Many corporate clients comes to our office with the legal inquiry to support for Recovery of Unpaid Invoices.
Recovering unpaid invoices can be a frustrating and time-consuming affair for any business, especially when dealing with international clients.
At our firm, we recognize the critical importance of swiftly and effectively pursuing outstanding debts to maintain your cash flow and business stability.
We have tailored our Debt Recovery Service specifically to meet the needs of our commercial clients in Bulgaria, ensuring a vigorous yet cost-effective approach to debt collection.
Why choose our debt Recovery of Unpaid Invoices service ?
Our Debt Recovery Service is not an automated system;
it’s a comprehensive solution operated by a specialist team of solicitors with extensive experience in Bulgarian law.
We understand the unique challenges businesses face in debt recovery.
Expertise: Our team comprises highly skilled solicitors who are well-versed in Bulgarian debt recovery laws and practices.
Efficiency: We aim to recover debts of any size quickly, minimizing the impact on your business operations.
Cost-Effective: We provide transparent and competitive pricing to ensure that the cost of recovery does not outweigh the benefits.
Our proven debt recovery process
The legal debt recovery process is streamlined to maximize results while minimizing the time and effort required from your side.
1. Initial Step – Suprizing the debtor with freezing his assets
The process begins with the claim in the court.
The urgency and seriousness conveyed in the letter often prompt a quick response from the debtor, leading to the resolution of the debt without the need for further action.
2. The issue of legal proceedings
If the debtor fails to respond to the ‘letter before action’, we proceed by issuing a County Court claim form.
This formal legal action includes claims for the original debt, court fees, costs, and interest.
The initiation of legal proceedings often serves as a significant motivator for debtors to settle their accounts promptly.
3. Interest debt collection
We understand the importance of recovering not just the principal amount but also any interest that is due. Interest can be claimed in several ways:
Statutory Interest: Currently 10% from the due date of the invoice until Judgment.
Contractual Interest: As stipulated in your terms and conditions.
Tailored Solutions for Bulgarian Debt Recovery
We pride ourselves on providing more than just a computerised system.
Our debt recovery service is personalized to meet your specific needs, and we are committed to providing the highest level of client service.
Whether you are dealing with a single large debt or multiple smaller ones, we support you in Bulgaria.
We have the tools and expertise to ensure you recover what is owed to you, with minimum hassle and expense.
How Can We Help You?
If you are facing challenges with unpaid invoices, don’t let them drag on.
Contact us today to discuss how we can assist you in recovering your debts in Bulgaria.
Our team is ready to act swiftly and decisively to protect your interests and improve your cash flow.
Get in Touch Today
Fill out our online form, and we’ll get back to you as soon as possible. Alternatively, speak directly to one of our debt recovery experts by calling
Public relations regarding the management of common parts of buildings under condominium ownership arrangements and rights and obligations of owners, tenants and occupants of individual units or parts thereof, are regulated under the Condominium Ownership Management Act (COMA), (effective as of May 1st, 2009, published in the State Gazette, issue 6, dated January 23rd, 2009, amended in SG, issue 15 dated February 23rd, 2010, amended in SG, issue 8 dated January 25th, 2011, amended in SG, issue 57 of July 26th, 2011).
The special regime of management of the common parts of buildings under condominium ownership arrangements is introduced for buildings in closed residential complexes shall be arranged with a written contract, with notarized signatures, with the investor and the owners of individual units, which are parties thereto. The agreement has to be registered with the Registry Agency on the lot of each individual unit by the investor, and shall be referenced to subsequent purchasers.
Exceptions to the management of the common parts of buildings under condominium ownership arrangements are introduced for buildings, which contain up to three independent units, which are property to more than one owner. In these cases, the provisions of article 30, paragraph 3, article 31, paragraph 1 and article 32 of the Property Act shall apply.
Condominium Management shall cover procedures and shall supervise the use and maintenance of the common areas and compliance with the building internal regulations under condominium ownership arrangement, and the supervision over the fulfilment of the obligations of the owners, users and residents.
Forms of Condominium Management are the General Meeting and/or the Association of Owners.
