Categories of Obliged Persons

Measures for prevention and disclosure of money laundering acts are defined under Article 3, paragraph 1 of the Law on Measures Against Money Laundering (LMML) and include monitoring, collection of information, identification and verification of clients and beneficial owners, financial, commercial and professional relations, risk profiles, suspicious transactions and deals.

The measures are executed by the obliged persons under Art. 3, paragraph 2 of the LMML:

1. The Bulgarian National Bank, credit institutions carrying on activity within the territory of the Republic of Bulgaria, financial institutions, exchange bureaus and the other payment service providers;

2. Insurers, re-insurers, and insurance agents, headquartered in the Republic of Bulgaria; insurers, re-insurers, and insurance agents from an European Union Member State or a state - party to the Agreement on Establishment of the European Economic Area, which engage in operations on the territory of the Republic of Bulgaria; insurers and re-insurers, headquartered in states, other than those indicated, licensed by the Financial Supervision Commission, to conduct operations in the Republic of Bulgaria through a branch; insurance agents, headquartered in states, other than those indicated, listed in a Financial Supervision Commission registry;

3. Mutual investment schemes, investment intermediaries and management companies;

4. (amended Sg No. 60/2012, effective 07.08.2012) pension insurance companies;

5. Privatisation authorities;

6. Persons who organise the awarding of public procurement orders;

7. Persons who organise and conduct gambling games;

8. Legal persons which have employee mutual aid funds;

9. Persons lending cash against a pledge of chattels;

10. Postal operators licenced to perform postal money orders under the Law on Postal Services;

11. Notaries public;

12. Market operator and/or regulated market;

13. Leasing entities;

14. State and municipal authorities executing concession agreements;

15. Political parties;

16. Trade unions and professional organisations;

17. Non-for-profit legal entities;

18. Registered auditors;

19. National Revenue Agency authorities;

20. Customs authorities;

21. Repealed SG No. 16/2011;

22. Sports organisations;

23. The Central Depository;

24. Repealed SG No. 16/2011

25. Merchants dealing in arms, petrol and petrochemical products;

26. Persons providing, by occupation, advice in taxation matters;

27. Wholesale traders.

28. Persons providing, by occupation, advice in legal matters, where they:

a) Participate in the planning or performance of a client deal or transaction concerning:

aa) Purchase or sale of a real property or transfer of a merchant's business;

bb) Management of cash, securities, or other financial assets;

cc) Opening or operating a bank account or a securities account;

dd) Raising funds to incorporate a merchant, increase the capital of a company, extend a loan or for any form of raising funds for the business operations of such merchant;

ee) Incorporate, organise operations or management of a company or another legal person, an off-shore company, a company managed under a trust arrangement or any other such entity;

ff)  Fiduciary property management;

b) Act for the account or on behalf of their client in any financial or real property transaction;

29. Persons providing real property intermediation by occupation;

30. Persons, whose occupation is to provide:

a) management address, correspondence address, or office for the purpose of legal person registration;

b) legal person, off-shore company, fiduciary management company or similar entity registration services;

c) fiduciary management services for property or person under letter b);

31. Persons whose occupation is to provide accounting services;

32. Private enforcement agents;

33. (New, SG No. 22/2014, effective 11.03.2014) The Executive Director of the Executive Environment Agency as the national administrator within the meaning of Commission Regulation (EU) No 389/2013 of 2 May 2013 establishing a Union Registry pursuant to Directive 2003/87/EC of the European Parliament and of the Council, Decisions No 280/2004/EC and No 406/2009/EC of the European Parliament and of the Council and repealing Comission Regulations (EU) No 920/2010 and No 1193/2011 (OJ L 122/1, 3 May 2013).