:18:19","date_gmt":"2022-06-30T16:18:19","guid":{"rendered":"https:\/\/legalhelpbg.com\/?page_id=924"},"modified":"2022-07-01T03:51:18","modified_gmt":"2022-07-01T03:51:18","slug":"starting-a-comapny-on-a-budget","status":"publish","type":"page","link":"https:\/\/legalhelpbg.com\/?page_id=924","title":{"rendered":"starting a comapny on a budget"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"924\" class=\"elementor elementor-924\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-fa6f9bc elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"fa6f9bc\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t\t<div class=\"elementor-background-overlay\"><\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-d5a51e2\" data-id=\"d5a51e2\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-26f6f81 elementor-invisible elementor-widget elementor-widget-heading\" data-id=\"26f6f81\" data-element_type=\"widget\" data-settings=\"{&quot;_animation&quot;:&quot;fadeInUp&quot;}\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.6.6 - 08-06-2022 *\/\n.elementor-heading-title{padding:0;margin:0;line-height:1}.elementor-widget-heading .elementor-heading-title[class*=elementor-size-]>a{color:inherit;font-size:inherit;line-height:inherit}.elementor-widget-heading .elementor-heading-title.elementor-size-small{font-size:15px}.elementor-widget-heading .elementor-heading-title.elementor-size-medium{font-size:19px}.elementor-widget-heading .elementor-heading-title.elementor-size-large{font-size:29px}.elementor-widget-heading .elementor-heading-title.elementor-size-xl{font-size:39px}.elementor-widget-heading .elementor-heading-title.elementor-size-xxl{font-size:59px}<\/style><h1 class=\"elementor-heading-title elementor-size-default\">starting a company in bulgaria on a budget - part 1<\/h1>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-db8df17 elementor-invisible elementor-widget elementor-widget-text-editor\" data-id=\"db8df17\" data-element_type=\"widget\" data-settings=\"{&quot;_animation&quot;:&quot;zoomIn&quot;,&quot;_animation_delay&quot;:200}\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.6.6 - 08-06-2022 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#818a91;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#818a91;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<p>Understand the different types of company structures, requirements and documents needed for the establishment and registration of a company in Bulgaria, duration, costs and more.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-844775e elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"844775e\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-747a394\" data-id=\"747a394\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-9523b9b elementor-widget elementor-widget-text-editor\" data-id=\"9523b9b\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p style=\"text-align: justify;\"><br><\/p><p style=\"text-align: justify;\">Nowadays, fast trading&nbsp;and connectivity between people allows <span lang=\"EN-US\">creating and growing<\/span> a business with <b>minimal capital and costs <span lang=\"EN-US\">for<\/span> <span lang=\"EN-US\">establishing<\/span> and registering <span lang=\"EN-US\">the<\/span> legal entity<\/b> through which to conduct business &#8211; whether in the form of a sole <span lang=\"EN-US\">proprietor<\/span> or a company (<span lang=\"EN-US\">e.g. Limited liability company<\/span>, <span lang=\"EN-US\">Single-member limited liability company<\/span>, <span lang=\"EN-US\">General partnership<\/span>, <span lang=\"EN-US\">Limited partnership and so on<\/span>).<\/p>\n<p style=\"text-align: justify;\">This article <b>focuses on L<span lang=\"EN-US\">LC<\/span>. and <span lang=\"EN-US\">single-member LLC<\/span>.<\/b> as the<span lang=\"EN-US\">se are the<\/span> <b>most commonly applicable forms of commercialization <span lang=\"EN-US\">in the Republic of Bulgaria<\/span><\/b>. Today, they find the greatest scope <span lang=\"EN-US\">of application <\/span>precisely because of the <b>low costs <span lang=\"EN-US\">of<\/span> establishment and registration<\/b><span lang=\"EN-US\"> of the LLC.