As a corporate and company lawyers (acquisitions lawyers) in Bulgaria, our work is connected with some company transformations. The process of mergers and acquisitions in Bulgaria is regulated by the Commerce Act. There are specific rules for public companies in Bulgaria specified in the Bulgarian Public Offerings Securities Act (POSA). Takeover bids for public companies are regulated under special conditions. As corporate and company lawyers in Bulgaria, we follow the legal procedure.
The main goal for company mergers and acquisitions is creating a consolidated company that benefits from the synergy of the merging companies.
Differences related to the type of company
The foreign Investors in Bulgaria need some legal advices from corporate and company lawyers when they plan, acquire or take over legal companies in Bulgaria. They must know that there are different rules applying to specific types of companies in Bulgaria. Some company mergers and acquisitions differ for joint-stock and limited liability companies. The main differences apply to the documents necessary to be prepared for merger or acquisition, and approval with registration required. Only joint-stock companies are eligible to elect to be public or non-public tradable companies. We offer you mergers and acquisitions lawyers. You will save money and precious time. Our experience lawyers make us proud and convinced that we are one of the best law firm in Bulgaria.
Necessary documents. Law Firm in Sofia, Plovdiv & Bansko
The Commerce Act stipulates that certain types of documents are compulsory for mergers and acquisitions in Bulgaria. Mergers and demergers require a plan for transformation, agreements, management reports, audit reports and certificates of good standing.
To transfer shares from limited liability companies in Bulgaria, a share purchase agreement and new Articles of Association are required. Transfers of shares from a joint-stock company require fewer documents in general.
As corporate & company lawyers in Bulgaria, we inform our clients that mergers and acquisitions in our country require approximately 25 business days. This depends on the type of company and the approvals and regulations required. Bulgarian laws are investor-friendly and the provisions applicable to Bulgarian investors apply to foreign investors as well.
You need legal law advices, if you are involved as a party in mergers or acquisitions. Our legal team can provide you with all legal assistance necessary. For more information, please contact us.
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Working as professional tax lawyers in Bulgaria, many clients asked us how much is the dividend tax rate in Bulgaria. We have a great expirience as tax lawyers in Bulgaria so we do inform our clients that dividends are payments made by a corporate legal entity to its shareholders, which are usually distribution of profits. A corporation may choose to reinvest either the profit or any surplus, to use retained earnings or distribute the profit to shareholders. Dividends are payable in cash or as new shares, i.e. treasury shares.
List of compensations considered as an income in Bulgaria
Divident tax in Bulgaria
Any type of compensation, financial or in kind, is considered as an income and so it is a subject to a personal income tax domestically. Dividends remain within the list of sources of a taxable income. Other items on this list can be: salary, bonuses, income from interest, income from other economic activities, capital gains or rental income. However, reinvested dividends are tax-exempt in Bulgaria.
Corporate Income Tax Act governs taxation of dividends
As tax lawyers in Bulgaria, we advise our clients that according to the Corporate Income Tax Act in Bulgaria, withholding tax shall be payable as regards to dividends at a rate of 5%, if it is distributed to private individuals. These include non-residents, if the residents are citizens of an EU or EEA member state. In case of Special Purpose Investment Vehicles or if foreign legal entities outside an EU/EEA member state foreign entities distribute dividends, then dividends distributed to legal entities of residents of Bulgaria shall not be included in these legal entities’ taxable income. For capital gains deriving from holding shares in subsidiaries, the the flat corporate income tax shall apply at a rate of 10%, or at the level of a Bulgarian company.
The tax lawyers in Bulgaria
In Bulgaria withholding tax may not be necessary to be paid, if shareholders in the Bulgarian legal companies are tax residents of an EU country and they are not residents of a third state on the grounds of a double tax treaty. Moreover, if the shareholders are payers of corporate income tax in their resident state and they are not entitled to any tax exemptions, then they are not a subject to withholding tax. It also applies to non-residents that hold at least 15 % (percent) of the shares in the Bulgarian company that distributes the dividends for at least two years.
Tax responsibilities of the recipient?
In our legal praxis as tax lawyers in Bulgaria, we see that after receiving a dividend payment from a Bulgarian-registered legal entity, withholding tax is paid, so the recipient shall not have to report on it and shall not owe any personal income tax on that amount. Should the dividends be received from a non-Bulgarian legal entity, however, it shall be included in the tax return and shall be taxable as a personal income tax. If you are interested in getting more information for divident taxes for your investment in Bulgaria, our tax lawyers will be happy to provide you with all information you require and will assist you in all legal procedures. Please call us on + 359 2 858 10 25, or send us an e-mail to info@lawyer-bulgaria.bg.
