Petro Tyufekchiev
Managing Associate
Post-qualification and prior to joining NBLO, Petro worked for two years in a fast-paced litigation boutique, where he was responsible for the management of a substantial caseload and a number of paralegal colleagues. Following this, he was a part of the legal team of DSK Bank AD (a large Bulgarian credit institution) where he was responsible for generating internal advice on commercial, corporate and banking law matters. During his professional path, Petro worked for Kaufland Bulgaria where he was a Data Protection Officer and also advised on commercial and corporate legal matters.
Qualifications: Sofia University, LL.M.
Languages Spoken: Bulgarian and English
Office Location: Sofia
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Corporate and M&A
Overview Corporate and M&A work is central to our practice, supporting clients through complex commercial change and strategic business decisions. We advise corporate groups, founders, financial investors and management teams on a wide spectrum of matters, including company reorganisations, strategic investments, acquisitions and disposals, and joint ventures. Our approach is grounded in an understanding of […]
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Corporate Tax
Tax policies and corporate tax regulations are always of strategic importance to our clients in conducting their business and investment. Tax is a major concern for all businesses and individuals. There are tax related aspects in each transaction and business venture, both at the stage of its structuring and set-up, as well as in the […]
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Private Companies
Advising privately owned companies is a core part of our corporate and commercial practice. We work closely with founders, families, and long-term investors across a wide range of industries, providing legal guidance that supports sound governance and sustainable growth. Our lawyers have extensive experience assisting private companies on both domestic and cross-border matters, including incorporations, […]
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Intellectual Property
Overview The protection and effective management of intellectual property is fundamental to the success and long-term value of any business. In an increasingly innovation-driven economy, safeguarding ownership over brands, technologies, products, and proprietary know-how is essential to maintaining a competitive advantage. Intellectual property rights not only protect innovation but also play a critical role in […]
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Bankruptcy and Insolvency Litigation
Overview Businesses can experience financial distress suddenly or over time, driven by market shifts, the loss of key customers, supply chain issues, regulatory sanctions, or internal mismanagement. In these moments, the legal framework around insolvency and restructuring becomes critical: it determines who controls the business, how value is preserved or realised, and what creditors ultimately […]
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Employment Litigation and Restrictive Covenants
Overview Employment relationships are a cornerstone of corporate operations — and a frequent source of legal exposure. Disputes may arise from dismissals, workplace policies, contractual entitlements, or the departure of key personnel. Equally, restrictive covenants such as non‑competition or non‑solicitation clauses can determine how smoothly a business navigates transitions, protects its client base, and preserves […]
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Real Estate Litigation
Bulgarian real estate boomed in 2004-2008 and again (in a smaller wave) around investment in renewables benefitting from FiT-subsidies in 2008-10. These booms created their mirror waves of real-estate litigation and NBLO’s practice since its creation in 2005 has been very much bound up with property dispute representation. We have advised a variety of international […]
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Shareholder, corporate, JV and M&A disputes
In the field of corporate disputes, building on the knowledge acquired in venture and seed fund-raising and investing, M&A and general business law, we seek the best outcome for clients. Our experts advise on potential and actual claims from private M&A and joint ventures on issues connected to breaches of SPAs, SHAs, JV As and […]
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Blockchain and Cryptocurrency
Why Bulgaria Bulgaria has established itself as a practical and efficient base for crypto and blockchain businesses seeking access to the European Union market. Companies incorporated in Bulgaria benefit from EU market access while operating in a jurisdiction known for competitive costs and a technology-friendly environment. Regulatory oversight in Bulgaria is structured and transparent. Authorities […]
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Fintech
Bulgaria’s fintech sectors is fast-growing and innovative. Thanks to exceptional talent, domestically founded companies have become globally competitive actors. Our lawyers are highly knowledgeable about the legal challenges of dynamically changing fintech market. Our commercially minded lawyers deliver high-quality advice on how to effectively safeguard your business and profits. We at NBLO offer a number […]
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Employment
Overview New Balkans Law Office advises both individuals and businesses on the full spectrum of employment law matters arising in Bulgaria. Our team brings rigorous knowledge of Bulgarian labour legislation alongside an awareness of the international standards and frameworks that increasingly shape the modern workplace. Whether acting for a multinational employer navigating local compliance obligations […]
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Insolvency and Restructuring
Overview We assist and advise Bulgarian and international clients on insolvency, corporate restructuring and distressed situations involving Bulgarian entities or assets. In this regard we help creditors, debtors, shareholders and investors protect value, manage risk and navigate Bulgarian insolvency and stabilisation procedures in a focused, commercial and time‑sensitive way. Drawing on strong corporate, finance and […]
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Private Equity
Overview Private equity from inward investing funds is widely regarded as one of the principal sources of corporate finance in Bulgaria. Alternative financing channels remain comparatively limited: capital markets are developing but liquidity levels are still modest, domestic capital available for investment is not always abundant or strategically directed, and corporate debt markets remain relatively […]
