NEWS – The Commercial Register
May 8th, 2008
One of the legal aspects, concerning Bulgaria’s membership in the EU, was its obligation to introduce a new Commercial Register. It represents a centralized database, containing a list of all companies, registered in Bulgaria, as well as details about them - name of traders, branches, managerial staff, company’s address, specific documentation, etc. Up to now all these were kept only in the courts’ filing sections as simple paper files. By introducing this innovation, it was made possible for all files to be scanned and entered in the Bulgarian Commercial register in the form of electronic files.
The Register is completely accessible through the internet from any computer, in any country in the world. Presently it is only in Bulgarian and it will take some time for its English version to be introduced as well.
One of the main advantages of the Register is that it offers the possibility for accepting applications, acts of the court and others in electronic form. The only requirements are that you have electronic signature and follow the legal procedure for applying through electronic documents. This will significantly speed up the applications’ processing times and will make the registration of new companies easier.
The Register is maintained by the Bulgarian Registry Agency and they are responsible for guaranteeing the security of the data, contained in it.
In conclusion we would like to inform you that all companies, registered in Bulgaria before 2008 must be pre-registered, in order to be entered in the Register. This is compulsory, but the government has provided a 3-year period for doing it. If you have not done it yet, we advise you to contact your lawyer who can easily do this for you.
