D&B Report Guide - Bulgaria

Facts and figures:

Country Bulgaria
International Dialling Code 359
Legal Currencies Lev (BLG)
Population 7.9 million
Capital Sofia
Language Bulgarian
Time GMT +1

D&B Business Information Report content:

D&B Rating Yes Credit Appraisal Yes
Public Data Yes Financial Ratios n/a
D&B Payment Score n/a    

Legal forms in Bulgaria:

Legal Form Legal Form (local)
Proprietorship Ednolichen Targovetz (ET)
General Partnership Sabiratelno Drugestvo
Limited Partnership Komanditno Drugestvo (KD)
Limited Liability Co Ednolichno Drujestvo s Ogranichena otgovornost EOOD
Joint Stock Co Ednolichno Aktsionerno Drujestvo EAD
Partnership limited by shares Komanditno Drugestvo Aktzii (KDA)
Agricultural Co-operative Zemedelska Kooperatzia
Foreign Co Targovsko Predstavitelstvo (TP)

 

  Name
Address
Principals		 Reg Date
Number
Start Date		 Capital
(minimum)		 Ownership
(minimum number)
Proprietorship Yes Yes None 1
General Partnership Yes Yes None 2
Limited Partnership Yes Yes None 2
Limited Liability Co Yes Yes 5,000 BLG 1
Joint Stock Co Yes Yes 50,000 BLG 1
Partnership limited by shares Yes Yes None 1
Agricultural Co-operative Yes Yes None 7
Foreign Co n/a n/a - -

'None'  means that there is no minimum capital requirement for these types of companies.
A Limited Liability Company with more than one owner is Drujestvo s Ogranichena Otgovornost - ODD. A Joint Stock Company with more than one owner is Aktsionerno Drujestvo - AD.

Legal filing requirements:

Joint Stock companies in Bulgaria are required to publish their annual balance sheet in a newspaper and in a Court Trade Register. However, the compliance rate is very low as companies prefer to pay a fine in order to avoid publishing their financials. The requirements of submitting financials to the Court Trade Register commenced in 2002.

It is not compulsory for all other company types to officially present their financial statements.

In general terms, financial statements are only available if the company discloses them or if other sources linked with Tax Authorities or State Administration supply a copy of collected financial records.

D&B Business Information Report - data sources and data elements:

Here is a breakdown of information available in Bulgaria and where this information is obtained from.

Court Trade Registrars and State Gazette:

  • Articles of Association
  • resolutions of the annual shareholders meetings
  • shareholders and percentage of shares held
  • legal suits and bankruptcies
  • financial statements for Joint Stock Companies
  • protested bills

Bulgaria National Bank (Central Bank in Bulgaria):

  • Register of Pledges presented by a company
  • Credit Register of borrowings received by all companies active in the country

State Registrars in Ministry of Industry, National Statistic Institute, Regional Office of Tax Authorities and related State organisations:

  • financial statements
  • protested bills
  • field of activities and market territory
  • premises/branches/divisions/employees
  • affiliations
  • resolutions of the annual shareholders meetings

Direct telephone interview:
  • activity/market territory
  • client type & number
  • premises/branches/divisions/employees
  • affiliations
  • principals' antecedents
  • expansion plans
  • balance sheets/profit & loss/projected sales

Business publications and news clippings:
  • news articles concerning the subject company and its shareholders

Regional Arbitration Court

  • bankruptcies
  • legal suits
  • payments habits and protested bills

All publicly available data is collected and verified from each of the above data sources by our locally positioned D&B Correspondent for each Business Information Report request received.

Speed of service: 4 working days

Should you require any further information or have any questions, please contact your local Customer Service Centre.

Business Information Report enquiries which are placed with D&B's Emerging Markets Centre should always contain the below details. Unfortunately, enquiries without the below information have a much higher chance of being returned as an Unable To Locate Report. This is simply due to the fact that data sources in the Emerging Markets are not as sophisticated as those in Western Europe.

  • Full Company Name
  • Full Head Quarters Address (street, town, country)
  • Telephone Number
  • Fax Number

Any additional information such as a contact name or line of business would also help to locate the subject of your enquiry.