From January 1st 2008 a new law of the Trade Register Act became valid which imposes re-registration of all companies in the country. The new Trade Register will include all the companies registered up to this moment in the 28 existing regional registers of all municipality courts. The law sets a tree-year period for re-registration and after this period expires all the companies which haven’t been registered in the new register are to be referred as to invalid or „phantom”companies. Apart from all this the new law states that the names of all companies are to be unique within the context of the whole country. In case the names of two or more companies coincide, which is not unusual, the name of the one that has been registered later is to be changed since the name has already been reserved for the company registered earlier. This invokes rapid reaction in order to keep the name of the particular company.

Our ASSOCIATION OF INDEPENDENT LAWYERS is able to help you for the re-registration of your company in compliance with Bulgarian legislation which will guarantee the preservation of your company name as well as the existence of your company. Our lawyer’s proficiency and experience will secure your property, the compliance with Bulgarian legislation and the realization of your personal and business interests.

NEW TENDENCIES IN BULGARIA'S RETAIL PROPERTY MARKET EXPECTED

The Bulgarian retail property market expected various developments in 2006 and the beginning of 2007. A new tendency will be observable soon, the construction of large retail areas in the suburbs of major cities.

The new wave of retail property projects to enter the Bulgarian market will focus the retail parks. These are areas featuring various shops that target  middle-class consumers.

Retail perks are usually located in the outskirts of major cities. Such trade areas have a major road located nearby.

Malls usually offer luxurious and expensive products. Retail parks offer  reasonable prices and most cases lack additional facilities like restaurants and cafes.

An entire retail parks has not been set up in Bulgaria yet. Companies, however, started exploring the benefits of working together and grouping. Since such project is still missing in Bulgaria, it is hard to predict what the retail prices will be, Capital reported.   

UK PROPERTY BUYERS AS INTERESTED IN BULGARIA AS IN FRANCE

   The interes of British prperty seekers in Bulgarian Property abroad steadily increased over the past three months. In some regions of Britain, property buyers were even more interested in Bulgaria than in France. Bulgaria attracts investors because of purchase opportunities in Black See resorts and ski apartments in the resorts of Bansko and Pamporovo.

   The construction boom in the most popular resorts  in Bulgaria brought up questions concerning the prices  of  property  which  allegedly will decrease due  to over-supply.

The Bulgarian Parliament for the straight third way again postpones the date for re-registration of the traders (Bulgarian and foreigner) and branches of the foreigner traders.

On 30.06.2007 the Parliament voted that the re-registration will start from 01.01.2008, no from the date 01.07.2007, announced earlier.

For the moment all registrations will continue is done in the established ordering.

With coming into force of the new law on trade register (couple-sconce-34/06 years) the essential re-registration of the all traders (Bulgarian and foreigner) and branches of the foreigner traders and their entry of the new trade register is envisioned.

From 01.07.2007 the newly created Agency of the entries consumes registering companies that so far got up in the law court to the justice minister. The thing is producing at a time one and entire record of all companies its unique appellation and excepting each opportunity for deception and malversations.

From this date the all existing companies will have a triennial deadline of re-registration, as circumstance on prolongation of their activity. They will receive instead of late one identification code that will be alone for each separate company. That will lead crucial elimination not only of the procedures on a registration of a company, but to major facilitation of close all aspects of its more activity as well.

It is desirable for you to take re-registration quickly from coming into force of the law for you to save your appellation. First who had nosed former only the profession will be able to keep it. The remainders will be necessary that they choose another name. In case showing a new name at the issued semimonthly deadline from the Agency, they will receive such. Case: if in the town of Veliko Tarnovo there are seven Ltd. with the appellation –“Mountain properties” that had nosed first, the profession will “Mountain properties” Ltd., second will take the name “Mountain properties-Veliko Tarnovo” Ltd., next “Mountain properties-Veliko Tarnovo-1” Ltd and so forth.

The re-registration will happen to several phases, as our ASSOCIATION OF INDEPENDENT LAWYERS is ready to give entire helping and help you for providing the needed documents, their refilling and applying in competent Agency office for you.

It is important for you to know that with the termination of the triennial term, the Agency will delete officially non re-registered companies like companies - phantoms. The costs of officially deleting will be for company.