Changing a company name in Bulgaria is a process that allows merchants to update and adapt their identity in line with the development of their business and changing market conditions. The process is available to all types of traders, regardless of their legal and organizational structure, and does not require the presence of a specific reason for the change. However, often this change is imposed due to the development of the business, a change in its orientation or the need to more accurately reflect the nature of the activity. The name of any trading company is one of its strongest identifying characteristics, which distinguishes it from competitors and emphasizes its uniqueness in the market.
When deciding to change the name of the company, many prefer to turn to a corporate lawyer, since the process requires specific knowledge and skills in the field of company law. The procedure involves not only the selection of a new name, but also its legal registration, which may include a uniqueness check to ensure that the new name does not match already existing company names. In this context, the lawyer plays a key role in ensuring that all legal and regulatory requirements are complied with, thus avoiding possible legal problems in the future.
Regarding the cost of the procedure, it may vary depending on the complexity of the case and the services provided by the lawyer or consulting firm. It is also necessary to take into account the registration fee of the new name in the relevant commercial registers. In addition, after a successful name change, the company must notify all its partners and customers about the change, which may include updating marketing and corporate materials, a website and any other advertising documentation.
With the ability to change the name, marketers can choose between different options, including the choice of a name that reflects a new business strategy, corporate philosophy, or simply a modernization of the current name. Such decisions are often part of a broader strategy to reposition the company's brand, which can lead to strengthening the corporate identity and increasing the company's visibility in the market.
The company name, also known as a company name, is one of the most important characteristics of any trader. It serves as an individualizing mark that distinguishes one company from another in the market and is a key element in the corporate identity. The right to the company arises with its entry in the Commercial Register, which is a mandatory stage for the legal functioning of any commercial organization. After registration of the name, other traders do not have the right to use the same or similar name in order to avoid the risk of confusion or misunderstanding among customers and partners.
The company name is not only a mandatory legal characteristic, but also a strategic tool for business positioning. It may include various elements, such as the name of the trader, indications of its legal form (such as “Ltd” or “ET”) and other characteristics related to the activity or the founders. It is important to note that the name must be written in Bulgarian, and there is an option to add a translation into a foreign language, provided that it complies with the rules of transliteration, and not a direct translation.
Legislation in Bulgaria also provides for a number of requirements that ensure that the company name is appropriate and not misleading. This includes the requirement that the name is not misleading as to the subject of activity or the status of the trader, that it is not offensive or obscene and that it does not violate public order and good manners. Also, the name should not be identical or too close to already existing trademarks, unless the company owns the rights to that mark.
The process of choosing a company name includes a mandatory check in the Commercial Register for uniqueness, looking for similar or identical names. The presence of similar names can lead to refusal of registration, which emphasizes the importance of careful selection and initial verification. It is important to note that the presence of blanks, dots and dashes in the name are not considered sufficient differences, therefore, the choice of a unique name requires careful and methodical study.
Changing the name of a company is a process that can be initiated at the request of the merchant who registered the company. This process is particularly important when a firm's identity needs to be updated to reflect changes in business strategy, corporate structure, or other key aspects of the business. It is important to note that if the company contains the name of a departing partner, it can be retained only with his express consent, which guarantees the protection of personal rights and interests of all parties.
The procedure for changing the name of a company includes the filing of Application A4, where the desired change is noted. The applicant may be the manager or managers of the respective firm, or a lawyer acting on their behalf. An important document in the process is a copy of the Company Agreement, which must include the new change. It is also essential to submit a decision to the General Meeting on changing the name, adopted by a majority of ¾ of the capital of the company. This decision shows that the change is supported by the majority of capital, which ensures the legality of the process.
Additionally, it is necessary to submit a declaration under Art. 13, para. 4 ZTR, which certifies the veracity of the circumstances requested for registration. It is also necessary to provide a payment order for the paid state fee, which is evidence of the fulfillment of financial obligations related to the procedure. In cases where the application is submitted by a lawyer, a power of attorney is also required.
All these documents can be submitted to any of the territorial units of the Registry Agency or electronically. This ensures the convenience and accessibility of the procedure for all traders. Upon successful submission of all necessary documents that are neat and meet the legal requirements, and if the newly chosen name is free and does not conflict with already registered companies or brands, the changes are usually entered in the register within 3-4 days. This fast and efficient process allows companies to update their identity with minimal delays, thus maintaining their competitiveness and reputation in the market.
The process of changing a company name is a key point in the development of any business and requires careful planning and compliance with legal procedures. At Elan Consulting we understand the importance of this step and offer full support and professional services for its successful implementation.
