Company re-registration in Bulgaria: the deadline is near

The deadline for the process of re-registration of companies in Bulgaria is at the end of the year or 31st December 2011. In case of failure to complete that procedure, the owners of companies might lose them and also lose the properties that are bought on the name of the company that is not re-registered.

This is important information for all those investors, who have purchased properties by company registration in Bulgaria before year 2008. According to the Trade Register Law, which is applicable to the Bulgarian companies, requires that all existing companies must go through the process of registration into the new online register by the end of this year.

According to the regulations of that law, which came into force in the beginning of year 2008, the companies which are not added to the new online register shall be removed from the register of companies in the country and will lose their assets, which includes properties as well. The companies that are not re-registered shall be blocked and will not be able to perform any activities at all, including sale of their properties.