The management bodies are: the General Meeting and the Managing Board (Manager).
The General Meeting of the Association shall be authorized to make a decision, adopted by a majority of more than 50 percent of the represented shares in the association, to assign the powers of the Management Board (Manager) to non-owner individuals. The contract for authorization shall be executed by a person, authorized by the General Meeting of the Association.
Expenses for the management and maintenance of the common parts under the condominium ownership arrangement will be equally shared by owners, users and residents.
Repair, renovation, reconstruction and rehabilitation of common parts or replacement of common facilities and equipment shall be carried out under the decision of the General Meeting of owners. The General Meeting of the owners or the Association establish and maintain a Repairs and Renovations Fund. Expenses for repairs, renovation, reconstruction and rehabilitation of the common areas, referred to in the respective decision of the General Meeting of owners, shall be distributed among the owners of the individual units, proportionate to the notional shares of the common parts of the building, held by them.
For any issues, not covered by the COMA, the provisions of the Ownership Act will apply.
The list of main obligations to be complied with includes, but shall not be limited to: to not prevent all other owners, operators and occupants from using all common areas of the building; to not cause damage to common areas; to not rent them; to not participate in activities, which cause excessive disturbance and inconvenience to other occupants; to fulfil the decisions of the General Meeting; to make payments for the expenses required; to comply with the sanitary and hygiene standards, et al. A Condominium Log has to be organized, kept and maintained in each building which should contain the relevant information on the property, owners, users, et al. The decisions of the governing bodies, adopted in accordance with the condominium ownership arrangements, shall be absolutely mandatory for all building owners.
Often, property owners who are foreign nationals employ management and maintenance companies to perform all internal organization works for the building, pay bills, collect payments from owners, rent apartments on their behalf, et al. Services of such companies can be easily found through the internet. It is strongly recommended to sign a contract with such a company and follow the advice of your legal counsel.
Selling your house, land or apartment is a very important action, particularly if it is owned by a domestic registered limited liability company in your name.
Our legal department has prepared this article in order to lead you through this procedure which may look like a labyrinth , but in fact is quite easy and straight forward when you know what exactly you need and which step follows next.
Real property agents may try to conceal the tax complications which may arise from selling a real property at a price higher than the price of initial purchase under the Title Deed.
Should the occasion arise, the owner of the property, i.e. the domestic limited liability company owes capital gains tax.
Please take into consideration that the legal aspect of the transaction is the one which will ensure the positive financial outcome of it, by ensuring you are not liable for damages due to making misleading statements in the new Title Deed (drafting a Title Deed is one of the services we offer).
Please also note that you will need to do the following before you initiate the sale:
– ensure the property or the company that owns the property is in good standing (cadastre registration, no outstanding payments for taxes, no encumbrances on the property, et al.)
– getting up to speed on the current real property market situation and any possible Capital Gains tax complications after the sale – get information on fair market values of similar properties in the area in order to correctly determine the going price of your property.
If you own the real property through a company, selling a property entails some accounting costs as well.
– marketing the property – make sure any real estate brokers or agents are marketing the property at the asking price; ensure also that you will only pay the requisite fees after the actual signing of a Title Deed.
Please note that in case you are selling a property through a company, you should require a VAT invoice for any and all fees payable.
The full price for the sale should be listed on the Title deed before signing.
Make sure any and all reservation deposits are transferred to your account and not to the real estate agent account, as there is a risk of the real estate agents acting unfairly and keeping the deposit.
We are happy to prepare the relevant documents and act/negotiate on your behalf to protect your legal and financial interests before real property agents and to guarantee you will receive all amounts payable to you and to ensure you get the full benefit from your sale. Consider hiring us to act on your behalf a good move.
How to find the right buyer for your property is easily the hardest part of the process.
We can help you by examining your documents and help you in listing your property for sale.
After having successfully found a buyer, we will collect information from the buyer about their selected method of funding the transaction (by way of example – a mortgage loan).
A crucial element of our job is to ensure a smooth sale process.
We will act in good faith on your behalf and ensure that you received the deposit and mediate in paying the legal fees for obtaining the requisite documents.
