On 4 July 2024, the Minister of e-Government proposed a bill for amendment to the Cybersecurity Act transposing NIS 2 Directive (EU) 2022/2555. All interested parties may publish their comments on the bill in the public consultation process until 3 August 2024. The amendments in the Cybersecurity Act provide only general risk management and reporting […]
Non-solicitation (no-poach) arrangements may restrict competition between employers, lowering productivity and salaries, restricting expansion or entry of competitors, hindering innovation and even increasing consumer prices. We have outlined those aspects of the non-solicitation arrangements in our previous article on this topic Bulgaria: Non-Solicitation Clauses in Commercial Contracts. Non-solicitation arrangements are widely used in Bulgaria in
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
Bulgaria introduces a foreign direct investments (FDI) screening regime Read More »
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
The new legal framework for geothermal energy in Bulgaria Read More »
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 comes ahead after the removal of the employment record? Read More »
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
On April 26th 2023 the European Commission (the “Commission”) announced its views on the implementation of the pharmaceutical reform in the European Union. The proposals of the Commission are determined to be the largest reform in this matter over the last 20 years. The Commission adopted a proposal for a new Regulation and a new
A new strategy for the European Union pharmaceutical regulation Read More »
We all know that the rules on business trips under the Bulgarian law have been amended as this matter has been all over the news. Most certainly, the main accent is on the financial aspects of the legislative changes. The minimum amount of the daily allowances in cases of business trips within the territory of
New rules for employee’s business trips Read More »
With a decision of 22 November 2022, the European Parliament put an end to the nearly ten-year-long procedure for the adoption of a Directive on improving the gender balance among directors of companies listed on the stock exchange and on related measures (the Directive). The final text was signed by the representatives of the European
A new EU directive promoting gender equality Read More »
Bulgaria is now one step closer to becoming an attractive venue for entrepreneurs who want to start developing an innovative business. With the introduction of the new Startup visa rules, our country ranks with other European states where similar legal opportunities have existed for a long time. The startup visa is a certificate for a
