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When will the FDI screening rules become applicable? On 08.03.2024 amendments to the Bulgarian Investment Promotion Act (“IPA”) were promulgated in the State Gazette, introducing criteria for foreign direct investments in Bulgaria, which will be subject to preliminary screening. However, the FDI screening will not yet be applicable in practice until the Council of Ministers […]

At the end 2023 the Court of Justice of the European Union announced two judgments on issues related to the application of the General Data Protection Regulation (“GDPR“). Although adopted under specific cases, the judgments provide interpretations that are binding on all national law enforcement authorities within the European Union. Therefore, both judgements should be

Effective as of 13.10.2023, amendments and additions to the Renewable Energy Sources Act (RESA) and several other laws were promulgated in the Bulgarian State Gazette, which aim to develop the prospecting, exploration and use of geothermal energy. A small part of the amendment package is contained in the RESA, mainly definitions. The bulk of the

On 10.10.2023, the long-awaited amendments to the Labour Code (the “LC”) concerning the removal of the employment record were promulgated in the State Gazette. Even before their official publication, these amendments caused a wide public response, as the general perception of the employment record was that it was obsolete and its functions were more related

What is PPA? A PPA (Power purchase agreement) is a contractual agreement for the sale of a certain amount of energy that is generated by a renewable energy source (RES). Usually, PPAs are concluded for a relatively long period of time (between 10 and 20 years) for a fixed price, or for a price linked

On 14.07.2023 certain amendments to the AMLA were promulgated in the State Gazette, which are transposing the requirements of the Fifth Anti-Money Laundering Directive (Directive (EU) 2018/843) and introducing additional measures to improve the anti-money laundering and anti-terrorist financing mechanisms. The amendments to the AMLA introduce significant changes to the way beneficial owners are disclosed