Wolf Theiss

BULGARIA

Located at the crossroads between Europe and Asia, Bulgaria has always been a culturally distinctive part of the world. With its transition to a free market economy, its rapid economic growth in recent years, a strong industry and one of the most significant energy sectors within the EU, it has become a country of great opportunity. A favourable tax system has attracted many foreign investors, particularly in the sectors of energy, chemical industry, construction and real estate.

Wolf Theiss was among the first to recognise this potential and had been carrying out projects in Bulgaria years before we opened Wolf Theiss Sofia in January 2007. Since then, our team of experts are proud to have managed some of the most complex matters in Bulgaria and North Macedonia and regularly conduct multi-national acquisitions and transactions throughout CEE/SEE.

We believe in tailoring our advice to the needs of our clients and the demands of the business world. Bulgaria – with its pivotal location and expanding economy – is ripe with opportunities. Our expertise encompasses all areas of corporate law, mergers and acquisitions, banking, debt and project financing and capital markets. But our knowledge of the law is only one part of our job:  we bring first-hand understanding of the political, cultural and commercial ecosystems, allowing us to focus our energies on making your project successful.

Contact

WOLF THEISS Bulgaria Office

55 Nikola Vaptsarov Blvd.
BG - Sofia 1407
T. +359 2 8613 700
E.  sofia@wolftheiss.com

Managing Partner

Anna Rizova
Anna
Rizova
Partner
T. +359 2 8613 700
F. +359 2 8620 370
55 Nikola Vaptsarov Blvd.
1407 Sofia
Bulgaria
Press Releases

Newssquare  Wolf Theiss advised Wilsonart Engineered Surfaces on its acquisition of Technistone

Vienna/Prague, 28 August 2019 - Wolf Theiss acted as legal counsel to Wilsonart Engineered Surfaces on its acquisition of Technistone, a world-leading...

Newssquare  Wolf Theiss Advises Chinese Home Appliance Producer Hisense In Takeover Of Gorenje

On 28 June 2018, the China-based producer of home appliances, HISENSE, announced the successful outcome of its takeover offer for the shares in the...

Newssquare  BLOOMBERG AND "THE NEXT BIG THING": CONNECTED INFRASTRUCTURE

Sofia, 19 October 2017 – Wolf Theiss has supported Bloomberg's "Next Big Thing" conference in Sofia covering both macroeconomic and business trends...

Newssquare  WOLF THEISS ADVISES FACTSET ON THE ACQUISITION OF BISAM TECHNOLOGIES

4 May 2017 - Wolf Theiss has advised FactSet, a global provider of integrated financial information, analytical applications, and industry-leading...

Newssquare  WOLF THEISS NAMED "CENTRAL AND EASTERN EUROPE LAW FIRM OF THE YEAR" AT CHAMBERS EUROPE AWARDS FOR EXCELLENCE

Vienna/London – 11 April 2017 – Wolf Theiss has been named "Central and Eastern Europe Law Firm of the Year" in this year's Chambers Europe Awards....

Newssquare  M&A SPOTLIGHT: CEE – WOLF THEISS CORPORATE MONITOR FY 2016

Vienna/London, 16 February 2017 – 98 percent of dealmakers say they are more likely to invest in Central, Eastern and South-Eastern Europe (CEE/SEE)...

Newssquare  Wolf Theiss advised Amundi on the acquisition of Pioneer Investments

Vienna, 16 December 2016 - Amundi has acquired Pioneer Investments from Unicredit for an all-cash consideration of EUR 3.545 bn. Wolf Theiss advised...

Newssquare  Mergermarket names Wolf Theiss CEE M&A Legal Adviser Of The Year 2016

Vienna, 9 December 2016 – Wolf Theiss was named the CEE M&A Legal Adviser of the Year 2016 by MergerMarket at an awards gala in London on 8 December....

Newssquare  WOLF THEISS AND MERGERMARKET RELEASE INSIDE CORPORATE STUDY ON M&A

Vienna, London 17 March 2016 – Poland, the Czech Republic and Romania are the most likely Central and Eastern European (CEE) and South Eastern...

