The Joint Venture and the Insolvency of the Leader

In this article, NNDKP Partner Radu Damaschin discusses the concepts of joint venture and insolvency under Romanian Law.

The New Medical Devices Act in Serbia

BDK Attorney at Law Bisera Andrijasevic provides an overview of the implication of the new Medical Devices Act in Serbia. The new Medical Devices Act, which had entered into force already on 1 December 2017, became applicable on 1 December 2018. The adoption of this legislation marks the beginning of distinct legal treatment of medical devices, separate from the treatment of medicinal products which remain regulated by the old Medicines and Medical Devices Act.

The Academy of American and International Law - an Extraordinary 5-week Educational Program in the U.S.

The Academy of American and International Law is particularly valuable for lawyers outside the U.S. who work for multi-national corporations or for law firms that represent either U.S. clients or multi-national clients with U.S. interests. BOYANOV & Co. supports the Academy and since 1990 regularly sends participants. Mr. Borislav Boyanov, Managing Partner at BOYANOV & Co., has been the first Bulgarian participant at the Academy and since its attendance in 1990 is a Member of the Advisory Board of the Academy of American and International Law (formerly, the Southwestern Legal Foundation).

Bulgarian List of Processing Operations Requiring Data Protection Impact Assessment

The Bulgarian Commission on Personal Data Protection adopted a list of processing operations for which it would be mandatory for controllers to conduct data protection impact assessments. The controllers whose main or only place of establishment is on the territory of the Republic of Bulgaria will be required to conduct a data protection impact assessment in all cases when a specific processing is likely to result in a high risk to the rights and freedoms of the individuals.

New Era in Assignment of Building Inspection Institutions: Electronic Appointment

The amendments made to the Law No. 4708 on Building Inspection and the Regulation on Implementation of Building Inspection to eliminate building inspection weaknesses caused by the close commercial ties between building inspection institutions and building contractors, entered into force on 1 January 2019. The amendments introduce transparent assignment of the building inspection institutions through electronic system.

BOYANOV & Co. Contributed to the Bulgarian Chapter on Private Equity

Yordan Naydenov, Partner and Head of Corporate and M&A Practice Group and Dr. Nikolay Kolev, Counsel at BOYANOV & Co. contributed to the third edition of Private Equity, published by Thomson Reuters in 2018, London with general editors Charles Martin and Simon Perry.

BDK Advokati on Legal Practice for the Life Sciences Industry in Serbia

Bogdan Ivanisevic, partner, and Bisera Andrijasevic, associate, authored the Serbian chapter in the 2019 edition of Getting the Deal Through – Life Sciences 2019.

Amendment to Turkish Code of Obligations: Recent Developments on Real Estate Lease Agreements

New Cap on Lease Amount Increase Rate: Consumer Price Index It was determined in the Medium-Term Plan pertaining to the years 2019-2023, published last September, that the cap on lease amount increase rate will be the Consumer Price Index (the "CPI") rather than the Producer Price Index (the "PPI"), as the PPI rate was highly affected by fluctuations in foreign currency and commodity prices. In this regard, initially, the Communique on Decree No. 32 on Protection of the Value of Turkish Currency (the "Communique on Decree No. 32") was amended to regulate that under certain circumstances, the lease…

Gambling Advertising – in the Spotlight

Andrei Cosma, Associate in the Gaming team at SEE Legal's Romanian member NNDKP, authored an article in the Casino Inside magazine on the gambling advertising and the related regulatory measures: NNDKP has drafted several articles in time on a common topic, namely gambling advertising and the related regulatory measures. The reasons are obvious since anyone who had minimum contact with the industry already knows that gambling advertising is probably the favourite subject for discussions and (sometime) regulation for the decision-making factors. At the end of 2018, we are facing the situation…

Romanian Tax Talk

Marius Ionescu, Tax Partner and one of the Coordinators of NNDKP Tax Advisory Services, featured in an exclusive article in Business Review focused on Romania's fiscal regime. "The profit tax of just 1 percent for companies with a turnover under EUR 1 million, the 5 percent tax rate for dividends, the 10 percent income tax applicable on capital gains on exit and the special tax provisions for holding firms make Romania an attractive market for startups at regional and European level", says Marius. To read the entire article, please visit Business Review.

Romania Doubles Down On Online Tax

Have the Romanian government priced online operators out of the Romanian market with this new tax?Over the festive break, the Romanian government introduced a series of new taxes and financial caps aimed at improving the welfare of Romanian citizens, targeting areas including banking, retail, alcohol, tobacco and local infrastructure. Among the new taxes introduced was a 2% tax on egaming operator turnover, which will now be paid by operators in addition to the 16% tax on gross gaming revenue currently being paid, meaning that operators will now pay a total tax of 18% from 2019. It was…

SEE Employment & Immigration Handbook 2018

SEE Legal Group has released its second edition of the Southeast Europe Employment & Immigration Handbook. The Handbook aims to provide to in-house counsels, human resources professionals and legal practitioners a helpful tool in understanding the legal framework regulating employment and immigration in the 12 jurisdictions of South East Europe. It highlights all the important aspects in the employment relations, such as hiring, amendment and termination of employment, salary and benefits payment and their taxation, working hours, vacation and other leaves, health and safety at work, non-compete…