Financial status of a Bulgarian company

Recently I've been asked  about how can one obtain details on the financial status of a Bulgarian company. This is not an easy task to do because of the following:

  • Companies don't give away details on their financial status willingly
  • Banks don't reveal details neither if certain company possesses bank accounts, nor the status of these bank accounts. Bank secret can be revealed only by court order
  • Police will present information on whether there are any vehicles registered to a company only upon presenting a court order for that
  • Due to decentralization of the Land Registry in Bulgaria, if you want to check whether a company owns properties, you have to check in each local Land Registry office (more than 40 offices)
Of course you can check the annual financial statement of the company in the Commercial Register, but usually you will not find any details there, just numbers. Moreover, if the company has good accountant the annual financial report will be useless for you.

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