Newssquare  WOLF THEISS ADVISES OSRAM ON THE SPIN-OFF OF THE LAMPS BUSINESS IN 9 COUNTRIES

Wien, 18.02.2016 - Vienna, 18 February 2016 - Wolf Theiss has advised on the spin-off of the traditional lamps business of OSRAM, a leading global...

Newssquare  WOLF THEISS SUCCESSFULLY ADVISED ERG RENEW AND LUKOIL ON THE MUTUAL SEPARATION OF THE LUKERG RENEW JV

Vienna, 13.01.2015 – At the end of December, Wolf Theiss successfully advised on the closing of the mutual separation of LUKERG Renew, a 50-50 joint...

Client Alerts / Newsletters

Newssquare  EUROPEAN COMMISSION ADOPTS PACKAGE OF MEASURES FOR THE RECOVERY OF THE CAPITAL MARKETS

On 24 July 2020, the European Commission decided on a package of measures for the recovery of the capital markets.

With respect to the Prospectus...

Newssquare  CJEU Invalidates EU-US Privacy Shield Framework and introduces further Restrictions on data transfers to non-EU countries

On 16 July 2020, the Court of Justice of the European Union (CJEU) issued a long-awaited decision in a dispute between Facebook Ireland, the Irish...

Newssquare  New EU regs on e-commerce likely to bolster transparency and innovation (are the critics wrong?)

Although some observers have criticized the EU's new regulations on e-commerce for being too soft on platforms of online intermediation services and...

Newssquare  QUESTIONS STILL REMAIN FOR UK INSURANCE UNDERTAKINGS IN BULGARIA POST-BREXIT

In the increasingly likely event of a no-deal Brexit, many questions remain for UK insurance undertakings in Bulgaria. Apart from regulatory treatment...

Newssquare  LEGAL AND DIGITAL CHANGE IN THE BULGARIAN INSURANCE INDUSTRY RESULTING FROM COVID-19

The Bulgarian and European insurance industries are experiencing uncertain times amid the effects of the lockdown imposed by national governments in...

Newssquare  COVID-19 AND RECAPITALISATION STATE AID: PUBLIC SUPPORT FOR COMPANIES IN THE FORM OF EQUITY OR HYBRID CAPITAL INSTRUMENTS

On 19 March 2020, the European Commission ("Commission") adopted a new Temporary Framework for EU State aid. With the adoption of the Temporary...

Newssquare  LESSONS LEARNED: ACQUIRING PROTECTIVE FACE MASKS IN THE COURSE OF A PANDEMIC

In the midst of the current Covid-19 crisis, there is an unprecedented worldwide demand for protective face masks. Despite various efforts by the EU...

Newssquare  COVID-19: IS STATE AID AVAILABLE FOR EMPLOYERS IN TROUBLE?

Welcome to this special Client Alert from the Wolf Theiss Employment team, in which we look at the availability of state aid by country for employers...

Newssquare  COVID-19 - Financial Measures Designed to Support Companies in Bulgaria

As of 13 March 2020, the Bulgarian Parliament enacted the State of Emergency Act and declared a state of national emergency, initially set to last a...

Newssquare  How to get Real Estate Transactions done if you are stuck at home or abroad - A Survey of Countries in CEE/SEE

Welcome to this special Client Alert of the Wolf Theiss Real Estate team, in which we address the impact of the Coronavirus outbreak on how to conduct...

Newssquare  Dispute Resolution Insider Special Edition: Covid-19

Welcome to this special edition of the DRInsider, the regularly published Newsletter of the Wolf Theiss Disputes Group, in which we provide an...

Newssquare  COVID-19 AND STATE AID

In situations such as the current COVID-19 pandemic, governments are pledging to support businesses which suffer from the public health measures aimed...

Newssquare  COVID-19 WILL CAST A LONG SHADOW ON EU MEDICAL DEVICE REGULATION

Healthcare stakeholders are currently coping with incredible challenges in the fight against the corona virus (COVID-19). In response to this...

Newssquare  NAVIGATING JUDICIAL AND ARBITRAL PROCEEDINGS UNDER COVID-19 EMERGENCY LEGISLATION IN BULGARIA: What you need to know

Via the recently adopted "State of Emergency Act , the Bulgarian Parliament has extended the emergency measures and actions to cover some judicial and...

