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Purchase property in Bulgaria

Our law office D.Vladimirov & Partners provide a professional legal services to purchase property in Bulgaria.

The entire process of buying a property in Bulgaria is complicated so we need to check the ideal parts of the ownership right and also the land plot for lack of encombrances.

Once you’ve found a home you plan to buy and agreed the selling price, you will need to take the following steps:

Signing a preliminary contract and pay a deposit.
Signing the notary deed and make the final payment.

The buying process is generally straightforward and is often completed within a month. EU citizens can purchase and own property in Bulgaria in the same conditions as locals.

The process of property acquisition and disposal can be lengthy and complicated and we advise our clients on the significant commercial implications that might arise.

We advise on and draft development agreements, provide legal assistance in construction, planning and site disposal matters, fund-raising arrangements, freehold transfers and any associated due diligence reports.

We assist in the acquisition of real estate in Bulgaria and in the subsequent implementation of investment projects in the field of hotel management and tourism, golf courses, office and commercial buildings, industrial construction works in Bulgaria

Please note we are chariging you for real costs and legal fees, state fees and the tax for transferring of ownership). If a travelling out of Sofia is needed, this would be calculated additionally.Purchase property in Bulgaria

Property legal check-up

Working with many international clients & corporate, our law office D.Vladimirov & partners has created a stable legal work policy for checking of the legal status of your property in Bulgaria.

Acting as a qualified property lawyers in Bulgaria, we performing the legal check services for our clients, depending on complexity of every case in the Bulgarian property register.

We check in the Bulgarian property Register the status of the certain property and report to our clients the final results and warnings, if there are any.

This information would allow you to check whether there are any encumbrances upon your property, for which you do not know, for example: a mortgage for a loan, which is already repaid, interdiction, imposed by the tax authorities for unpaid tax obligations, or any other rights of third persons.

Bulgarian land investment no longer requires company !

As a result of the contractual obligations, undertaken by the Bulgarian government in relation to Bulgaria’s membership in the European Union, an important part of the Bulgarian law was recently changed.

From 1 January 2012 citizens of the EU are no longer prohibited to purchase Bulgarian land, which is in regulation.

Until this date they had to set up a Bulgarian company and purchase land through the established legal entity, as according to the old law only Bulgarian individuals and companies had the right to acquire Bulgarian land.

This led to many unfavourable consequences for foreign investors, such as paying additionally to a lawyer to establish a Bulgarian company, appointing an accountant for the relevant services and making other expenses, related to having and maintaining a company.

Preliminary Contract

The first stage in buying a home in Bulgaria is the signing of a preliminary contract. Your lawyer is responsible for ensuring that this is drawn up correctly and you shouldn’t rely on an estate agent to do so.

It’s important not to pay a deposit or sign a preliminary contract prior to performing an in-depth due diligence of the property.

Check that the property has the same dimensions as advertised, if there are any undisclosed encumbrances (i.e pending costs) and that all the necessary permissions and documentation are in place.

While some agents or developers will provide a properly-drawn up contract, some won’t – and unless you’re a Bulgarian-speaking lawyer you won’t be able to tell which is which!

For peace of mind it’s recommended that you have the contract drawn up or at least checked by a Bulgarian property lawyer.

There are a number of types of preliminary contract, depending on whether you’re buying an existing (built) property or a new property off plan (i.e. yet to be built or under construction).

Signing the Notary Act

Signing the notary act (sometimes referred to as the notary deed, purchase contract or final contract, which is equivalent to a title deed) is the final step in taking ownership of your property.

If you’re unable to be present at the signing, you can have your agent or lawyer sign it on your behalf if you’ve given him power of attorney.

You should always sign the notary act in person if you’re buying a brand new or off-plan property, to make sure that all the requirements of the preliminary contract have been met.

The signing of the notary act takes place in front of a notary public, who first checks that all the conditions contained in the preliminary contract have been fulfilled.

It’s normal for all parties concerned to be present when the final contract is read, signed and witnessed by the notary, including the estate agent, developer (for new or off-plan property), your lawyer and your translator.

