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New EU programmes in support of Bulgarian businesses

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,

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Epidemic Emergency Situation

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

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Non-operating companies will be exempt from filing no activity declarations

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

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New Law on Real Estate Loans

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

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New Labour Migration and Mobility Act

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

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List of professions with shortage of experts

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

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Successful ISO 9001:2015 and ISO 27001:2013 accreditation

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.

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Forthcoming changes concerning biomass plants

According to the current legal provisions only new power plants which correspond to the below -mentioned requirements could benefit from the compulsory purchase of electricity at preferential prices. These are power plants with combined

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Corporate Commercial Bank pronounced bankrupt

Since the five – member jury of the Supreme Administrative Court left without consideration the appeals filed by the majority shareholders in Corporate Commercial Bank against the decision of the Bulgarian National Bank to

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Supreme Court confirmed CCB license withdrawal

A three-member jury of the Supreme Administrative Court left without consideration the appeals filed by the majority shareholders in Corporate Commercial Bank. The court stated that the shareholders did not have any direct interest

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Report on preferential prices of electricity produced from biomass

On 08.01.2015 at 10.00 am in the office of the State Energy and Water Regulatory Commission (SEWRC) public discussions shall be held on a report for amendment to preferential prices of electricity produced from

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Bulgaria will keep its flat tax rate of 10% on personal incomes

Bulgaria will keep its flat tax rate of 10%, Bulgarian National Assembly has decided, rejecting motions to re-introduce progressive taxation. Members of parliament from the minority government coalition of centre-right GERB and right-wing Reformist

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