Newssquare  BULGARIA AMENDS TAX AND FINANCIAL REPORTING DEADLINES AMID STATE OF EMERGENCY

On 13 March 2020, the Bulgarian National Assembly declared a State of National Emergency in Bulgaria for a period of one month (ending on 13 April...

Newssquare  IMPACTS OF COVID-19: EU EXPORT CONTROL ON PERSONAL PROTECTIVE EQUIPMENT

In order to prevent a critical situation arising due to a shortage of essential products, or to remedy such a situation, the Commission, acting at the...

Newssquare  COVID -19: NEW CRISIS MEASURES FOR EMPLOYERS IN BULGARIA

On 13 March 2020, the Bulgarian National Assembly declared a state of emergency in the country due to the coronavirus outbreak and recommended a...

Newssquare  FORCE MAJEURE AND THE IMPACT OF COVID-19 MEASURES ON BUSINESS IN BULGARIA

Following the swift spread of the coronavirus in Europe and the first cases in Bulgaria, on 13 March 2020 the Bulgarian National Assembly declared a...

Newssquare  M&A in times of Covid-19 – Watch out for new developments

We expect that the world of M&A will look quite different in the coming weeks. Will M&A die down completely? Probably not, even though there might be...

Newssquare  STANDSTILL MEASURES IN BULGARIA OVER CONSEQUENCES DUE TO PAYMENT DEFAULT

The Bulgarian parliament introduced a standstill period concerning the monetary and non-monetary consequences which arise from payment default under...

Newssquare  CORONAVIRUS AND THE WORKPLACE: EMPLOYERS' QUESTIONS AND THE LAW

Our lawyers from 13 different jurisdictions have shared legal insights and best practices for employers for both prevention, potential and confirmed...

Newssquare  THE CLEARING AND SETTLEMENT OF CARD-BASED PAYMENTS THAT ARE LINKED TO BULGARIA

Bulgaria has amended its rules related to the clearing and settlement of card-based payments that are linked to the country. As of 15 August 2020,...

Newssquare  NEW EXIT TAX RULES INTRODUCED IN BULGARIA

Bulgaria has introduced changes to its corporate income tax rules that extend the scope of taxable cross-border intra-company transfers of assets and...

Newssquare  EUROPEAN DATA PROTECTION DAY - OUTLOOK FOR 2020

Today is European Data Protection Day, and businesses are facing more challenges than ever ensuring compliance with various standards. 2020 promises...

Newssquare  Bulgarian Gas Market – Gas Release Program

Following the amendments to the Bulgarian Energy Act aiming to ensure completion of the gas market liberalization and enhance liquidity, on 15 October...

Newssquare  Bulgarian Energy Law Amendments Introduce Domestic Natural Gas Exchange

In an important step towards further liberalization of its natural gas market, Bulgaria recently published important amendments to its Energy Act,...

Newssquare  Tax Newsletter - Austria 3/2019

In this issue of our International Tax Newsletter, we have brought together the most important developments in tax law in the CEE/SEE region. This...

Newssquare  Bulgaria: Fines in Millions for Personal Data Breaches

On 29 August 2019 the Bulgarian Commission for Personal Data Protection ("CPDP") announced first significant fines under the GDPR (Regulation (EU)...

Newssquare  Changes to the Bulgarian Transfer Pricing Documentation Rules

Amendments to the Bulgarian tax law addressing the introduction of mandatory transfer pricing documentation for transactions with related parties have...

Newssquare  Cartel damages claims: European Commission Guidelines to estimate the passing-on of Harm caused by Cartels

The number of cartel damages claims before national civil courts in Europe has dramatically increased over recent years. The Damages Directive...

Newssquare  Tax Newsletter - Austria 2/2019

We hope you are curious to read the next issue of our International Tax Newsletter. The second edition this year covers the following topics from the...

Newssquare  Bulgaria: Further Liberalisation on the Electricity Market at Production Level (Update)

The Parliament adopted a new Bill amending the Energy Act introducing a number of measures to further integrate RES Generation into the liberalised...

Newssquare  Deadlines approaching under the new Persons with Disabilities Act

The new Persons with Disabilities Act (PDA) aims to enhance conditions for social and labour integration of people with disabilities in Bulgaria and...

