Public Limited Corporation in Bulgaria
The minimum capital of a Public Limited Corporation is BGN 50.000,- (which is approximately EUR 25.000,-). For the Public Limited Corporation of banks, insurance companies and health insurance companies, the minimum capital is defined in a special law. At least 25 per cent of the basic capital must be paid at the registration. Formation of a Public Limited Corporation of One Member (“EAD”) is allowed. The Article of Incorporation does not require a notarial registration. At the formation with non-monetary deposit (personal estate), a resolution about agreement of a depositor together with a specification of non-monetary deposit must be certified by a notary public. The special conditions for formation and function of a Public Limited Corporation are amended in Article 110ff, The Stock Exchange Law (The Code of Law 1., No. 114 of 1999, valid wording of the law No. 105 of 22 December 2006).
The bodies of a Public Limited Corporation consist of the General Assembly and unlike in Austria, according to a choice - a one-tier board system, only the Board of Directors, or a two-tier board system, the Supervisory Board and the Board of Directors (Article 219).
In terms of formation and registration as well as for creating a statute it is absolutely recommended to involve an experienced lawyer or for accounting and writing and balance involve a tax consultant.
After the certification of incorporation, a Public Limited Corporation becomes a legal entity.
Service of INTERNATIONAL ECONOMICS AUSTRIA(IEA)