A single-person private limited liability company is called "EOOD". It is owned by a natural or a legal person, the sole shareholder exercises the powers of the general meeting and the managing director or board of directors is appointed to run the company. A private limited company must prepare a balance sheet and financial statements each year.

Here is a general explanation of what is needed to set up a private limited company in Bulgaria:

• produce its articles of association (Memorandum of Association - in the case of a single-person private limited company); the Law on Commerce stipulates the obligatory provisions of the articles;
• have appointed a managing director (or board of directors);
• have paid up at least 70% of its authorized capital, including at least one-third of each member's contribution.

This information together with details of the management, etc., is recorded in the commercial register and promulgated in the State Gazette.
 

Step by Step Guide to Setting Up a Single Person Private Limited Liability Company in Bulgaria - (EOOD)