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New register of bank accounts from the beginning of 2017

Today at a meeting of the Administrative Board of BNB the Ordinance № 12 on the register of bank accounts and safe deposits was adopted and will come into force from January 1, 2017. The establishment of an electronic database is expected and will provide centralized information about the numbers, type and currency of the bank accounts, their holders and persons authorized to operate with them and for persons, tenants of safe deposits in banks and persons authorized by them.
An obligation has been introduced for banks to provide information on a monthly basis on the register for: the opening of new accounts, the closure of accounts or change in already submitted data, the conclusion of a contract for the tenancy of a safe deposit, the termination of usage of a safe deposit or change in circumstances regarding the rent of the safe deposit.
Bodies and institutions under art. 56a, para 3 of the CIA will have access to the information from the register in connection with the execution of their duties at the occasion of specific verifications, and namely: the judicial authorities /courts, prosecution and investigation authorities/ DG “National Police” and the Chief Directorate “Combating Organized Crime” of the Ministry of Interior, State Agency “National security”, National Revenue Agency, the Commission for withdrawal of illegally acquired property, the bailiffs in an enforcement case and the chief inspector or an inspector from the Inspectorate with the Supreme Judicial Council.
Any person will be able to obtain information about data related to him contained in the Register as a holder of a bank account, tenant of a safe deposit or authorized person. Information can also be received by the heirs of the deceased persons. The information will be provided free of charge to natural persons for a period of 14 days, while in other cases – for a fee.

 

author: Vesela Velinova, attorney-at-law

Member of “Velinov and partners” Consulting House

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