Either party (buyer or seller) can give a representative power of attorney. In the case of an off-plan purchase, the final contract isn’t signed until the building is complete.

Find independent legal advice for purchase property in Bulgaria

Numerous property owners are now experiencing problems with their property because they did not seek independent legal advice and instead used lawyers and translators which were recommended by the estate agent or developer and they were acting for both parties.

Appoint a qualified lawyer, who is experienced in property conveyance and fully independent of anyone else involved in the transaction, eg the estate agent, vendor or developer.

If you need our legal assitance, do not hesitate to contact us immediately

May 20, 2018/by lawyer

Legal advices, News, Personal

Real estates lawyer Bulgaria

Our professional property lawyers team and assist the customer through the whole purchase or sale procedure from real estates lawyer Bulgaria.

Our Bulgarian lawyers, even they are real estate company’s lawyers guarantee and makes you sure that the transaction is legal,

The seller or the buyer understand each legal action

He works with purchasers, buyers and sellers of apartments, houses, plots of land, agricultural land, mortgages, bank loans, loan applications, tenants.

We advise always to use a property lawyer services because the past two years a lot of problems occurred with the real estates properties in Bulgaria.

Before it was believed that the real estate agent was enough to assist you.

+LEGAL CHECK OF DOCUMENTS

If you are a seller in a real estate transaction, our law firm can offer full legal services, including the following:

– we prepare a project and coordinate amendments to the text of a preliminary contract for sale and purchase of real estate;

– we inspect, advise and assist you in obtaining the necessary documents for the sale, including, but not limited to:

a certificate of tax assessment of the property;
certificate of marital status;
certificate of marital regime;
certificate of presence/absence of material encumbrances;
previous property acts;
cadastral scheme of the property by the GCCA, and others;
Filing a corrective declaration under Article 14 of the LTFA;

– we perform a check on the buyer – their representative power, availability of information about court cases against them, and other relevant information;

– we prepare and make amendments (if needed) to the draft title deed, assist our clients before the notary public and accompany the client on the day of the transaction;

– we assist our clients in obtaining possession of the property, including the preparation of a acceptance and delivery certificate, if such is needed and agreed;

– we coordinate the communication with the lending bank, if the buyer is going to use a loan for the purchase, we monitor the issuance of a letter of engagement;

– we cooperate, if the sale price will be paid through a trust account contract/escrow account;

In addition, although we are not financial advisers, we can provide you with guidance on the approximate real market price of the property, which you can receive from eventual sale.

We can represent you as a client in property issue throughout the whole process

If necessary, we can sign the new notarial deed on your behalf as seller and deliver possession of the property to your buyer.

We also offer legal assistance in solving problems related to the Cadaster and Property Register Act, problems with property boundaries, unresolved regulatory bills, precise registration of apartments, houses and plots in the schemes issued by GCCA, as well as with the preparation and supply of all the necessary documentation.

Should you have any questions or need information on the above legal services, please

But the Bulgarian property lawyer is the attorney who will be useful in practically all cases, including any legal stops in Bulgaria, contract negotiations and mortgages.

Some of the purchase contracts are standardized, others have ambiguous terms

In that case you need a property lawyer who is profound into the Bulgarian property legislation.

Our legal services include legal activities in following activities like:

Legal representation during sale and purchase of real property;
Provision of any documents required for the purposes of legally confirming property status;
Obtaining a certificate for entries, recordations or deletions;
Performing checks within the archive records at the Registry Agency
Legal check for the choosen property – a legal entity and clarifying circumstances that are vital for the transfer of the real property,
lawsuits against the seller, which may affect the property.
Drafting, preparation, signing, termination, and rescission of contracts for purchase and sale of real estate.

Preparation of notary notices for cancellation of preliminary contract for the sale of real estate.

Full legal assistance and representation in court during court cases for a refund of paid deposit as per a signed preliminary contract.

Legal representation by real property lawyer during legal proceedings under Article 19 of Contracts and Obligations Act for the announcement of a preliminary contract as final.

Full representation of a seller or a buyer during the signing of a title deed and the related procedure of declaring the property at the local municipality.

Legal representation during court proceedings for property aqusition.

