The name of the company must be unique - there should be no other company with this name. Having a company with an identical name is the most common reason for being denied registration.
They are quick and easy from the start
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There should be no other company with the same name
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The name does not necessarily correspond to the activity, but it cannot describe activities that require a license or permit
Characters such as &, + and similar are not allowed
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The law obliges certain activities to be entered in the name of the company
The most important thing is that the name of the company is unique, this means that there should not be another company with the same name. Adding an additional 1 letter results in a unique company name. It is not a problem that the name is similar, but there are some peculiarities that must be observed. Most importantly, the presence of blanks, dots or dashes is not accepted as a difference between two firms. Below we indicate names that the Commercial Registry considers the same:
You want the name of the company to be - VAT TRANS, but you understand that it is already occupied. You decide to add a second, additional letter “C” in the word TRANS for the name to be unique and it becomes unique - namely VAT TRANS. You already have a reason to register the name in question since it does not exist, but the probability that the registration official will refuse entry is almost 99%, because in practice it is also important how the name of the company is pronounced aloud, to clearly and distinctly hear this difference from the added letter. In this case, the addition of a second letter “C in TRANS” is lost when pronouncing. This is the reason for this company to be refused. Therefore, do not add 2 identical letters to create a difference as it is very likely that this approach will not help in some cases. We recommend that if the name is important to you, contact us.
Misleading can be a name that clearly does not correspond to the activity of the firm. For example, if your company does transport activityand logistics, it can not be called an “insurance company”.
In some cases, the law binds the specific activity of a company to its name. Thus, for example, the law on medical institutions requires dentists to include in the name of their company the expression “Individual practice for primary dental care” and to add to it the name of the doctor who owns the company.
There is also a mandatory rule for sole traders who indicate their name and surname in the name of their company, together with a supplement chosen by them at random.
In other cases, the subject of activity of the company must be consistent with its name. If the word “Insurance broker” is present in the name of the company, then the activity must correspond to that provided for insurance brokers and be certified by a document from the specific institution responsible for this, in this case, the CFN.
Our example will be about an insurance broker and steps for successful introduction of the name Cars Auto Insurance Broker EOOD.
The main name of the company should always be written in Cyrillic. In addition to the letters of the Bulgarian alphabet are permission and punctuation marks - dots and dashes. Characters that are not part of the Bulgarian alphabet such as “&”, “+” and the like are not allowed.
The company may also have a name in English or in Latin letters. However, it should not be a translation of the name into Bulgarian, but a transliteration. Example: “VAT TAX” becomes “VAT TAX”, and practice shows that names that are written in a foreign language are also allowed - such as Online Shop Ltd., becomes “Onlain Shop”, Online Shop, etc.
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