Lawyer
Expert in international corporate, IT, and crypto law. Has extensive experience in business setup and support in the USA, EU, LATAM, and the Middle East. Specializes in corporate structuring, compliance, KYC/AML, IP, GDPR, as well as regulation of crypto and fintech projects.
Case: Legal support for the registration of an IT company in Bulgaria
Service: Support with starting a business in Bulgaria
In October 2025, a Ukrainian entrepreneur contacted Prikhodko & Partners with plans to conduct IT consulting activities through a Bulgarian company and work with foreign counterparties.
The client needed more than simply having the company entered in the register. They needed a corporate structure ready for operation, with properly prepared constitutional documents, a clear management model, a bank account and organised accounting support. A separate objective was to pass the bank’s non-resident review without unnecessary repeated requests for documents.
Case result: the Bulgarian EOOD was entered in the register, and the corporate account with a Bulgarian bank was opened within 2 working days after the complete document package was submitted for the bank’s review.
Initial situation and the client’s objectives
Before starting work, the lawyers established the key parameters of the future business:
- sole owner — a Ukrainian citizen;
- main activity — IT consulting;
- planned cooperation with clients and partners from different countries;
- the need to conclude agreements and receive cashless payments on behalf of the Bulgarian company;
- the need for a corporate account and ongoing accounting support;
- the intention to organise most preparatory procedures remotely.
At this stage, it was important to coordinate the corporate and banking parts of the project. Registration of a legal entity does not itself guarantee account opening: the bank separately reviews the owner, source of funds, business model, counterparties and planned transactions.
Why the EOOD form was selected
The client selected an EOOD — a Bulgarian limited liability company with a sole owner. This form matched the project structure because the entrepreneur intended to own the company individually and independently determine its business activities.
Before submitting the documents, the lawyers also reviewed:
- the details of the owner and future manager;
- the planned business activities of the company;
- the procedure for representation and signing documents;
- requirements for the corporate address and constitutional documents;
- the need for translation and notarisation of documents;
- the initial information that would later be required by the bank for the KYC review.
Stages of legal support
- Preliminary analysis. The lawyers clarified the ownership structure, activities, geography of future payments and the client’s needs regarding company management.
- Preparation of corporate documents. The resolution on company incorporation, the constitutional document and other documents required for the selected EOOD structure were prepared.
- Notarial and translation procedures. The team identified the documents requiring certification and organised their proper execution and translation into Bulgarian.
- Support with the registration procedure. The package was reviewed and submitted to the Bulgarian Commercial Register. Following the review, the company was entered in the register.
- Preparation for bank KYC. The lawyers structured information concerning the owner, source of funds, business activities, future counterparties and expected transactions.
- Communication with the bank. The submission of documents and responses to the bank’s follow-up requests were organised. The final decision on opening the account was made by the bank based on its own review.
- Post-registration support. Accounting services were arranged for the company, and recommendations were provided regarding its ongoing corporate and tax obligations.
Official information about Bulgarian legal entities and electronic services is published by the Registry Agency of Bulgaria.
What documents were used in this case
The documents required to enter the company in the register and the documents required by the bank are separate packages. Their exact composition depends on the ownership structure, submission method, business activity and internal requirements of the selected bank.
| Stage | Documents and information |
|---|---|
| Owner identification | International passport, tax identification number and contact details |
| EOOD incorporation | Resolution on company incorporation, constitutional document, details of the owner and manager |
| Representation | Power of attorney and notarised documents — to the extent they were required for the selected procedure |
| Bank KYC | EOOD registration and constitutional documents, information about the beneficial owner, business model, source of funds, expected turnover and payment geography |
This list describes the specific project and is not a universal document checklist. The registrar, notary or bank may require different documents depending on the circumstances.
How the corporate account was opened
The banking stage was prepared in parallel with the corporate procedure. Before approaching the bank, it was agreed what services the company would provide, where the payments would come from, in which countries the clients would be located and what transaction amounts were expected.
This made it possible to submit a consistent KYC package in which the owner’s details, corporate documents and business description did not contradict one another. Once the registration documents had been obtained, the package was submitted to the bank, while the lawyers supported the subsequent communication.
In this particular case, the account was opened within 2 working days after the complete document package was submitted. This is the actual result of a completed case and not a standard or guaranteed timeframe for other clients. The duration of the review and the decision depend on the bank, the owner’s profile, the business activity and the planned transactions.
Result of the legal support
- a Bulgarian company in the form of an EOOD with a sole owner was established;
- the corporate documents were prepared and properly executed;
- the company was entered in the Bulgarian Commercial Register;
- a package was prepared for the bank’s review of the owner and business model;
- the corporate account with a Bulgarian bank was opened 2 working days after the complete package was submitted;
- accounting support was organised and recommendations were provided regarding further operations.
The value of legal support in this case was not limited to preparing corporate documents. The registration procedure, bank KYC and subsequent accounting were coordinated as a single working process, reducing the risk of inconsistencies and repeated requests.
Do you need legal support for your business in Bulgaria?
The lawyers at Prikhodko & Partners will help assess the corporate structure, prepare the documents, review regulatory and tax risks and organise legal support for the bank KYC process taking into account your business model.
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