The Bulgarian Supreme Court of Cassation ("Supreme Court") has recently issued a decision (No.19, dated 8 August 2019, under commercial case No. 2511/2017) that recognises for the first time the concept of right of first...

The LPC treats as a concentration the creation of a joint venture performing on a lasting basis all the functions of an autonomous economic entity.

Unsurprisingly, the most common M&A transaction structures in Bulgaria are share deals, in which the target company is acquired with all its assets and liabilities, and asset deals, in which individual assets are acquired.

In a significant move to boost Bulgaria's entrepreneurial ecosystem, the government introduced the Variable Capital Company (VCC) through amendments to the Bulgarian Commercial Act in August 2023.

On 2 January 2017, amendments to the Bulgarian Commerce Act (the "Act") entered into force in Bulgaria.

Not every partnership that starts with the popping of champagne corks but ends in a vicious battle for property and regrets at not having obtained proper legal advice in advance is necessarily a failed marriage.

In Bulgaria, dividends are the income shareholders and partners receive based on their participation in the capital of domestic legal entities.

On 7 November 2024, BOYANOV & Co. with the support of the European Investment Bank organised the international conference "Life-Cycle Challenges of the Start-Ups".

The law governing offers of shares and other securities to the public is to be brought into line with EU law, under proposed changes published by the Council of Ministers on 29 August 2012.

The Supreme Cassation Court of Bulgaria comprehensively expressed its opinion on the substantive legal aspects of the economic adverse change clause.

The new Measures against Money Laundering Act (the "MAMLA") promulgated in the State Gazette, issue 27, dated 27 March 2018, and entered into force on 31 March 2018

Recently financial institutions are increasingly interested in obtaining opinions on the enforceability of repurchase transactions and securities lending transactions with Bulgarian counterparties.

The EU Foreign Subsidies Regulation ("FSR") started to apply on 12 July 2023 as another instrument in the EU regulatory toolkit aimed at preventing distortions of competition on the EU internal market.

Should a contemplated transaction satisfy the criteria discussed at Part 1, the mandatory merger control would apply and the responsible party or parties must file a notification with the CPC.

Company Formation in Bulgaria* Bulgarian companies can avail of the lowest corporate tax rate in Europe at just 10%* ...

The upcoming transition to the single European currency in Bulgaria effective January 1, 2026 represents more than a financial transformation. It calls for coordinated legal, accounting...

The party seeking the recognition and enforcement of a judgement rendered by a foreign court ("FCJ"), including in cases where the jurisdiction of such foreign court is based on the contractual choice by the parties to an agreement, is required to apply for the recognition and enforcement of the FCJ before the Sofia City Court ("SCC").

When you consider an investment in Bulgaria or exiting an existing investment (either an entity, a business as a going concern or a part of it, or an income generating asset) you would diligently check...

From 1 January 2020, the Bulgarian Commission for the Protection of Competition (the "CPC") has been applying new merger filing guidelines (the "Guidelines").

Bulgarian law requires that the directors of Bulgarian joint-stock companies perform their functions as directors by adhering to the "duty of care" standard of a prudent businessperson and always...