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Bulgarian property lawyer

Bulgarian Property Lawyer

Selling your property in Bulgaria is not very easy, even if you have already find a buyer. That’s why you are in needs of assistance. Look for a Bulgarian property lawyer!

If you have already bought a property in Bulgaria, you need to check up if this property had been registered in all the necessary authorities. And in the Municipality Office, too.

Our law firm works as a professional Bulgarian property lawyer, as well. We support many foreigners who want to sell your real estate property in Bulgaria.

Usually, if you have a good property, is quite easy to find buyers in Bulgaria.

As property lawyers in Bulgaria, we could help you finding a buyer and getting a good price for you.

It is very important to follow the legal advices of a property lawyer so that you will save money and precious time. Our experienced Bulgarian property lawyers will help you with the documents for the selling.

First Steps

Before you sell your property in Bulgaria, you should have all the documents necessary,as well as declarations needed for a sale – prepared in advance. We assume you will need qualified property lawyers. This means, you need us.

Our property lawyers in Bulgaria are ready to assist you and protect your interests in selling your property in Bulgaria. You need just to call us or to send us an email.

Then we will be ready to start the legal procedure.

Before starting every single deal, your lawyer is obliged to check for potential legal problems.

He/she has to prepare all the documents necessary for the transfer of the ownership over this property.

We always check if there isn’t any property charges over your property you are trying to sell.

For example, encumbrances, mortgages or pledges over your property by the Tax Office or by a third party.

Usually, when our buyer signs the preliminary contract, he/she needs to leave a deposit as a percentage of the sale price of the property in Bulgaria.

When we help you finding a buyer, we require a simple power of attorney to represent you by conclusion of the preliminary contract for the purchase of the property with the buyers in Bulgaria.

Our qualified property lawyers will prepare the draft of Preliminary contract and will negotiate with the buyer concerning the transfer fees of your property.

After receiving the written confirmation for all necessary legal conditions, we sign the preliminary contract for purchase on your behalf. Then we send you a copy of it.

We are obliged to find buyer/-s and sell your property correctly.

When all the Documents are ready…

When all of the documents and declarations are done, our lawyers start preparing the Notary Deed for transferring the ownership over your property.

You can trust us – we are specialized in property sales of foreign clients in Bulgaria.

Each Bulgarian property lawyer will help you with the documentation and legal proceedings.

The next legal step to sell your property is to sign the Title Deed for the sale of your property.

We will help you by representing you at the Notary Public in Bulgaria.

The last step to complete your sale is submit the declaration with your property into the Tax Office of your municipality.

Remove the old owner’s name of the property from the Tax Register, to avoid any legal problems.

We, as property lawyers in Bulgaria will highly recommend you using our legal services to complete all this legal issues & steps.

The mentioned property legal proceedings are just for your information, if you are trying to sell a real estate property in Bulgaria.

Every single case has got its legal specifics & questions.

We strongly recommend you to use a property lawyer in Bulgaria for legal transactions, in order to save your time, money and worries.

Call us now on + 359 897 90 43 91

August 9, 2016/by lawyer

Legal advices

Mergers and Acquisitions Lawyers in Bulgaria

As a corporate and company lawyers (acquisitions lawyers) in Bulgaria, our work is connected with some company transformations. The process of mergers and acquisitions in Bulgaria is regulated by the Commerce Act. There are specific rules for public companies in Bulgaria specified in the Bulgarian Public Offerings Securities Act (POSA). Takeover bids for public companies are regulated under special conditions. As corporate and company lawyers in Bulgaria, we follow the legal procedure.

The main goal for company mergers and acquisitions is creating a consolidated company that benefits from the synergy of the merging companies.

Differences related to the type of company

The foreign Investors in Bulgaria need some legal advices from corporate and company lawyers when they plan, acquire or take over legal companies in Bulgaria. They must know that there are different rules applying to specific types of companies in Bulgaria. Some company mergers and acquisitions differ for joint-stock and limited liability companies. The main differences apply to the documents necessary to be prepared for merger or acquisition, and approval with registration required. Only joint-stock companies are eligible to elect to be public or non-public tradable companies. We offer you mergers and acquisitions lawyers. You will save money and precious time. Our experience lawyers make us proud and convinced that we are one of the best law firm in Bulgaria.

Necessary documents. Law Firm in Sofia, Plovdiv & Bansko

The Commerce Act stipulates that certain types of documents are compulsory for mergers and acquisitions in Bulgaria. Mergers and demergers require a plan for transformation, agreements, management reports, audit reports and certificates of good standing.

