Re-registering your company - important!

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leedarkwood
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Re-registering your company - important!

Postby leedarkwood » Sat Dec 29, 2007 7:54 am

There is a thread on this somewhere but I can't find it Mod :oops:

Finally news on something that has been talked about for ages, putting all the companies on one electronic database, and what we have to do about this.

http://www.standartnews.com/en/article. ... icle=11082

"Some 300,000 Firms to Change Their Names
From January on, the Internet registration will take six minutes only

About 300,000 firms, i.e about one third of the companies in Bulgaria, should change their names next year. Their re-registration will start on January 2, 2008, in order that they are included in the Electronic Commercial Register. The firms with one and the same name will have to be renamed. They will differ in the name of the town or village in which they are registered.
For example, if there are three companies named Svetlina, the name of the town or village will be added to it. When the settlement is one and the same, too, the companies' name will be added a reference number, as well.
Filling-up the re-registration document on the Internet will take between 6 and 10 minutes. A sole proprietorship will pay a fee of 35 levs while the cost for a limited company will be 160 levs. There are about 1.4 million firms in Bulgaria. It is expected that some 400 of them will drop out of the list in the process of re-registration."

We are seeing our solicitor in the next week, so on behalf of all of us I will ask her about this. So I am starting a list of questions to ask here, please add to it if you can think of any good ones.

1. Does this mean every company has to do something about this?
If the answer to 1. is yes then...

2. If so what?
3. By what time does it have to be done?
4. What happens to property if you need to do something and it isn't done?
5. Can it be done from the UK?
6. Can it be done without a power of attorney?
7. Does it have to be done within the region that it was originally set up?
8. What documents do you need to do it on the internet?
9. Who can do this?
10. Do you need a password? If so, how do you get it?
11. How secure is this?

If she doesn't know I will ask her to find out and get back to us. It can take time to get information here.

Lee

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Postby ChrisF » Sat Dec 29, 2007 8:09 am

Presumably if it can be done on the net it can be done from the UK, but another question:
If done on the net how do we pay - mastercard, visa....?
Thanks.
Chris

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re-reg of companies

Postby Neilythere » Sat Dec 29, 2007 8:15 am

just a point ..........Why should we have to pay at all after the money we have spent

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Re: re-reg of companies

Postby kiboko » Sat Dec 29, 2007 11:15 am

Neilythere wrote:just a point ..........Why should we have to pay at all after the money we have spent


One hardly supposes that Bulgaria welcomes foreign incomers for their varied & various attributes of beauty, charm, debonaire lifestyle & intellectual gigantism.

Rather more likely are the usual old reasons - skills and (much better still) money, the more the better.

Just like any form of liveststock the incomer must be economically worthwhile to the host community. Hens lay eggs, goats & cows give milk. The otherwise useless humans pay money.

Same Same. World over.

Money spent is spent & of no further interest save to the accounting of the spender. Everybody else wants more nice fresh green leaves.

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Postby PaulM » Sat Dec 29, 2007 11:21 am

My understanding was that Re-registration is actually going to be free of charge and I have heard nothing to the contrary yet.

I have also been told by my lawyer that, although all the forms for use by the new agency have been prepared, they have not yet been approved by the Ministry of Justice.

That was around 2 to 3 weeks ago so the position may have changed.

Re-registration was supposed to have started with the new agency ages ago but, come the day set for implementation, the new agency did not have any staff or offices from which to operate!

Just another BG administrative foul-up!

One thing is for sure and that is everything will have to be in Bulgarian Cyrillic so doing it on the Internet (if that is possible) will, for most UK owners, have to be done by a Bulgarian lawyer, friend or agent.

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Postby ChrisF » Sat Dec 29, 2007 11:24 am

FROM TODAY'S SOFIA ECHO:

BULGARIA'S NEW REGISTRY AGENCY TO START ON JANUARY 2
16:38 Fri 28 Dec 2007 - Rene Beekman

On January 2 2008, Bulgaria's new unified Registry Agency (RA) would start its work, deputy director of the RA Daniela Miteva said.

After two delays, the RA in Bulgaria should work successfully this time, Miteva said. The STR would have offices in 27 building in the country. Addresses of the offices could be found on the website of the agency http://www.registryagency.bg

Managing director of the RA, Emil Stankov, said the new agency had several advantages. Applications for registrations would be processed faster and more efficiently and so-called ghost-registrations would become impossible.

Project leader at the RA, Ivailo Filipov, said that electronic registration of a company in the trade register would take 6 to 7 minutes and could be done online at http://www.brra.bg

At the website, detailed information was available about the process of registration, initial registration, making changes in the registration of a company or re-registration. Each application would be assigned a unique number, consisting of year, month, date, hour, minutes and seconds at which the registration was handed in. Only a single application could be handed in every second, so as to avoid registrations with the same number.

Applications filed would be lined up a in queue, waiting to be processed by the STR.

In a pilot project for the single registration system in seven cities, 7000 applications had been processed in three months, Miteva said.

On the site of the RA, a list of registered companies was available, where the availability of a certain name could be checked. The list was made based on data from the Supreme Judicial Council (SJC) and up to date until December 14 2007.

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Postby PaulM » Sat Dec 29, 2007 11:28 am

Hi Chris F,

Just clicked on the link to the agency's page in your post and got this:

"Bad Request (Invalid Hostname)"

PaulM


Links fixed - just needed the dots taking off the ends! :wink: Mod 8)

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Postby Sapper » Sat Dec 29, 2007 12:06 pm

The way I look at it, we had pay to form an unwanted company in order to own our property, on top of that all the rigmarole of annual nil returns plus costs. Now we have to pay to re register it? What happens in the future when it is no longer necessary to have a company to own land ? How much will it cost to dissolve the same and put the property into private ownership? I could understand it if these were trading companys but the majority of them must have been set up for the sole purpose of owning a single property. Jack

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re-registering your company-important

Postby RICO » Sat Dec 29, 2007 1:26 pm

I went on the agency website given in chrisf post and it is in Bulgarian and English. So does this mean ,we will not need some wizzkid to fill it in?
Any academic/business people got advice to offer?
Pleeeeze tell me you have.

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Postby ChrisF » Sat Dec 29, 2007 2:27 pm

OK I've had a go -the first website given is in English as well as Cyrillic, but hasn't been updated since 2006.
The second website is in English on the first page only, I can't get the translation button to work after that.
!!!!!!!!!
Chris


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