Bulgaria is a country located in the south-eastern part of the Balkan Peninsula in south-eastern Europe. It has a strategic geographical location in the Balkan region with a long border to the north along the Danube river with Romania. It is also bordered by Serbia and the Republic of Macedonia to the west, Greece and Turkey to the south and the Black Sea to the east. With a territory of 110 994 km2, Bulgaria ranks as Europe’s 16th largest country. Bulgaria’s location has defined it as a historical crossroad for various civilisations and as such it is the home of some of the world’s most ancient cultural artefacts.
The population of 7.36 million people is predominantly urban and mainly concentrated in the administrative centres of its 28 provinces. Sofia (population: 1.22 million) is the capital and largest city of Bulgaria. It is located in western Bulgaria, at the foot of Mt Vitosha and approximately at the centre of the Balkan Peninsula. Other major cities include Plovdiv, Varna, Burgas and Ruse.
The national currency of Bulgaria is the Bulgarian lev (BGN), which has maintained a fixed exchange rate vis à vis the euro since 1999. Accordingly, the lev remains quoted at the rate of EUR 1 = BGN 1.95583
The registration of an EOOD
The registration of an EOOD (Sole Member Limited Liability Company) or OOD (Limited Liability Company), in line with Bulgarian legislation system, is carried out in the following way:
During the first stage, you should send us the following:
1. A copy (from all sides) of a valid ID document. In case of an OOD – a copy of the ID document for each associate;
2. The name you have chosen for your company, so that we can verify its availability in the Commercial Register;
3. The amount of the initial company capital;
4. In the case of an OOD – the percentage of each associate’s share as well as the type of management. All associates can be managers – together and separately, or only together (in this case their signatures would be effective only if all associates have signed the document). There is also the possibility to have one manager only, who is going to represent all associates;
5. Subject of the activity (the main activity carried out by your company);