Contracts
Commercial Law
Advising clients on both domestic and cross border matters, in the following areas:
- Consultancy contracts
- Agency agreements
- IT agreements (agreements of development of mobile applications, contracts of hosting services, etc.)
- Licensing agreements
- General terms and conditions
- Competition
- Marketing
- Compliance policies such as anti-money laundering measures and personal data protection.
Intellectual Property
Commercial Law
If you are in business, you have a trade mark which can be your most valuable asset. Your trade mark differentiates your services and products from everyone else’s. Your trade mark is part of your intellectual property and is crucial to your success as a business.
Our experienced lawyers can help you in registration of national (Bulgarian) trademark (TM) in the Patent Office of the Republic of Bulgaria in Sofia city or of European Union trade mark (EUTM) in the European Union Intellectual Property Office (EUIPO) in Alicante, Spain to include:
- Search for trade marks, similar to ТМ/EUTM requested by the client
- Filing of ТМ/EUTM applications
- Tracking the entire registration process and assistance if the owners of trade marks that are already on the market, oppose the ТМ/EUTM
- Filing of renewal applications of registered ТМ/EUTM
Advising micro, small and medium-sized enterprises (SMEs), established in the European Union, to receive financial funds from the Ideas Powered for business SME Fund which is designed to support the intellectual property rights. The SME Fund is a European Commission initiative implemented by the European Union Intellectual Property Office.
Business Entities
Corporate Services
Limited liability companies (LLC) are the most common form of business organisation. The owners’ liability is limited to the share contribution in the company capital. The owners are not personally liable in the event that the company is sued.
We advise on most aspects of structuring and setting up your business in Bulgaria (including subsequent changes) to include:
- Limited liability company (LLC)
- Joint-Stock company (JSC)
- Branch office of a foreign corporate
- Representative office
Please refer to “Incorporation” for more information about how to form a company.
Incorporation
Corporate Services
We normally incorporate new LLC or JSC within 5 business days from receipt of signed company documents and a bank slip for deposit of the share-capital.
Our standard service for Limited Liability Company or Joint-Stock company includes:
- Name search, similar or identical to the name requested by the client, against Commercial register’s database
- Standard Articles of Association
- Minutes of company’s formation and appointment of manager(s) / board of directors
- Declarations in compliance with the Bulgarian Commercial Law, from the manager(s) / members of the board of directors
Please send us the following information for company’s formation:
- Company name
- Scope of activities
- Information on the capital owner(s), including ultimate beneficial owner(s)
- Information on the manager(s) / members of the board of directors of the company
- Method of representation with more than one manager / executive director
- Initial share-capital
- Amount of the shares with more than one owner
We can also offer optional services to include:
- Assistance with opening of capital bank account to deposit the initial company capital
- Company registered office
- Analysis and registration of ultimate beneficial owner(s) at Commercial register in compliance with the Law on Measures against Money Laundering
- A contact person under art. 63, para. 4, item 3 of the Law on Measures against Money Laundering
- Filing declarations with no activity and the annual financial accounts at Commercial register
- Shareholders’ agreements
Dissolution & Liquidation of the Company
Corporate Services
A company may dissolve its business voluntarily. In such a case a liquidation procedure is initiated, which passed through several stages:
- Communication to National Revenue Agency (NRA)
- Registration the dissolution of a company (liquidation) at Commercial register
- Publication of an invitation to creditors at Commercial register
- Obtaining a certificate for dissolution of a company from National Social Security Institute (NSSI)
- Strike off a company at Commercial register
Term of liquidation: from 8 to 12 months.
Mergers & Acquisitions
Corporate Law
We provide legal services in relation to mergers and acquisitions of undertakings, including:
- Due diligence
- Structuring
- Share/Quota Purchase Agreements – drafting, review and revision, negotiation, assistance with signing and closing of the transaction
- Merger clearance