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Bulgaria > Law firm and leading lawyer rankings

Editorial

Legal 500 Doing Business in Bulgaria

Contributed by Delchev & Partners

Doing Business in India

Delchev & Partners are especially proud to announce the publication of the book “Vertical Agreements, EC - Bulgaria”. It's the first of its kind on the Bulgarian market and a part of a unique pan-European project in the center of which is the Oxford University Press monograph “Vertical Agreements in EU Competition Law” authored by Frank Wijckmans and Filip Tuytschaever.

FACTS ABOUT BULGARIA

The Republic of Bulgaria is a South-Eastern European country located in the Eastern part of the Balkan Peninsula. It is a natural crossing point between Europe, Asia and Africa – a strategic location enhanced by its proximity to the Black Sea and the Danube River.

The territory of Bulgaria is 111 thousand sq. km. and its population is around 7.3 million.

The official language in the Republic of Bulgaria is Bulgarian – an Indo-European language, part of the Slavic family.

The official currency is the Bulgarian lev (BGN). Its exchange rate against the Euro is fixed at EUR 1 = BGN 1.95583.

Bulgaria has been a member of the European Union (EU) since 2007. At present, Bulgaria is not a member of the EU Schengen area or of the Euro zone.

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Legal market overview

The Bulgarian market continues to build on the success of recent years with a constantly developing economy and substantial activity in the real estate, commercial and corporate sectors. The country has also seen notable overseas investment due to low interest rates and increased EU fund absorption rates, particularly from major South African investors. The TMT and energy sectors also demonstrated substantial activity levels with a number of recent pan-European deals in these areas having a significant Bulgarian component. It is expected that overseas investment will grow further in 2019 and beyond, although the political crisis in Turkey – a key trading partner for the country – is likely to restrain export growth.

Domestic firms dominate the market with Boyanov & Co.Djingov, Gouginski, Kyutchukov & Velichkov and Kambourov & Partners being notable examples. The market also fields multiple firms with strength across the CEE region including CMSWolf Theiss and Schoenherr (in cooperation with Stoyanov & Tsekova). Several firms also continue to expand their presence in the jurisdiction; examples include Jordanov, Ignatov, Ivanov Law FirmDimitrov, Petrov & Co and Georgiev, Todorov & Co.

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