From 2025 to 2026: TMT in Bulgaria
March 2026
Nikolay Zisov, Partner at our member firm BOYANOV & Co., discussed key trends and developments in Bulgaria's TMT sector in the latest CEE Legal Matters Buzz interview.
You can read the full article via the following link.
Fake Consumer Reviews: Enforcement Practice of the Bulgarian Consumer Protection Commission
February 2026
Trayan Targov, Senior Associate
BOYANOV & Co.
Online shopping is now part of everyday life across Europe, and Bulgaria is also progressing steadily in this area. As of 2024, 73% of Europeans purchased goods or services online compared to approximately 50% of Bulgarians, leaving substantial potential for future growth (European E‑commerce Report 2025).
As e-commerce expands, consumer reviews have become a key driver of online purchasing decisions, especially when product quality or performance cannot be judged from the trader’s description or brand alone.
Consumer reliance…
Implementation of NIS 2 in Bulgaria: Key Changes to the Cybersecurity Act
February 2026
Deyan Terziev, Senior Associate
BOYANOV & Co.
On 17 February, the amendments to the Cybersecurity Act transposing Directive (EU) 2022/2555 (NIS 2) into Bulgarian law enter into force.
The reform significantly restructures the existing framework under the previous NIS 1 regime, broadening the scope of obliged entities, strengthening cybersecurity risk management requirements and introducing explicit governance and management accountability mechanisms.
From NIS 1 to NIS 2: Structural Reform of the Scope
Under the previous NIS 1 framework, the focus was primarily on “operators…
Boyanov & Co. Advises UniCredit Bulbank and Eurobank Bulgaria on Financing of Standalone BESS Near Pleven, Bulgaria
February 2026
Our member firm BOYANOV & Co. advised UniCredit Bulbank and Eurobank Bulgaria on a syndicated financing for the construction of a 200 MWh standalone battery energy storage system (BESS) located near Pleven, Bulgaria.
BOYANOV & Co. drafted the full set of finance documents, including an LMA-based facilities agreement, security package, subordination agreements, sponsors’ undertaking agreement, etc., advised the banks in the negotiations of the finance documents, and assisted in the signing and closing of the financing.
The BESS project received financing from the NextGenerationEU…
BOYANOV & Co. Advises Enery on EUR 250 Million Project Financing for Solar and BESS Projects
February 2026
Our member firm BOYANOV & Co. advised Enery, a leading independent power producer in Central and Eastern Europe, on the Bulgarian law aspects of a portfolio project financing by Československá obchodní banka, United Bulgarian Bank AD and Československá obchodná banka.
The financing enables Enery to accelerate the delivery of 300 MW of solar photovoltaic (PV) capacity and 100 MW/220 MWh of co-located battery energy storage systems (BESS) across four energy markets.
The two financings concerning the projects in Bulgaria were successfully closed at the end of 2025.
The…
Boyanov & Co. Advises UniCredit Bulbank and Eurobank Bulgaria on Financing of Standalone BESS Near Stara Zagora, Bulgaria
January 2026
Our member firm BOYANOV & Co. advised UniCredit Bulbank and Eurobank Bulgaria on a syndicated financing for the construction of a 200 MWh standalone battery energy storage system (BESS) located near Stara Zagora, Bulgaria.
BOYANOV & Co. drafted the full set of finance documents, including an LMA-based facilities agreement, security package, subordination agreements, sponsors’ undertaking agreement, etc., advised the banks in the negotiations of the finance documents, and assisted in the signing and closing of the financing.
The BESS project received financing from the…
Boyanov & Co. Advises ContourGlobal on Financing of Standalone BESS in the Site of Maritsa East 3 Thermal Power Plant
January 2026
Our member firm BOYANOV & Co. has advised ContourGlobal Maritsa East 3 AD on a financing for the construction of a 500 MWh standalone battery energy storage system (BESS) located in part of the site of the thermal power plant Maritsa East 3. This project is part of the strategy of ContourGlobal for a transition to green energy.
BOYANOV & Co. advised ContourGlobal in complex negotiations of the finance documents (facility agreement and security documents) and assisted in the signing and closing of the financing.
The BESS plant is now fully operational and actively engaged…
Boyanov & Co. Advises Eurobank on Financing of Fraport Twin Star Airport Management AD
January 2026
Our member firm BOYANOV & Co. has advised Eurobank S.A. (Greece), Eurobank Bulgaria and Eurobank Private Bank Luxembourg on the financing of Fraport Twin Star Airport Management AD (the concessionaire of the civil airports in Varna and Burgas) on the rehabilitation of the runway of the Burgas Airport, one of the two main civil airports on the Bulgarian Black Sea coast. Fraport AG, which holds 60% in Fraport Twin Star Airport Management AD is a surety for the loan.
The cost of the rehabilitation would exceed EUR 50 million and is planned to be completed by April 2026.
Bulgaria Launches a Digital Nomad Residence Permit
January 2026
Ilina Maltzeva, Associate
BOYANOV & Co.
Introduction: A “digital nomad” is a person who works remotely using technology and combines this with travel and living in different parts of the world. Despite the decline in the remote work trend, digital nomads remain an increasing group of highly mobile experts. Up until now, digital nomads could reside in Bulgaria only on short-term basis (90 days every 180 days) which is no longer the case.
Legislative changes: Long-term residence in Bulgaria is granted normally for one year (with prolongation options) under specific circumstances…
BOYANOV & Co. Won a Valuable Court Battle for Neochim AD Against Its Big Supplier of Natural Gas
January 2026
Our member firm BOYANOV & Co. won a valuable court battle representing Neochim AD – a leading Bulgarian producer of nitrogen fertilizers – in litigation against its big supplier of a key raw material (natural gas).
The dispute, which began in 2023, concluded successfully for Neochim AD on 22 December 2025, at the third and final court instance. The case concerned a substantial monetary claim for amounts not refunded by the supplier for natural gas volumes that Neochim AD did not accept due to force majeure circumstances.
BOYANOV & C0.'s legal team was led by Kina Chuturkova,…
Bulgaria and Indo-Pacific Countries Green Hydrogen Opportunities
December 2025
Petar Andonov, Business Development Director
BOYANOV & Co.
Introduction
The growing global focus on clean energy transitions has placed green hydrogen at the forefront of sustainable development strategies. As Bulgaria advances its renewable energy goals, cooperation with technologically advanced and strategically positioned Indo-Pacific countries such as Japan, Korea, Malaysia, Indonesia and Singapore in the field of green hydrogen as renewable energy source presents significant opportunities for diversification and growth.
Opportunities for Cooperation Between Bulgaria…
Completion of the First-Ever Transfer of a Going Concern Between Insurance Companies in Bulgaria
October 2025
Our member firm BOYANOV & Co. has announced the successful registration of the transfer of the Going concern of OZOF Doverie to Generali Insurance AD – a landmark transaction that marks the first of its kind in the Bulgarian insurance sector.
This pioneering deal sets a new precedent for the industry, demonstrating the possibilities for strategic growth and integration within the insurance market. The transaction completed following all regulatory approvals positions Generali Insurance as one of the largest players in the health insurance segment and reinforcing its commitment…