<\/span>, <span lang=\"EN-US\">and because of <\/span>their <b>flexibility and relatively simplified procedure for establishment and registration<\/b>.<\/p>\n<p style=\"text-align: justify;\">The article does not aim at the complete explanation of the legal framework of the Republic of Bulgaria regarding the <span lang=\"EN-US\">establishment<\/span> and registration of <span lang=\"EN-US\">legal entities<\/span>, but <b>aims to present in a <span lang=\"EN-US\">brief<\/span> and clear way the main <span lang=\"EN-US\">aspects<\/span> <span lang=\"EN-US\">of<\/span> establish<span lang=\"EN-US\">ing and registering<\/span> <span lang=\"EN-US\">an<\/span> L<span lang=\"EN-US\">LC<\/span>.\/<span lang=\"EN-US\">single-member LLC<\/span>.<\/b><span lang=\"EN-US\">, in a way that <\/span>would be useful for those wishing to establish this type of company without <span lang=\"EN-US\">having <\/span>special knowledge.<\/p>\n<p>This article does not constitute legal advice and the author is not bound by the information given. The articles is purely for informational purposes.<\/p>\n<div style=\"mso-element: para-border-div; border: none; border-bottom: solid windowtext 1.0pt; mso-border-bottom-alt: solid windowtext .75pt; padding: 0cm 0cm 1.0pt 0cm;\">\n<p style=\"border-width: initial; border-style: none; padding: 0cm;\">If you require individual consultations and legal advice, you can contact us at ssheyredov8@gmail.com or by using the form in the \u201cContacts\u201d section of this page.<\/p>\n<\/div>\n<p style=\"text-align: center;\" align=\"center\"><b><u>LIMITED LIABILITY COMPANY (L<\/u><\/b><b><u><span lang=\"EN-US\">LC<\/span>)<\/u><\/b><\/p>\n<p style=\"text-align: center;\" align=\"center\"><span lang=\"EN-US\">What is an LLC<\/span>:<\/p>\n<p style=\"text-align: justify;\">A <b>limited liability company (L<span lang=\"EN-US\">LC<\/span>.)<\/b> is a commercial company that is formed by mutual consent of two or more individuals or legal entities. There are no obstacles for these persons to be foreigners or EU citizens, but it is important in these cases that the documents be prepared in Bulgarian and translated into a language understood by the foreigner. These persons are responsible for the obligations of the company with their share contribution in the capital of the company \u2013 i<span lang=\"EN-US\">.<\/span>e. they are not liable for the company&#8217;s obligations with their own personal property. The capital of L<span lang=\"EN-US\">LC<\/span>. consists of the contributions of the partners. A limited liability company is established <span lang=\"EN-US\">by singing<\/span> <span lang=\"EN-US\">a <\/span>company contract <span lang=\"EN-US\">executed<\/span> in writing by the partners. The name of the company must contain the designation &#8220;Limited Liability Company&#8221; <span lang=\"EN-US\">but in Bulgarian (<\/span>\u201e\u0414\u0440\u0443\u0436\u0435\u0441\u0442\u0432\u043e \u0441 \u043e\u0433\u0440\u0430\u043d\u0438\u0447\u0435\u043d\u0430 \u043e\u0442\u0433\u043e\u0432\u043e\u0440\u043d\u043e\u0441\u0442\u201c) or abbreviated &#8220;\u041e\u041e\u0414&#8221;. One of the main advantages that L<span lang=\"EN-US\">LC<\/span>. offers is the low amount of capital required for the establishment of the company. The capital of a limited liability company may be <span lang=\"EN-US\">no <\/span>less than BGN 2. <span lang=\"EN-US\">The capital<\/span> consists of the sum of the shares of the partners, <span lang=\"EN-US\">each of which <\/span>may be <span lang=\"EN-US\">no <\/span>less than BGN 1. The management of <span lang=\"EN-US\">the <\/span>L<span lang=\"EN-US\">LC<\/span>. is carried out by two obligatory bodies: <span lang=\"EN-US\">the <\/span>General Assembly and <span lang=\"EN-US\">the <\/span>Manager<span lang=\"EN-US\"> of the company<\/span>. The General <span lang=\"EN-US\">Assembly<\/span> includes all partners of the company. The manager manages and represents the company before third parties. The manager may be a partner, but may also be a person external to the company.