Organisational forms of doing business A Sole Proprietorship (ЕТ) Commercial Partnership – Personal An Unlimited Partnership (СД) A Limited Partnership (КД) – Merchants A Limited Liability Company (ООД) A Joint-stock company (АД) Public Limited Partnership (КДА) Cooperative State and Municipal enterprises

Basic legal and organisational forms A Sole Proprietorship- ЕТ: Individual becomes a sole trader. Capital: there is not obligation to have start-up capital Liability: и с фирменото, и с личното имущество. Name: first and family Management: only a sole trader. Single Member Limited Liability Company- ЕООД: One owner of the capital. Capital: minimum 2 leva Liability: limited to the company’s property. Name: everyone vacant. Management: the owner or someone else. A Limited Liability Company - ООД: At least two partners, owners of the capital. Capital: minimum 2 leva. Liability: limited to the company’s property. Name: everyone vacant. Management : one from owners or someone else A Joint-stock company- АД: At least two partners, owners of the capital. Capital: minimum 50, 000 leva. Liability: limited to the company’s property. Name: everyone vacant. Management : General assembly, board of managers, Supervisory council (Board of directors)

Law regulation Commercial code Business register Commercial register BULSTAT Privacy policy Cooperatives act Credit Institutions Act

Competent authorities  Registry agency  Bulgarian Chamber of Commerce and Industry

Registration procedure  Check-up the uniqueness of the name  Reservation the name  Elaborate Company agreement or Company statute  Organize constituent assembly - Making founders list - Taking a decision for company establishing - Passing Company agreement or Company statute - Selection Managing body - Keeping a record of the session

Registration procedure  Swear affidavits  Shareholder book  Pay state taxes  Company stamp  Fill applications for Privacy policy  Open a bank account

Requirable papers Memorandum of association Record of the session Declarations according to Commercial Code Agreement and signature of the manager Managing agreement Bank document of capital deposited Receipt for paid state taxes