To transfer shares from limited liability companies in Bulgaria, a share purchase agreement and new Articles of Association are required. Transfers of shares from a joint-stock company require fewer documents in general.

As corporate & company lawyers in Bulgaria, we inform our clients that mergers and acquisitions in our country require approximately 25 business days. This depends on the type of company and the approvals and regulations required. Bulgarian laws are investor-friendly and the provisions applicable to Bulgarian investors apply to foreign investors as well.

You need legal law advices, if you are involved as a party in mergers or acquisitions. Our legal team can provide you with all legal assistance necessary. For more information, please contact us.

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June 20, 2016/by lawyer

Legal advices

Dividend Tax in Bulgaria

Dividend tax in Bulgaria

Working as professional tax lawyers in Bulgaria, many clients asked us how much is the dividend tax rate in Bulgaria. We have a great expirience as tax lawyers in Bulgaria so we do inform our clients that dividends are payments made by a corporate legal entity to its shareholders, which are usually distribution of profits. A corporation may choose to reinvest either the profit or any surplus, to use retained earnings or distribute the profit to shareholders. Dividends are payable in cash or as new shares, i.e. treasury shares.

List of compensations considered as an income in Bulgaria

Divident tax in Bulgaria

Any type of compensation, financial or in kind, is considered as an income and so it is a subject to a personal income tax domestically. Dividends remain within the list of sources of a taxable income. Other items on this list can be: salary, bonuses, income from interest, income from other economic activities, capital gains or rental income. However, reinvested dividends are tax-exempt in Bulgaria.

Corporate Income Tax Act governs taxation of dividends

As tax lawyers in Bulgaria, we advise our clients that according to the Corporate Income Tax Act in Bulgaria, withholding tax shall be payable as regards to dividends at a rate of 5%, if it is distributed to private individuals. These include non-residents, if the residents are citizens of an EU or EEA member state. In case of Special Purpose Investment Vehicles or if foreign legal entities outside an EU/EEA member state foreign entities distribute dividends, then dividends distributed to legal entities of residents of Bulgaria shall not be included in these legal entities’ taxable income. For capital gains deriving from holding shares in subsidiaries, the the flat corporate income tax shall apply at a rate of 10%, or at the level of a Bulgarian company.

The tax lawyers in Bulgaria

In Bulgaria withholding tax may not be necessary to be paid, if shareholders in the Bulgarian legal companies are tax residents of an EU country and they are not residents of a third state on the grounds of a double tax treaty. Moreover, if the shareholders are payers of corporate income tax in their resident state and they are not entitled to any tax exemptions, then they are not a subject to withholding tax. It also applies to non-residents that hold at least 15 % (percent) of the shares in the Bulgarian company that distributes the dividends for at least two years.

Tax responsibilities of the recipient?

In our legal praxis as tax lawyers in Bulgaria, we see that after receiving a dividend payment from a Bulgarian-registered legal entity, withholding tax is paid, so the recipient shall not have to report on it and shall not owe any personal income tax on that amount. Should the dividends be received from a non-Bulgarian legal entity, however, it shall be included in the tax return and shall be taxable as a personal income tax. If you are interested in getting more information for divident taxes for your investment in Bulgaria, our tax lawyers will be happy to provide you with all information you require and will assist you in all legal procedures. Please call us on + 359 2 858 10 25, or send us an e-mail to info@lawyer-bulgaria.bg.

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June 19, 2016/by lawyer

Legal advices, News, Personal

Litigation Lawyer in Bulgaria

If the people need a legal help for collecting some debts, they are calling the Litigation lawyer in Bulgaria.

The litigation procedures in Bulgaria are very interesting and conservative

Thsi process could continue for different periods, depending on the complexity of every legal case.

A litigation lawyer is a solicitor or barrister who specializes in contentious matters and lawsuits.

The litigation lawyer represents his clients at all stages of a lawsuit from get up for trial, briefing counsel and is responsible for carrying the lawsuit through the court process.

Our responsibily to the client

They all are ready to assist you and support you legally, if you need a legal advice for your issue in Bulgaria. Litigation Lawyer in Bulgaria

The most important responsibilities of the Bulgaria litigation lawyers are to prepare all legal documents.

They are necessary in court procedures in Bulgaria, needed for the defense or the assistance, giving legal advices and representing the clients & defending clients before the authorities in the court & public procedures in Bulgaria.

