Electronic registration of companies from October 2018 – E-mail address mandatory

Business entities are obliged to register an address for the reception of electronic mail, and this obligation, along with other new features, is proscribed by the new Law on Amendments to the Company Law, which came into effect on June 8, 2018, as announced by the Business Registers Agency (BRA).

The registration of an e-mail address has been possible anyway, but now it will be mandatory under law. Business entities will have to register an e-mail address at the BRA, the agency says. Enterprises, business entities, representations and branch offices of foreign companies that are already registered, but have not registered an e-mail address, oblige to register one within a year of the law’s implementation date.

– The reason for the implementation of this obligation is the beginning of electronic registration of the founding of business entities, planned for October 1, 2018. To clarify, the Agency will be sending the decision on the registration as an electronic document, with the registrator’s electronic signature and a timestamp, under the law regulating electronic documents, to the address registered for the reception of electronic mail, and state organs, banks and other legal entities will be obliged 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 will first be enabled to founders of single-member limited liability companies. Once the pilot project gains traction, this kind of registration will be made available to other, more complicated legal forms, the registration of which requires a larger number of documents.

The amendments to the Company Law introduce another new feature – the authorization of the signature on the founding document, if it is a digitized document, can be replaced by a qualified electronic signature or a qualified 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 statute, in an electronic, that is, a digitized form, is registered electronically, under the Law on the Registration Procedure.

The legal requirements is thereby met for the implementation of the electronic registration of a company, which will save time spent in queues and eliminate the founder’s costs of the authorization of a signature, whereas the compensation for the e-registration of a company will be 20% lower than the registration of a paper application and the accompanying 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 have an account open at the system for centralized application, accessed through the e-Services link on the BRA website.

Let us remind that the BRA started carrying out the electronic registration of enterprises on January 1, 2018.

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