What is a Foundation? The Foundation is a non-profit legal entity and with independent property formed by donations. In Bulgaria, the law allows the founders of a Foundation to be foreigners. The Law on Non-profit Legal Entities in Bulgaria regulates everything concerning the establishment, operation and termination of a foundation.Continue Reading
Unfair competition – the essence of the term If you have a business in Bulgaria or are planning to form a company, then you need to know how to protect yourself in case of unfair competition. The Law for the Protection against Unfair Competition (LPUC) is the “tool” that servesContinue Reading
Collecting our receivables One of the most important and pressing issues in the current global economic crisis is related to payments between economic entities, and the so-called large intercompany indebtedness(and collecting receivables in the best way). The deteriorated economic environment creates grounds to multiple delayed payments, and most trade personsContinue Reading
Why would you need a Foundation (NGO)? The end of the offshore era – the Common Reporting Standard (CRS), FATCA and the new challenges for the financial privacy. Bulgarian foundation (NGO) – why would you need one? Long gone are the days when bank secrecy was seen as basic humanContinue Reading