Our Bulgarian litigation lawyers will support you by preparation of legal documents.

They work usually on hourly basis and follow a specific legal procedure in whole litigation process before the Bulgarian courts.

Sometimes we need and require additional information from the clients or from the authorities.

That takes more time, especially when we need to prepare your defence or statement for the Bulgarian courts. Litigation Lawyer in Bulgaria

During the litigation procedures before the Bulgarian court we have an access to all legal acts and documents shown.

Additionally we could investigate the case for additional information regarding the cases.

We can also ask for copies and samples of documents, as well as receive information of high priority from the Bulgarian authorities.

In regular cases, our Bulgarian litigation lawyers are owed remuneration for their work determined on hourly basis according to written or mutual contracts.

The payment of the Bulgarian litigation lawyers is in accordance with the Ordinance of the Supreme Attorney Council.

Exceptions in the litigation process…..

Before we start, there are some technical limitations for a regular litigation lawyer in Bulgaria.

A litigation lawyer is a solicitor or barrister who specializes in contentious matters and lawsuits.

Some individuals cannot be litigation lawyers in Bulgaria:

people convicted in crimes;
lawyers who had lost their attorney rights of practice;
traders or managers of a trade company;
governmental people & public office employees or the individuals who has declared the insolvency.

If you need our support or are looking for a litigation lawyer in Bulgaria, do not hesitate to contact us immediately

Our contacts are + 359 897 90 43 91, or send us an e-mail to info@lawyer-bulgaria.bg.

What does a litigation lawyer do?

The work of a litigation lawyer focuses exclusively on lawsuits to try and win the case. Most of the time, litigation lawyers handle a lawsuit in court, but ideally most clients try to mediate or settle a lawsuit out of court to avoid high costs of litigation. There are many different types of litigation including civil, tax, commercial, probate, financial services/regulatory, criminal, matrimonial and divorce, construction, intellectual property, insolvency and bankruptcy lawyers, personal injury, shipping and insurance litigation. Some large multinational companies or financial institutions even have their own in-house litigation specialist.

What is the litigation process ?

A litigation lawyers prepares for trial application, drafts affidavits from expert witnesses, provides advisory opinion and represents their clients in court

What every client could expect from a litigation lawyer ?

A litigation lawyer needs to prepare the get up for trial before the law suit is filed and this includes research, discovery of documents, gathering substantial evidence, advising the client if the matter should go to trial or should be settled before court. During the pre-trial period, after the suit has been filed, a litigation lawyer will file required pleadings, gather substantial evidence for trial, take depositions from expert witnesses and file and argue interlocutory motions.

What to expect on the job

Litigation is often very detail oriented, and a litigation lawyer can sometimes find himself having to file suits against multiple counter-parties for a single case. When working on large-scale lawsuits, a litigation lawyer may often brief external counsel (sometimes even QC – Queen’s Counsel) and also have a team of junior lawyers to help with more remedial litigation tasks such as collecting of evidence, discovery of documents and other matters. Smaller suits are sometimes settled out of court to help the client save some money.

What we offer to the clients ?

Litigation is sometimes a long drawn out process, as there are many legal procedures that need to be followed before a case can be settled or taken to trial and sometimes these decisions go on appeal for re-trial as well. The bureaucracy of court systems and regulations and their corresponding waiting times further extend the litigation process, as all bases need to be covered. Litigation is sometimes a long and complicated procedure, but for a patient and passionate lawyer, the reward of winning a case merits the effort.

June 12, 2016/by lawyer

Legal advices

Liquidation of Companies in Bulgaria

Liquidation of companies in Bulgaria

Our law office, acting as company lawyers In Bulgaria, works with many legal issues & problems. However, dissolving or liquidation a companies may be a voluntary procedure. Sometimes the decision has to be adopted by the company’s shareholders, or a company might merge with another legal entity.

The company lawyers in Bulgaria are the specialist for dissolving or liquidating a company in Bulgaria which may also be mandatory – may be the company experiences bankruptcy procedures, or a decision may be adopted by the Bulgarian court. We, as company lawyers in Bulgaria, do work also from the whole legal process of setting up a company in Bulgaria and including it in the Commercial Act of the Republic of Bulgaria. Completing of the winding up process requires undertaking certain actions and the owners may aski for the services of a law office in Bulgaria to assist with the formalities.
Regardless of the reasons which have resulted in liquidation of companies, our team of company lawyers in Bulgaria will be happy to provide assistance and legal counsels for the full duration of the procedure.

