Effective July 2025, Bulgaria's mechanism for the screening of foreign direct investments (FDI) is now fully operational. Following amendments to the Investment Promotion Act (IPA) in March 2024, which aligned Bulgarian law with EU Regulation 2019/452, the necessary subordinate legislation has been adopted, concluding the transitional period. Foreign investors from outside the European Union must now navigate a mandatory pre-closing clearance process for investments that could impact national security or public order.
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The upcoming amendments to the Act, which implements the provisions of Directive (EU) 2019/1937, will further define the subject and scope of whistleblowing, enhance protections for whistleblowers, and refine the procedure for handling whistleblower reports.
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Bulgaria is preparing to adopt the euro, having recently adopted a law on the currency shift. Here are some key legal provisions and changes will come into force on the date of the decision to change to the euro.
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With over 30 years of experience assisting international companies and institutions operating in Bulgaria, Penev LLP continued its commitment to providing exceptional legal counsel throughout 2024. Our team remains dedicated to providing outstanding service and achieving optimal outcomes for our clients.
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PENEV LLP contributed to the Clifford Chance Employment Law Guide by preparing the Bulgaria chapter, offering a comprehensive analysis of key aspects of employment law, including employee classifications, workplace policies, and labor regulations specific to the Bulgarian context.
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Update and insight on our legal experts' latest engagements and activities.
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