Bulgaria

Operating a business

Different types of companies	Number of partners/shareholders	Maximum and/or minimum capital	Liabilities	Registration fees
Private Limited Company (OOD)	Minimum 2 partners. 1 member for a sole proprietorship.	Minimum BGL 50,000 (shares of minimum BGL 500).	Liability is limited to the amount contributed.
Joint-stock company (AD)	Minimum 2 shareholders.	Minimum BGL 1 million (5 million in case of public subscription).	Liability on assets of the company and up to their value towards creditors.
General partnership	Minimum 2 partners.	No minimum capital.	Partners' liability is joint and unlimited .
Limited partnership	Minimum 2 partners, a sleeping partner and an active partner.	No minimum capital.	Active partners' liability is joint and indefinite. Sleeping partners' liability is limited to the amount contributed.
Partnership limited by shares	Minimum 3 sleeping partners. Minimum 2 active partners.	Minimum BGL 1 million ( 5 million in case of public subscription).	Active partners' liability is joint and unlimited. Sleeping partners' liability is limited to the amount contributed.

Business setup procedures: To register an OOD with the Trade Register, minimum 70% of the registered share capital has to be paid. An AD must be registered with the Trade Register and a minimum of 25% of the share capital has to be paid.
Finally, a branch must be registered with the Trade Register of the competent regional Court.