If the people need a legal help for collecting some debts, they are calling the Litigation lawyer in Bulgaria.
The litigation procedures in Bulgaria are very interesting and conservative
Thsi process could continue for different periods, depending on the complexity of every legal case.
A litigation lawyer is a solicitor or barrister who specializes in contentious matters and lawsuits.
The litigation lawyer represents his clients at all stages of a lawsuit from get up for trial, briefing counsel and is responsible for carrying the lawsuit through the court process.
Our responsibily to the client
They all are ready to assist you and support you legally, if you need a legal advice for your issue in Bulgaria. Litigation Lawyer in Bulgaria
The most important responsibilities of the Bulgaria litigation lawyers are to prepare all legal documents.
They are necessary in court procedures in Bulgaria, needed for the defense or the assistance, giving legal advices and representing the clients & defending clients before the authorities in the court & public procedures in Bulgaria.
Our Bulgarian litigation lawyers will support you by preparation of legal documents.
Sometimes we need and require additional information from the clients or from the authorities.
That takes more time, especially when we need to prepare your defence or statement for the Bulgarian courts. Litigation Lawyer in Bulgaria
During the litigation procedures before the Bulgarian court we have an access to all legal acts and documents shown.
Additionally we could investigate the case for additional information regarding the cases.
We can also ask for copies and samples of documents, as well as receive information of high priority from the Bulgarian authorities.
In regular cases, our Bulgarian litigation lawyers are owed remuneration for their work determined on hourly basis according to written or mutual contracts.
The payment of the Bulgarian litigation lawyers is in accordance with the Ordinance of the Supreme Attorney Council.
Exceptions in the litigation process…..
Before we start, there are some technical limitations for a regular litigation lawyer in Bulgaria.
A litigation lawyer is a solicitor or barrister who specializes in contentious matters and lawsuits.
Some individuals cannot be litigation lawyers in Bulgaria:
people convicted in crimes;
lawyers who had lost their attorney rights of practice;
traders or managers of a trade company;
governmental people & public office employees or the individuals who has declared the insolvency.
If you need our support or are looking for a litigation lawyer in Bulgaria, do not hesitate to contact us immediately
Our contacts are + 359 897 90 43 91, or send us an e-mail to info@lawyer-bulgaria.bg.
What does a litigation lawyer do?
The work of a litigation lawyer focuses exclusively on lawsuits to try and win the case. Most of the time, litigation lawyers handle a lawsuit in court, but ideally most clients try to mediate or settle a lawsuit out of court to avoid high costs of litigation. There are many different types of litigation including civil, tax, commercial, probate, financial services/regulatory, criminal, matrimonial and divorce, construction, intellectual property, insolvency and bankruptcy lawyers, personal injury, shipping and insurance litigation. Some large multinational companies or financial institutions even have their own in-house litigation specialist.
What is the litigation process ?
A litigation lawyers prepares for trial application, drafts affidavits from expert witnesses, provides advisory opinion and represents their clients in court
What every client could expect from a litigation lawyer ?
A litigation lawyer needs to prepare the get up for trial before the law suit is filed and this includes research, discovery of documents, gathering substantial evidence, advising the client if the matter should go to trial or should be settled before court. During the pre-trial period, after the suit has been filed, a litigation lawyer will file required pleadings, gather substantial evidence for trial, take depositions from expert witnesses and file and argue interlocutory motions.
What to expect on the job
Litigation is often very detail oriented, and a litigation lawyer can sometimes find himself having to file suits against multiple counter-parties for a single case. When working on large-scale lawsuits, a litigation lawyer may often brief external counsel (sometimes even QC – Queen’s Counsel) and also have a team of junior lawyers to help with more remedial litigation tasks such as collecting of evidence, discovery of documents and other matters. Smaller suits are sometimes settled out of court to help the client save some money.
What we offer to the clients ?
Litigation is sometimes a long drawn out process, as there are many legal procedures that need to be followed before a case can be settled or taken to trial and sometimes these decisions go on appeal for re-trial as well. The bureaucracy of court systems and regulations and their corresponding waiting times further extend the litigation process, as all bases need to be covered. Litigation is sometimes a long and complicated procedure, but for a patient and passionate lawyer, the reward of winning a case merits the effort.
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