Transfer of Ltd company.

Last activity 08 April 2024 by jasmith837

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jasmith837Active member08 April 2024 12:51:28

Hi all.

I have tried to search but must not be doing it correctly. I'm sure that this has been asked before.

Hopefully I will be buying a house soon. A question has arisen regarding Ltd company. If I buy from a brit who is going back to the UK, would it be possible/ easier to transfer the company rather than me forming and them dissolving?

Hope this makes sense.

gwynjBulgaria Expert08 April 2024 14:36:33

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@jasmith837

It would be possible, and it would probably be easier/quicker. That's because you're transferring the shares of a Bulgarian EOOD (which owns a property), rather than you actually buying/transferring a property.

The issue is how you verify the status of the company and its debts. I've never done this, so I don't know what's involved... but I'd guess you'd need an attorney to do some due diligence, rather than expecting the notary to check for you.

My guess is that the cost of an attorney doing due diligence is more than the cost of buying your own new EOOD.

Hopefully, there's someone here who's already done it and can advise us.

jasmith837Active member08 April 2024 17:31:26

@gwynj

Many thanks for the reply. I'm beginning to think that it will be cheaper and more straightforward to just get my own.

Regards James.

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