Is there a need to re-register your Bulgarian company?

While you won't have to re-register your company periodically, there is, since January 1, 2008,
a requirement to re-register it once. This is a result of the
entry into force of the Bulgarian Commercial Registry Act on January
1, 2008, imposing a requirement for registration on previously
registered legal persons with the new, computerised and more internet-accessible register. The deadline for re-
registration is at the end of 2010, so for most company owners who registered with the express purpose to acquire a property in Bulgaria still have time.

However, an obligation to re-register before the deadline is triggered by a number of events including any change in the
company's particulars - in its ownership, registered address, directorship etc.

Re-registration itself is free in terms of state fees but is, because of staffing difficulties in the Registry Agency (www.brra.bg) and unexpectedly high early demand somewhat time-consuming.

Whether a company is re-registered yet or not is liable to
file accounts annually with the National Revenue Agency (www.nap.bg),
even if it is not trading. These accounts need to be accompanied by
full financial statements.

Basic accounts of an otherwise dormant entity can be prepared by a Bulgarian accountancy for a fee in the region of €150-€200.