Company name change
The subject of this article is to explain the process of company name change of a Bulgarian company.
According to the Bulgarian law, evеrу соmраnу in Bulgaria nееdѕ to have official company name іn оrdеr tо bе rеgіѕtеrеd іn thе Соmmеrсіаl Rеgіѕtеr. Іt іѕ not possible tо hаvе а соmраnу wіthоut аn official company name.
The company name is the name under which the trader is recognized by all the third parties. Generally said, the trader is using the company name to carry on his business. The company name must meet the requirements listed in the Bulgarian Commercial Act, such as: including the legal form of the trader in the name and writing it in Bulgarian. The general rule regarding the company name is the principle of the uniqueness, which means that each company name shall be unique and may not be used and submitted by any another company
In case of a duplication of a company name in our trade register, the application for registration of the company or changing the company name shall be rejected. In this connection, prior to the company incorporation or changing the company name, it is possible to test and reserve the company name at the Trade register. This reservation has a validity of no more than 6 months and the name can be used only by the applicant.
The company name is the identity of the company and it is one of the most important elements of the registration. It is used on daily basis in dіffеrеnt situations like receiving the company mails, meeting clients, along with being able to prove to the tах аuthоrіtіеѕ the existence of the company.
The company name can be changed at any time during the existence of the company.
Changing the company name of a Bulgarian company is a process which shall meet several requirements. Depending of the company form the shareholder/s shall take a decision to choose another name. It is not possible to leave the company without an official name.
In order to apply in the Trade register for registering the changes of the name, the shareholders have to sign new an updated Articles of Association and the manager shall sign few declarations and a power of attorney. Of course as any change of circumstances also a state fee shall be paid.
The whole process takes around 5 (five) working days from signing the whole documentation and submitting it in the Bulgarian Trade register. In a few days after the changes in our Trade register, the changes will take effect also in the VIES system.
After changing your company name, it is also very important to inform your bank and local NRA office for this new circumstance.
Innovires law firm can fully assist you with the name change of your Bulgarian company. Our lawyers can take the representation in front of the Trade register and submit the changes.
Contact us in case you need additional information regarding the company name change of a Bulgarian company.