Yavor Markov
Senior Associate
With a background in European law and experience in studying and working in Germany and the Netherlands, Yavor is well-suited to provide a true cross-border perspective on our clients’ cases. Before joining NBLO, he worked in the Bulgarian central bank and was also a trainee at the ECB.
Yavor is also familiar with the private sector, where he used to work for a commercial bank and another well-known Bulgarian law firm.
Qualifications: Sofia University, LL.M. (2013); Radboud University Nijmegen - LL.M. in European Law (2015)
Languages Spoken: Bulgarian, English and German
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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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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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 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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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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Family and Children
Overview Family and children matters often involve deeply personal issues combined with significant legal and financial consequences. New Balkans Law Office advises individuals and families on a wide range of family law matters connected to Bulgaria, with particular strength in cases involving an international or cross-border element. We understand that family disputes and decisions can […]
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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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How Bulgaria’s New Lobbying Act Reconfigures the Legal Framework for NGO Advocacy
The new Bulgarian Transparency and Integrity in Governance Act (the Act) introduces a specialised regime for representation of interests before public authorities that clearly extends to NGOs, including charities, engaged in structured advocacy. For many organisations, policy work will now sit within an explicit public‑law framework, with registration and reporting obligations layered on top of […]
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Substantial Amendments to the Arbitration Act 1988: Institutionalisation of Arbitration Proceedings in Bulgaria
Over recent years, arbitration in Bulgaria has faced a marked decline, largely due to growing concerns that it has been misused to facilitate fraudulent practices, a suspicion confirmed by the authorities on multiple occasions. In response, a significant reform was implemented in 2017, which excluded consumer disputes from the scope of arbitration. Nevertheless, public trust […]
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Donations for Establishing Private Benefit Foundations: Evidence Requirements and Collection Accounts
The establishment of a foundation in Bulgaria represents a specific procedure that requires the provision of property through donation. Unlike associations, which are based on membership, foundations are created with a unilateral founding act of donation. When establishing a private benefit foundation, the founder must familiarise themselves with the specific requirements for different types of […]
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Property Relations Between Spouses in Bulgaria: During Marriage and Upon Divorce
In Bulgaria, spousal property relations are regulated by the Bulgarian Family Code 2009 (‘FC’), which establishes clear legal regimes to define ownership, management, and division of property between spouses during marriage and upon its dissolution. Understanding these regimes is essential for spouses to know their rights and obligations concerning property acquired before and during marriage. […]
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The Principle of Proportionality in Regulatory Matters
In the following, we briefly outline the interplay between the legal principle of proportionality and the EU Charter of Fundamental Rights (‘Charter’). The principle of proportionality plays a crucial role in regulatory matters by ensuring that legislative and administrative actions do not exceed what is necessary to achieve their objectives. The Charter, on the other […]
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The GDPR Requirement for Maintaining Records of Processing Activities
The General Data Protection Regulation (GDPR) transformed the data protection landscape by introducing extensive and detailed obligations on personal data controllers. These requirements reflect the level of risk associated with processing personal data, the number of individuals with access, the volume and sensitivity of the data involved, and related considerations. Given these nuanced criteria, determining […]
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Registration of Variable Capital Companies in Bulgaria Now Possible
After a long anticipation, the Bulgarian Company Registry surprisingly announced on a Sunday – 15 December 2024 – that it is now possible to register variable capital companies (VCC). The news comes significantly in advance of the new statutory deadline of 31 March 2025 given to the Registry after it failed to comply with the […]
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Tax Treatment of Interest-Free Loans Between Related Parties
Interest-free loans between related parties are common practice in the corporate world, but they carry specific tax risks and requirements regulated by the Corporate Income Tax Act 2007 (CITA). In this context, it is crucial for companies to understand and comply with the tax rules to avoid penalties and adverse consequences. Definition and scope of […]
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The Right of First Refusal in Bulgarian corporate law
A Right of First Refusal (ROFR) gives existing shareholders or a company the first opportunity to purchase shares or assets before the owner can sell them to a third party and prohibits the seller from subsequently selling the asset to a third party on better terms than those offered to existing shareholders. Such rights are […]
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Bulgaria’s inadequate Hague Convention compliance – returns of internationally abducted children – case before the European Court of Human Rights
In a case in which NBLO acted for the applicant and against the Bulgarian Government, the European Court of Human Rights (ECtHR) recently handed down its judgement concerning a refusal to return an internationally abducted child. The applicant, whose child was abducted by the child’s mother, had duly applied to the Bulgarian courts pursuant to […]
