Since 01.01.2017 a new Ordinance came into force - Ordinance № 12 of 29.09.2016 on the Register of bank accounts and safe deposit boxes (RBASDB). It regulates the functioning, scope, procedure and deadlines for filing and obtaining information from RBASDB which is maintained by the Bulgarian National Bank (BNB). The register is an electronic information system that provides centralized information on bank account numbers, their holders and persons authorized to operate with the accounts, as well as customers of safety deposit boxes in banks and persons authorized by them. The ones who are entitled to obtain information from the “Register” are the authorities and institutions under article 56a, paragraph 3 (the judicial authorities, National Revenue Agency, State Agency “National Security”, Chief Directorate “National Police”, Chief Directorate “Combating Organized Crime”, the enforcement agents when an enforcement case is filed, banks, etc.), as well as natural persons and legal entities under article 56a paragraph 4 of the Law on Credit Institutions (LCI). Banks and branches of foreign banks operating in the country, as well as the BNB, have an obligation to submit the necessary information to the “Register”.
An opportunity is set forth for any person to obtain information, through the procedure provided in the Ordinance, concerning the data contained in the "Register" concerning him or her as a holder of a bank account, customer of a safety deposit box or an authorized person. This possibility may be realized through filing a written request to the BNB. It is important to note that this service is free for individuals and it is provided within 14 days of filing the request in the BNB, and in other cases – after paying a fee.
Detailed information on the procedure and the forms for requesting data from the "Register" by individuals / legal entities, authorities and institutions in the country is contained in Ordinance № 12 of 29.09.2016 on RBASDB, as well as on the website of the BNB.
The introduction of such a register could be considered as an effective and quick way of obtaining information by any interested person or institution. The efficiency of such a system, however, will have its impact over time, but it should definitely be considered as a positive testimonial towards the efforts to facilitate the mechanisms of interaction between different institutions, legal entities and citizens.
For more information you could send your inquiries to attorney Desislava Cvetkova - head of "Judicial debt collection and bankruptcy" Department at “Popov & Partners” law office on the following e-mail address: d.cvetkova@popov-partners.com , as well as to junior associated partner Mitko Todorov on email address: m.v.todorov@popov-partners.com .