<\/p>\n<p style=\"text-align: justify;\">List of <b>necessary documents<\/b> for establishing a limited liability company:<\/p>\n<p style=\"text-align: justify;\">1. <b><span lang=\"EN-US\">Bank n<\/span>ote<\/b><span lang=\"EN-US\"> showing the<\/span> <span lang=\"EN-US\">deposited<\/span> capital, which <span lang=\"EN-US\">can be<\/span> issue<span lang=\"EN-US\">d<\/span> from a bank of your choice. In case you have chosen to register a limited liability company with a capital that is higher than BGN 2 (this is the minimum established by law), it is necessary to pay at least 70% of the capital.<\/p>\n<p style=\"text-align: justify;\">2. <b><span lang=\"EN-US\">Decalration of <\/span>Consent<\/b><b> given by the manager<\/b> for <span lang=\"EN-US\">the <\/span>acceptance of management and <span lang=\"EN-US\">for <\/span>sampl<span lang=\"EN-US\">ing<\/span> <span lang=\"EN-US\">his<\/span> signature (specimen) &#8211; It is necessary <span lang=\"EN-US\">the declaration <\/span>be <span lang=\"EN-US\">with a <\/span>notarized<span lang=\"EN-US\"> signature<\/span> <span lang=\"EN-US\">of<\/span> the manager.<\/p>\n<p style=\"text-align: justify;\">3. <b>Company contract<\/b><\/p>\n<p style=\"text-align: justify;\">4. <b><span lang=\"EN-US\">Protocol from<\/span>&nbsp;the General <\/b><b>Assembly<\/b><span lang=\"EN-US\"> m<\/span>eeting of the partners &#8211; The document must contain the decisions taken by the constituent assembly and the agenda of the meeting.<\/p>\n<p style=\"text-align: justify;\">5. <b>Decision of the General<\/b><b><span lang=\"EN-US\"> Assembly<\/span> <\/b>for <span lang=\"EN-US\">the <\/span>appointment of a manager<\/p>\n<p style=\"text-align: justify;\">6. <b>Application form A4<\/b> &#8211; You can find it on the website of the Commercial Register, download <span lang=\"EN-US\">it<\/span> and fill it out.<\/p>\n<p style=\"text-align: justify;\">7. <b>Declaration under Art. 13, para. 4 <\/b><b><span lang=\"EN-US\">of the <\/span>Commercial Register <\/b><b><span lang=\"EN-US\">and Register for Non-profit Legal Entities <\/span>Act<\/b><b> (CRRNPLEA)<\/b><span lang=\"EN-US\">. With it, the applicant declares that the stated circumstances and the acceptance\/convention of the presented for submission documents are true and authentic<\/span>.<\/p>\n<p style=\"text-align: justify;\">8. <b>Declaration under Art. 13, para. 5<\/b> <b>of the <\/b><b>Commercial Register <\/b><b><span lang=\"EN-US\">and Register for Non-profit Legal Entities <\/span>Act<\/b><b> (CRRNPLEA)<\/b>. <span lang=\"EN-US\">The declaration is t<\/span>o be <span lang=\"EN-US\">signed<\/span> only when the applicant does not present the documents in person <span lang=\"EN-US\">at<\/span> the <span lang=\"EN-US\">Commercial register<\/span>.<\/p>\n<p style=\"text-align: justify;\">9. <b>Declaration under Art. 142,<\/b><b><span lang=\"EN-US\"> para. 1<\/span> <\/b><b><span lang=\"EN-US\">of the <\/span>Commercial Law (CA)<\/b>. <span lang=\"EN-US\">The declaration is signed by the manager and it regards p<\/span>rohibition of competitive activity.<\/p>\n<p style=\"text-align: justify;\">10. <b>Declaration under Art. 141, para. 8<\/b><b> of the Commercial Law<\/b>. The manager declares that he meets the requirements of the law <span lang=\"EN-US\">to be<\/span> a manager of a company.<\/p>\n<p style=\"text-align: justify;\">11. <b>Application for <\/b><b><span lang=\"EN-US\">reserving<\/span> <\/b><b><span lang=\"EN-US\">the<\/span> company<\/b><b><span lang=\"EN-US\"> name<\/span> (D1)<\/b>, which is <b>not obligatory<\/b> and costs BGN 50.<\/p>\n<p style=\"text-align: justify;\">12. <b>License or permit<\/b>, when the activity of the company requires such.<\/p>\n<p style=\"text-align: justify; text-indent: -18.0pt; mso-list: l1 level1 lfo2;\"><!-- [if !supportLists]-->&#8211;<span style=\"font-variant-numeric: normal; font-variant-east-asian: normal; font-stretch: normal; font-size: 7pt; line-height: normal; font-family: 'Times New Roman';\">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <\/span><!