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Real Estate
Оverview The Bulgarian real estate market continues to evolve at a remarkable pace. Both the off‑plan (“on greenfield”) construction segment and the secondary market remain highly dynamic, attracting local and international buyers, investors and developers. This environment requires precise legal guidance, thorough due diligence, and a clear understanding of regulatory frameworks and local practice that […]
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Wills, Probate and Inheritance
Overview Many people pass away without leaving a valid will, often assuming that the law will “take care of things” or that their wishes are obvious to those close to them. In practice, this can mean that the people you most want to protect are left exposed, that your assets are not distributed as you […]
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How to Open a Bank Account in Bulgaria as a Foreign Business
In this article, we provide an overview of the criterion that overseas incorporated businesses must generally fulfil in order to open a bank account in Bulgaria. We have restricted our analysis to organisations that are structured as companies or corporations in their home jurisdiction. Although Bulgarian law tends to recognise the legal forms of other […]
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Wills: Types and Legal Requirements
Wills are a core tool in succession planning. Below is a structured overview of their legal requirements, followed by an analysis of their main advantages and disadvantages. What is a will? A will (often called a last will and testament) is a formal legal document by which a person (the testator) determines how their assets […]
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Buyers’ Protection Mechanisms under Preliminary Agreements
Background The economic environment in Bulgaria during the second half of 2025 is marked by exceptional dynamism. With Bulgaria’s accession to the eurozone and the adoption of the euro as the official currency, a wave of uncertainty has arisen regarding the conversion of Bulgarian lev (BGN) into euros. This uncertainty has triggered heightened activity on […]
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Requirements for Provision of Services under Secondment Agreements
The growing demand for skilled workforce compels businesses to adopt more flexible and efficient recruitment strategies. In many cases, large organisations with substantial human resources find it advantageous to establish partnerships with specialised service providers. These partnerships often involve professional support in the process of onboarding new personnel. One such solution is the use of […]
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Requirements for credit servicers and credit purchasers under the Credit Servicers and Credit Purchasers Act
The 51st National Assembly adopted the new Credit Servicers and Credit Purchasers Act 2025 (CSCPA 2025) on the 5th of June 2025, which was then promulgated in the State Gazette issue 50 of the 20th of June 2025. The latter introduced a number of requirements and distinctions regarding the figures of the credit purchasers and […]
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Phantom shares as an employee incentive tool
Bulgaria has recently emerged as a thriving hub for the IT, fintech and outsourcing industries, driven by a strong talent pool and favorable business climate. The country boasts a rapidly growing ecosystem of startups, established tech firms, and international investors drawn by its competitive costs and high-skilled workforce. With increasing digital adoption, a supportive regulatory […]
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Preventing Crypto Disputes: Blockchain’s Legal Considerations
Introduction Blockchain networks allow consumers and businesses alike to enter transactions with each other across the world using cryptoassets, in particular cryptocurrency. Many of these transactions present numerous advantages over their traditional counterparts, such as: Decentralisation – because of blockchain’s peer-to-peer structure, transactions can be executed, documented and registered without the need for any centralised […]
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Conveyancing Guide to Buyers – Bulgaria
Conveyancing is an umbrella term that refers to the legal and administrative work associated with transferring ownership of a real estate property from one party to another. For those looking to purchase a property, the conveyancing process can be overwhelming as a series of standard steps need to be made to complete the transfer. There […]
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Influencer Contracts
Influencer marketing is an attractive marketing option for brands that want to promote their products or services to the influencers’ audiences. When investing in influencer marketing, companies lack the certainty of whether the campaign will be profitable. They are also unsure if the influencer will fulfil the requirements of the campaign. For influencers, agreements to […]
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Influencer and Advertising
Influencers & Advertising is the first in our upcoming series on influencers and the law. Future articles will cover topics such as influencer liability and intellectual property matters. Influencer advertising takes a significant share of advertising spend, especially in sectors such as beauty, luxury and others, but also of general fast-moving consumer goods. The child […]
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Obtaining an online gambling licence in Bulgaria
We detail below certain legal requirements for obtaining an online gambling licence in Bulgaria. Background The Bulgarian Gambling Act 2012 (GA) and its implementing legislation regulate Bulgarian online gambling. Online gambling was first legislated for in 2014. Except for the recent move of regulatory powers from a standalone regulator (the State Gambling Commission) to the […]
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Outsourcing and Digital Projects Development in Bulgaria
New Balkans Law Office (Sofia, Bulgaria) and our colleagues at LCA Studio Legale (Milano, Italy) have the pleasure to invite you to an online seminar on the topic of Outsourcing and Digital Projects Development in Bulgaria. The seminar will take place on 20 January 2021 between 2 pm – 3:45 pm CET. You can register […]