Newssquare  Brexit - Amendments to the Bulgarian Immigration Law

As part of the Bulgarian government’s measures to prepare for Brexit, a Bill for amendment to the Foreigners in the Republic of Bulgaria Act ("the...

Newssquare  Bulgaria - Further liberalisation of the electricity market at production level

New draft bill amending the Energy Act introduces a number of measures to further integrate RES Generation into the liberalised market and abolish...

Newssquare  TAX NEWSLETTER - AUSTRIA 1/2019

We hope you are curious to read the next issue of our International Tax Newsletter. The first edition this year covers the following topics from the...

Newssquare  Bulgaria: The president vetoes local law implementing the GDPR

After extensive public consultations and parliamentary procedures, on 24 January 2019 the law implementing Regulation (EU) 2016/679 on the protection...

Newssquare  Bulgaria: Government to launch concession procedures for major Transport Infrastructure Projects

The Bulgarian Council of Ministers adopts an amitious action plan for State Concessions 2019-2020, providing the launch of tenders for major ports and...

Newssquare  New Interpretative Judgment of the Bulgarian Supreme Court of Cassation on Insolvency Matters

On 03 December 2018, the Bulgarian Supreme Court of Cassation ("SCC") published an interpretative judgement under case No. 1/2017 (the "Judgment"),...

Newssquare  Bulgaria to implement the EU Trade Secrets Directive

Substantive protection and enhanced procedural framework covering goods and services, business need to implement trade secrets strategies, including...

Newssquare  TAX NEWSLETTER - AUSTRIA 4/2018

We hope you enjoyed the holidays and are now curious to read the next issue of our International Tax Newsletter. In this edition, we have included...

Newssquare  AML in Bulgaria: New Deadlines

On 8th of January 2019 the Rules for Implementation of the Anti-Money Laundering Act (in Bulgarian: Правилник за прилагане на Закона за мерките срещу...

Newssquare  TAX NEWSLETTER - AUSTRIA 3/2018

We hope you enjoyed the summer months and are now curious to read the next issue of our International Tax Newsletter. The third edition covers the...

Newssquare  Real Estate & Construction Insider

The newsletter covers important developments in 13 jurisdictions in the CEE/SEE region, namely:

 

Albania, Austria, Bosnia & Herzegovina, Bulgaria,...

Newssquare  Wolf Theiss Competition & Antitrust Insider

Welcome to the second edition of the Wolf Theiss Competition and Antitrust Practice Group Newsletter

 

We are pleased to introduce to you the second...

Newssquare  Resale Price Maintenance in the Digital Age

European commission issues its first resale price maintenance decisions in over a decade fining four consumer electronics manufacturers for fixing...

Newssquare  Bulgarian Public Procurement Law Changes - Will the Procurement Procedures be Fastforwarded?

A new approach to speed-up appealing procedures and prevent bad faith appeals has been proposed by the Bulgarian government and adopted by the...

Newssquare  Bulgaria – Electronic Communication and Electronic Files now Available Option for Employers

As of May 2018 the new Ordinance on the Rules and Requirements for Creation and Storage of Electronic Documents at the Employee’s File [1] (the...

Newssquare  RES/COGEN Producers forced to the free market - amendments to the Bulgarian Energy Act and the Renewables Act repeal the RES and CO-Generation Support Schemes

On 27 March 2018 the Bulgarian Parliament published a Bill for amendment and supplementation of the Energy Act ("EA") and the Act on Energy from...

Newssquare  Wolf Theiss Competition & Antitrust Insider

Welcome to the First Edition of the Quarterly Newsletter of the Wolf Theiss Competition and Antitrust Practice Group.

 

We are pleased to introduce...

Newssquare  Bulgaria – Competition Protection Commission Recommends Amendments of the Energy Act Concerning the Heating Sector

On 8 February 2018, the Bulgarian Competition Protection Commission ("CPC") issued a Decision in a Competition Advocacy proceeding initiated in 2017...

Newssquare  Bulgaria Joins The EU 'AMLD IV Implementation' Club

Yesterday, the Bulgarian Parliament adopted the Anti-Money Laundering Act (in Bulgarian: Закон за мерките срещу изпирането на пари). The Act...