--[endif]--><b>Procedure and duration:<\/b><\/p>\n<p style=\"text-align: justify;\">The obligatory documents are filled <span lang=\"EN-US\">out <\/span>as follows: items 3, 4, 5<span lang=\"EN-US\"> &#8211;<\/span> by the partners; item 2 &#8211; by the manager,<span lang=\"EN-US\"> with<\/span> the signature being <span lang=\"EN-US\">verified<\/span> by a notary; items 9 and 10 &#8211; by the manager; item 7 <span lang=\"EN-US\">&#8211; <\/span>by the manager or the partners; item 1 &#8211; issued by the bank <span lang=\"EN-US\">in<\/span> which the <span lang=\"EN-US\">fund-raising<\/span> account has been opened and the capital<span lang=\"EN-US\"> has been deposited<\/span>; item 8 &#8211; by the bearer of the documents (in <span lang=\"EN-US\">the <\/span>case <span lang=\"EN-US\">where the documents are submitted by someone else than <\/span>the applicant).<\/p>\n<p style=\"text-align: justify;\">After the documents are filled <span lang=\"EN-US\">out<\/span>, signed and where necessary &#8211; <span lang=\"EN-US\">verified<\/span> by a notary, incl. in the presence of an interpreter<span lang=\"EN-US\"> or translator<\/span>, the documents <span lang=\"EN-US\">are<\/span> attached to the Application form A4 and are <span lang=\"EN-US\">submitted with<\/span> the Commercial Register. The documents can be <span lang=\"EN-US\">submitted<\/span> on paper, but can also be <span lang=\"EN-US\">submitted<\/span> electronically through the website of the Commercial Register. The latter option is preferable not only for the convenience of the applicant, but also <span lang=\"EN-US\">because in the case where an <\/span>applications <span lang=\"EN-US\">is <\/span>submitted electronically<span lang=\"EN-US\">, the <\/span>state fee is <span lang=\"EN-US\">reduced by 50%<\/span>. In the case of a limited liability company, the state fee for the initial registration of the company is BGN 110 &#8211; when submitting the documents on paper, and respectively BGN 55 &#8211; when submitting them electronically.<\/p>\n<p style=\"text-align: justify;\">The opening of a fund<span lang=\"EN-US\">&#8211;<\/span>raising account, in which the initial capital of the company will be <span lang=\"EN-US\">deposited<\/span>, may take from a few minutes to several days &#8211; depending on various factors (e<span lang=\"EN-US\">.<\/span>g<span lang=\"EN-US\">.<\/span> <span lang=\"EN-US\">policies of the <\/span>respective bank; whether the partners are Bulgarian or foreign citizens, etc.).<\/p>\n<p style=\"text-align: justify;\">If everything is in order with the documents, the company must be registered within 3 days from the submission of the application with the attached documents in the Commercial Register. <span lang=\"EN-US\">Meaning that <\/span>indeed it is possible for a limited liability company to be <span lang=\"EN-US\">established<\/span> and registered within one working week.<\/p>\n<p style=\"text-align: justify; text-indent: -18.0pt; mso-list: l0 level1 lfo1;\"><!-- [if !supportLists]-->&#8211;<span style=\"font-variant-numeric: normal; font-variant-east-asian: normal; font-stretch: normal; font-size: 7pt; line-height: normal; font-family: 'Times New Roman';\">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <\/span><!--[endif]--><b>Total costs<\/b><b><span lang=\"EN-US\">:<\/span> <\/b><\/p>\n<p style=\"text-align: justify;\"><span lang=\"EN-US\">C<\/span>osts <span lang=\"EN-US\">vary<\/span> <span lang=\"EN-US\">with relation to the different<\/span> circumstances <span lang=\"EN-US\">within <\/span>each <span lang=\"EN-US\">individual <\/span>case and no final figure can be given which will be applicable<span lang=\"EN-US\"> in all scenarios<\/span>. However, if we assume that <span lang=\"EN-US\">your<\/span> aim <span lang=\"EN-US\">is<\/span> the fastest and most economical <span lang=\"EN-US\">establishment<\/span> and registration of <span lang=\"EN-US\">an LLC<\/span>. and assume that the partners are Bulgarian individuals