Bulgarian property blogs

The cost of preregister and making account public is 550 Euro. This includes all governmental taxes, solicitor and accountant fees.
Yes you do need to be here to give Power of attorney. Your visit in August is enough to give us time for re registering your company. All company directors are needed to re-register the company.
Here is a translated copy of the law.

Art.6 (1) Each tradesman is obliged to ask to be entered in the Trade Register, as he states the liable for entry circumstances and submit the liable for entry declared acts.

(2) Each person, who is obliged to submit entry of the circumstances or to submit the acts in the Trade Register, must do so within a 7- day time limit from the begging of the circumstance, respectively from the acceptance of the act, if the law does not determine a different time limit.

Article 40 from the Accountancy Act stipulates:

(3) (Modified – State journal, issue 105 from 2006) the acts pursuant Art. 40, al. 1-3 from the Accountancy Act are submitted and presented for submission in the Trade Register according to the order and the time limits, stipulated in the Accountancy Act.

Art. 40( modified – State Journal, issue 96 from 2004, issue 105 from 2006) (1)  the companies publish their Annual Tax Return and the consolidated Financial report for their activity, approved by the partners’/ shareholders’ assembly and the relevant authority

(2) Pursuant Al.1 the companies according to Art.38 publish:

1. Their financial reports – in the form, in which they have been certified by a registered auditor;
2. Their annual reports for their activity- in the form, in which the registered auditor has based his audit opinion;
3. The audit report relevant to the reports pursuant sections 1 and 2;

(3) Pursuant Al.1 together with the Annual financial report the join-stock companies, the limited join-stock companies and the limited liability companies publish as well information about the offer to the management authority for profit distribution or losses’ cover for the previous year and decision of the Common Assembly of the shareholders/ partners for the way of profit distribution or the cover of the losses for the previous year.

(4) The Annual Financial Report of a company which draws up consolidated accounts is being published together with the consolidated account of the group, together with the reports of their activity.

The second step is to prepare the special form and Record of Proceeding from the co-partners or the single owner of the capital regarding the company’s profit- to be given or not. These documents together with the parts of the documents from the annual financial report have to be entered in the Trade Register till the end of June of the current year. Not complying with the above law will receive governmental fines.

Best regards,

Pejman Varghai

Bulgaria
8000 Bourgas
59 Bogoridi Str.
http://www.officialbulgarianproperties.com

Hi,

Thanks for completing the 2008 accounts for ——-Developments.

You said in your email below that we need to re-register the company and take the account public by March 2010. Is there a cost involved and how much?

Do we need to be there to sign the power of attorney? I will be in Sunny Beach in the first week in August for 1 week holiday. Will that be ok? Do both me and ****** need to be there for this? What exactly does ”re-register” mean?

Please explain and copy Sotiri.

Thank you

Alex