When the company is a limited liability company (LLC), joint-stock company (JSC) or limited partnership with shares (KDA), the first step in the process of changing the name is the decision of the general meeting of shareholders. In the case of a sole proprietorship with limited liability (EOOD) or a sole proprietorship (EAD), the decision is made by the sole proprietor of the capital. This decision is the starting point for all subsequent actions.
After the decision to change the name, it is necessary to make the relevant amendments to the constituent documents of the company — the company agreement for the Ltd or the articles of association for AD, KDA and EAD. This is a mandatory step, since the name of the company is indicated in these documents, and they must reflect current information about the company.
For sole traders (ET), the name change process can be more specific. The company name of ET necessarily includes the personal and surname or patronymic of the trader. The change of the company name may occur when transferring the enterprise or when changing the surname, for example, after a divorce. In such cases, the decision to change the name and subsequent registration in the Commercial Register are essential to keep the commercial identity up to date.
When it comes to different types of merchants' associations, such as holding companies or consortia, the procedure for changing the name also follows certain rules. Depending on the legal form of the company, the process involves making a decision by the relevant management body and registering the change in the Commercial Register.
At Elan Consulting we understand the complexity and importance of this process and offer our clients comprehensive solutions and professional support at every step. Our team is scheduled to assist you with legal advice, preparation of necessary documentation and management of the entire process to ensure smooth and successful passage through all stages of your company name change.
In Elan Consulting, the price for changing a company name in 2024 in Bulgaria includes a set of services and fees that ensure the completeness and legality of the process. Depending on the company form - sole proprietorship with limited liability (LTD), joint-stock company (JSC) or other, the price for changing the name starts from 100 BGN. This package includes all necessary additional expenses, the price is fixed and there are no hidden fees.
The process of changing the name begins with an appointment at the office of the registration agency or the relevant consulting firm, the presence of the legal representative of the company is mandatory. During the meeting, clients receive consultations on all issues related to the procedure and the Commercial Register. After that, the necessary documents are prepared and signed, the whole process takes no more than 20 minutes. Customers receive an incoming number that allows them to track the status of their application online.
The price includes the following components:
For customers who wish to change the name of their company to English or Russian, the price is usually twice as high. This is due to the additional complexity and the need for translations and specialized preparation of documentation. This option is particularly useful for companies that operate internationally or have partners and clients outside Bulgaria.
It is important to note that changing a company name is a process that requires careful preparation and accurate adherence to procedures to ensure that the new name is legal and unique. Therefore, the possibility of using professional services greatly facilitates the process and reduces the risk of legal problems.
The choice of “Elan Consulting” and a lawyer specializing in corporate law for the process of changing the name of a company is a solution that brings a number of advantages and guarantees for the success of this important change in your corporate identity. We at Elan Consulting understand that changing the name of a company is not just an administrative act, but a key moment in the development of your business, which can have a long-term impact on your corporate reputation and brand positioning.
First of all, at Elan Consulting we offer in-depth knowledge and experience in the field of corporate law. Our partners - corporate lawyers specialize in the nuances of company law and are equipped with the necessary skills to effectively manage the entire process — from the initial consultation to the successful registration of the new name. This provides peace of mind and security that your change is carried out legally and professionally.
Secondly, we provide a personalized approach to each client. We understand that every company is unique, and we are committed to providing customized solutions that meet the specific needs and goals of your business. Our goal is not only to facilitate the administrative part of the process, but also to support the development of your company, taking into account its unique business strategy and market position.
Thirdly, “Elan Consulting” offers full support throughout the process. From the initial consultation to the finalization of the change, our team is available to answer all your questions and ensure the smooth running of the procedure. We ensure transparency at every step and keep you informed about the progress of the process.
Fourthly, the specialized services of “Elan Consulting” include assistance in the preparation of all necessary documents and assistance in their submission to the Commercial Register. Our expertise in this area significantly speeds up the process and minimizes the risk of errors that can lead to delays or additional costs.
Finally, choosing Elan Consulting gives you peace of mind that the change of your company name is carried out by a team of professionals who are committed to your interests and success. Our goal is to provide not only legal services, but also strategic advice to support the growth and development of your business.
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The cost of changing a company name in 2024 may vary depending on the specific requirements and complexity of the process. Typically, this price includes government fees, bank fees, service charge and consulting services. In “Elan Consulting” we offer competitive prices for this service, guaranteeing full transparency and high quality of service.
After the successful change of company name, it is important to notify all interested parties, including customers, suppliers, banks and other business partners. This notification often includes updating all business documents, marketing materials, and the company's website. At Elan Consulting we can help you with the organization and management of this process.
Options for changing the name of a company include the choice of a new name that better reflects the essence and strategy of the business, as well as changes related to the corporate structure or ownership of the company. It is important that the new name is unique and meets all legal requirements. Our role at Elan Consulting is to assist you in choosing and to ensure that the change is in accordance with the legal framework.
