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Companies in Bulgaria to register off-court

Date: 29.03.2006

Companies operating in Bulgaria shall register their businesses at the newly established Registry Agency to replace existing court files.

As of 1 October 2006 all business registration will be moved to the new institution. The unified electronic data base will be connected with the National Revenue Agency.

Under the Law on Commercial Register, a central electronic register is created to enable cheaper and faster business registration. It will also simplify and secure procedures accessible via Internet.

The Registry Agency ( ) will further develop a real estate register and an administrative register to assign a unified identification code (UIC) to every merchant.

No stamp duty will be charged for the re-registration, officials explained.

Companies that have not re-registered by October 1 will be automatically deleted, the law says. Thus an important of truly operating companies in Bulgaria will be obtained.

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