Representation

The right and obligation to represent and manage the “Limited partnership” have only unlimited liability partners. Representation involves a variety of actions - from entering into transactions on behalf of and on behalf of the company to bringing it to court.
Each one of you can represent him alone, insofar as you are not excluded from representation or have formed a collective representation. If you are the only one unlimited liability partner, you will be a sole representative and your power cannot be limited or taken away by limited partners.
When they are several unlimited liability partners and you assign the management to only one or two of you or to a limited liability partner (as a proxy or procurator), you must also enter this circumstance in the Commercial Register. Otherwise, this arrangement will not affect third parties (creditors).

Steps

In order to form a “Limited partnership”, you must first have at least two - one unlimited liability and the other limited liability partner. Once you decide to create a “Limited partnership”, you have to conclude a contract. It reflects your agreement to form a company. The contract is made in writing with notarized certification of our signatures and contains:

• Company name- it consists of the surname of at least one unlimited liability partner and the designation “Limited partnership” or abbreviated “KD”. The names of the limited liability persons are not included;

• Headquarters and address;

• The subject of activity of the company;

• The name, respectively, the company name, the unique identification code, the address of the partners and the amount of the liability of the limited liability partners (may be greater or less than the value of the contribution);

• The type and amount of contributions the partners make. There is no minimum contribution requirement;

• A way to distribute profits and losses between you.

• Manner of management and representation of the company. In addition to the mandatory content, in the company agreement you can agree on other things such as the term for which you establish the company, conditions for leaving, term for notice, etc. However, the fact that the partners have concluded a contract does not mean that your “Limited partnership” has arisen. Your next step is to register it. You can do this in the Commercial Register. You only sign the application for the company registration and submit unlimited liability partners. You have to attach the founding contract to it. The persons, who you have designated with the contract to represent the company, submit samples of their signatures.

Why Bulgarian KD?

Pros & Cons
Pros

Liability limits;

No turnover issues;

Less paperwork;

Investment opportunities;

The general partners take charge.
Cons

Risks to the general partners; 

Compliance challenges.



Bulgaarse vennootschap.be

Wij helpen ondernemers met de uitbouw van hun Bulgaarse vennootschap. De oprichting is slechts de start van het begin. 
ONDERNEMERSCHAP
inboxlicenseusers
en_USEnglish
nl_BENederlands (België) en_USEnglish