or l<span lang=\"EN-US\">egal entities<\/span> that have decided to establish the company with a minimum capital of BGN 2, then the costs to be made for the establishment <span lang=\"EN-US\">and registration <\/span>of the company would approximately amount to the following:<\/p>\n<p style=\"text-align: justify;\">&#8211; For opening a fund<span lang=\"EN-US\">&#8211;<\/span>raising account &#8211; the fee varies from bank to bank, but on average about BGN 20-30;<\/p>\n<p style=\"text-align: justify;\">&#8211; For depositing capital &#8211; BGN 2 + accrued bank fees for the transaction;<\/p>\n<p style=\"text-align: justify;\">&#8211; For <span lang=\"EN-US\">verification<\/span> <span lang=\"EN-US\">by a notary <\/span>of <span lang=\"EN-US\">the managers\u2019<\/span> <span lang=\"EN-US\">signature on the D<\/span>eclaration<span lang=\"EN-US\"> of C<\/span>onsent \u2013 <span lang=\"EN-US\">around BGN <\/span>10-2<span lang=\"EN-US\">0. <\/span><\/p>\n<p style=\"text-align: justify;\">&#8211; For consideration of the application and the attached documents, submitted to the Commercial Register \u2013<span lang=\"EN-US\"> a state fee of<\/span> BGN 110, resp. BGN 55 <span lang=\"EN-US\">when submitted electronically.<\/span><\/p>\n<p style=\"text-align: justify;\">It is important to specify that although optional, it is highly recommended that the <span lang=\"EN-US\">drafting and <\/span>preparation of <span lang=\"EN-US\">the <\/span>documents be done with the assistance of a lawyer, in order to ensure <span lang=\"EN-US\">fast<\/span>, efficient and lawful establishment of the company in accordance with the wishes and goals of the partners and the company itself. This, of course, would be an additional cost, the amount of which would depend on the mutual agreements reached between the lawyer and the client.<\/p>\n<p style=\"text-align: justify;\">It is also important to specify that if the partners are foreign persons, it would be necessary to prepare a written translation of the documents. If the manager is a foreign person, when performing the notarization of the <span lang=\"EN-US\">D<\/span>eclaration<span lang=\"EN-US\"> of C<\/span>onsent for acceptance of management and a sample of the signature (specimen) of the manager, a translator must be present, to whom remuneration must be paid for the time during which he performed translation. The remuneration of the translator again depends on the agreement reached between the parties, but on average varies around BGN 40 per started hour. The presence of a<span lang=\"EN-US\"> translator <\/span>makes the <span lang=\"EN-US\">notarization<\/span> procedure more expensive, as the notary charges an additional fee due to the presence of <span lang=\"EN-US\">a<\/span> translator, who also signs the notarized document.<\/p>\n<p style=\"text-align: center;\" align=\"center\"><b><u><span lang=\"EN-US\">SINGLE-MEMBER<\/span> LIMITED LIABILITY COMPANY (<\/u><\/b><b><u><span lang=\"EN-US\">single-member LLC.<\/span>)<\/u><\/b><\/p>\n<p style=\"text-align: justify;\"><span lang=\"EN-US\">What is a single-member LLC<\/span>.<span lang=\"EN-US\"> and how is it different from the LLC. mentioned above:<\/span><\/p>\n<p style=\"text-align: justify;\"><b>The <span lang=\"EN-US\">single-member LLC<\/span>. is a variant of the L<span lang=\"EN-US\">LC.<\/span>, but unlike it<span lang=\"EN-US\">, it<\/span> is <span lang=\"EN-US\">established<\/span> by a single person<\/b> &#8211; it can be a Bulgarian or foreign natural or legal person. Instead of partners, we have only a sole owner of the capital. He is responsible for the obligations of the company with his share contribution in the capital of the company, <span lang=\"EN-US\">meaning that he <\/span>is not liable with his personal property. In the same way as in <span lang=\"EN-US\">the <\/span>L<span lang=\"EN-US\">LC<\/span>., <span lang=\"EN-US\">single-member LLC<\/span>. is a capital company <span lang=\"EN-US\">the<\/span> capital <span lang=\"EN-US\">of which <\/span>is divided into shares. <span lang=\"EN-US\">As with the LLC., <\/span>he capital of <span lang=\"EN-US\">the single-member LLC<\/span>. also cannot be less than the <span lang=\"EN-US\">legal <\/span>minimum of BGN 2. No company contract is drawn up for the formation of <span lang=\"EN-US\">a single-member LLC<\/span>., but instead a <span lang=\"EN-US\">Statute <\/span>is drawn up. The name of the company <span lang=\"EN-US\">must <\/span>contain the designation &#8220;<span lang=\"EN-US\">single-member LLC<\/span>.