Registration of a Bulgarian company on the electronic register:
Why do I need to register is always the question this site is created with facts. If you own property or land in Bulgaria through a registered company the Bulgarian government now requires that your register the company by the end of 2010 the suggested period
would be 30th June but this is only a guideline. Applying only to those Bulgarian Companies which were created prior to January 2008, as they have been entered into the register.
Failure to register or re-register will result in the loss of the company and its assets (property, land etc.) and you will also incur a fine and will have to pay for the procedure to close the company. This could result in the company be broken down and sold off and may still be in the situation of owing money to the Bulgarian Government, which may follow you to your residential address.
Below is the basic protocol for the re registration of a Bulgarian OOD or EOOD (Ltd) company.
THE RE-REGISTRATION PROCEDURE OPERATES IN 2 STAGES
The first stage:
Requires proof of the existing company, the correct Power Of Attorney to have a certification issued with the current company status. Also a 'Request Application' form, signed by the manager of the Bulgarian company, for the Bulgarian representatives to implement the legal process.
The second stage:
Requires that all company documentation be processed to the Trade Register to be re-accepted and the company re-registered. This will need a second Power Of Attorney to be prepared, signed by the manager and all shareholders of the company.
The procedure for registration will be as follows:
We will take care of the administration procedure on your behalf, through the following process:
1. You will need to sign an agreement for Bg Consultant ltd to proceed with administration management and legal requirement for the re-registration of your company. Return to our BG office.
2. Forward the legal and administration fee of 300 EURO for the company re registration to the process.
Payment to be made directly into Bg Consultant ltd client account:
3. The manager of the company must sign an official, English/Bulgarian copy of the Power Of Attorney and a 'Request Application' form for the completion of Stage 1 of the process. Return the documents to our BG office.
4. These will be for the Bulgarian representatives to implement for the first stage of company re-registration will be implemented.
5. We will create and forward to you the second Power Of Attorney which will need to be signed by the manager and all shareholders of the company.
When all correctly signed documents are in Bulgaria we will action and administrate the 2nd and final stage of re-registration.
Once your companys re-registration is complete we will inform you and provide you with the certification your Company will also be part of the new public register.
IMPORTANT INFORMATION
Power Of Attorney
A Power of Attorney is a legal document that you sign to authorise us to carry out on your behalf the re-registration process. None of the Power of Attorneys required for re-registration of a Bulgarian company need to be notarised, they are also limited to the job in hand ONLY!
Also required is a 'Request Application' form, signed by the manager of the Bulgarian company, for the Bulgarian representatives to implement the legal process.
Company papers and Company stamp.
the secondary and as important issue relates to the papers of your company and your official Company stamp.
Company papers held in Bulgaria:
If your company papers and Company stamp are held by us on file in Bulgaria there is no problem for us to prepare these for representation to the authorities.
Company papers and Company stamp held personally by yourself in the U.K. or with an agent in Bulgaria:
If you hold your papers personally here in the UK then we have to be able to have these papers sent to Bulgaria for processing the re- registration. If you have your documents please call our Bg office 00359 608 41454 and we can make specific arrangements for the documents to be processed.
If another agent, either in the U.K. or Bulgaria, holds your papers we will require a letter of authorisation from you to enable us to obtain your papers from them. Depending on their location, this could incur an additional charge.
Please be aware that copies of the original papers are acceptable, the official Company stamp will be required and this will incur a secure courier service charge.
If we did not originally register your company for you, we will also require up-to-date copies of the managers and all shareholder(s) passports and a copy of the original BULSTAT card.
Lost or misplaced papers:
Lost or misplaced company papers can be replaced but will incur additional Legal fees.
Company auditing
Please do not confuse this re-registering with your annual company auditing.
Our fees for re-registering a Bulgarian company are 300.00. EURO
The fees cover the following procedures:
Legal fees, application for processing, creation of P.O.A.s, documentation collection from regional municipalities, translations, collection and return of all documents to and from municipal/trade register offices, bank charges and transfer of currency to Bulgaria.
Please note that additional costs will be incurred if you require name changes and share holding status.
Special delivery by DHL for late payment /return.
The procedures detailed above are our understanding of the Bulgarian Company re-registration process as of December 2009. We will endeavour to keep the details up-to-date; Bg Consultant ltd will not be liable for any additional costs that might be incurred due to changes in the procedures that are made by the Government of Bulgaria.
