Bulgarian Company Re-registration bulgarian company reregistration

Re-registration of a Bulgarian Ltd. Company � P.O.A euro

Unified register of legal entities
According to the Law for The Commercial Register and the Regulation for book-keeping, storage and access to The Commercial Registry, The Registry Agency has an obligation to serve all activities related to the united register of legal persons.
The strategy for setting up a central register of legal entities and Electronic Registries Centre of Republic of Bulgaria was adopted by the Government in 2005. Its aim is to introduce a modern centralized electronic registry system through the establishment of the Central Register of Legal Persons and Electronic Registry Centre.

The reform of the registry system in Bulgaria is in line with the Bulgarian legal realities and the needs of the business and public life. It takes the experience of modern registry systems, based on the idea of transformation of the registration procedures from the court into administrative and is based on the following principles:
� unification, standardization and centralization of the kept registers;
� cheap and faster registration;
� simple and safe procedures;
� electronic databases, publicly available via the Internet;
� unique identification number for each person.

The construction in Bulgaria of an Electronic Registries Centre and its possible subsequent inclusion in the European system of commercial registers - European Business Register, would provide ample opportunities for the country for full and effective participation in the European trade.

The first stage of building a United Registry Centre includes the following stages:
- A Central electronic commercial register and a Register of cooperation�s;
- A Central electronic register of the legal persons with non-profit aim;
- A Central electronic register of the state enterprises;
- A Central electronic register of the government institutions.

Any company that is registered before 2008 must be re-registered not later than 31.12.2010. Therefore, the law sets a period of 3 years for this, since the law entry is in force as of 01.01.2008. Failure to implement the deadline for re-registration, the company would be liquidated carried out through official channels. During the liquidation of a company, the court shall appoint an official liquidator who announces any movable and immovable property of the company by public auction. Each re-registration of a company is followed by other requirements of the law, which also have set a deadline for implementation and so on, each new requirement is a part of something else. For all of them, the legislature has set deadlines for implementation.