Best Corporate Governance Lawyers in Sofia

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Georgiev & Petrov Law Firm
Sofia, Bulgaria

Founded in 2018
30 people in their team
Bulgarian
English
Corporate & Commercial Corporate Governance Administrative +14 more
A cornerstone of our services lies in Company and Corporate Law, encompassing company, association, and foundation registrations; mergers; acquisitions; splits; spin-offs; changes of legal form; share or stock transactions; and company liquidation and insolvency proceedings.We are a Bulgarian team...
Geffen Law Firm

Geffen Law Firm

15 minutes Free Consultation
Sofia, Bulgaria

Founded in 2010
2 people in their team
Bulgarian
English
Russian
Hebrew (modern)
Corporate & Commercial Corporate Governance Business Registration +7 more
Geffen Law Firm - Legal Support in Bulgaria for Real Estate, Business & ResidencyGeffen Law Firm is a Sofia-based boutique law practice providing practical and results-driven legal solutions to international clients-especially from Israel, Germany, and the UK-looking to invest, live, or expand...
P&N law
Sofia, Bulgaria

Founded in 2023
4 people in their team
Bulgarian
English
Italian
Corporate & Commercial Corporate Governance Government Relations & Lobbying +4 more
A boutique law firm in Bulgaria specializing in corporate, commercial, and intellectual property (IP) law offers personalized legal services to businesses and individuals. This firm provides expert advice on company formation, mergers and acquisitions, contract negotiations, and compliance with...

English
Rinex Imoti, established in 2016, has rapidly become a prominent real estate agency in Bulgaria, specializing in property rentals and sales. With a dedicated team of professionals, the firm offers a comprehensive range of services, including real estate consultancy, property management, and legal...

Founded in 2019
7 people in their team
Bulgarian
English
Borislavova & Ivanov is a modern law firm in Bulgaria that has organized its business following the example of the world's leading law firms. Our main mission is to provide high-quality services to our clients - citizens, companies, non-governmental organizations, government bodies. Our clients...
Ivanov&Yonkova Law Firm
Sofia, Bulgaria

Founded in 2019
2 people in their team
English
German
French
Bulgarian
Ivanov & Yonkova Law Firm has been established in January 2019 by Doychin Ivanov, attorney-at-law, and Tsveta Ivanova-Yonkova, attorney-at-law after every one of them acquired more than 10 years of legal experience. For the past years since then Ivanov & Yonkova Law Firm established itself...
Lawyer Venelin Yordanov
Sofia, Bulgaria

Founded in 2009
10 people in their team
Bulgarian
English
About UsLaw office "Yordanov" was founded in 2009 and is located in Sofia Center. We offer legal services and legal assistance to citizens, companies and NGOs. The lawyers can assist you in consulting and filing cases against Toplofication, cases against CEZ, cases against Sofia Water, cases...
NEW BALKANS LAW OFFICE
Sofia, Bulgaria

Founded in 2005
15 people in their team
Bulgarian
English
Russian
German
Japanese
The founding NBLO partners wanted to create a law firm whose clear primary focus was on Bulgaria but which would also operate to some extent as a dual jurisdiction legal consultancy providing both Bulgarian law and UK law advice; this was succeeded by the opening of both offices in Bulgaria and...
Legal Frame

Legal Frame

15 minutes Free Consultation
Sofia, Bulgaria

Founded in 2019
5 people in their team
English
Bulgarian
Russian
Legal Frame Law Firm was established in 2019. Since then, he has been successfully protecting the interests of his clients, offering complex legal services. Our range of services is in the fields of company and financial law, data protection, property and family law, civil and administrative law....

Founded in 1992
5 people in their team
English
Italian
Russian
  Dyankova & Stoichevska Law firm is  dynamic international firm specializing in legal services.We  eliminate the frontiers  and differences between legal systems by pressing one key.  What sets us apart is our unique approach - all our lawyers are linguists,...
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About Corporate Governance Law in Sofia, Bulgaria

Corporate governance refers to the system of rules, practices, and processes by which companies are directed and controlled. In Sofia, Bulgaria, corporate governance is crucial for ensuring the accountability, fairness, and transparency of a company's relationship with its stakeholders, including shareholders, management, customers, government, and the community. Bulgarian corporate governance law aims to provide a stable legal framework that aligns with international best practices and EU standards. It covers issues such as shareholder rights, board structure, transparency, company management, and disclosure requirements.

Why You May Need a Lawyer

Corporate governance has significant legal implications for companies of all sizes. Individuals and businesses in Sofia may require a lawyer specializing in corporate governance for a variety of reasons, such as:

  • Ensuring compliance with Bulgarian and EU regulations.
  • Drafting or reviewing internal policies, procedures, and codes of conduct.
  • Resolving disputes among shareholders, directors, or stakeholders.
  • Advising on mergers, acquisitions, and restructuring.
  • Handling cases of conflicts of interest or breaches of fiduciary duty.
  • Providing guidance on public disclosures and reporting requirements.
  • Representing the company in administrative proceedings or litigation.
  • Assisting with the establishment and governance of boards of directors and committees.
  • Helping foreign investors understand local corporate governance rules.

