Yesterday, the Bulgarian Parliament adopted the Anti-Money
Laundering Act (in Bulgarian: Закон
за мерките
срещу
изпирането
на пари). The Act transposes
Directive (EU) 2015/848 on the prevention of the use of the
financial system for the purposes of money laundering and terrorist
financings (AMLD IV). The final text of the law is expected to be
released next week. Currently only the Bill that was submitted for
the second reading by Parliament on 7 March is publicly
available.
UBO REGISTER
The provisions of Articles 30 and 31 of AMLD 4 have been
incorporated into the Bill, however they do not provide for a
separate central UBO register. The Bill prescribes the use of the
current Commercial and Bulstat Registers with the Registry Agency
which at present provide information on the type of entity, its
seat and management address, registered owners / managers as well
as their incorporation and other company documents.
