Licensing regimes and state regulations

If you are looking for legal counsel, regarding licensing regimes and government regulations, then you are in the right place. The main law regulating the general principles concerning all state regulatory and licensing regimes for certain activities performed on the territory of the Republic of Bulgaria is the Law on Restriction of Administrative Regulation and Administrative Control over Economic Activity.

The idea of ​​this law is to facilitate the implementation of economic activity by limiting the requirements for business in starting and developing such initiatives. Still in Bulgaria for a large part, serious administrative, legal and organizational preparation is required, including filling in quite a number of documents, applications, appendices and so on. Therefore, the process of issuing permits and licenses could be very difficult to pass successfully within a reasonable time without the specific legal knowledge and experience of a law firm.

The main regimes for regulating corporate activity can be divided into two segments, namely – licensing and registration. The distinction is based on whether or not there is a possibility for assessment by the administrative body as appropriate. For example, when issuing a license to carry out activity as an investment agent, the Financial Supervision Commission checks not only the legality of the request, but also the expediency of carrying out the specific activity.

During the registration, unlike the licensing regime, no assessment can be made as to the appropriateness. For example, for carrying out activity as a tour operator, the administrative body may not refuse the registration if the applicant has provided all the documents required by law, which certify that all regulatory requirements have been met.

Licensing and registration regime for carrying out economic activity, as well as a requirement for issuing a permit and a certificate or for giving a notification for carrying out a separate transaction or action, may be established only by law.

If you need legal assistance and think that your activity falls within a similar scope, please contact us.

In Ivanchov and Partners Law Firm we offer full and comprehensive legal support in case of need of the following licensing and registration regimes:

– Banking, activity as an electronic money company, activity as a payment institution, as well as activity as a system operator of payment systems;

– Insurance activity, activity as a reinsurer, activity as a special purpose scheme for alternative transfer of insurance risk and activity of an insurance broker;

– Activity as a central securities depository, regulated securities market, investment agents, data reporting service provider, investment company, national investment company, management company or person managing alternative investment funds, as well as a joint stock company with a special investment goal;

– Execution of additional voluntary and obligatory pension insurance and actuarial activity for servicing pension insurance companies;

– Carrying out activity on voluntary insurance for unemployment and / or professional qualification;

– Carrying out health insurance activities;

– Performing activity as a commodity exchange;

– Activity as a customs agent;

– Duty free trade;

– Gambling activity;

– Production, transport, trade and foreign trade with weapons, explosives, ammunition and pyrotechnic articles, as well as with certain dual-use items and technologies;

– Private security activity;

– Activities for design, production, import, trade, repair, installation and maintenance of fire-fighting equipment, performance of fire and emergency safety activities, performance of fire and explosion works;

– Conducting clinical trials, production, trade or import of medicines and medicinal products;

– Industrial processing of tobacco and production of tobacco products;

– Production of alcoholic beverages;

– Performance of the universal postal service or of services included in the scope of the universal postal service;

– Making postal money orders;

– Carrying out the activity of medical establishments for hospital care, centers for mental health, centers for skin and venereal diseases, complex oncological centers and homes for medical and social care;

– Exploration for the presence of deposits and extraction of gas, oil and other minerals;

If you want us to help you resolve legal issues related to licensing and registration regimes, contact us at + 359 2 995 09 08 or email: