The long wait for the compulsory company liquidation of un-reregistered companies is now over. It has been one year and four months and the Registry Agency is finally ready with the paperwork and the procedures for liquidation of un-reregistered companies. The Company Register Act has been amended accordingly end of 2012, so technically the liquidation could have been started. The problem with un-reregistered companies is that the Brits who have bought properties before 2012, bought it though a limited company and because they failed to re-register the limited company, it is now subject to compulsory liquidation.
Many Brits who buy property in Bulgaria don’t bother instructing a Bulgarian property solicitor. This is either due to the belief that the estate agents in Bulgaria are regulated as in UK (which is not true) or simply because they don’t believe that something wrong could happen. Real estate agents want just to sell Real estate agents in Bulgaria are not regulated, so their only goal is to sell you ***anything.
Holiday apartment owners find themselves in the gray area of Condominium regulation. Most of the holiday apartments are located in the so called closed complexes (also called gated apartment complexes or aparthotels), but the Condominium Ownership Management Act (COMA) dedicates only one article to those kind of buildings. This is quite insufficient, having in mind the big amount of such buildings across Bulgaria - mostly located in Black Sea resorts and the ski resorts.
Starting an airline business is not so difficult as it seems. There are few things to consider when you decide to get an airline licence and the first one is obtaining an Air Operator Certificate. There are some prerequisites before you apply for AOC. The first one is registration of a air carrier company. You can either register a Bulgarian company or apply though an already registered company, based in another EU member state.
Probably you are wondering how you can trade with Bulgarian antiques? The answer is in the [BG] Cultural Heritage Act and it’s latest changes. The Act imposes special regime for treasure-hunting, trading, exporting (both sale and exhibitions) of Bulgarian cultural heritage artifacts. Treasure-hunting for Bulgarian antiques Treasure-hunting in Bulgaria is banned but you can see many people scavenging the areas round historic places. they carry metal detectors and other equipment and can be seen normally at dusk.
The new regulations in to the Commercial Register Act restrict free anonymous access to the company files, located in the online database of the Registry Agency. Together with the long anticipated mandatory liquidation amendments, the new articles impose requirements for authentication in the register. No anonymous access to company files any more No matter what are the reasons behind this new regulation, it surely casts some shadow over the free access to information.
The long anticipated changes to the Commercial Register Act are finally here. The changes concerning company liquidation of non-re-registered companies in Bulgaria are in force as from its promulgation in Stage Gazette, issue 99,2012. What was the liquidation situation by now Before the amendments there was no clear idea how the liquidation process for non-re-registered companies can start. I want to note that I’m talking about the liquidation process only for companies, which failed to register under the new Commercial Register.
Yesterday the Registry Agency announced their official property information webstie. We know very well that foreigners have concerns trusting information over the Internet, as there are many contradictory sources. People often ask in forums and receive ‘advice’ from other fellow forumers. This is neither professional advice nor a trusted source information. The goal of the official information property website As the press release announcement stated, the goal of this property information source is:
Rural houses in Bulgaria are tempting both for investment purchase and for retirement life. People consider them so cheap that its not worth the hassle to instruct a solicitor to check whether the property documents are in order or not. Ignorance, however, often can cause troubles when you least expect. We had few cases where retirement couples have bought such rural village properties and have renovated them. They’ve spent few years enjoying relaxing life at the country side.