What the law requires
- ✓The agreement is concluded with notarization of the signatures and content, carried out simultaneously (Art. 129(2) of the Commerce Act).
- ✓The transferor and the manager declare that the company has no unpaid wages, benefits, or social security contributions owed to employees.
- ✓For a transfer to a third party in an OOD, a resolution of the general meeting admitting the new partner is required.
- ✓The change is entered in the Commercial Register within a 7-day period.
Tax consequences
The seller's profit — an individual's profit from selling shares — is taxed at 10% under the Personal Income Tax Act and must be declared in the annual tax return. For the sale of an entire company, we recommend a prior review of the accounting balances and liabilities — we include this at no extra charge for subscription clients.
Prices
| Case | Price incl. state fee |
|---|---|
| Sale of the entire EOOD (new owner = new manager) | from €225 + notary |
| Transfer of part of the shares between partners | from €225 + notary |
| Admission of a new partner (EOOD → OOD) | from €225 + notary |
| Prior review of balances and liabilities for the buyer | €120 (free with a subscription) |
VAT excluded. Notary fees for certifying the agreement follow the notary's own tariff (typically €30–€80). Clients who don't speak Bulgarian require a bilingual document translation — a mandatory €30 surcharge.
Process
- 1
Deal terms
Price, shares, transfer date, handover of management.
- 2
Documents
Agreement, resolutions, declarations under Art. 129, updated articles of association. Template: share transfer agreement.
- 3
Notary
Certification of the agreement and — where there's a new manager — of the signature specimen.
- 4
Registration
Application form A4 with the Commercial Register. The Register rules once 3 working days have passed since filing (Art. 19(2) of the Commercial Register Act).
Frequently asked questions
Can the buyer be a foreign national?
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Yes. A passport is enough for an individual buyer; a foreign company needs a certificate of good standing with an apostille and a translation. If the buyer doesn't speak Bulgarian, a sworn translator attends at the notary.
What happens to the company's liabilities upon a sale?
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Liabilities remain with the company. The buyer should obtain an accounting statement of balances and a declaration of no outstanding liabilities to staff.
Sources
Commerce Act (Art. 129, Art. 137); Personal Income Tax Act (Art. 33); Commercial Register and Register of Non-Profit Legal Entities Act. Verified on 3 September 2026.
Please note
Bulsmetka is a private accounting firm, not a government authority. This information is general in nature and does not replace individual consultation. State fees for this service are included in the price.