Newssquare  Bulgaria - Energy Regulator's Decision Adverse to Wind Res Producers Repealed by Court

On February 23 2018, the Administrative Court–City of Sofia ("ACCS") rendered a Judgment repealing two chapters of Decision P-1/31.07.2015 ("Decision...

Newssquare  Bulgarian Competition Protection Commission Launches A Sector Inquiry Into The Banking Sector

On 7 March 2018 the Bulgarian Competition Protection Commission ("CPC") announced a sector inquiry into the banking sector in Bulgaria covering the...

Newssquare  Bulgaria – Amendments To The Energy Act In Relation To REMIT To Be Reviewed By The Competition Protection Commission

On 07 February 2018, the Bulgarian Competition Protection Commission ("CPC") initiated Competition Advocacy proceedings in relation to the recently...

Newssquare  Wolf Theiss Employment Spotlight – January 2018

May employers in Serbia access their staff's e-mails and what happens if employees in Romania record conversations with their managers or HR...

Newssquare  Bulgaria: Recent Employment Law Changes Restrict M&A Transactions for Bad Employers

Protection of employees which was given strong support by Bulgarian Parliament led to difficulties in closing M&A transactions

 

Newssquare  Bulgarian Competition Watchdog Launches a Sector Inquiry into Electricity Markets

On 22 January 2018 the Bulgarian Competition Protection Commission ("CPC") announced that it opened a sector inquiry into the electricity markets in...

Newssquare  New Rules For Summarized Calculation Of Working Time In Bulgaria

On 1 January 2018 important amendments to the Ordinance on working time, breaks and holidays (the 'Ordinance') concerning the summarized calculation...

Newssquare  Bulgaria: Private Damages Directive Implemented

On 3 January 2018, a new Law for Amendment and Supplementation ("New Law") of the Competition Protection Act ("CPA") was published in the Bulgarian...

Newssquare  New Court Decision Confirms that Enterprise Pledges under Bulgarian Law Remain an Efficient Tool for Lenders

In its decision of 3 January 2018, the Sofia City Court followed Wolf Theiss' argumentation and confirmed that the privilege of first ranking...

Newssquare  Dispute Resolution Insider - Ninth Edition

Welcome to the 2nd Anniversary Edition of the DRInsider; the quarterly Newsletter of the Wolf Theiss Dispute Resolution Practice Group:

Newssquare  Wolf Theiss Employment Spotlight - December 2017

Recall from annual leave in Poland & background checks in Slovenia - do you know the legal framework behind it? No? Read the latest edition of our...

Newssquare  Wolf Theiss Employment Spotlight - November 2017

Using fingerprints for recording attendance at work in Bosnia & Herzegovina & working from home at the employee's request in Croatia. These are the...

Newssquare  Wolf Theiss Employment Spotlight - October 2017

Did you know that there are limits to an employee's free speech in Hungary or would you know what's the limit to daily work hours in Austria. Read the...

Newssquare  Dispute Resolution Insider - sixth edition

Welcome to the 6th edition of the DRInsider, the quarterly Newsletter of the Wolf Theiss Dispute Resolution Practice Group. We are happy to once again...

Wolf Theiss Guides

Newssquare  THE WOLF THEISS GUIDE TO: Generating Electricity from Renewable Sources in Central, Eastern & Southeastern Europe

Wolf Theiss is pleased to publish this redesigned, eighth (8th) edition of The Wolf Theiss Guide to: Generating Electricity from Renewable Sources in...

Newssquare  M&A Spotlight: CEE / Wolf Theiss Corporate Monitor FY 2019

Newssquare  The Wolf Theiss Guide to: Corporate Investigations in Central, Eastern and Southeastern Europe

The 2019 Wolf Theiss Guide to: Corporate Investigations in Central, Eastern and Southeastern Europe is intended to be a resource tool highlighting the...

Newssquare  GDPR one year later

One year has passed since the most important reform of European data protection laws in the last 25 years was implemented.

Newssquare  M&A Spotlight: CEE / Wolf Theiss Corporate Monitor FY 2018

150 senior-level executives were asked to share their experiences and outlook on M&A in the CEE/SEE region and their expectations for the future....