– Obtaining the requisite documents for the sale of your property in Bulgaria. Please be aware that this is a lengthy process – application for documents are filed to the Land Registering Agency, to the Cadastral Agency, the National Revenue Agency, et al. Please also be aware that your prospective buyer (or their lawyer) may require examining the documents before agreeing to go through with the purchase.
– Please be advised of the Cadastral Plan particulars as regards to properties. Your property needs to be registered with the Cadastre Agency and prior to selling your property, you need to obtain a Cadastral Plan and present it to a Notary Public.
This is particularly important for properties you own in Sunny Beach, Bansko, Pamporovo, Kavarna, Sozopol, et al., since it is there that a Cadastral Plan is existing already.
For further details on the Cadastral Plan, please visit our section “Cadastral registration”.
– Effectuating the sale: You have two options at your disposal.
You can go for direct signing of the Title Deed for the sale of a property, or you can do a preliminary contract first, against the receipt of a deposit payment.
Naturally this is the key point of the sale process and we will be happy to assist you in creating both the preliminary agreement and/or the Title Deed for sale, based on your existing documents.
We will have those translated and approved by you prior to signing.
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.
– Post-sale: After you complete the sale and sign the Title Deed, we can provide you with a copy and we can help you deregister it from your file with the Bulgarian Revenue Agency to make sure you are no longer paying local property taxes for that property.
We also offer the service of exchanging the public utility company batch registrations.
List of legal documents, needed for the sale of properties in Bulgaria
The main document proving your ownership is the Notary Deed.
You should have received it when you first bought the property. If you by any chance have lost it it doesn’t mean you have lost your ownership. Contact your agent for assistance to have a notarized copy issued from the notary who has initially signed the deal.
You need additionally the sketch for the property – the sketch is issued by the local technical department in the Municipality where your property is located.
The sketch could be ready in 24 hours. In order to put a request for a sketch you will need a copy of the notary deed.
Once a sketch is issued it is valid for 6 months. After that the whole procedure should be done again!
The next documents, which is nessesery for the sale of property in Bulgaria is a valid Tax Evaluation Document, issued by the Local Tax services Office in the Municipality where your property is located.
If you are selling the property as a phisycal person, you will need to have a document stating your Marital Status.
This document you should supply from your own country and get it translated and legalized in Bulgaria.
If the property has been bought during your marriage you will need a letter of attorney by your spouse for the deal. So for this it is important what was your marital status by the time when you have purchased the property.
One of the documents, which will be needed is a legal certificate of lack of encumbrances– this document states that there are not established real rights in favor of third persons for the property you are selling.
This document is issued by the Registry Service in your Municipality.
When submitting a request you have to provide the notary deed for the property. If the property has land you have to supply a sketch as well.
This document is valid only 24 hours. Some notaries do not request this paper as they are checking it automatically at the day of the deal.
Legal declaration for citizenship and marital status as per article 25. 7 from the Notary Law act.
This document should be filled before the Notary public on the day of the transfering of the ownership over the property.
Legal declaration stating that you don’t owe any taxes to the Republic of Bulgaria.
In case you as an owner will not be present at the deal , make sure that you have an accurate letter of attorney signed and notarized ( apostilled) by you with which you empower a lawyer or someone you trust to sign on your behalf and on your account !
Property is owned by a company
……you need to provide a company decision for the purchase / sale of property If you own the property as a company you will need a written decision of the share holders in the company that you have decided to sell this property which is an asset of the company.
It should be signed by all shareholders and stamped.
By law when providing this paper there is no need all the shareholders to be present at the deal as far as the manager is present but many Notaries will require it!
Please note that in some cases you may need additional papers due to some complicated form of ownership. In each case we advise you to use us for your own security!
We would like to advices you not to forget you passport !
Our law office will represent you and provide guidance in each of the steps listed.
Please contact us if you have any questions or if you need any assistance on the matters detailed herein.
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Termination of participation Ltd and leaving partner – rules and consequences.
