An Act to Amend the Non-profit Legal Entities Act (the “Act”) was promulgated in the State Gazette, issue No 74 of 20 September 2016, aimed at improving the transparency and accountability of non-profit organizations, as well as reducing the administrative burden.
Below you will find a brief summary of the main amendments introduced by the Act.
New register of the non-profit legal entities at the Registry Agency
The registration of non-profit legal entities and branches of foreign non-profit legal entities shall no longer be performed at the district courts, but shall be transferred to a unified centralized electronic register kept by the Bulgarian Registry Agency (the “Register”). This Register shall be public and the access to the database contained in it shall be free.
Upon its registration in the Register, each non-profit legal entity or a branch of a foreign non-profit legal entity shall be assigned a Unified Identification Code.
No other mandatory registrations for non-profit legal entities
Non-profit legal entities as well as branches of foreign non-profit legal entities shall no longer be registered in the BULSTAT Register or at the designated register for non-profit legal entities performing activity in public interest at the Ministry of Justice. The latter fact shall only be announced under the batch of the respective entity at the Register.
Entry into force
Due to the need to ensure technical conditions for the functioning of the Register, the Act shall enter into force as from 1 January 2018.
All existing non-profit legal entities as well as branches of foreign non-profit legal entities should submit an application for re-registration in the Register until 31 December 2020. Upon their re-registration, they shall be deleted from the BULSTAT Register and their BULSTAT code shall become their Unified Identification Code.
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