According to the legislation of the Republic of Bulgaria, foreign citizens may buy on the territory of the country buildings but not land. To make the purchase of a plot possible without violating the law, a company should be registered, which will become the owner of the land after its purchase.
   To ensure the comfort and tranquility of its clients, “SUNNY VILLAS” estate agency offers introduction to the organization and requirements of the legislation regulating the process of purchasing property. It is extremely important to us to realize the sale of more than one property. A major moment in the agency policy is that each of our clients is maximally ensured and facilitated in this process.
   In this respect we offer the most suitable variant of purchasing a property by foreign citizens, which is the purchase of an estate through registration of a LLC or a Single-member LLC.
   We also wish to emphasise the availability of other variants concerning the registration of companies under the Commercial Law of Bulgaria. For the purchase of properties the legislation has provided an opportunity for this to happen through the registration of a single-member JSC – EAD, Joint-stock company – JSC, and the aforementioned Limited liability Company – OOD and Single-member LLC - EOOD.
   Limited Liability Company – OOD/EOOD.
   
   OWNERSHIP: Every foreign or Bulgarian citizen, as well as every foreign or Bulgarian company can incorporate an OOD or EOOD. The owners of the company are liable for the company’s obligations to the extent of their interest in it.

   CAPITAL: The necessary capital for the registration of an OOD amounts to 5,000.00 BGN /1,800 British pounds or 2,500 Euros/. The capital must be deposited in a fund-raising account in the Bulgarian bank chosen by you. The owners of the capital must have deposited at least 1/3 of their share by the time of the registration. The total deposit of the capital is recommended.

   FORMATION OF AN OOD: Adopting the form of company organization and holding a Constituency meeting of the owners, where the activity of the company is defined. The Constituency agreement or Articles of Organization is drafted and adopted at the meeting of the owners and after that is subscribed by all of them. The Articles of Organization should include the data for the name, headquarters and the registered office of the company, as well as personal data of the owners. The meeting appoints a manager, determines the object of business, the time of existence, the number of shares of each partner and specifies the registered capital. After receiving the Court certificate for court registration, a registration of the company in the National Registry Agency – BULSTAT follows, and a registration with the tax and social authorities and the authorities for protection of information in the country in the due time. OOD and EOOD fill in annual tax receipts for the realized activity and in some cases publish annual balance report in connection with it.
   “SUNNY VILLAS” estate agency and its partners could engage in the aforementioned drawing up and submission of all documents and procedures listed above for the client’s convenience.

   To do everything necessary for the registration of your company, the following are required:

    Depositing a registration fee for the company totalling 470.00 Euros, including:
    Lawyer fees;
    Notarial fees;
    Court fees;
    Court registration;
    Registration with the National Registry Agency;
    Issuance of a company BULSTAT card;
    Registration with the tax authorities;
    Issuance of a company tax card;
    Registration with the social authorities;
    Issuance of a Certificate of registration by the social authorities;
    Registration with the authorities for protection of the information;
    Devising a company seal;
    Courier fees;