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Estate Owner & Property Investor

 

Company Liquidation & Property Confiscation in Bulgaria 2012

ACT NOW TO SAVE YOUR HOMES IN BULGARIA


In 2007 Bulgaria joined the European Union and a law requiring every company to be re-registered was passed. The time period granted to do so was for 3 years and was extended for one more year until December 31, 2011.

The law foresees the execution of liquidation procedures for all companies that had not been re-registered in time, including companies set up by foreign investors. The government position is that the companies that failed to re-register are not operating any more and provide false information about the business environment in Bulgaria.

Those companies are being sequentially erased from the Bulgarian Company Register beginning January 3, 2012 and the official state autorities are executing the legal proceedings to terminate and confiscate all assets of those companies to cover the expenses for their liquidation.

According to the Bulgarian Company Law the legal steps for company liquidation require the Bulgarian Company Register Agency to appoint a liquidator who has to find out and sell all the assets of a company to cover for the expenses of its liquidation. As of January 3, 2012 the Law has granted the liquidator full ownership rights over your company and the right to represent it in front of the state courts and authorities in Bulgaria. The liquidator has the right to operate and manage all company's properties as found suitable.

Directly said, if you are a foreign investor who has registered a company in Bulgaria before 2007 to buy a house, appartment or land and you have not re-registered that company by 2011, by law you are not the owner of that real estate any more.

The only way not to lose ownership over your property is through court actions in the first few months of 2012 and only if your company had not already been liquidated and your real estates had not been sold by the liquidator to a third party. If that is the case you do not own properties any more in Bulgaria and nothing could be done to change this.

Contact us immediately to understand the status of your company and if it still has not been liquidated, to begin legal procedures for saving your property in Bulgaria. These court actions can only be led by an authorized and registered law firm and cannot be led by any real estate agency or developer. No real estate, maintenance, accounting or development company can do anything to save your real estates at this moment. It is also impossible to pay any late fees.

Our experienced lawyers have found a clause in the Bulgarian Company Law which cannot stop the liquidation of your company, but if well used and presented in court can return the ownership of your properties back to you at the end. The process invovles combination of complicated legal actions, negotiations with the appointed company liquidator and leading a successful court trial.

Inform All Your Friends & Relatives Who Also Own Properties

It is EXTREMELY important that we actually begin the court actions before your property has been sold by the company liquidator, because then it cannot be claimed back. Every day that you delay contacting us might make the difference between losing your real estates or getting them back to you.

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(Bulgarian: ул. "Муткурова" 28, ет.1)
city: Ruse, country: Republic of Bulgaria

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