Newssquare  The Wolf Theiss Guide to: Dispute Resolution in Central, Eastern & Southeastern Europe

This 2018 Wolf Theiss Guide to Dispute Resolution in Central, Eastern & Southeastern Europe is intended as a practical guide to the general principles...

Newssquare  The Wolf Theiss Guide to: International Arbitration in Central, Eastern & Southeastern Europe

This 2018 Wolf Theiss Guide to International Arbitration in Central, Eastern & Southeastern Europe is intended as a practical guide to the general...

Newssquare  The Wolf Theiss Guide to: Handling Business Crime Cases in Central, Eastern & Southeastern Europe

This 2018 Wolf Theiss Guide to Handling Business Crime Cases in Central, Eastern & Southeastern Europe is intended as a practical guide to the general...

Newssquare  The Wolf Theiss Guide To: Licensing of Electricity and Gas Wholesale Activities in Central, Eastern & Southeastern Europe

Wolf Theiss is pleased to publish the second edition (2018) of "The Wolf Theiss Guide To: Licensing of Electricity and Gas Wholesale Activities in...

Newssquare  CURRENT STATUS OF AMLD 4 IN CEE

The EU 4th Anti-Money Laundering Directive (AMLD 4) was published in the Official Journal of the European Union on 5 July 2015 and should have been...

Newssquare  M&A Spotlight: CEE / Wolf Theiss Corporate Monitor FY 2017

Welcome to the newest edition of the WOLF THEISS Corporate Monitor’s M&A Spotlight on Central and Eastern Europe ("CEE"), which we are proud to...

Newssquare  Energy Efficiency in Central, Eastern & Southeastern Europe

Wolf Theiss is pleased to publish the first edition (2017) of "The Wolf Theiss Guide to: Energy Efficiency in Central, Eastern & Southeastern Europe"...

Newssquare  M&A Spotlight: CEE / Wolf Theiss Corporate Monitor FY 2016

Welcome to the newest edition of the WOLF THEISS Corporate Monitor’s M&A Spotlight on Central and Eastern Europe ("CEE"), which we are proud to...

Newssquare  Restructuring Loans and Enforcement of Security

The most important lessons learned since the collapse of Lehman Brothers are that no bank is too big to fail and that national banking systems are...

Newssquare  Generating Electricity from Renewable Sources in Central, Eastern & Southeastern Europe

Wolf Theiss is proud to announce the release of the seventh edition of its flagship publication "The Wolf Theiss Guide to Generating Electricity from...

Newssquare  Waste to Energy in Central, Eastern & Southeastern Europe

Wolf Theiss is pleased to publish the first edition (2016) of "The Wolf Theiss Waste to Energy Guide in Central, Eastern and Southeastern Europe" (the...

Newssquare  INSIDE CORPORATE - Corporate Monitor FY 2015

Together with Mergermarket, we have analysed the main drivers and challenges for corporate transactions in 2016 and beyond in each of the countries...

Newssquare  The Relevance of EMIR for Non-Financial Actors

doing OTC business in non-regulated markets with volumes of more than EUR 1-3 billion gross notional value ▪ Implications of Regulation 648/2012 on...

Newssquare  Implementation of the Directive 2011/61/EU on Alternative Investment Fund Managers (“AIFMD”) in selected CEE/SEE countries

Implementation of the Directive 2011/61/EU on Alternative Investment Fund Managers (“AIFMD”) in selected CEE/SEE countries. AUSTRIA - BULGARIA -...

Newssquare  WOLF THEISS Corporate Monitor FY 2014

INSIDE CORPORATE is a study of M&A activity - alongside macroeconomic and legal developments - in Central, Eastern and South Eastern Europe (CEE and...

Newssquare  WOLF THEISS Corporate Monitor HY/2 2013

We are delighted to announce that the second edition of the INSIDE CORPORATE – WOLF THEISS CORPORATE MONITOR report was published on February 6, 2014...

Newssquare  Public Debt Management in Central, Eastern & Southeastern Europe

Sovereign bond issues, derivatives and finance transactions with public bodies. In the aftermath of the Financial Crisis of 2009, the issuance of...

Newssquare  WOLF THEISS Corporate Monitor HY 1 / 2013

The Corporate Monitor will be released semi-annually and summarises key developments in “our” 13 jurisdictions. In cooperation with CEEMEA, we shed...

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