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March 2008, 14/03/2008

Dear Valued Stara Planina Properties Client,

We would like to bring to your attention information about obligatory re-registration of all Bulgarian companies as well as some news about invaluable contribution from our clients to the ARK's Small Group Homes Project.

 

Obligatory Re-registration of Companies in Bulgaria

Since 1st January 2008 a new Law for the Commercial Registry have come into force in Bulgaria. In accordance with this law all existing Bulgarian companies must be registered in the new Commercial Registry by submitting a state-approved form and some other documents depending on the type of the particular company.

There is a 3-year term for all existing companies to be re-registered in the new Registry. The applications for the re- registration of the companies must be signed personally by at least one manager of the company. The signature must be certified by a notary public in Bulgaria. Alternatively the documents can be signed abroad in the consular services of the Bulgarian embassies or in front of a local solicitor. In the later case the documents must be stamped with Apostille stamp in accordance with the Hague Convention of 1961. The companies which are not re-registered by 31st December 2010 will be liquidated.

At the beginning of the year the process started with a number of administrative obstacles but now most of the procedures are clear. Thus we at Stara Planina Properties are ready and able to arrange for the re- registration of the companies of our clients. Please feel free to contact us with any queries you might have about the process. We will also contact all our customers shortly in regard to their companies.

 

Contribution to ARK Bulgaria SGH Project

In our December 2007 newsletter we informed you about ARK's Small Group Homes project aiming at creating homes for kinds from an institution in the Bulgarian city of Stara Zagora. Following the receipt of the newsletter several of our readers have immediately contacted ARK Bulgaria to offer their help.

Our clients Steve & Tina Barrett have contributed a lot to the cause by purchasing toys worth over 2,000 pounds and driving from the UK to Bulgaria to bring them to the kids in Stara Zagora. Steve & Tina visited one of the homes in February and below are their impressions.

"When we saw the kids we were amazed at how relaxed they were, how friendly and well behaved they were too. Despite the obvious language barrier, they managed to communicate with us and they were so polite. Obviously, we have only a perception of what they have been through in their short lives so far, but the benefits of the comfortable, safe and pleasant environment have clearly made their mark and the work that ARK is doing is incredible. Add to that the life education and guidance that is clearly working so well and it all looks like a great set up.

What was really encouraging was to hear that the issues are being tackled at government level and that once the local support network has been "trained" by example, ARK will be able to hand control back to the locals with such an excellent model to follow."

Both ARK Bulgaria and Stara Planina Properties are grateful to Mr & Mrs Barrett and all other people who showed interest and helped within their means.

 

Martenitsa

In Bulgaria March is associated with the coming of the spring. It is considered the first spring month and starts with an unique and beautiful ancient tradition - wearing of martenitsas.

"Martenitsa" is a red and white woven threads and tassels symbol of the wish for good health and prosperity. They are the heralds of the spring and while white as a color symbolizes purity and soul, red is a symbol of life and passion. It is given as an amulet in the period of spring, when nature gets "reborn" and starts blossoming.

The tradition requires that on the first day of March and few days afterwards, Bulgarians exchange and wear white and red tassels or small thread dolls called Pizho and Penda. The tradition calls for wearing the martenitsa until the person sees a stork or a blooming tree. The ritual of finally taking off the martenitsa may be different in the different parts of Bulgaria. In most cases people would tie their martenitsa on a branch of a fruit tree, thus giving the tree health and luck.

According to the legends the tradition to wear martenitsas started in 7th century. Despite its ancient roots it is very strong today and you would definitely be given a martenitsa or two if you are in Bulgaria during first days of March.

 

International Retailers Expand their Business to Bulgaria

Greek group Fourlis which holds the rights to develop the Swedish furniture chain Ikea in Greece also plans to expand its business and open the first Ikea hypermarket in Bulgaria. The company will start construction of the hypermarket in Sofia later this year with completion scheduled for 2009. Two more hypermarkets are planned to be constructed by 2011. Prices in the Bulgarian outlet are expected to be lower than those of its Greek counterpart.

At the same time the largest British clothing retailer Marks&Spencer Group announced that it had set up a joint venture with the Greek Marinopoulos Group to expand its business in Eastern Europe.

 

Monthly Travel Guide

Below is a link to the Jamadvice HRG Bulgaria Monthly Travel Guide. It provides useful information as well as some interesting facts from the travel industry.

Monthly travel guide..

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