Eu Citizenship By Investment In Bulgaria
Power Of Attorney In Bulgaria
Bulgaria’sCriminal Code criminalizesactive and passive bribery, extortion, trading in influence, money laundering, abuse of officеandembezzlement. The code also prohibits bribery of foreign officials and facilitation payments.There is no formal threshold for the value of gifts before they are considered to be bribes . Penalties for corruption offenses range from one to 15 years imprisonment and penalties staying permit turkey up to EUR 10,000 as well as confiscation of any benefits gained from the act of corruption . There is no corporate liability for corruption offenses; only individuals can be prosecuted . Money laundering is addressed in the Measures against Money Laundering Act. The Civil Servants Act and the Law on Preventing and Detecting Conflicts of Interest regulate conflicts of interest in the public service.
Value added tax, excise duties, corporate and personal income tax are national, whereas real estate, inheritance, and vehicle taxes are levied by local authorities. Strong economic performance in the early 2000s reduced government debt from 79.6% in 1998 to 14.1% in 2008. It has since increased to 28.7% of GDP by 2016, but remains the third lowest in the EU. Delchev & Partners is a prime, full service, commercial law firm with offices in Sofia and Plovdiv, Bulgaria. Our international law office is specialised in litigation procedures and civil process trials in Bulgaria.
Riot Police And Protesters Clash In Bulgaria As Corruption Crisis Deepens
Have a look at the most common mistakes when buying a property in Bulgaria. Representatives of foreign persons under Art. 24 of the Law on Investment Promotion. Applications for entry in the Commercial Register are based on application forms and can be submitted both in paper and electronically, according to the terms and conditions in the Law on Electronic Documents and Electronic Signatures.
- Legal entities in which the persons under sub-paragraphs 1 and 2 are managers or may impose decisions or hinder decision making.
- In this sense, the religious marriage, which is only prevalent in our country, discriminates against otherwise equal citizens by law on the basis of religion.
- He lives in Bristol, but tries to visit inspiring European cities frequently.
- The Title Deed also contains information if there are any pending Bulgarian Mortgage Law issues,Bank Credit Law issues, any pledges on the property or if any other party has interests in that real estate.
In exchange for a safe, state-guaranteed and fully refundable investment of approximately 512,000 EUR, applicants from all nationalities can obtain Bulgarian citizenship and passport after five years. The investor is not required to live and work in Bulgaria, or to be fluent in Bulgaria. The primary motivation for launching our Bulgarian Citizenship page is to facilitate the efforts of the Bulgarian government to handle the negative impact on the demographic crisis in Bulgaria. Turkish work permit This aim can be achieved by welcoming foreign nationals of Bulgarian origin and attracting highly-qualified and wealthy foreign nationals to obtain Bulgarian citizenship and relocate to Bulgaria. The provisions of the Act are currently applied in practice with ups and downs as some issues, regarding the Commercial register shall be clarified and solved /such as different requirements of each administrator, especially with regards to any new provisions in the Commerce Act/.
The ruling bodies of a JSC are the General meetings of shareholders to decide the most important issues. The other bodies depend on the system of management, which has been chosen. As there are usually a greater number of shareholders the law does not require unanimity for any decisions made by the General meeting. The General meeting is not entitled to make decision for acquisition or disposing of real estates as this issue is in the scope of the Board of directors’ powers. The shareholders are not liable for the Company’s debts as the company and its shareholders are considered for company law purposes as separate legal persons. It is to be also noted that the resolutions of the EU in the area of corporate law are in force in Bulgaria, as its member state, as well as several commercial directives, that are implemented in the corporate legislation of Bulgaria.