Local Laws Overview

Corporate governance in Sofia is primarily regulated by the Bulgarian Commercial Act, the Public Offering of Securities Act, and the Accountancy Act. For listed companies, the Financial Supervision Commission and the Bulgarian Stock Exchange also set governance requirements. Key aspects include:

  • The structure and duties of the board of directors or supervisory board in joint stock and limited liability companies.
  • The rights and responsibilities of shareholders, especially minority shareholders.
  • Requirements for transparent disclosure of financial and other key information.
  • Procedures for annual general meetings and voting rights.
  • Obligations to disclose conflicts of interest and related-party transactions.
  • Guidelines for remuneration policies and performance incentives.
  • Mandatory annual external audits for certain types of companies.
  • Sanctions and remedies for breaches of corporate governance obligations.

Frequently Asked Questions

What is the minimum structure required for the board of a Bulgarian company?

In Bulgaria, a limited liability company can be managed by one or more managers, while a joint stock company can choose between a single-tier or two-tier system with a board of directors or a supervisory and managing board.

Are there specific rules for protecting minority shareholders?

Yes, Bulgarian law provides minority shareholders with rights such as access to company information, the ability to call general meetings, and the right to challenge illegal decisions in court.

Do Bulgarian companies have to follow a corporate governance code?

Listed companies must comply or explain discrepancies with the National Corporate Governance Code. Unlisted companies are encouraged but not strictly required to follow its recommendations.

What are the disclosure requirements for Bulgarian companies?

All commercial companies must keep accounting records and file annual financial statements. Public companies face stricter recurrent and ad hoc disclosure requirements on financial performance, management, and significant events.

How are conflicts of interest managed?

Management and supervisory board members must avoid conflicts of interest and disclose any direct or indirect interests in company transactions. There are penalties for failing to declare conflicts.

Can foreign nationals serve as company directors in Bulgaria?

Yes, both Bulgarian and foreign nationals can serve as company directors or managers, subject to certain legal requirements and restrictions.

What are the key responsibilities of the board of directors?

The board is responsible for the overall management of the company, including strategic planning, policy development, compliance, risk management, and overseeing executive actions.

What happens if a company breaches corporate governance obligations?

Companies and individuals can face administrative sanctions, civil liability, and, in some cases, criminal penalties. Courts and regulators may impose fines or even remove managers in cases of serious violations.

How often must companies hold general meetings?

Bulgarian companies must hold at least one general meeting of shareholders per year, where annual reports and other key issues are discussed and approved.

What is the role of the Financial Supervision Commission?

The Financial Supervision Commission oversees compliance with securities laws and governance rules for public companies, including monitoring disclosures, licensing, and enforcement.

Additional Resources

If you are looking for more information or support on corporate governance in Sofia, the following resources and bodies can be helpful:

  • Financial Supervision Commission (Komisia za finansov nadzor) - Regulatory authority for financial markets and listed companies.
  • Bulgarian Stock Exchange - Provides governance rules and best practice guides for listed entities.
  • Bulgarian Chamber of Commerce and Industry - Business support and information on corporate regulations.
  • National Corporate Governance Committee - Oversees the National Corporate Governance Code.
  • Registered law firms and legal aid services in Sofia - For legal advice and representation.

Next Steps

If you or your business needs assistance with corporate governance issues in Sofia, it is advisable to:

  • Gather all relevant company documents, including charters, policies, and recent meeting minutes.
  • Write down the specific issues, questions, or disputes you need help with.
  • Seek out a qualified lawyer or legal consultant with experience in Bulgarian corporate governance.
  • Schedule a consultation to discuss your situation and possible next steps.
  • Stay informed about any legislative changes affecting corporate governance in Bulgaria.

Approaching a legal professional early can help prevent problems, ensure ongoing compliance, and protect your rights as a shareholder, director, or business owner.

Lawzana helps you find the best lawyers and law firms in Sofia through a curated and pre-screened list of qualified legal professionals. Our platform offers rankings and detailed profiles of attorneys and law firms, allowing you to compare based on practice areas, including Corporate Governance, experience, and client feedback. Each profile includes a description of the firm's areas of practice, client reviews, team members and partners, year of establishment, spoken languages, office locations, contact information, social media presence, and any published articles or resources. Most firms on our platform speak English and are experienced in both local and international legal matters. Get a quote from top-rated law firms in Sofia, Bulgaria - quickly, securely, and without unnecessary hassle.

Disclaimer:
The information provided on this page is for general informational purposes only and does not constitute legal advice. While we strive to ensure the accuracy and relevance of the content, legal information may change over time, and interpretations of the law can vary. You should always consult with a qualified legal professional for advice specific to your situation. We disclaim all liability for actions taken or not taken based on the content of this page. If you believe any information is incorrect or outdated, please contact us, and we will review and update it where appropriate.