NEWS & PUBLICATIONS
Here you can find our latest publications and news that you can find helpful for your business.
Find out our selection of news and publications related to Bulgarian law and legal practice.
See our publications on current legal issues, legislative amendments and court practice in Bulgaria.
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 In March 2022, this exception of the property law was revoked, in part, due to a recent decision of the Bulgarian Constitutional Court that ruled against it as non-proportionate and unjustified with respect to certain urban real estate of the state and municipalities. When the new democratic
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 resolved, the sanctions are likely to expand even further. While the sanctions are yet to result in cease-fire, the immediate collateral effect on entrepreneurs outside Russia and Belarus and their ongoing transactions in these countries is already tangible:
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 the fall and in force until the end of November 2021. Along with the already known measures to limit the epidemic, the authorities expand the requirement to present a green certificate for participation in activities related to gathering
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 than 30% of the meeting room capacity, up to 30 participants, who keep distance of at least 1.5 m. between each other and wear face masks on their faces. The exception does not apply to team buildings and
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 their services and products, the law, the Bulgarian fiscal authorities have been clear for years regarding the tax treatment of the proceeds from this trendy activity. The income from cryptocurrency transactions is taxable. In 2014, the Bulgarian National
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 the effectiveness of the measures against money laundering and terrorist financing by focusing the resources on companies representing higher risk. As of March 2021, three groups of persons and entities are no longer required to report and comply
