Invest in Bulgaria - The Preferred Partner of Investors Seeking Opportunities in Bulgaria
Follow:
GUGUSHEV & PARTNERS is among the leaders on the Bulgarian legal market Comprehensive Organization of MBA and EMBA Study Trips in Bulgaria
NEWS BY TOPIC
FDI in Bulgaria (13)
Health (4)
Macroeconomic Data (49)
Business (361)
Investments (155)
Infrastructure (97)
Financial (126)
Economy (350)
Construction (14)
Politics (62)
Real Estate (27)
Interesting Facts (24)
Sports (10)
NEWS BY SECTOR
Software and Information Technology (28)
Real Estate (56)
Tourism (112)
Waste Management (9)
Automotive (23)
Electronics (3)
General (81)
Renewable Energy (66)
Agriculture (22)
Construction (90)
Food and Beverage (20)
Textile (2)

Bulgaria Extends Deadline as Closure Looms for 1 Million Firms
BULGARIA EXTENDS DEADLINE AS CLOSURE LOOMS FOR 1 MILLION FIRMS
Date: 14/10/2010
Source: novinite.com
Bulgaria Extends Deadline as Closure Looms for 1 Million Firms

The Bulgarian Cabinet has approved draft amendments to extend by 6 months the legal deadline for the campaign to register anew all firms in the country.

Under the Commercial Register Act changes adopted in 2008, all active legal companies in Bulgaria are required to make new registration with the Registry Agency so that inactive and "ghost" firms can be eliminated from the entries.

Less than three months before the deadline about 285 000 firms renewed their registration, in addition to 129 000 others created after the changes were adopted in 2008.

A total of about 900 000 firms, however, have failed to do so. Thus, during its meeting on Wednesday, the Bulgarian Cabinet agreed upon new draft amendments to the Commercial Register Act extending the deadline for re-registration by June 30, 2011.

The issue came in as an emergency submitted by Justice Minister Margarita Popova, and was not originally included in the government's agenda. It is still unclear what mechanism exactly the Bulgarian authorities will employ in order to shut down the hundreds of thousands of inactive firms without jamming the court system.

The registration trends so far have largely confirmed forecasts by experts that only about one-fourth of the firms in Bulgaria are active.


Topic: Business



Featured District
PLEVEN DISTRICT AND CITY INFORMATIONPleven
Invest Bulgaria Charts
FDI to Current Account Deficit of Bulgaria
FDI to Current Account Deficit of Bulgaria

Foreign Liabilities of Bulgaria
Foreign Liabilities of Bulgaria

See all charts
Did You Know?
Bulgarian Yogurt
Bulgarian Yogurt
The Bulgarian yogurt is extremely popular in Japan ... More

Sozopol is one of the oldest towns on the Bulgarian Black Sea coast. The oldest artifacts found in Sozopol, date from IV-III millenium B.C.

Intelligence Pathways - Outsource your Business, Competitive Intelligence or Back Office to Bulgaria

Bulgaria Translation - Full service Bulgarian Translation company

© Copyright 2004-2021 Invest Bulgaria Group Ltd, Sofia, Bulgaria. All rights reserved.

 
Please read Conditions of Use, Copyright Statement and Privacy Policy for this web page and web site.


SEO оптимизация Bulgaria Translation Bulgarian Agriculture Bulgarian Textile BestFlowers.bg Sofia Web Works Bulgarian Coins Intelligence Pathways Bulgarian Outsourcing

Crafted by Sofia Web Works. Maintained by Website Maintenance, the kings of Website Migration.


Our Featured Members