Verification of a Bulgarian Company

Verification of a Bulgarian Company

Updated on Friday 07th February 2020

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The verification of a Bulgarian company is usually requested when foreign investors decide to purchase a Bulgarian company, rather than set up a new legal entity. Although investors benefit from certain advantages when they purchase a shelf company in Bulgaria, it is advisable to seek the services of a Bulgarian law firm.
The lawyers in Bulgaria will know exactly how to conduct the entire procedure of company verification, to ensure that the purchase runs smoothly and the new owner will take over a profitable company.

Why verify a Bulgarian company

The verification of a company gives access to valuable information, regarding both the company and its shareholders. A pre-verification can be performed before deciding to enter a joint venture with a Bulgarian company or before deciding to purchase shares. A quick insight might make the difference between a very successful business investment and a less successful purchase. Background checks may be needed when requesting information about a certain shareholder in the company.

Regular and exhaustive company verification in Bulgaria

Your interests in the company can determine the type of company verification. Our lawyers in Bulgaria can perform two types of company verification:
- a regular company verification;
- an extended company verification.
Regular company verification in Bulgaria typically includes a number of basic documents that can attest details about the company. An extract from the Bulgarian Trade Register will provide information about the company, such as: complete name, address, registration date, management board and other details. A copy of the company’s Articles of Association can also be requested and the most recent account of the company will provide useful information about the income and profits of the company. EORI verification is also possible for companies that are registered in this EU database.
For an exhaustive verification of a Bulgarian company, our Bulgarian lawyers can request additional information from the Bulgarian authorities. Apart from the documents usually issued for a regular verification, our law firm in Bulgaria can also provide a financial audit that will give further insight on the financial status of the company. This ensures the buyer that the company has fulfilled all its tax obligations in Bulgaria. Past contracts, business relationships and payments made for current and previous business partners can also be checked.
Our attorneys in Bulgaria can offer you full assistance for a complete legal verification and due diligence in Bulgaria. Contact us for more information.