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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 articles of association (Memorandum of Association - in
the case of a single-person private limited company); the Law on Commerce
stipulates the obligatory provisions of the articles;
- have appointed a managing director (or board of directors);
- have paid up at least 70% of its authorized capital, including at
least one-third of each member's contribution.
This information together with details of the management, etc., is
recorded in the commercial register and promulgated in the State Gazette.
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Bulgaria Translation