BULGARIA

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BULGARIAN STRUCTURE

Choose the type of company you are changing board member in

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.
Please see “Managing Director(s)” below for a more in-depth description of the board type, including how to change the respective board members.

For a description of how to change the respective board members, please see the individual steps below.
As all information on how to change board members in Bulgaria on the LCB Site by nature is generic (i.e. does not include specific requirements for listed companies, special requirements in statutory documents or as otherwise stipulated in any type of special law), we strongly recommend seeking legal advice before actually changing any board members in Bulgaria.

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, “Supervisory Board”, “Executive Board” and “Board of Directors” below for a more in-depth description of each board type, including how to change the respective board members.


For a description of how to change the respective board members, please see the individual steps below.
As all information on how to change board members in Bulgaria on the LCB Site by nature is generic (i.e. does not include specific requirements for listed companies, special requirements in statutory documents or as otherwise stipulated in any type of special law), we strongly recommend seeking legal advice before actually changing any board members in Bulgaria.

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Penkov, Markov and Partners (“PM&P”) has provided all input about changing board members 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 contact our Partner directly.

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