I. The need to adopt a new form of incorporation Recent amendments (August 1st, 2023) to the Commerce Act of the Republic of Bulgaria enable the creation of a new, sixth type of business entity: the Variable Capital Company (VCC).
The free movement of capital is one of the four basic freedoms of the EU, but as evidenced by the anti-money laundering regime, that freedom is not absolute. Restrictions on transfer of funds may be imposed for protection of a
Employees have access to employers’ confidential business information by necessity in the course of fulfilling their professional duties. Having assessed this access and the associated risks, it is common for employers to insert a clause in the employment contract or
By adopting the European Green Deal, rolled out in late 2019, the European Commission has declared its intention to have the CO2 emissions of the European Union reduced by no less than 55% by 2030, and to make the EU
On April 20, 2023, the European Parliament voted in favor of adopting the European Commission’s Proposal for Regulation on Markets in Crypto-assets, which was published in the Official Journal of the EU on 08.06.2023 г. – https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A52020PC0593. With this, the
Any foreign legal entity authorized to carry on business under its own national law can open a commercial representative office in Bulgaria. Such commercial representative office must be listed in the Unified Trade Register of the Bulgarian Chamber for Commerce
A number of rulings passed by the Supreme Court of Cassation (SCC) between 2007and 2014 proceed, in no uncertain terms, from the premise that a parking space is not a separate, stand-alone object of ownership rights, which complicates transactions involving
The COVID-19 pandemic of 2020 and the globally increasing inflation exacerbate the challenges facing businesses and the frequency of insolvencies leading to an ever larger number of bankruptcy proceedings. These facts provide an incentive for the contractual party in good
Most generally, under Bulgarian law, a real property easement is the kind of encumbrance imposed on a piece of property, designated as servient, on behalf of another property, designated as dominant, belonging to a different owner. This is not the
As of the end of February 2021 in the Foreigners in the Republic of Bulgaria Act was provided an option for issuance of Startup Visas for foreigners, who actually participate in the realization of high-tech or innovative projects. More than
