Partnership limited by shares

Description

The partnership limited by shares, or PLS, is a company governed by two types of partners: limitedly and unlimitedly liable. Bulgarian law requires at least one unlimitedly liable partner and at least three limitedly liable partners. PLS is established by the unlimitedly liable partner(s) who has the legal right to select the other stakeholders and is liable for the obligations of the legal entity with its personal property. The other partners are liable for sums no larger than the amount they have deposited. Minimum capital of BGN 50 000 (approx. EUR 25 000) is required.The abbreviation KDA, which is the Bulgarian equivalent of PLS, must be included in the name of the entity.

Characteristics:

Name restrictions	The name must be unique. Our customer services centre can check if a specific company name is available.
Local address requirement	Yes
Minimum authorized capital	BGN 50 000 (approx EUR 25 000)
Minimum number of directors	3 of any nationality
Director eligibility	Individuals and legal entities
Minimum number of partners	At least 4 of any country – 3 limitedly liable and 1 unlimitedly liable
Partners eligibility	Individuals and legal entities
Legal form	KDA (corresponds to Partnership limited by shares)
Requirement for a local director or a partner	No, but using a local nominee director or a partner is recommended under certain circumstances
Requirement for accounting	Yes
Corporate flat tax rate	10% on the net profit

Fees

Services included in the price

Preparation of all documents for the partnership formation
Translation of the partnership documents in English
Legalisation of documents notarised abroad
Depositing the company capital into a capital raising account
State fees and revenue stamps
Providing Certificate of Incorporation and Articles of Association translated in English

Price of the included services: 800,00 EUR

Optional services

Registered office + mailing address (300,00 EUR / per year)

Any company, no matter domestic or foreign one, must have registered office in Bulgaria to which communications and notices from government institutions will be addressed. The official registered address is also visited by tax authorities. If you want to save money from opening your own office, you can select the Registered office + mailing address service. We will answer with the name of your company and confirm that the company is registered at this address. We will notify you for any mail received and visits by governmental or other institutions.

VAT registration (130,00 EUR)

VAT registration is voluntary except in some cases. Contact us so we can check whether your business activities are subject to mandatory registration.

Obtaining an EORI number (100,00 EUR)

EORI number is required by the EU regulations for all entities sending and receiving parcels outside the EU. It is needed when dealing with customs administration in any of the EU member states.

Opening bank accounts in a Bulgarian bank (200,00 EUR)

Depending on your preferences and needs we can open bank accounts in different currencies. E-banking is available for account operations via Internet. Bank cards can be issued with a brand of your choice. There are only a couple of banks that allow remote issuance of a bank card. In most cases opening bank account is possible remotely without being present in the bank in person, but some banks reserve the right to request presence in person under certain circumstances.

Opening a virtual POS terminal (200,00 EUR)

The service includes: Concluding an agreement with a financial institution, preferred by the client Opening bank account Providing a programme code, which can be implemented on the client`s website. It is packed with the technical information you need. Assistance in the communication with the financial institution in connection with conforming to the technical requirements of the website.

Obtaining Apostilles on the Certificate of Incorporation and Articles of Association (60,00 EUR)

We will provide Certificate of Incorporation and Articles of Association translated in English. However, these documents do not bear Apostille. If you wish one for each document, check this option.

A company logo (80,00 EUR)

We will design a company logo according to your guidelines. If you do not have an idea of how your logo should look like, we will make 3 variations for logo to choose from.

Creation of a company stamp (30,00 EUR)

We will make a stamp for you in the shape, color and text you prefer.

Internet domain registration .bg (40,00 EUR / per year)

We will register a website name on your choice with an internet domain .bg. The name you prefer must be unoccupied.

Providing a Bulgarian landline number (20,00 EUR)

We will provide you with a Bulgarian landline geographical number (preferably prepaid) and you will have the opportunity to decide from which city and choose a number to your liking. After activating the number you will be able to use it through SIP from any device maintaining this protocol, such as computer and Smartphone.

Required documents

The documents required for performing this service are as follows:

Valid international or domestic passport, or national ID card of each of the directors (and shareholder, provided those are different individuals);
Notary certified specimen signature of each director;
If a partner in the partnership shall be a foreign legal entity, you shall need a document proving the existence of the said legal entity.

After you submit an order and send your scanned passport, we will fill out all documents with your personal information, including your specimen signature and will send them to you together with detailed instructions so you can read and sign them.

Notary certifications can be carried out in every Bulgarian consulate, or if there is no Bulgarian consulate at your location, the notary certification may be carried out by any foreign notary.

If the notary certification is carried out by a foreign notary, or if а partner in the Bulgarian partnership shall be a foreign legal entity, please contact us for more information, because the requirements are different for the different countries.