Re-registration companies in Bulgaria part II

The deadline for re-registration of companies in Bulgaria has passed. (December 31, 2011)

The situation at the moment is that all companies registered in Bulgaria before January 1st 2008 which are not re-registered are being liquidated. Bank accounts are blocked, assets are frozen, and you cannot do any transactions with the company. Only payments to the National Revenue Agency and salary payments are being authorized.

It is not yet clear how this will develop exactly. But technically, the company ceases to exist and assets will be sold or auctioned. And the owner(s) will have to pay the costs of liquidation, estimated between 500 – 2000 BGN. The procedure for liquidation will take about 6 – 12 months.

When you are not sure if your company is re-registered you can check it in the Bulgarian trade register

Please keep in mind that when you have re-registered your company recently that you have to publish the financial statements from 2008 – 2011 within three months after the re-registration date.

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