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Bulgarian Structure

Limited Liability Companies

Pursuant to the Bulgarian Commerce Act a Limited Liability Company must have the following organizational structure:

  1. Managing Director(s) (in Bulgarian: “Управител(и)“) only.

Joint Stock Companies

Pursuant to the Bulgarian Commerce Act a Joint Stock Company must have one of the following organizational structures:

  1. A Supervisory Board (in Bulgarian: “Надзорен съвет“) and an Executive Board (in Bulgarian: “Управителен съвет“).
  2. A Board of Directors (in Bulgarian: “Съвет на директорите“) only.

Please see, respectively, “Managing Director”, “Supervisory Board”, “Executive Board” and “Board of Directors” in the left side menu for a more in-depth description of each structure, including how to change the respective board members.

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Penkov, Markov and Partners (“PM&P”) has provided all input about changing board members in [...] Bulgaria.

Established in 1990 Penkov, Markov & Partners is one of the first law firms in Bulgaria having nowadays the biggest and most significant client portfolios, and being respected both domestically and internationally.

PM&P advises clients on a wide range of legal matters with an emphasis on commercial and company law, banking and finance law, M&A, securities transactions, development of high-profile real estate projects, competition and antitrust law, licesing and know-how, IP law and litigation and arbitration.

For more information about PM&P and changing board members in Bulgaria, please use the below contacts:

TEL: +359 (0) 2 971 39 35
EMAIL: vladimir.penkov@penkov-markov.eu
WEB: www.penkov-markov.eu