Companies now have until 31 December 2011 to re-register with the new Bulgarian Commercial Registry.

In addition, company share registers must now contain certain identifying information about shareholders, including those holding interim share certificates.

The register must also be updated to reflect new entries and changes within 7 days of receipt of the relevant documents. Non-compliance can result in a penalty of up to L500 (c. €250).

There is also a new requirement to notify the company and to apply for registration within 7 days of acquiring any shares or pledge of shares.

All unregistered holders of registered shares or pledges over registered shares must apply to be registered in the company’s share register by 31 March 2011.

Law: amendment of Commerce Act