The limited liability company (LLC) is one of the most common forms of organization of business. This is due, among other reasons, and has long recognized its dualistichnost – although Ltd. is a capital company it shows some deviations that correspond to the essence of unincorporated enterprises. Examples include the regulation of rights and freedom in which they occur, exercise and termination resemble those partnerships.
Therefore reveal peculiarities and possibilities of termination of membership relations of the partner as the latter is more difficult to be freed of adjacent its involvement than a typical capital company, since the law provides for additional requirements for the sale of its units.
Leaving partner
The departure of a partner is regulated in art. 125, para. 2 of the Commerce ActWhich provides potestativno subjective right partner to terminate its participation in the company. Regardless of the reasons for leaving, his right is transformative, regardless of whether it violated his duties as a partner. Leaving has its practical applicability as a way out of the company’s inability to sell a share. It is exercised by a written statement, the legislature uses the term “notice” that statement needs a receipt, written form of reality. There is time – the partner must notify the company of their intention three months before the termination of his membership. The length of time is governed dispositive and articles of association may provide for another term.
Moment that occurs termination of membership relationship is not explicitly defined in law, but the case law assumes that termination should be considered as occurring ipso facto at the time of expiry of the period as for the adoption of a further resolution of the General Meeting of the company does not exist (so in Decision № 46 of 22.04.2010 of the SCC under item. e., the № 500/2009, II t. o., TC ). This solution meets the potestativniya nature of the right to associate. The entry of termination of membership relationship is warning, but not constitutive effect. Next – the settlement of property relations on the occasion of the termination is a result, but in no case provided for its occurrence. consequences
Termination of shareholder
Termination of membership relationship entails the multiple effects as in practical terms the outgoing partner should first be noted pecuniary consequences that each sadrzhunik leaving (exit) aims to achieve. Exit, in this sense, an opportunity for a partner who could not sell its stake in the company for any reason, however, to indemnify the same while terminate its relationship with the company.
Termination is the former partner transformative effect on the occasion of his relationship with the company – the same one occurs monetary claims he is entitled to receive a cash equivalent, a feature of interest in the company. Art. 125, para. 3 defines how to govern the property consequences – namely, based on the balance sheet at the end of the month in which the termination occurred. Basis for making money is an interest to a partner, the amount of which is determined according to its share capital (Art. 127 CC). It is possible the partner to get something else, but this is a consequence of an addendum instead of giving performance between the shareholder and the company. As a rule, chargeability making departed partner comes to the moment of his departure (the deadline).
A major interest for each partner who wishes to have information about their legal options for monetary satisfaction by participating in an LTD is a provision of Art. 125, para. 3, which determines the timing of the balance sheet that will calculate its claim. Jurisprudence ( Decision № 224 of 10.09.2010 of the SCC under item. E., The № 765/2008, II t. O., TC) Assumes that this statutory provision is mandatory in nature and the partners can not overcome it with any agreement to the contrary, neither provision in the articles companies. Personal companies. Company limited liability). Such an agreement would be void pursuant to Art. 26, para. 1 of CPA. In this sense it appears and void proviso that outgoing partner will be satisfied, as the basis for calculations adopt the annual financial statements of the company.
The balance sheet will determine which assets and liabilities should be taken into account when calculating the monetary value of a share. Pursuant to Art. 125, para. 3 Commerical law raises the question of how exactly to calculate the value of the property, in particular that of tangible assets (FTA). According to the obligatory practice of the SCC value of fixed assets in the form of a share according to art. 125, para.3 Commercial law should be determined by experts in compliance with the provisions of the repealed Law on Accounting, Art. 13 in conjunction. With § 1, p. 3 dopaltnitelnite provisions and any applicable accounting standards (Decision № 87 of 6.06.2012, the SCC under item. E., The № 468/2011, II t. O., TC).
Termination of shareholder
The decision should be considered obsolete, because References to the provisions did not alter its meaning essentially. The cost of fixed assets will be formed by the historical cost of acquisition or such other price which corresponds to the accounting standards – namely fair price. The definition of fair value has remained the same and the adoption of the new Law on Accounting, “the amount for which an asset could be exchanged, or a liability can be redeemed at arm’s length transaction between knowledgeable, willing transaction buyer and seller.
