Info Center | Deyan Sotirov | Corporate Lawyer

Clients and visitors being well informed is of primary importance to me (Work Principles). Driven by such understanding I have developed and I am constantly updating this section of the website – called “Info Center” as its primary goal suggests.

My goal is to turn the website into a highly useful source of information and the Info Center is the online tool to be used for achieving such objective. In this section I will publish useful materials and legal news (Procedures, News), as well as individual analyses and opinions on debatable issues from the theory and practice in the field of corporate and company law (Blog).

For ensuring maximum useful effect I have provided online functionality that allows the sending and publication of questions and comments to each of the articles – for online discussion and clarification of the respective topics.

You may find below a web form that allows browsing the articles published in the Info Center by their category. It is a convenient way for visitors to find their topic of interest and to ask a question or send a comment by using the web form at the end of the respective page.

For finding an article (topic) of interest you may also use the search form (in the upper right corner of the website) or visit the Search page and use the respective keywords as per your preference.

All Articles:

Transformation of companies by take-over (merger through absorption)

17.02.2014 | 2 comments | 5866 views | Categories: Procedures Transformation of Companies

Take-over (also referred to as merger through absorption) is a form of transformation. Companies participating in such transformation may be of different types – most often Limited Liability Companies and Joint-Stock Companies. General Information Upon take-over the entire property of one or more companies (transforming companies) is transferred over to one existing company (receiving company) which then becomes their legal successor. The transforming companies are terminated without liquidation which is otherwise needed upon dissolution of an LLC… Read the article

Offshore companies subject to legal regulation

10.02.2014 | 0 comments | 358 views | Categories: News Filings with the Commercial Register

The Act on the Economic and Financial Relations with Companies Registered in Preferential Tax Regime Jurisdictions, the Persons Related to Them and Their Beneficial Owners¹ (the “Offshore Companies Act”) was promulgated in issue 1 of the State Gazette, dated January 3, 2014. The new law was passed as part of the attempt to counteract illegal schemes involving the use of companies registered in offshore zones – legal definition for “preferential tax regime jurisdictions” is available in the Supplementary Provisions of the law, referring to § 1 (64) of the SP of… Read the article

Publication of annual financial statements

22.01.2014 | 2 comments | 996 views | Categories: Procedures Filings with the Commercial Register

Pursuant to the Commerce Act companies are required to summarize the results of their business based on their bookkeeping and inventory records by preparing annual financial statements. The financial statements must give a true and fair picture of the property and the financial status and performance of the enterprise, its cash flows and equity. General Information Every enterprise is put by the Accountancy Act under the obligation to prepare AFS as of December 31 of each calendar year. The annual financial statements need to be drawn up on the… Read the article

Reduction of the registered capital of a company

18.11.2013 | 2 comments | 2785 views | Categories: Procedures Filings with the Commercial Register

The amount of the capital may be changed during the existence of a company. The Commerce Act provides for the reduction of the fixed (stock) capital – i.e., reducing the number that represents its value (the registered in the Commercial Register capital). General Information The reduction of capital is aimed at either the release of property (effective reduction) or bringing the capital into line with the value of the company’s net assets (nominal reduction). There might be various reasons for initiating effective reduction, such as: changes in the… Read the article

Increasing the registered capital of a company

15.09.2013 | 2 comments | 2005 views | Categories: Procedures Filings with the Commercial Register

The amount of the capital may be changed during the existence of a company. The Commerce Act provides for the increase of the fixed (stock) capital – i.e., the registered (entered) in the Commercial Register capital. General Information The capital increase may be pursued in order both to expand the business activity of the company by raising additional funds or other non-monetary resources and to achieve greater trust among current and potential business partners given the guarantee function of the capital, as well as in view of other legal and… Read the article

Registration in the Central Professional Register of Builders

21.08.2013 | 4 comments | 14846 views | Categories: Procedures Licenses and Registrations

Builders carrying out constructions of first to fifth category under Art. 137, par. 1 of the Spatial Development Act or certain types of construction and assembly works, indicated in the National Classification of the Economic Activities, position Construction, are subject to registration in the Central Professional Register of Builders. The registered builders may carry out constructions of the respective group and category that they have been entered into, as well as constructions of lower category within the same group. The Central Professional Register of Builders is… Read the article