Valuation of real estate properties by a competent licensed appraiser and obtaining the relevant valuation within a period of up to few days.

Our work for investor clients is at the heart of our real estate lawyers group.

We are committed to all aspects of the real estate law and we are able to service all requirements of our real estate investor clients. Real estates lawyer Bulgaria

Our experience includes not only the preparation of straightforward sales, purchases and leases but also the preparation of most complex deals

Legal advice on the structuring and financing of such deals.

Our real estate lawyers work in close cooperation with our tax law experts in order to provide you with a working solution that is to meet all your requirements and to cover all aspects of your deal.

In particular, our work in this area includes:

Preparation of due diligence reports related to prospective purchases or leases of real estates;
Preparation of sale agreements;
Preparation of short or long term lease agreements;
Advice on the organization of the design and construction processes;
Preparation of construction agreements;
Preparation of design agreements;
Review and preparation of agreements with supervision companies;
Organization and preparation of deals that require an escrow payment;
Provision of tax advice on all aspects of the real estate deals.

December 10, 2017/by lawyer

Legal advices

Management of Condominium Buildings

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.

December 9, 2017/by lawyer

Legal advices

Termination of shareholder

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

October 17, 2017/by lawyer

Uncategorized

Registration of tour operator and travel agent

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.

October 16, 2017/by lawyer

Legal advices, News, Personal

Lawsuits in Bulgaria

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.
Debt collection law: Debt collection claims, freezing debtor’s assets
Personal Injury: Accidents, medical malpractice, product liability, and wrongful death claims.
Family Law: Divorce, child custody, alimony, and property division.

Our Approach to Litigation

We believe in a proactive and strategic approach to litigation.

Choose our law firm for expert legal representation in Bulgaria.

We specialize in handling lawsuits across a wide range of practice areas, including civil disputes, commercial conflicts, and personal injury cases.

Our experienced attorneys are well-versed in Bulgarian legal procedures

We have a proven track record of achieving favorable outcomes for our clients in Bulgarian courts.

If you are facing a legal challenge in Bulgaria, our law firm is here to assist you.

Contact us today for a confidential consultation to discuss your case and learn how we can help you achieve a favorable resolution.

October 13, 2017/by lawyer

Legal advices

Set up a company in Bulgaria

Limited Liability Company in Bulgaria (Ltd.)

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

April 1, 2017/by lawyer

Legal advices

Challenging a Will Lawsuit

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.

November 4, 2016/by lawyer

Legal advices

Sale of Shares of Common Property

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 real estate 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 shares of 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.

November 4, 2016/by lawyer

Legal advices, News, Personal

Car Accident Lawyer in Bulgaria

Car accident lawyer Bulgaria

During the summer, the demand for a car accident lawyer in Bulgaria often increases, as many individuals find themselves in need of legal assistance after vehicular mishaps.

Navigating the roads in Bulgaria can sometimes lead to traffic accidents or crashes. In such stressful times, the expertise of a car accident lawyer in Bulgaria, along with a qualified insurance lawyer, becomes indispensable.

We will guide you on how to connect with a proficient Bulgarian insurance lawyer who can efficiently resolve all your legal issues.

Our team of skilled insurance lawyers in Bulgaria is dedicated to supporting every case with care, understanding that car traffic accidents can cause significant physical and emotional distress.

Contact authorities and your lawyer

In Bulgaria, a country known for its scenic beauty and historical landmarks, it’s crucial to be well-informed about the steps to take.

This guide is designed to equip you with essential information and insights on handling car traffic accidents in Bulgaria, ensuring your safety and reducing the legal and financial impacts of such incidents.

We are specialized in solving insurance and car accident cases.

By contacting the insurance companies for getting sufficient insurance compensation in Bulgaria and abroad.

There are some stickers on the front glass of every car which shows you one main thing

You need to have a valid insurance for damages on the third party.

To secure compensation for crashes in Bulgaria, it’s advisable to enlist the services of a professional personal injury lawyer who is experienced in such matters.

2. Prepare and show him/her all the necessary documents.

Then, the police officer is given a full account of the entire situation and the specific location of the accident on the road.