She’s selling price, stock exchange price or market price. “The annual financial statements should not serve as a basis for calculation. The ultimate goal, the fair amount that outgoing partner should receive is achieved with an inventory and evaluation of assets (and liabilities) of the Company accounted for and valued the time stipulated by law. It should be pointed out that the balance sheet has no binding court material probative and challenge the underlying accounting entries regularity them subject to an express check, while failure of such interim balance sheet of the debtor, on conclusion of the admitted and heard in the course of proceedings specialized legal and economic expertise . Termination of shareholder
With respect to the same are used for general rules of art. 195 et seq. CCP, according to which the conclusion of the experts is not absolute proof in the case, regardless of the action taken or not challenge his party. With respect to the same are used for general rules of art. 195 et seq. CCP, according to which the conclusion of the experts is not absolute proof in the case, regardless of the action taken or not challenge his party. With respect to the same are used for general rules of art. 195 et seq. CCP, according to which the conclusion of the experts is not absolute proof in the case, regardless of the action taken or not challenge his party.
As a conclusion, it should be pointed out that although the shareholding which serves to determine the making of outgoing partner to resemble a liquidation share, it differs from it in the operative event and, therefore, should not be treated equivalent. Their value may substantially differ. Termination of shareholder
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Tour operator or travel agency activity in the Republic of Bulgaria only be performed by registered under tourism entities (merchants). The procedure is regulated in detail in Art. 17 et seq. Of Chapter IV, Section I of the PA. Registration is done by the Minister of Economy, Energy and Tourism (MEET) in the register of tour operators and travel agents (RTTA), which is public.
Legal requirements
Documents for Selling Real Estate
For tour operator or travel agency activity in the register fits a person who meets the following requirements: a trader within the meaning of the Commerce Act or legal person is entitled under another law to implement economic activity; have staff with appropriate education, language skills and experience; person performing management functions tour operator or tourist agency has appropriate education, language skills and experience; It has secured suitable premises for tour operator or travel agency activities; It has signed a preliminary contract for insurance under Art. 42, para. 1 of PAs; It is not in liquidation or bankruptcy; It has made no tour operator or travel agency activity without license / registration in the last 12 months;
Nessesery documents for registered persons shall submit an application form stating: type of tourism, for which registration is sought, the name and address of the registered office, address and identification code, if any, and at the tourist site.
Documents (applications)
The application for registration shall be: copies of documents certifying that the entity has the right under another law to implement economic activity; declaration that the person is not in bankruptcy or liquidation; Information for education, language skills and experience of staff who will be engaged in the realization of tourist activity;copy of the documents certifying their education, experience and language skills of the person performing management functions tour operator or travel agency activities; reference location, suitability and equipment of rooms for the exercise of tour operator or travel agency activities; a copy of the title deed or lease, as well as another document from which derives the right to use the premises, valid for at least one year from the date of application; a copy of the preliminary contract for insurance under Art. 42, para. 1 of PAs; a declaration that in the last 12 months prior to submitting the application, the applicant has not performed the tour operator or tourist agent activity without license / registration and has not revoked license / registration canceled for tour operator or travel agency activities; document for paid fee for handling documents according to the tariff of MS. that in the last 12 months preceding the application, the applicant has not performed a tour or tourist agent activity without license / registration and has not revoked license / registration canceled for tour operator or travel agency activities; document for paid fee for handling documents according to the tariff of MS. that in the last 12 months preceding the application, the applicant has not performed a tour or tourist agent activity without license / registration and has not revoked license / registration canceled for tour operator or travel agency activities; document for paid fee for handling documents according to the tariff of MS.
Consideration of application for registration
The application for registration of a travel agent / tour operator together with the documents attached thereto shall be submitted to the Ministry of Economy, Energy and Tourism. Expert Commission for registration of tour operators and travel agents consider the applications within two months from the date of their submission and rule on them with a reasoned proposal to the Ministry of Economy of the registration or refusal of the registration. If the deficiencies or irregularities in the documents submitted by the trader ECRTTA 30 days to correct them. Minister of Economy, Energy and Tourism based on the proposal of ECRTTA within two months of receipt of the application to the ministry with registration and issue a registration certificate or motivated refuse the registration.
