Sylvia Marushkina
Associate
Qualifications: South-West University, University of Essex
Languages Spoken: Bulgarian, English, Spanish and French
Office Location: Sofia
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Venture Capital
Overview Bulgaria has become an increasingly attractive jurisdiction for venture capital and technology growth investors. New Balkans Law Office (NBLO) has been actively involved in the development of the venture capital ecosystem in Bulgaria from its early stages. NBLO is an early member of the Bulgarian Venture Capital Association (BVCA). Through the BVCA, we regularly […]
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Business Immigration
Overview International business today operates across borders, and companies increasingly require mobility solutions for their people as well as their capital. Bulgaria is a small and open economy whose labour market benefits from a steady flow of human capital in many directions. When businesses expand internationally, relocate staff or recruit talent from abroad, immigration and […]
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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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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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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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Legal Framework for Alternative Investment Funds in Bulgaria
Alternative Investment Funds (AIFs) have become increasingly important vehicles for pooling capital, including VC, and investing in diverse asset classes including but also going beyond traditional shares, stocks and bonds. In Bulgaria, the regulatory framework for AIFs is defined by both domestic legislation and European Union directives, creating a robust environment for fund structuring and […]
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SAFE Agreements: Comparative Analysis between the US, England & Wales and Bulgaria
Since its introduction by Y Combinator in the US in 2013, the Simple Agreement for Future Equity (SAFE) has become one of the most innovative tools in startup financing. Created to simplify seed-stage fundraising, the SAFE allows companies to raise capital quickly by deferring the valuation discussion until a later priced equity round, typically a […]
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SAFE Agreements: A Modern Solution for Early-Stage Startup Funding
The world of startup financing has advanced rapidly in recent years, with new instruments emerging to meet the specific needs of early-stage ventures. One of the most impactful developments has been the Simple Agreement for Future Equity (SAFE), a groundbreaking structure that has transformed how entrepreneurs and investors approach seed funding. Introduced by Y Combinator […]
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Venture Capital Trends: Legal Insight into High-Growth Sectors
New Balkans Law Office (NBLO) has extensive experience advising UK and EU investors, start-ups, and venture capital (VC) firms across the full investment lifecycle. Our team regularly works at the intersection of law, innovation, and finance, helping clients navigate legal and regulatory complexities in high-growth sectors. This insight is based on our work with founders […]
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Guide to Establishing Business Operations in Japan for European Startups
This guide outlines essential information for establishing a company in Japan or offering tech products to the Japanese market. Due to the stable economy and innovation Japan’s business environment offers significant opportunities. Type of companies Japan’s Companies Act defines four main types of corporate structures, each with distinct characteristics suited to different business needs. Kabushiki […]
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NBLO Participates in BESCO Initiative to Enhance Incentives for Angel Investors
As a law firm specialising in corporate and technology law, NBLO is proud to have recently participated in an initiative of the Bulgarian Startup Association (BESCO), advocating legislative amendments and tax benefits for angel investors in Bulgaria. The initiative aims for a more favourable environment for angel investment in Bulgaria. As part of a working […]
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Invention and Patent Protection Rights
A patent is an exclusive intellectual property right granted for an invention (a product or a process which offers a new technical solution to a problem) and provides the inventors with legal protection against third party claims. Patents benefit society by allowing inventors to protect and monetise technical information whilst being able to release it […]
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Venture Capital Fund Compliance: Regulatory and Legal Aspects
Venture Capital (VC) Fund Managers must ensure robust internal processes and full adherence to legal and regulatory frameworks during and after fund incorporation. Below is a concise overview of key compliance requirements. License and registration with the Financial Supervision Commission VC Fund Managers operating under the supervision of the Financial Supervision Commission (FSC) in Bulgaria […]
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Venture Capital Funds in Bulgaria: A Legal Overview
Bulgaria has emerged as a leading hub for venture capital (VC) activity in Southeast Europe (SEE). Against the backdrop of sustained economic growth in SEE, many international and local investors are drawn to Bulgaria’s increasingly dynamic venture ecosystem. Nature of VC Funds In European legal parlance, VC funds are classified as alternative investment funds (AIFs) […]
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Bulgaria: A Regional Leader in Venture Capital and Innovation
Introduction: Bulgaria’s Emerging VC Ecosystem Bulgaria has emerged as a leading country in Southeast Europe (SEE) for venture capital (VC) activity, managing approximately €500 million in capital through locally established VC funds. A November 2024 report by the Bulgarian Venture Capital Association highlights the country’s role as a regional leader in investment value and deal […]