&#8221; <span lang=\"EN-US\">but in Bulgarian (<\/span>\u0415\u0434\u043d\u043e\u043b\u0438\u0447\u043d\u043e \u0434\u0440\u0443\u0436\u0435\u0441\u0442\u0432\u043e \u0441 \u043e\u0433\u0440\u0430\u043d\u0438\u0447\u0435\u043d\u0430 \u043e\u0442\u0433\u043e\u0432\u043e\u0440\u043d\u043e\u0441\u0442) or abbreviated &#8220;<span lang=\"EN-US\">E<\/span>\u041e\u041e\u0414&#8221;. Decisions <span lang=\"EN-US\">with regards to<\/span> the activities of the company are <span lang=\"EN-US\">made<\/span> by the sole owner of the capital. The sole owner of the capital may also be <span lang=\"EN-US\">the<\/span> manager of the company, so that he manages and represents the company personally or through an authorized person. <span lang=\"EN-US\">The<\/span> manager may also be a person external to the company.<span lang=\"EN-US\"> In this case he is chosen by the sole owner of the capital.<\/span><\/p>\n<p style=\"text-align: justify;\">List of <b>necessary documents<\/b> for establishing a limited liability company:<\/p>\n<p style=\"text-align: justify;\">1. <b><span lang=\"EN-US\">Bank n<\/span>ote<\/b><span lang=\"EN-US\"> showing the<\/span> <span lang=\"EN-US\">deposited<\/span> capital, which <span lang=\"EN-US\">can be<\/span> issue<span lang=\"EN-US\">d<\/span> from a bank of your choice. In case you have chosen to register a limited liability company with a capital that is higher than BGN 2 (this is the minimum established by law), it is necessary to pay at least 70% of the capital.<\/p>\n<p style=\"text-align: justify;\">2. <b><span lang=\"EN-US\">Decalration of <\/span>Consent<\/b><b> given by the manager<\/b> for <span lang=\"EN-US\">the <\/span>acceptance of management and <span lang=\"EN-US\">for <\/span>sampl<span lang=\"EN-US\">ing<\/span> <span lang=\"EN-US\">his<\/span> signature (specimen) &#8211; It is necessary <span lang=\"EN-US\">the declaration <\/span>be <span lang=\"EN-US\">with a <\/span>notarized<span lang=\"EN-US\"> signature<\/span> <span lang=\"EN-US\">of<\/span> the manager.<\/p>\n<p style=\"text-align: justify;\">3. <span lang=\"EN-US\">Comapany Statute.<\/span><\/p>\n<p style=\"text-align: justify;\">4. <b>Protocol for the decision to establish the company<\/b><span lang=\"EN-US\"> &#8211; The document must contain the decisions taken by the sole owner of the capital and the agenda of the day.<\/span><\/p>\n<p style=\"text-align: justify;\">5. <b>Decision for appointment of a manager<\/b><b>.<\/b><\/p>\n<p style=\"text-align: justify;\">6. <b>Application form A4<\/b> &#8211; You can find it on the website of the Commercial Register, download <span lang=\"EN-US\">it<\/span> and fill it out.<\/p>\n<p style=\"text-align: justify;\">7. <b>Declaration under Art. 13, para. 4 <\/b><b><span lang=\"EN-US\">of the <\/span>Commercial Register <\/b><b><span lang=\"EN-US\">and Register for Non-profit Legal Entities <\/span>Act<\/b><b> (CRRNPLEA)<\/b><span lang=\"EN-US\">. With it, the applicant declares that the stated circumstances and the acceptance\/convention of the presented for submission documents are true and authentic<\/span>.<\/p>\n<p style=\"text-align: justify;\">8. <b>Declaration under Art. 13, para. 5<\/b> <b>of the <\/b><b>Commercial Register <\/b><b><span lang=\"EN-US\">and Register for Non-profit Legal Entities <\/span>Act<\/b><b> (CRRNPLEA)<\/b>. <span lang=\"EN-US\">The declaration is t<\/span>o be <span lang=\"EN-US\">signed<\/span> only when the applicant does not present the documents in person <span lang=\"EN-US\">at<\/span> the <span lang=\"EN-US\">Commercial register<\/span>.