Other conditions
refusal of registration may be appealed under the Administrative Procedure Code (APC). The registration and the registration certificate is valid indefinitely. Rights registration can not be transferred or ceded. Registered persons shall issue a certificate of registration, which is placed prominently on the tourist site.
For the examination of documents and entry in the register of tour operators and travel agents collect fees tariff approved by the Council of Ministers. Currently, state registration fees for travel agent amounted to 2,500 lev, while tour operator – 5000 lev registration requirements are specified in an ordinance adopted by the Council of Ministers (see. The Ordinance on the staff of tour operators or travel agents to face performing management functions of the tour operator or travel agency activities, and to spaces for tour operator or travel agency activity). It is expected that the adoption of the new Law on Tourism, which regulates cases of sale of travel services over the Internet.
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Mant people asked us, why they need to choose our law firm for your lawsuits in Bulgaria.
Bulgaria offers a unique blend of Eastern European culture and Western business practices. Our law firm specializes in lawsuits in Bulgaria, representing both domestic and international clients in a wide range of legal disputes within the Bulgarian court system.
While this dynamic environment presents opportunities, it also introduces complexities that necessitate expert legal guidance.
Why Choose Us?
Deep-Rooted Expertise: With a proven track record spanning 19 years, our firm possesses an intimate understanding of Bulgarian law, court procedures, and local customs.
This knowledge is invaluable in achieving optimal outcomes for our clients.
Comprehensive Legal Services: We offer a full spectrum of legal services tailored to your specific needs, including:
Claim preparation and filing
Representation in court proceedings
Evidence gathering and analysis
Dispute resolution strategies
Enforcement of judgments
Dedicated Client Support: Our team is committed to providing personalized Lawsuits in Bulgaria, attention and support throughout the legal process.
We maintain open communication, keeping you informed every step of the way.
3. Cost-Effective Solutions: We understand the financial implications of litigation.
Our firm is dedicated to providing efficient and cost-effective legal representation without compromising the quality of our services.
Common Types of lawsuits we handle
Our experience encompasses a broad array of legal disputes, such as:
Commercial Disputes: Contract breaches, shareholder disputes, competition law violations, and debt recovery.
Real Estate Litigation: Property disputes, land ownership issues, construction-related claims, and eviction proceedings.
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Limited liability company (LLC) is a type of a capital company which can be established by two or more Bulgarian and foreign physical or legal persons. Set up a company in Bulgaria
The management structure of a Ltd. consists of a General Assembly of shareholders and one or more managers who manage the company and represent it in respect to third parties.
A limited liability company may be formed also by one person and in this case it is a single/sole-member limited liability company (SMLtd) A Ltd. company is established on the basis of a company contract that ought to be concluded in writing.
The name of the company shall contain the words “Limited Liability Company” or the abbreviation “Ltd.”, and should be of a national exclusivity.
The entry of a Ltd. in the Commercial Register is based on an application form. It must be stated personally by the Manager/Managers of the company or a lawyer with an explicit written power of attorney.
Regarding the Bulgarian legislation, only a physical person can be a manager of Ltd.
The manager may be a partner or a third party. There are no restrictions on a foreign person to be appointed as a director of a Ltd.
The capital of a limited liability company cannot be less than 1 Euro (minimum 2 BGN). It consists of the shares of the partners which must not be less than 1 BGN/each.
Partners can bring both cash and non-cash contributions. Non-cash contributions are subject to mandatory assessment by three independent experts appointed by the Registry Agency.
The shares of a Limited liability company are not a subject to trading. They can be transferred with a notarized contract for transfer of shares.
The one between shareholders does not require a decision of the General Meeting. Otheriwse, the transfer of shares to a third party, as well as the adoption of a new partner does require such a decision.
Rights and obligations of the shareholders
According to the Bulgarian Law, the members of a Ltd. have got rights such as the following: right to dividend and liquidation quota, amoral rights like right to participate in the management of the company, as well as to be elected as a manager.
