If you've decided it's time to strike out on your own and start your own business, company registration is the first step. Maybe you already have a great idea, but you're still not sure what legal form to choose? Well, if you want to manage everything yourself and have full control over your business, Ltd. (Single-member limited liability company) is the perfect option.
Why exactly EOOD?
You are the boss – no partners, no arguments. You make the decisions yourself and run your business as you see fit.
Limited liability – your personal assets are protected. If the company has debts, you are only liable up to the amount of its capital.
Minimal start-up costs – you don't need thousands of leva in starting capital, only 2 leva.
Easy management – you decide when and how to withdraw your profits, and if you decide one day, you can sell the company or transfer it to another owner.
How is registration done?
The whole procedure can take just a few days and is not as complicated as it seems. In general, you need to do the following:
- You choose a name – Check if it is available and reserve it.
- You prepare the documents. – Articles of Association, specimen (sample signature), application for registration and a few other small things.
- You open a bank account. – You contribute the minimum capital (even if it is only 2 BGN).
- You certify your signature with a notary public. – This is a quick procedure that you need for some of the documents.
- You file everything with the Commercial Register – After 3 to 5 business days, your company is now officially registered.
How much does all this pleasure cost?
If you decide to prepare the documents yourself, your costs will be minimal – the state fee is 55 BGN (if you submit the documents online, otherwise 110 BGN), the notary certification costs about 6 BGN, and the bank fees are between 10 and 20 BGN. So in total you can manage with under 100 BGN.
But here comes the big “BUT” – you will have to deal with the bureaucracy yourself, make sure that all the documents are filled out correctly, and waste time at institutions. If you make a mistake, this can lead to the registration being denied, which means additional costs and delays.
That's why many people choose to trust certified companies for EOOD registration, who handle the entire procedure for them. For about 200-300 BGN, professionals will take care of everything – from preparing the documents to submitting them to the Commercial Register. This saves you time, nerves and the risk of mistakes.
If you want the start of your business to go smoothly and without stress, the best option is to trust specialists and save yourself the headaches.
Are you ready to start?
Registering a company is just the first step, but without it, nothing can happen. If you have an idea, motivation and desire to build something of your own, don't delay - act! Business won't happen by itself, but the good news is that today you can start it easier than ever.