<\/p>\n<p style=\"text-align: justify;\">9. <b>Declaration under Art. 142,<\/b><b><span lang=\"EN-US\"> para. 1<\/span> <\/b><b><span lang=\"EN-US\">of the <\/span>Commercial Law (CA)<\/b>. <span lang=\"EN-US\">The declaration is signed by the manager and it regards p<\/span>rohibition of competitive activity.<\/p>\n<p style=\"text-align: justify;\">10. <b>Declaration under Art. 141, para. 8<\/b><b> of the Commercial Law<\/b>. The manager declares that he meets the requirements of the law <span lang=\"EN-US\">to be<\/span> a manager of a company.<\/p>\n<p style=\"text-align: justify;\">11. <b>Application for <\/b><b><span lang=\"EN-US\">reserving<\/span> <\/b><b><span lang=\"EN-US\">the<\/span> company<\/b><b><span lang=\"EN-US\"> name<\/span> (D1)<\/b>, which is <b>not obligatory<\/b> and costs BGN 50.<\/p>\n<p style=\"text-align: justify;\">12. <b>License or permit<\/b>, when the activity of the company requires such.<\/p>\n<div style=\"mso-element: para-border-div; border: none; border-bottom: solid windowtext 1.0pt; mso-border-bottom-alt: solid windowtext .75pt; padding: 0cm 0cm 1.0pt 0cm;\">\n<p style=\"text-align: justify; border-width: initial; border-style: none; padding: 0cm;\">The <b>procedure, duration and total costs do not differ from those <\/b><b>mentioned above<\/b><span lang=\"EN-US\"> for the establishment and registration of an <\/span>L<span lang=\"EN-US\">LC<\/span>.<\/p>\n<\/div>\n<p style=\"text-align: justify;\"><span lang=\"EN-US\">&nbsp;<\/span><\/p>\n<div style=\"mso-element: para-border-div; border: none; border-bottom: solid windowtext 1.0pt; mso-border-bottom-alt: solid windowtext .75pt; padding: 0cm 0cm 1.0pt 0cm;\">\n<p style=\"border-width: initial; border-style: none; padding: 0cm;\">If you require individual consultations and legal advice, you can contact us at ssheyredov8@gmail.com or by using the form in the \u201cContacts\u201d section of this page.<\/p>\n<\/div>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-35c5777 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"35c5777\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-fecb086\" data-id=\"fecb086\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>starting a company in bulgaria on a budget &#8211; part 1 Understand the different types of company structures, requirements and documents needed for the establishment and registration of a company in Bulgaria, duration, costs and more. Nowadays, fast trading&nbsp;and connectivity between people allows creating and growing a business with minimal capital and costs for establishing &hellip;<\/p>\n<p class=\"read-more\"> <a class=\"\" href=\"https:\/\/legalhelpbg.com\/?page_id=924\"> <span class=\"screen-reader-text\">starting a comapny on a budget<\/span> Read More &raquo;<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"site-sidebar-layout":"no-sidebar","site-content-layout":"page-builder","ast-global-header-display":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"disabled","ast-breadcrumbs-content":"","ast-featured-img":"disabled","footer-sml-layout":"","theme-transparent-header-meta":"enabled","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","footnotes":""},"class_list":["post-924","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/legalhelpbg.com\/index.php?rest_route=\/wp\/v2\/pages\/924","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/legalhelpbg.com\/index.php?rest_route=\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/legalhelpbg.com\/index.php?rest_route=\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/legalhelpbg.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/legalhelpbg.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=924"}],"version-history":[{"count":26,"href":"https:\/\/legalhelpbg.com\/index.php?rest_route=\/wp\/v2\/pages\/924\/revisions"}],"predecessor-version":[{"id":965,"href":"https:\/\/legalhelpbg.com\/index.php?rest_route=\/wp\/v2\/pages\/924\/revisions\/965"}],"wp:attachment":[{"href":"https:\/\/legalhelpbg.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=924"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}