Last Updated on February 26, 2022 by Bulgarian attorney
Appointing a director in a Bulgarian company
As with selling the shares of a Bulgarian company, the appointment or resignation of a director also requires certified authorisation (having the Power of Attorney witnessed).
The PoA can be witnessed at the nearest Bulgarian embassy or general consulate, or with a local notary in your jurisdiction.
For more information about the available certification and legalisation options in your jurisdiction, please get in touch with our team.
Appointing a new director at your Bulgarian company can be appropriate in specific situations.
A new director may allow you to delegate some of your responsibilities and focus on growing your business. Some see this as a smart way of avoiding liabilities by getting rid of the company by transferring it to someone else.
What documents are required to appoint a new director?
The new director must provide a copy of their passport to draft the set of documents required for their appointment. The director has to certify a Power of Attorney and Specimen. A certified passport copy is not required; a plain copy sent by email is sufficient. You are not required to provide utility bills or any other documentation.
How long does it take to appoint a director?
The appointment of a director, like any other change in company circumstances, takes 5-7 working days from the day of receiving the duly certified and legalised Power of Attorney.
For more information about appointing a new director or nominee, please get in touch with our team.