Set Up and Powers
The Registry Agency was set up on 31 July 2004 pursuant to §27 of the Law amending and supplementing the Cadastre and Property Register Act (promulgated, SG, 36/30 April 2004) and the Agency’s Rules of Procedure (SG, No. 63 / 20 July 2004, in effect from 31 July 2004). When the new institution was set up, all of the 112 Registry Offices at the Regional Courts were transferred to it. They are currently 113. Their staff process all registrable acts which provide the basis for issuing certificates and making transcripts. Thus the entries are made public and this brings security in the transactions in real property.
At its establishment the Agency was delegated the powers to keep the property register. The foundations for thorough reform of the register were laid down in 2006. Two years later the integrated centralised electronic system was implemented under the Cadastre and Property Register Project. Thus the time needed to register and issue documents was cut down. An advantage of the system is that it enables overall internal and external monitoring of the transactions made across the country.
Since 11 August 2005, the Registry Agency administers one more register – BULSTAT. All legal persons and the branches of foreign persons who are not traders are registered therein. Registrable are also persons with liberal professions as well as craftsmen. Untill 1 January 2008 traders were obliged to register in BULSTAT within 7 days. After that date this operation was taken up by the Commercial Register.
After the reform of the existing business registration, the Commercial Register was taken out of the company departments of the district courts and transferred to the Registry Agency. The information system of the Commercial Register is an integrated, centralised database. The purpose is to facilitate the start up of business in Bulgaria and to curb corruption practices. Everyone has free access to the electronic images of all documents.
The new Family Code took effect on 1 October 2009. The marriage contracts and the property relationships treatment chosen by the spouses are entered in the Register of Property Relationships of Spouses. This is the fourth national electronic register administered by the Registry Agency. It is public, permitting inquiries and issuing of certificates about the chosen property relationships treatment.