Unification of the e-platforms of the Bulgarian Commercial Register and the Bulgarian Real Estate Register

Unification of the e-platforms of the Bulgarian Commercial Register and the Bulgarian Real Estate Register

As of the 27th of July 2020 the electronic platform https://brra.bg and https://icadastre.bg will be incorporated into a Single Electronic Administrative Services Request Portal https://portal.registryagency.bg . In the period from the 9th of June 2020 to the 27th of July 2020 the users will be

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New changes to the 60/40 Scheme

New changes to the 60/40 Scheme

New changes to Decree No 55 of the Council of Ministers on the 60/40 Scheme were promulgated on the 21st of April 2020 (hereinafter the “Decree”). The changes were made further to recent the Amending and Supplementing Act to the Bulgarian State of Emergency Measures

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Update on and Amendments to the State of Emergency Act

Update on and Amendments to the State of Emergency Act

The Amending and Supplementing Act (“Amending and Supplementing Act”) to the State of Emergency Measures Act, during the State of Emergency declared pursuant to the Resolution of the Bulgarian Parliament of 13 March 2020, adopted on 6 April 2020 (the “State of Emergency Act”) was

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Governmental Support 60/40 (AI Law Firm Newsletter)

Governmental Support 60/40 (AI Law Firm Newsletter)

On 30 March 2020 the Bulgarian Government adopted Decree No 55 regarding payment of compensations to keep the employees in the businesses affected by the State of Emergency, declared by the Bulgarian Parliament on 13 March 2020. The amount of the compensation is 60% of

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State of Emergency Measures Act

State of Emergency Measures Act

Summary of the principle measures, set forth in the recently enacted State of Emergency Measures Act, declared pursuant to the Resolution of the Bulgarian Parliament of 13 March 2020 (the “Emergency Measures Act“) The Emergency Measures Act sets forth measures concerning various areas, by introducing:

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New Trademarks and Geographical Indications Act

New Trademarks and Geographical Indications Act

A new Trade Marks and Geographical Indications Act entered into force in the end of 2019. Thus, Directive 2015/2436 dated December 16, 2015 was transposed into the Bulgarian law. The main changes entail: • the elimination of the requirement for graphic presentation of the Trademark

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Update of Anti-Money Laundering Rules Required

Update of Anti-Money Laundering Rules Required

On the 9th of January 2020 the Bulgarian National Security State Agency (“NSSA”) published on its website the Results from the Money Laundering and Terrorism Financing National Risk Assessment (“NRA“). The NRA was published pursuant to the requirements of the recent Bulgarian Anti-Money Laundering Act,

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Bearer Shares to be converted into Registered Shares

Bearer Shares to be converted into Registered Shares

All Bearer Shares held in Bulgarian resident Joint Stock Companies have to be converted into Registered Shares. The conversion has to be completed by the 23rd of July 2019 Non-compliant Joint-Stock Companies will be subject to termination and deregistration. The above results from changes to

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Case law on Insolvency

Case law on Insolvency

The Supreme Court of Cassation awards an Interpretative Decision dealing with the admissible evidences in the course of examination of the objections against the lists of accepted and non-accepted receivables as per Insolvency proceedings The Supreme Court of Cassation of the Republic of Bulgaria has

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Cyber security

Cyber security

The Cyber Security Act of the Republic of Bulgaria has been in force and effect as from 13th of November 2018. The Act introduces specific obligations and measures with a view to achieving of high level of network and data security. Further advice: CONTACT US