MK Brokers can be your registry agent with the Bulgarian Central Depository institution and can provide the following services:
- Registration of deals with financial instruments, that were directly negotiated between the counterparts;
- Transfers of financial instruments for inheritance and/or donations;
- Data amendments for the holders of financial instruments;
- Data corrections;
- Portfolio statements;
- Issuance of duplicates, certificates and other proofs of ownership;
All the services can be requested either in-person or via a notary certified power of attorney. NB: the issuance of a duplicate of a depository receipt can only be completed with an in-person request as per Central Depository regulations.
Trading with Financial Instruments:
This service includes the registration of any directly pre-negotiated deal with financial instruments with the Central Depository and, if needed, with the Bulgarian Stock Exchange. The documents, required for the service, are:
A contract for the deal with notary certification of the signatures. A notary- certified copy or a separate original of the contract shall remain with MK Brokers;
An original document to certify the ownership of the financial instruments (depository receipt, temporary certificate, etc.), if such is at the owner’s disposal;
A proof of taxes paid, whenever such are due. According to art. 44 for the Law for the Local Taxes of the Republic of Bulgaria, no tax is levied for any estate donated between first-knee relatives and spouses.
After all the documents are procured, any Client and the respective counterparty are welcome to out office, where the Transfer Orders shall be submitted.
Donation
If you intend to donate or are in the process of being donated financial instruments, the first step is the drafting of the donation contract. The contract must bear notary certification and an original of the contract must remain with MK Brokers’ archive. We provide assistance with contract drafting. The rest of the necessary documents are:
An original document to certify the ownership of the financial instruments (depository receipt, temporary certificate, etc.), if such is at the owner’s disposal;
A proof of taxes paid, whenever such are due. According to art. 44 for the Law for the Local Taxes of the Republic of Bulgaria, no tax is levied for any estate donated between first-knee relatives and spouses.
After all the documents are procured, any Client and the respective counterparty are welcome to out office, where the Donation Orders shall be submitted.
Inheritance of Financial Instruments
All financial instruments in the estate of a deceased person cannot be directly sold, regardless of any agreements between the heirs. An inheritance procedure must be completed first. We can carry the process of inheritance of financial instruments. The required documents are certificate of heirs (bearing a date of not more than 6 months to the inheritance date), a notary certified contract of inheritance (if there are two or more than two heirs to a given estate). All the required paperwork can be completed in our office.
Amendments in Personal Data
If you would like to amend the personal data with which you are registered with the Central Depository, you could submit a Personal Data Amend Request with MK Brokers. The required documents are:
- All original document to certify the ownership of the financial instruments (depository receipt, temporary certificate, etc.);
- If the personal identification number (ЕГН) is to be amended, a certificate from the ESGRAON department or the Civil Status department with the given municipality, proving the correct name and personal identification number of the person must be provided;
- A decision by a court of justice or a marriage certificate must be provided when the change is supplied through such actions;
- Other documents to certify the change in personal data;
NB: An amend in the personal data for clients, owning compensatory instruments cannot be carried out. Such an amend can be done only under the provisions of the Law for Transactions with Compensatory Instruments and the Ordinance for the Activities of Central Depository Connected to the Registration of the Issuance, Transactions and Payments with Compensatory Instruments. If the case is that a person owns compensatory instruments and other financial instruments, MK Brokers can execute and apply personal data change only concerning the ownership of the financial instruments.
Duplicate of Depository Receipt
If you do not possess any depository receipt or other document of ownership of financial instruments, you can submit a request for a duplicate with MK Brokers.
Portfolio Statements
MK Brokers can issue a portfolio statement regarding all the securities owned by a person with Central Depository.
