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Re-registering a Bulgarian company
If you own property or land in Bulgaria through a Bulgarian registered company the Government of Bulgaria required that you re-register your Bulgarian Company onto the new companies register by the end of 2011. If you failed to re-register you now stand to lose the company and its assets (property, land etc.) and you will also incur a fine and will have to pay for the liquidation procedure to close the company.
IMPORTANT NOTICE
From the 1st January 2012 the government of Bulgaria has frozen all assets of Bulgarian companies that have not been re-registered.
This means that you will be not be able to sell the property or company assets or conduct any transactions through the company’s bank account.
You will lose your property and the assets of your Bulgarian company and you also face the prospect of a large bill. The company assets will be sold to pay the costs. You will also be charged for the process. We understand that the Bulgarian government intend to use UK debt recovery companies to recover the full amount.
We are waiting for the government to give full details about the process of liquidation, and if there is a procedure for re-registering a Bulgarian company now the deadline has passed.
If you are concerned about the position of your Bulgarian company, please complete the form below and we will contact you about the liquidation process and how it will affect your company in Bulgaria. You can also call our UK office on 01202 201300.
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