According to the amendments to the Company Law, which came into force on 8th June this year, business entities are now obligated to register their official e-mail addresses – says the Business Registers Agency (BRA).
Business entities will have to register an e-mail address with the BRA, the agency says. Enterprises, business entities, representative and branch offices of foreign companies that are already registered, but have not registered an e-mail address, have to register one within a year of the law’s implementation date.
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“The reason for this requirement is the beginning of electronic registration of new companies that should officially start on 1st October, 2018. As of October, the Agency will be sending an official document confirming the company registration in an electronic form that will contain the registrator’s electronic signature and a timestamp, in line with the law regulating electronic documents, to the registered e-mail address. State bodies, banks and other legal entities will be obligated to accept this type of document”, the BRA explains.
Initially, they add, not all legal forms of companies will be able to register electronically. Instead, this option will be available only to single-member limited liability companies. Once the pilot project takes hold, this kind of registration will be made available to other, more complicated legal forms, which registration requires a larger number of documents.
The amendments to the Company Law have introduced another new feature – the authorization of the signature on the founding document, providing this is a digitized document, can be replaced with an electronic signature or an electronic stamp of a person authorized for the validation of signatures, hand-written documents and transcripts, under the law regulating this field. The law further specifies that the founding document and the articles of association, in an electronic, that is, a digitized form, are registered electronically, under the Law on the Registration Procedure.
These novelties will save time for new companies, eliminate the founder’s costs of the authorization of a signature, whereas the e-registration fee will be 20% lower than registering companies by submitting paper documentation – the BRA says.
As in the e-registration of an enterprise, the electronic registration of a single-member LLC requires the applicant to meet three requirements. The filing of an e-application requires an electronic signature and a smart card reader or a USB token, whereas the applicant is required to be able to pay the fee electronically, with a Visa or a MasterCard and to register / have an open account in the centralized application system, accessed through the e-Services link on the BRA website.
The BRA started executing electronic registration of enterprises on 1st January, 2018.
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