On 29.03.2024 an Act amending and supplementing the Labour Code was promulgated in the State Gazette No 27. The changes entered into force on 01.04.2024. In this article is summarising the most important changes. Requirements for the content of the employment contract in case of remote work In addition to the essential elements of the […]
Amendments to the Condominium Ownership Management Act As of 01.01.2024 numerous amendments of the Condominium Ownership Management Act have entered into force, introduced by State Gazette No 82 dated 29.09.2023. 1.Electronic documents As of 01.01.2024 the possibility of electronic recording and storage of information related to the condominium ownership in electronic form […]
Bulgarian businesses will soon be able to take advantage of two new programmes aimed at overcoming the negative economic effects of the COVID-19 pandemic. The programmes are part of the Innovation and Competitiveness 2014-2020 Operational Program, in particular Support for the small enterprises having a turnover of over BGN 500,000 aimed at overcoming the negative economic effect of […]
On 14.05.2020 an Act Amending and Supplementing the Health Act came into force. By virtue of the approved amendments the Council of Ministers and the Minister of Health were authorised to undertake actions aimed at implementation of adequate anti-epidemic measures following the official lifting of the state of emergency. Following approval of the above-described amendments, […]
We are pleased to share with all our clients that Nikolov & Partners Lawyers’ Partnership has been successfully certified with ISO 9001:2015 accreditation by one of the world’s leading assessment auditors – Lloyd’s Register. The successful accreditation process has confirmed that our law firm’s quality management systems are designed and operated in a way enabling […]
By amendments to the Accountancy Act promulgated in State Gazette No 92 dated 17.11.2017, all non-operating companies were released from the requirement to announce their annual financial statements. Instead, such companies were obliged to declare their lack of activity on an annual basis until 31 March of the year following the accounting period. By virtue […]
On 02 August 2016 a new Law on loans extended in relation to acquisition of real estate properties entered into force. By the said Law the regulations of Directive 2014/17/ EC of the European Parliament and the Council dated 04.02.2014 are being implemented in the national legislation. The Law applies for credit agreements concluded between […]
A new law regulating labour migration and mobility shall enter into legal effect on 21.05.2016 (“LMLMA”). Main goals of the new law The new LMLMA aims to harmonize Bulgarian legislation with the acts of the European Union in the area of free movement of employees and employment of foreigners – citizens of third countries outside […]
The list of professions for which there is a shortage of qualified employees in Bulgaria has been approved. The list has been issued on the basis of the latest amendments to the Ordinance on the terms and conditions for issuance and rejection of work permits to foreigners in the Republic of Bulgaria and more specifically […]
On 1 January 2016 a new Accountancy Act shall enter into force as it shall introduce numerous amendments and supplements to the existing regulations concerning financial statements, independent financial audit of Bulgarian companies, announcement of annual financial statements and regulatory periods for storing of accounting information 1. Categories of enterprises The new law introduces several […]