Bulgaria: Types Of Company
Private Limited Liability Company
A Private Limited Company has share capital and the liability of shareholders is limited to the amount of each individual’s shareholding. One or more individuals can form this type of company. The minimum start-up capital is BGN5,000, which must be divided into shares of BGN10 each. A minimum of 70% of share capital must be paid up on foundation of the company. Shareholders must meet at least annually and a Board of Directors must run the company.
The main requirements to set up a Private Limited Company are the availability of the Articles of Association, the appointment of a managing director, and confirmation of paid-up share capital.