According to the agency Executive Director Emil Stankov, the establishment of the register is of exceptional significance for this country as it introduces a standard centralized information system which has many advantages, including transparency and speed of registration. "Phantom" companies can no longer be registered and such that have been registered so far will be erased.
The registration procedure of a company via Internet takes six to seven minutes at www.brra.bg. A registry number is generated which marks the year, month, date, hour, minute and second, only one number being generated per second which precludes the opportunity for doubling of numbers. All generated incoming numbers are "queued" and distributed among registration officials by chance.