Because of the speculations, I decided to write this small post. I will try to clear out whether an EU citizen can buy regulated land directly in Bulgaria as from January 2012. A common misunderstanding is that foreigners cannot buy regulated land directly if they own primary home in their native country. This was valid until 2012, but not any more. The legal grounds are Art. 29a of the Ownership Act:
Many people wanted to see the full text of the Condominium Management Act 2011 in English. This is particularly useful for all foreigners who have bought holiday apartments in Bansko, Pamporovo, Borovetz and the Black Sea resorts. The Act can be downloaded from here [PDF 178kb].
Transportation of passengers and goods by water is regulated by Order No. 82 of 15 July 2002, Ordinance No. 4 of 9 January 2004 on Recognition of Organizations for Surveys of Ships and Ship Owners, Order No. 87 in accordance with article 362, paragraph 1, section 3 from the Merchant Sea Shipping Code. The domestic regulation of transportation services can be found in Merchant Sea Shipping Code and Maritime Spaces and Inland Waterways and Ports Act of the Republic of Bulgaria.
The transportation of passengers and goods by railway is regulated by the Convention concerning International Carriage by Rail(COTIF) from 9 May 1980, Regulation (ЕО) № 1371/2Transportation of passengers and goods by railway007 REGULATION no. 41 of 27 JUNE 2001 and REGULATION № 54 from 2 June 2003 accordingly. The domestic regulation of transportation services can be found in the Railway Transport Act. In Bulgaria Railway transport activities are coordinated and controlled by Executive Agency Railway Administration (EARA).
Air transportation in Bulgaria is governed simultaneously by EU legislation e.g. Regulation (EC) No 1008/2008 [PDF 113Kb], international aviation law and the domestic legislation, such as the Civil Aviation Act and secondary legislation ordinances. The authority which supervises civil air transport is Directorate General “Civil Aviation Administration”. How to establish an air carrier in Bulgaria Air carriage is subject to licensing by the Directorate General “Civil Aviation Administration”. Each company applicant needs to match certain requirement before the license is granted:
The Commercial Register Act was clear enough “all companies which don’t re-register by 01.01.2012 are subject to compulsory liquidation by the state”. 1st Jan has passed and there’s no sign of the Registry Agency to have initiated any liquidation. There is even no official statement, neither to the public, nor to all the liquidators who are listed with the Agency. Naturally the Agency don’t respond their officially announced phone numbers (more than 10!
The biggest issue with the compulsory liquidation of the Bulgarian limited companies is the communication with the state appointed liquidator. Since the Registry Agency appoints liquidators from their liquidators lists, no one considers whether the company owner is foreigner or does he speaks Bulgarian. Some liquidators are not diligent enough when they see that the company owner is not Bulgarian. Sometimes they will not make efforts to contact the latter. One a separate note, this is difficult because the company owner address is spelled in Cyrillic letters and it is very difficult to restore the right English spelling.
This week we have achieved a small victory. We are representatives of a client on a case, heard in Stara Zagora District Court. We have asked the judge to send by email copies of the latest hearing minutes. The judge refused, grounding her decision with “the court doesn’t have that practice”. We’ll that was not quite true. Art. 42 para 4 of the Civil Proceedings Code allows the court to send notices and subpoenas by email.
The deadline for re-registration has passed. Now all companies that have failed to meet the deadline will be liquidated. Most Britons have registered companies as holdings of their property in Bulgaria. the compulsory liquidation will put their properties on tender and will sell them before the company is closed. So what they can do? Make sure you have someone to check your company file on a regular basis. This way you can find who is appointed by the Commercial register as a company liquidator.
Smartpartners-BG Ltd. - the developer of The Orchard, Bansko- have been declared bankrupt by Sofia City Court on 18.01.2012. The court resolution is sent by the court to the Commercial Register for announcing. It will be officially announced probably next week. You can download the court decision in Bulgarian language from this link [PDF -1.1 MB]. As from the moment of announcing the court resolution, all creditors will have 1 month to present their claims to the administrator (through court).