Immaterial rights include: accessing company’s information, supervising the meetings of the General Assembly, etc. Shareholders have got a financial obligation – it is payment of contributions.
Non-compliance with these obligations could result in exclusion of a partner. Immaterial liabilities include participation in the management of the company, implementation of decisions taken by the General Assembly. Competition is absolutely prohibited both for the partners and the manager. Set up a company in Bulgaria
Registration of a Limited Liability Company/ sole-Owner LLC
Usually the legal framework for company set up in Bulgaria is following – Commerce Act; Commercial Register Act etc.. The competent authority is the Bulgarian Commercial Register with the Registry Agency.
Now we would like to inform you for all nessesery legal steps of the entire procedure of company registration. Our legal work start from the same beggining of preparation of the paperwork & documents as:
1) Checking up with the electronic register of the Commercial Register and/or reservation of a business name.
2)Holding of an Incorporation Meeting, adoption of a Memorandum of Association or an Act of Incorporation, appointment of managing director/s.
3)Depositing the company capital into a special capital raising account (the minimum capital amount is 1 Euro (minimum 2 BGN).
4) In case of any specific business, an authorisation by the competent authority shall be provided when filing the documents with the Commercial Register.
The list of the documents, which are required for every company registration is following :
– Preparation & drafting of Application form for registration.
– Preparation & drafting ofMemorandum of Association or Act of Incorporation.
– Preparation & drafting of Minutes of the Meeting of Incorporation of the company.
– Preparation & drafting of docuiment for Specimen *(signatures) of all appointed managing directors/ managers of the company.
– Preparation & drafting of declaration pursuant to Article 142 of the Commerce Act signed by each of the appointed managing directors.
– Preparation & drafting of declaration pursuant to Article 141, paragraph 8 of the Commerce Act signed by each of the appointed managing directors.
– Preparation & drafting of Certificate of the deposited capital issued by a bank.
– Preparation & drafting of resolution of the body managing and representing a member who is a legal entity.
– Preparation & drafting of Certificate of good statement from the relevant business register regarding a member who is a foreign legal entity.
– Preparation & drafting of document evidencing payment of the state fee for incorporation of a limited-liability company.
– Preparation & drafting of declaration under Article 13, paragraph 4 of the Commercial Register Act signed by the applying managing director.
– Preparation & drafting of relevant license or permit according to any special law on the performance of a specific business.
We would like to advise you for the legal terms of the entire registration process :
For submitting an application for registration or deregistration before the Bulgarian commercial register, we need about 5-7 business days after its acceptance of the documents
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If you think your interests are injured with the will, left by your testator, seek help from a hereditary cases lawyer. He will initiate a challenging a will lawsuit.
There are null and void grounds for filing a challenging a will lawsuit. Null grounds have no legal effect while void grounds have legal effect, but it can be suspended. For this purpose, it is necessary judging the relevant claim or objection. To be filed challenging a will lawsuit it is necessary not to have expired 10-year duration of opening of succession. In addition: not to have passed more than 10 years since the death of the testator. The period between learning the reason for filing a challenging a will lawsuit and starting the procedure should be maximum 3 years.
The first ground of nullity is governed by Art. 43, para. 1 b. A the Law of Succession. It is related to testamentary capacity. In order for a person to draw a valid will, it should be major and be able to act wisely and handle his actions. This is Decision № 244-1979-I, 83-2004-II GO SCC.
People who are under full guardianship do not have testamentary capacity. A controversial issue is the ability to bequeath of such person. According to some of the opinions, a person placed under partial guardianship can not be legally able to prepare a will. Case law, however, takes the opposite view. It is assuming a decisive factor specific factual possibility of reasonable actions of the person rather than the legal limit of capacity. For this reason, in a challenging a will lawsuit a person’s legal capacity to bequeath shall be assessed to the date of the will. It doesn’t matter the legal capacity of a person before making a will.
