The new Commercial register started its work as from 1st January 2008 . Yet the registration process takes at least 15 working days. Although the maximum prescribed period is 2 days, the registration clerks can not catch up with the application submission flow.

The first Registry Agency’s strategy was to simultaneously accept and digitize (scan) the application and the enclosed documents. This strategy have raised enormous public dispute, because of the huge queue which grew in front of the Registry Agency’s office.  The second (current) strategy of the Agency is to accept the registration applications and the enclosed documents, but not to give an entry number. This have reduced the queue but not the registration process period. The application are stored in piles and later digitized (in submission date order) and later reviewed by the clerks. This, by the way, did not reduce the registration term, which remains at least 15 working days.

The Minister of Justice describes that the cause for the failure of the Commercial Register is that not all companies are being registered through the website of the Commercial register. This is not quite true, because the latter website is not working properly. Not all digital signatures are compatible with the website and if they are, the website cannot bear the connection load. If it happens that the website accepts the application, the process for reviewing the application remains at least 15 days.

Apparently a reform of the reform is needed as soon as possible.