Deadline for company re-registration might be extended

The Ministry of Justice have drafted a bill for amendment of the Commercial Register Act, proposing extension of the deadline for reregistration of the Bulgarian companies. The new proposed deadline for reregistration is 30 June 2011. Along with the deadline extension, the other major amendment is that the applicants don't lose the state fee if they have made mistakes in the application or in the enclosed documents. The current practice of the Commercial Register was to withhold the fees if the applicant has made mistakes to the documents. This was considered by the Bulgarian court as illegal and ripoff of the local business. In spite of  the court practice, the Commercial Register continued to withhold the state fees. Hopefully, the new amendments to the Commercial Register Act will make the register follow the logic, court practice and the law.

The above mentioned bill will be passed to the Parliament for approval. Only after that it will enter into force.

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