The Secon Ground
Challenging a Will Lawsuit
of nullity of a will is governed by art. 43, para. 1 b. “B” Law of Succession. According to it the mistake, which is a discrepancy between the external objectification and the actual inner will of the testator, is a ground for dispute. Mistake can refer both to the person – successor, and the subject of inheritance. The mistake in the name of the successor does not vitiate the will. The contents must have enough data to customize the person (decision № 284-2000-I GO SCC). It is possible that there is a mistake of the motive for the preparation of the will and it is displayed as an independent ground for filing a challenging a will lawsuit.
It is envisaged that the motive is expressed in the very will and it is crucial, namely that it is the only reason for creating a testamentary disposition.
The following grounds for nullity of a will are “fraud and violence”. They are regulated in Art. 43, para. 2 Law of Succession. Violence can be expressed in physically or as a threat of force. If violence is in a form of a threat, it should create a well-founded fear in the testator, who is preparing a will.
In a challenging a will lawsuit the original claim may be filed to seek annulment. Without the need of changing the claim, it can be proclaimed the nullity of the will. To perform testamentary dispositions court can make a judgment, based solely on the will, submitted as evidence in the case.
Grounds for nullity of a will include:
procedural defect of the will – lack of full date and / or signature of the testator, the will is not written manuscript by the testator and is printed on a typewriter, computer or laptop
the motive of the will is contrary to law and morality
the will is on a contrary to the gratuitous nature of this type of document
Due to the variety of reasons that can lead to vice – grounds for filing a challenging a will lawsuit it is a good idea to seek help from a hereditary cases lawyer before you prepare this important document.
Contact us. We are professions. If you need some advices, you can receive helpful information online.
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If you are a co-owner of hereditary property and wish to sell your ideal part of it, but you do not want to offer the other co-owner / co-owners, as prescribed in law, then consult an experienced realestate lawyer. We work with excellent real estate lawyers, the best in this area. They know how to solve your problem without circumvent the law.
Sale of Shares of Common Property
Our experienced real estate lawyer will tell you that according to art. 33 of the Property Act, if you are a co-owner of a property and want to sell your share of it, you must first offer the share of the property to another co-owner or co-owners, if they are several. Only when each of them refuses to redeem your shares, you may sign a purchase contract – the sale of sharesof common property of a third party.
Unfortunately, in many cases co-owners of an inherited property, for example, are not in good relationships with each other. Moreover – they often do not even speak to one another. The presence of a deep rift in their relationship is the reason the co-owner who has decided to sell his shares, seeks to avoid direct contact with the other co-owner or co-owners. Sometimes the owners of real property are too many and do not even know each other. This is a common problem in inheritance of property – land. This situation occurs too frequently, but most of our customers do not know that it can be overcome. So if there are any any pressure points associated with the sale of shares of common property or preparation of documents for the sale of the property, contact our experienced specialist. Now you have the exclusive opportunity to receive free online consultation through our website. You can connect with an experienced real estate lawyer if you use the contact form on our website, the e-mail or phone number.
Why to choose us?
International law firm “D. Vladimirov and partners” has extensive experience in the sale of shares of common property. Our team of experienced real estate lawyers, completely dedicated to their work, knows the ins and outs that will get you out of this delicate situation. Here you will meet with an effective and lawful method that will accomplish your goal without circumvent the law.
Although the provisions of Article 33 of the Property Act is adamant there is a legal way to prevent offering your share of the property of other co-owners. Here it is: You, as an owner, if you want to make a sale of shares of common property of a third party must first transfer by donating a part of your share to the third party. If you own a ½ share of the property, it can be transferred by donation ¼ of your ½ share of the third party. Subsequently, you will sell the rest of your share to the same third party. This third party entitled gifted ideal part of the property is also provided in the position of a co-owner. Through this quirk you will comply with Article 33 of the Property Act and still sell your property to the person you wanted.
Such action is undoubtedly lawful and does not constitute circumvention. It is a widely used tool for solving problems related to co-ownership of real estate, where the co-owners are not able or willing to voluntarily resolve disputes of that nature.
If you want to get a quick free consultation from a professional, contact us by phone 02/858 10 25 or email info@lawyer-bulgaria.bg. We are available to answer your questions and give you the right advice on how to proceed in this situation. Before contacting us, please read the general terms and conditions that you can find in our website. We are available 24 hours a day.
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