A single-person private limited liability company is called "EOOD".
It is owned by a natural or a legal person, the sole shareholder exercises the powers of the general meeting and the managing director or board of directors is appointed to run the company. A private limited company must prepare a balance sheet and financial statements each year.
Here is a general explanation of what is needed to set up a private limited
company in Bulgaria:
- produce its Memorandum of Association; the Law on Commerce stipulates the obligatory provisions of the articles.
- have appointed a managing director (or board of directors).
- have paid up its authorized capital, including each member's contribution.
This information together with details of the management, etc., is recorded in the Trade register.