Insurance lawyer – what else?

3. Notify the Bulgarian authorities:

Under Bulgarian statutory law, it’s compulsory to report any accident that results in personal injury, vehicle damage, or significant property damage to the nearest police station.

It’s crucial to provide your personal injury lawyer with accurate and comprehensive details about the incident when filing a police report.

4. Notify your insurance lawyer promptly.

In the event of a car accident, provide your car accident lawyer in Bulgaria with all the necessary documentation required for the case, such as

A/The police report,

B/medical records (if applicable), and

C/ Pictures & photos of the accident scene.

An experienced insurance lawyer will advise you that the procedure for obtaining insurance compensation after a car accident hinges on:

the accident,
damages,
documents,
driver fault(s),
weather conditions and so on.

If a car accident happened in Bulgaria, you should fill in an accident protocol.

All drivers in Bulgaria must own one.

The crash protocol must include the most crucial circumstances that occurred during the accident to support accident claims effectively.

This protocol of crash should be filled after the crash is over from the police office.

This is the most important document, issued by the traffic police in Bulgaria.

In the event of personal injury or legal proceedings, this document is essential for Bulgarian courts to assess the case.

They will be needed before we submit the legal claim against the insurance company.

According to the consensus among insurance lawyers in Bulgaria, the pivotal question in every accident is whether the driver’s fault was the cause.

This needs to be well described in the Protocol of the accident.

Being insurance lawyers and acting as car accident lawyers in Bulgaria, we do help the injured people.

This could be a physical person- from the country or abroads.

Consult with a legal professional

If you’ve suffered significant injuries or face challenges in dealing with insurance companies, seeking legal advice and exploring medical treatment options is recommended.

A skilled Bulgarian insurance lawyer can navigate the intricate legal process, advocate for your rights, and strive for just compensation for your losses.

An experienced insurance lawyer can effectively negotiate with insurance companies on your behalf and represent you in court, should the need arise.

We are committed to legally supporting you to secure fair insurance compensation from the insurance companies in our country.

Our legal advice in crash cases

Experiencing a car traffic accident in Bulgaria can be overwhelming, but being prepared and well-informed can make a significant difference.

Important rules to follow up in case of accident

1.Remember to prioritize safety, gather essential information

2. Report the accident to the authorities,

3. Notify your insurance company,

4. Seek for medical attention, and

5. Consult with a legal professional when needed.

By following these steps, you’ll be better equipped to handle the aftermath of a car accident in Bulgaria

Adopting a no win no fee approach is the only way to protect your rights and secure the compensation you deserve after an accident.

Stay vigilant, drive safely, and be prepared for any unforeseen circumstances on the road. CALL US NOW on + 359 897 90 43 91 or send us an e-mail to info@lawyer-bulgaria.bg

August 14, 2016/by lawyer

Posts

Purchase property in Bulgaria

Property legal check-up

Preliminary Contract

Signing the Notary Act

Find independent legal advice for purchase property in Bulgaria

Real estates lawyer Bulgaria

Before it was believed that the real estate agent was enough to assist you.

We can represent you as a client in property issue throughout the whole process

Our legal services include legal activities in following activities like:

Legal representation during court proceedings for property aqusition.

Legal advice on the structuring and financing of such deals.

In particular, our work in this area includes:

Leaving partner

Termination of shareholder

Registration of tour operator and travel agent

Legal requirements

Documents (applications)

Lawsuits in Bulgaria

Why Choose Us?

Common Types of lawsuits we handle

Our Approach to Litigation

Set up a company in Bulgaria

The list of the documents, which are required for every company registration is following :

We would like to advise you for the legal terms of the entire registration process :

Challenging a Will Lawsuit

The Secon Ground

Grounds for nullity of a will include:

Sale of Shares of Common Property

Why to choose us?

Car accident lawyer Bulgaria

Contact authorities and your lawyer

Insurance lawyer – what else?

All drivers in Bulgaria must own one.

Consult with a legal professional

Our legal advice in crash cases

Important rules to follow up in case of accident

Any more questions? Call us on + 359 897 90 43 91 !

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