Dimitrov Ivanov & Partners - Attorneys at law

News

May 27, 2014

Amendments in BNB’s Regulation 26 on Financial Institutions

A regulation amending Bulgarian National Bank Regulation 26 on Financial Institutions was promulgated in the State Gazette, issue 44 of 27 May 2014. The amendments aim at bringing the Regulation in conformity with the recent changes in the Credit Institutions Act. The objectives of the Regulation include the establishment of procedures and criteria for the registration of financial ... more


May 7, 2014

New regulation of agricultural land ownership

The latest amendments to the Agricultural Land Ownership and Use Act (State Gazette, issue 38 of 7 May 2014) introduced new rules on the acquisition and ownership of agricultural land in Bulgaria.

Under the new provisions only individuals and legal entities which have resided or have been established in Bulgaria for more than 5 years are eligible to acquire agricultural land. ... more


April 22, 2014

New amendments to the Consumer Loan Act

The Bulgarian parliament passed amendments to the Consumer Loan Act (State Gazette, issue 35 of 22 April 2014).

According to the amendments it is now required for all stipulations of the loan agreement to be made with one and the same appearance, format and in font size no smaller than 12 points.

Unilateral amendments to the total cost of the consumer loan are ... more


March 21, 2014

Bulgarian Parliament passes amendments to the Labour Code

With its latest amendments (promulgated in the State Gazette on 25 March 2014) the Bulgarian Labour Code now explicitly regulates internships and the relationship between employers and interns.

The Labour Code now requires employers to sign labour contracts with interns for a period of six to twelve months. Eligible to be employed as interns are only people aged under 29 with ... more


November 1, 2013

Better late than never - Krassi Zhekova has joined our team

October saw a +1 milestone in our law firm. Krassimira Zhekova joined us to bring some new energy, ambition and expertise.

Krassi comes with more than 12 years of experience, again, in some of the most prominent law firms in Sofia. She specialises mainly in corporate and M&A law, employment, banking and finance law. Krassi holds diplomas from the Sofia University and the ... more


January 15, 2013

Our new office is now open

Dimitrov Ivanov & Partners moved to a new office. You are now welcome at Building 8, Balsha Str., Ivan Vazov District, Sofia 1408. more


October 21, 2011

Bulgarian Labour Code now explicitly regulates telecommuting

The latest amendments of the Bulgarian Labour Code (published in the 82nd edition of the State Gazette for 2011) introduce the explicit possibility and regulation of telecommuting.

Telecommuting or telework is voluntary – it cannot be imposed on the employee or the employer. Rather, it requires the mutual consent of both parties. The Labour Code requires that ... more


September 21, 2011

Bulgarian OOD and AD discussed in the latest issue of the Forbes Magazine

Our new article for the Forbes Magazine (p. 88) discusses the features of a Bulgarian OOD (private limited company) and an AD (joint-stock company) and the driving forces for choosing either of them for one's business.

The article was written by our managing partner Dimitar Ivanov. more


August 26, 2011

Our new article “About The Mark” published in the new edition of the Forbes Magazine

About The Mark is our new article for the Forbes Magazine, published in its sixth edition (p. 95). The article was written by DIP’s managing partner Borislav Dimitrov.

The article deals with some of the benefits of having your business protected by a trademark or other mark and, accordingly, with the implication of the failure to secure such protection. more


July 28, 2011

DIP with a new article for the Forbes Magazine

We have a new article published in the 5th Bulgarian issue of the Forbes Magazine. The article is titled The Balance in the Employment Relationship (p. 93) and was written by our managing partner Borislav Dimitrov.

The article gives an overview of some aspects of the employment of staff and suggests how employers can balance their and their employee's rights and ... more


June 24, 2011

The fourth Bulgarian edition of the Forbes Magazine is out and we are in it.

We have published an article titled Contracting Wisely in the 4th Bulgarian edition of the Forbes Magazine under the Ask the Expert section (p. 84).

The article suggests some key points one should have in mind when entering into a contract.

We will be expecting your feedback. Hopefully, if it is positive, we will have more to share with you in the future. more


February 22, 2011

Cash Payment Restriction Act promulgated

The new Cash Payment Restriction Act (CPRA) was promulgated Tuesday in the Bulgarian State Gazette.

The new CPRA introduces a prohibition for cash payments in excess of BGN 15,000 (ca. EUR 7,670) or above an equivalent amount in a foreign currency.

