Employer Alert: WHISTLE-BLOWER PROTECTION SYSTEM
Employers are required to implement an internal Whistleblower Protection System by 17 December 2023 according to the Bulgarian law implementing Directive (EU) 2019/1937.
Employer Alert: Regulatory changes facilitate the access to the labor market in Bulgaria for highly-qualified foreigners
Due to recent regulatory changes employers will be able to hire highly qualified foreigners from outside the EU more efficiently. This is good news for companies based in Bulgaria, especially those in the ever expanding IT sector where the demand for talents has been on the increase for the last several years. In the last […]
Employer Alert: amendments to the Bulgarian employment and social security law in effect as of January 2023
In anticipation of reaching a consensus on the adoption of the budget laws for 2023, the National Assembly took the necessary measures to ensure the operational activity of the state administration. The caretaker government, on its part, decreed an increase in the amount of the minimum wage. On 1 January 2023 a law extending the […]
Our team advises a pharmaceutical company on its investment in a new manufacturing and R&D site in Sofia
Adipharm EAD has been on the market for 25 years – currently, its range of products includes more than 100 medicines and food supplements distributed in 36 countries worldwide. Over the past few years, the company has continued to develop successfully despite the challenges through far-sighted management of its production and scientific activities. The project […]
Public real estate is no longer exempt of the prescription rule
The Bulgarian Constitutional Court rules against the moratorium on acquisition by prescription of certain state and municipal urban real estate For more than a decade acquisition by prescription of state and municipal real property in Bulgaria has been suspended with the pretext of protecting public interest. In March 2022, this exception of the property law […]
Sanctions related to the military conflict in Ukraine: The impact on foreign entrepreneurs and ongoing transactions
The economic sanctions imposed on Russia and Belarus by numerous countries are intended to stop the military conflict in Ukraine and avoid the use of military force by NATO and the USA. Russia has responded with a few sanctions on foreign companies and restrictions on transactions or payment in foreign currency. Until this conflict is […]
COVID-19: Public gatherings for non-vaccinated restricted in Bulgaria as of 21 October 2021
New restrictions on public gathering in Bulgaria are in force as of 21 October 2021 as the 4th wave of the COVID-19 pandemic expands to the levels of the spring of 2020. They are imposed by an order of the Minister of Health within the frame of the state of epidemic emergency declared earlier in […]
Covid-19: Restrictions on public gathering in force in Bulgaria until 31 October 2021
From 7 September 2021 to 31 October 2021 events involving gathering of people are restricted with the view to prevent further acceleration of the COVID-19 pandemic in Bulgaria pursuant to Order RD -01-748/02.09.2021 of the Minister of Health. Conferences, seminars, symposium, trainings and other events are still allowed upon certain condition: use of no more […]
CRYTOCURRENCY: IS THE INCOME TAXABLE IN BULGARIA?
As digital money continues to gain popularity and supporters, Bitcoin and Ethereum regularly making global news, it might seem that the tax law is yet to regulate the proceeds of this seemingly innovative source of income. While business only recently started opening up to the opportunities related cryptocurrencies e.g. by accepting these alternative payments for […]
Bulgarian Anti-Money Laundering Act revised again: Fewer companies required to report
In line with the revision of the Anti-Money Laundering Act in January 2021 regarding wholesalers (Wholesalers no longer required to report), the scope of the compliance obligations is further reduced with the next amendment announced today (State Gazette, issue 21 of 12.03.2021). The aim of the legislator, as with the previous revision, is to increase […]