Due to the fact that the arbitral award is related to and derives from the arbitration agreement, res judicata of the award has the same subjective scope as that of the agreement, i.e. it is binding on the parties only, not on third parties. In addition to the above-mentioned (in question 8.1) peculiarities of the rules on the taking of evidence, the ICAA stipulates that during the proceedings the tribunal may examine witnesses of facts, appoint expert witnesses or inspect documents, goods or other evidence. It may summon the expert witness upon request by any of the parties or upon its own initiative, and oblige the expert witness after submitting his/her report to participate in the hearing in order to give clarifications. The current legislation does not provide any specific requirements regarding this issue.
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So for this it is important what was your marital status by the time when you have purchased the property. It will also be our responsibility to set an appointment with a local notary public acting in for the area of location of your property. You can also authorize us to appear before the Notary Public on your behalf and save yourself a trip to Bulgaria. Obtaining the requisite documents for the sale of your property in Bulgaria.
Any use or reproduction requires the prior consent of the law office Ruskov & Collegues. The company lawyers in Bulgaria are the specialist for dissolving or liquidating a company in Bulgaria which may also be mandatory – may be the company experiences bankruptcy procedures, or a decision may be adopted by the Bulgarian court. We, as company lawyers in Bulgaria, do work also from the whole legal process of setting up a company in Bulgaria and including it in the Commercial Act of the Republic of Bulgaria. Completing of the winding up process requires undertaking certain actions and the owners may aski for the services of a law office in Bulgaria to assist with the formalities.
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However, the leaves and flowers of industrial cannabis are still considered a source of marijuana, leading to a legal misconception. Although CBD cannot be produced in Bulgaria, CBD and products containing CBD can be imported into the country and freely sold. This gives rise to numerous complications for farmers and processors, and requires reconsideration of the existing legislative framework. Cannabis is an annual flowering herb belonging to a genus of plants that in some cases can be used to obtain marijuana. Cannabinoids are the chemical substances in the herb that influence humans. One of these cannabinoids – tetrahydrocannabinol – is the psychoactive substance of cannabis.
Employers shall have to further determine a retention period for the personal data collected during the recruitment process, which however may not be longer than six months, unless the candidate consented to a longer period. Through the years, Yosifova, Ivanov & Petrov Law Firm gained the trust of dozens of corporate clients, foreign and local companies, and individual clients as well. The Bulgarian lawyers who work in the office have earned the trust of clients, official authorities, and colleagues of ours worldwide. Our clients and the parties we get in contact with, highly appreciate our professionalism, thoroughness and personal attitude to each case we handle here in our law firm. The law office of Nikolay Kolishovski is fully dedicated to providing exemplary legal services in a very cost-effective manner.
Groups of undertakings are permitted to appoint a single data protection officer with responsibility for multiple legal entities (Article 37), provided that the data protection officer is easily accessible from each establishment . There are no EU-wide systems of registration or notification and Recital 89 of the GDPR seeks to prohibit indiscriminate general notification obligations. However, Member States may impose notification obligations for specific activities . The requirement to consult the supervisory authority in certain cases following a data protection impact assessment constitutes a notification requirement. In addition, each controller or processor must communicate the details of its data protection officer to its supervisory authority (Article 37). Enforcement of the GDPR is the prerogative of data protection regulators, known as supervisory authorities .
Under the new measures, the taxpayer can treat as deductible items a certain portion of interest expenses arising under a finance lease or a bank loan that is guaranteed by the taxpayer and a related party. The tax deductible amount that is not subject to the thin capitalization rules is determined based on the ratio between the taxpayer’s own collateral and the total amount of the finance lease or loan. When the ratio is greater than one, the entire amount of the interest expenses arising under the respective finance lease or loan is treated as tax deductible in the year of accrual. The income tax legislation introduces rules for adjustments of the financial result for tax purposes and for correction of the asset values for tax purposes depending on whether the transferred assets are disposed of and/or written off or not. These rules are related to the new provisions for the determination of the tax value of the assets at the time of their transfer. Bulgarian nationals and permanent and long-term residents, as well as their family members, who present only one of the documents – either a certificate of vaccination or recovery or a negative PCR test, will also be required to complete a mandatory 10-day quarantine.