Legal Framework

In the present situation, with upcoming Schengen membership, the macroeconomic framework of Bulgaria remains favorable for the entry of new investments. The Bulgarian government has taken considerable steps to meet the challenges of the global economic crisis, to maintain Bulgaria’s financial and macroeconomic stability and to improve the business climate.
The current Bulgarian legal system is dynamic and constantly improving, by adopting the modern patterns which reflect economic progress, globalization and political development. The process of harmonization of our legal system with the acquis communitaire, has finished successfully. In Bulgaria, investors will find out that many legal provisions are similar to those regulating other markets, in which they are used to conducting business. In many areas, investors will be pleasantly surprised by the reduced number of bureaucratic requirements and their tendency to operate in an efficient manner and often ahead of schedule. They may also benefit from the establishment of special measures to foster projects where more significant amounts are being invested. The equal treatment of local and foreign investors is a legally determined principle and the areas where this is not currently the case, such as the ownership of land, are in process of reform. The development of the banking sector, the securities’ legal regime and the privatization policies all improve investor confidence by removing areas of uncertainty and risk.

The efficient protection of intellectual and industrial property rights in Bulgaria, is often one of the preconditions for the attraction of investments to the country. A good investment climate in this respect is determined, not only by the accordance of local laws with international standards, but also by the existence of the requisite institutions for the implementation of these legal provisions to prevent the infringement of rights.

Source: Bulgaria Invest Agency