December 5, 2017

OTHER INFORMATION

PUBLICLY AVAILABLE INFORMATION

Disclosure of Shareholders:
All persons stated as directors and shareholders are also liable for legal purposes. Their names are disclosed in the public part of the Register, and they will not be indemnified using a privately signed
document (no nominees are allowed).

 

Disclosure of Shareholders:
For natural persons – Name; For entities – Company name, registration number and country of registration.

 

Disclosure of other information:
Full registered address; Telephone and e-mail (if provided); Amount of capital and shares division.

 

OTHERS

Bank Account Opening Possibility:
Copies of incorporation documents must be shown to the bank staff. An Attorney bearing a notarised Power of Attorney may open a bank account without the presence of the director.

 

Exchange Control:
There are no barriers for access to the market by foreign businesses and no restriction on capital flows into and out of Bulgaria.

 

Legalization and Apostille Certification:
The following documents are acceptable for Apostille:
(1) Public documents bearing the true signature of Government representatives by the Consulate Service of the Ministry of Foreign Affairs;
(2) Documents issued by Notary Public and Judges – By the Ministry
of Justice;
(3) Documents signed in front of Notary Public

 

Strike Off and Winding Up Procedures:
1) Grounds for compulsory winding up of a limited company:
A) The company must be insolvent;
B) The company must be over indebted and unable to resolve its obligations. This criterion is checked by the court in each individual case;
2) For voluntary winding up – the company has by special resolution resolved that it shall be wound up.
The application for winding up may be brought to court by creditors, or any shareholder or director. The procedure for both the compulsory and the voluntary winding up requires approximately six months from the time of filing of the application and the completion of the procedure.

 

Striking Off:
A due liquidation procedure is required for the official dissolution of the company. This is a court-based procedure and also requires a period of time for creditors to present their receivables (6 months from
the application).