Legal steps required for dissolution and liquidation of companies in Bulgaria

The whole procedure for liquidation of a company in Bulgaria starts with accepting a decision by the shareholders of the company, or a ruling by a competent Bulgarian court. We, having a professional company lawyer in Bulgaria, move the procedure and prepare the documents on the first stage which consists the full suspension of the company operations – the stage of dissolving the company. Dissolving & Liquidation of company in Bulgaria, as a first phase is required because the company has to terminate any and all businesses and procedures before its assets are transferred to any other party.

The company liquidation in Bulgaria shall be started and dissolved with a decision of the shareholders. The legal decision for a company liquidation in Bulgaria is adopted with a majority of the shareholders (at least 75% of the company equity). Following the company decisions, the manager of the company has to notify the National Revenue Agency of this company decisions and of the start of the liquidation procedures in a Trade & Commercial Register.

Despite the fact that the company still exists for the duration of the liquidation procedure, it may not perform any business activity. Following the conclusion of the procedure, the company will no longer exist and shall be deleted from the Commercial Register of the Republic of Bulgaria.

The most relevant step in the liquidation procedure in Bulgaria, according to our Bulgarian company lawyers, is settling any and all payables and debts of the company to other parties. The assets of the company have to be divided amongst all company creditors and any remaining assets of the company shall be divided between all shareholders. This is an out-of-court procedure involving all partners in the company and all creditors.

liquidation of companies

Insolvency procedure against the company

An insolvency procedure against the company may be initiated by any other party during the liquidation procedure, if the insolvency procedure in Bulgaria has been complied with. After this procedure is finalized, a liquidator shall be appointed and the role of the liquidator is to terminate the company. The liquidator may be a former manager of the company, or any other person appointed by the Commercial Register of the Republic of Bulgaria. Our Bulgarian company lawyers are ready to prepare all the documents necessary and to submit them in the court, if the liquidation procedure is required.

The liquidator shall have the right to undertake any and all actions necessary to complete the liquidation and shall represent the company before the competent authorities. The responsibilities of the liquidator shall include, among other things:

– terminating any current deals;

– collecting debts;

– conversion of any assets into cash-at-hand;

– repaying all loans to creditors;

– preparing a balance sheet;

– terminating the company’s accounts.

Any and all new transactions during this period will only take place for converting the assets into money, or concluding any other actions related to the liquidation. A liquidation certificates shall be issued by the National Revenue Agency of the Republic of Bulgaria. This certificate of liquidation, along with the shareholder’s decision to liquidate the company, the appointment of the liquidator and a report, which details the manner for the performance of the liquidation procedure, are to be submitted to the Commercial Register. Our Bulgarian company lawyers can help you with submitting any and all of the legal documents necessary.

Finalizing the company liquidation procedure in Bulgaria

The liquidator of the company has to ensure that all creditors of the company will file their claims. The existing claims may be submitted maximum within six months after the delivery of the liquidation announcement to the creditors. After all liabilities have been settled and all assets of the company have been divided, the liquidator shall take any and all measures necessary for deleting the company from the Commercial Register in the Republic of Bulgaria.

Liquidation of a company in Bulgaria will take not more than six months, also by existing claims. Our Bulgarian company lawyer can prepare all documents necessary and suggest you a legal assistance for dissolving and liquidating the company. For more information, please feel free to contact our office on + 359 2 858 10 25 or send us an e-mail to info@lawyer-bulgaria.bg

June 8, 2016/by lawyer

Posts

Bulgarian Property Lawyer

First Steps

Then we will be ready to start the legal procedure.

Every single case has got its legal specifics & questions.

Mergers and Acquisitions Lawyers in Bulgaria

Differences related to the type of company

Necessary documents. Law Firm in Sofia, Plovdiv & Bansko

Dividend tax in Bulgaria

List of compensations considered as an income in Bulgaria

Corporate Income Tax Act governs taxation of dividends

The tax lawyers in Bulgaria

Tax responsibilities of the recipient?

Litigation Lawyer in Bulgaria

Our Bulgarian litigation lawyers will support you by preparation of legal documents.

Exceptions in the litigation process…..

Some individuals cannot be litigation lawyers in Bulgaria:

What does a litigation lawyer do?

What is the litigation process ?

What every client could expect from a litigation lawyer ?

What to expect on the job

What we offer to the clients ?

Liquidation of Companies in Bulgaria

Legal steps required for dissolution and liquidation of companies in Bulgaria

Insolvency procedure against the company

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

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