A limited number of transactions are exempt from the restrictions of the CPRA. These include salary payments, occupational currency ... more


December 28, 2010

Commercial Register re-registration deadline postponed

A last minute amendment of the Commercial Register Act was promulgated in the 28th December's issue of the State Gazette.

With the only amendment of the Act the Parliament extends the deadline for re-registration of traders with the Commercial Register maintained by the Bulgarian Registry Agency by one year - until 31 December 2011. more


November 2, 2010

The new Insurance Premium Tax Act promulgated

The new Insurance Premium Tax Act (IPTA) was promulgated today in the Bulgarian State Gazette.

The IPTA introduces a new indirect tax. The tax is levied on the insurance premiums on general insurance policies (with certain exceptions). Life insurance policies are excluded from the scope of the IPTA.

The tax rate is 2% on the insurance premium and it is payable by the insurer. The ... more


October 29, 2010

Amendments of the Commercial Shipping Code

The latest amendments of the Commercial Shipping Code were published in today’s issue of the State Gazette. Most of the new provisions concern ship mortgages. The amendments also introduce a single document ship registration system, as well as new sailor staffing opportunities.

The provisions on ship mortgages are broadened and detailed. Some of the new provisions include:
... more


October 25, 2010

Our new publication is now available: The Quick Guide to Bulgaria: Tax & Legal

We just released our short guide book:The Quick Guide to Bulgaria: Tax & Legal. The guide is developed together with VGD Bulgaria and gives an overview of Bulgarian business and tax legislation. Check out our Publications section for more details. more


September 14, 2010

SAC upholds CPC’s decision sanctioning concerted practice by 13 sunflower oil producers

The Supreme Administrative Court upheld a decision of the Commission for Protection of Competition for imposing sanctions on 13 producers of sunflower oil due to established violations of the Protection of Competition Act. The court found that a concerted practice between independent and competitive undertakings was at hand which affected the oil seed market. This concerted practice refers to ... more


July 30, 2010

Amendments of the Labour Code

New amendments to the Labour Code were promulgated in State Gazette today.

Most of the amendments are designed to modify the current regime of paid annual leave. The new amendments provide that the paid annual leave will be used in whole or in part according to a schedule approved by the employer for the year for which the leave is due. The above schedule will be elaborated by the ... more


July 16, 2010

Amendments of the Protection of Competition Act

New amendments to the Protection of Competition Act were promulgated in the State Gazette today.

According to the new amendments the number of the members of the Commission for Protection of Competition is reduced from 7 to 5 and the term of office of the Commission’s chairperson is shortened from 6 to 5 years. In its new composition the Commission consists of one chairperson, one ... more


July 13, 2010

Amendments of the Advocacy Act

The latest amendments in the Bulgarian Advocacy Act were promulgated in the State Gazette today.

The amendments are intended to bring the Advocacy Act into compliance with Directive 98/5/EC of the European Parliament and of the Council of 16 February 1998.

The amendments introduce the possibility for lawyers from EU member states who belong to a grouping in their home member state ... more


June 8, 2010

Amendments of the Financial Supervision Commission Act

The latest amendments of the Financial Supervision Commission Act were promulgated today in the State Gazette.

The first main amendment provides for reduction of the number of members of the FSC from seven to five, as well as a new election of FSC members to be made in the coming weeks.

The second key amendment introduces a requirement for disclosure of of "actual" owners of ... more


June 8, 2010

No evidence found for infringements by the Association of Banks in Bulgaria

The Commission for Protection of Competition (CPC) found no evidence for infringements of Art. 15 of the Protection of Competition Act by the Association of Banks in Bulgaria (ABB).

In the summer of 2009 CPC launched an investigation procedure, as approached by the chairpersons of the Centre of Human Rights and the National Association of Bulgarian Business with regard to the overall ... more


June 1, 2010

Financial Statements Publication Deadline Approaches

The statutory deadline for publication of annual financial statements (30 June) approaches. The fine for failure to publish the relevant financial statements for companies and sole proprietors is in the range BGN 2,000 - 3,000. Please note that If you got fined for the same thing last year, you can expect a double fine this year. □ more


June 1, 2010

31 December is the Deadline for Re-registration of Traders with the Commercial Register

Traders and branches of foreign traders already registered in the commercial registers and registers of cooperatives, kept by the registration courts, are subject to obligatory re-registration in the single Commercial Register, operating as from 1 January 2008. The deadline for re-registration expires on 31 December 2010.

For the purpose of completing the re-registration procedure the ... more


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