On 29th April new changes to the Commercial register proceedings were introduced. Most of them are good and fix some of the misunderstandings in the law. The most major amendments include:

Reducing the state fees by 50% if the applications are submitted online

The previous text of the law required 75% of the state fee if documents are submitted online. The new amendment is reducing the fee even more. This will encourage the people and lawyers to submit application online and will reduce the queues in the offices of the Registry Agency. At last some 21st-century-strategy by the Ministry of Justice.

Obligations for removing personal data from the documents that should be published

There has been numerous complaints of personal data disclosure in the Commercial Register. Organizations have been protesting against visible personal details in the companies files. This  apparently had the sufficient public effect and the personal data nondisclosure article of the law is a fact. Stopping the government supported ripoff

The previous text of the law allowed the employees of the Commercial Register to reject applications and keep the paid state fee for the government. This was considered by the Supreme Bar Council and many courts in the country as ripping off performed by the government. The state fee couldn’t be used  if corrected application was re-submitted. Now the amendment is solving this problem, by obliging the employees of the Registry Agency to give the applicant/lawyer 14 days deadline to correct the defaults of their applications.

Unfortunately the changes will be effective as from 1st January 2012. Apparently the government still want to fill in the state budget by one final ripoff.

– Best regards,

Milen Hristov-lawyer

MHLegal law office phone: 00359 52 605 997 email: [email protected] web: http://mhlegal.eu

Bulgaria, Varna 9000 78 Piskyuliev Str, floor 2 office 6