Bulgaria Faces 800,000 Euro Fine over Delayed Upgrade of Trade Registry

Bulgaria Faces 800,000 Euro Fine over Delayed Upgrade of Trade Registry

Bulgaria may have to pay a fine of some 800,000 euro for a delay in the upgrade of its Trade Registry that would allow the electronic registration of European companies by the local Registry Agency, deputy justice minister Denitsa Valkova said.

The Registry Agency had to implement three years ago the project which would have made possible the registration of European companies without their representatives having to be physically present in Sofia, Valkova told the Bulgarian National Radio (BNR) on Sunday.

Earlier this month the agency's head, Violeta Nikolova, was dismissed after it emerged she had received last year an extra 72,000 levs, apart from her regular salary, despite the agency's poor performance.

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