Archive for May 29th, 2008

Setting Up A Business In Bulgaria

Posted by: in Bulgaria property in Bulgaria property
29
May

By: Vanya Alex

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.
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