The Commercial Register is a unified centralized electronic database containing the entered circumstances about the companies and other merchants; it is kept by the Registry Agency with the Ministry of Justice. Companies-related circumstances that are subject to entry are those for which there are provisions of a law requiring such entry. The legal effect of the various entries into the Commercial Register is governed by the Commercial Register Act.
Each company is obligated to request its registration in the Commercial Register by filing an application to that effect; companies are also required to file applications whenever changes in already recorded circumstances occur. The said obligation needs to be performed within 7 days period from the occurrence of the respective circumstance, unless another time limit has been prescribed by the law.
The circumstances subject to entry are of various types and are provided for in different laws – they are the basis of the registration proceedings before the Commercial Register, governed by the Commercial Register Act and Ordinance No. 1 of 14.02.2007 for administration, keeping of and access to the Commercial Register.
For the purposes of the current service’s presentation the filings with the Commercial Register could be seen in two large groups: entries of changes and entries of additional circumstances. Some of the more common instances are listed below, excluding the circumstances falling under other services (Transfer of Companies, Transformation of Companies and Dissolution of Companies).
Entries of changes in already registered circumstances include various instances, such as: changes in the management (change, removal, deletion, appointment, etc., of a director or a member of a management body); changes in the registered capital (increase of the capital via monetary or non-monetary contributions, decrease of the capital); changes in other circumstances (change of the company name, change of address of management, changes in the scope of activity, etc.).
Entries of additional circumstances also refer to various instances, such as: entering or deletion of a procurator; registration of a branch; registration of a pledge (on capital shares or commercial enterprise); indication of main activity as per NCEA, address for correspondence with the NRA on the territory of the country; declaring beneficial owners, etc.
As a lawyer practicing in the field of corporate and company law I have extensive experience in registration proceedings before the Bulgarian Commercial Register – having had numerous occasions to assist in procedures for registration of the above mentioned changes and circumstances, as well as for publication of various types of acts, such as annual financial statements.
Detailed information about some of the most common instances of changes and circumstances, including information about the necessary documents and costs, may be found in the articles of the Info Center – see also the links listed in the right section of the page under Related Procedures.
You can request the service either at a personal meeting in my office or remotely (at a distance) – via phone or email. The service in terms of some of the various types of entries in the Commercial Register can be also requested online (via the Internet) – through the Request an Electronic Service page. If you want to find out more about the available option for online registration of changes or circumstances regarding your company, please visit the page of the Commercial Register electronic service.
Details will be discussed in the process of requesting the service; you will also need to provide identification documents for the respective persons (scanned copies of such documents are to be provided in the case of remote requests).
The service covers full assistance with the process of registration of changes or circumstances in the file of your company in the Commercial Register with the Bulgarian Registry Agency – more particularly:
drafting the necessary documentation (also in a bilingual Bulgarian-English form where foreign participation is involved);
accompanying the client to a bank, notary public or other depending on the particular situation;
providing full instructions for signing and preparation of the documentation (in the case of remote services);
filing the documents with the Commercial Register.
Documents are usually drafted by the end of the day (business) following the day of receiving the necessary information and the advance payment (when applicable). The signed documents are submitted by the end of the day (business) of their receipt – via electronic way by using an electronic signature (original paper documents are returned to the client or stay with the latter in the case of remote services). Registration of changes or additional circumstances usually takes around 4 business days from filing the respective application.
When necessary and if the client is readily available, the entire procedure from requesting the service to entering the respective changes or circumstances into the Commercial Register can be completed within 6-7 business days.
My fee for assistance in procedures for entering changes or circumstances into the Commercial Register is in most cases at the minimum amounts as per Ordinance No. 1 of 09.07.2004 on the minimum amounts of attorney fees; in cases where a contract for subscribed complex legal services for companies has been concluded, no extra fee will be charged for assistance before the Commercial Register in procedures described herein.
My fee for entering changes into the Commercial Register is in most cases in the amount of 100 levs, but in certain cases could be higher (for example, for increase or decrease of the registered capital – 200 levs, respectively 300 levs) or lower (for example, for publication of annual financial statements – 50 levs). In certain cases the fee needs to be pre-paid in part or in full; on page Fees you can find more particular information on the fees for the various types of services.
If you want to request the above presented service or have any questions, please don’t hesitate to contact me via any of the ways listed on the website, including via Viber or Skype (see below or visit the Contact page).