Boyanov & Co Partner Nikolay Zisov discusses TMT in Bulgaria in the year past and the one ahead.

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).

On 17 February, the amendments to the Cybersecurity Act transposing Directive (EU) 2022/2555 (NIS 2) into Bulgarian law enter into force.

Boyanov & Co, working with DLA Piper, has advised Eurobank, Eurobank Bulgaria, and Eurobank Private Bank Luxembourg on the financing of Fraport Twin Star Airport Management, the concessionaire of the civil airports in Varna and Burgas.

Boyanov & Co has advised ContourGlobal Maritsa East 3 on financing of a 500-megawatt-hour standalone battery energy storage system to be constructed on part of the site of the Maritsa East 3 Thermal Power Plant. DGKV advised DSK Bank as the lender.

Boyanov & Co has advised UniCredit Bulbank and Eurobank Bulgaria on a syndicated financing for the construction of a 200-megawatt-hour standalone battery energy storage system located near Stara Zagora.

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.

Boyanov & Co has successfully represented the Bulgarian nitrogen fertilizer producer Neochim in litigation against a natural gas supplier.

In The Debrief, our Practice Leaders across CEE share updates on recent and upcoming legislation, consider the impact of recent court decisions, showcase landmark projects, and keep our readers apprised of the latest developments impacting their respective practice areas.

Allen Overy Shearman Sterling, working with its Turkish affiliate Gedik & Eraksoy, BGI Legal, and Boyanov & Co have advised J.P. Morgan as the sole initial purchaser and The Law Debenture Trust Corporation as trustee on Energo-Pro’s EUR 300 million regulation S private placement of 6.45% guaranteed notes, marking the issuer’s debut on the Vienna MTF. White & Case advised Energo Pro.

In The Debrief, our Practice Leaders across CEE share updates on recent and upcoming legislation, consider the impact of recent court decisions, showcase landmark projects, and keep our readers apprised of the latest developments impacting their respective practice areas.

Bulgaria’s cybersecurity landscape is characterized by heightened business awareness of threats and a proactive approach to addressing associated risks. The surge in cyberattacks has led organizations to prioritize and expand investments in cybersecurity training. Notably, nearly half of all recent incidents have affected small and medium-sized enterprises, indicating a need for strong security measures across businesses of all sizes.

The EU Data Act (Regulation (EU) 2023/2854 on fair access to and use of data) became fully applicable on 12 September 2025.

On August 1, 2025, amendments and supplements to the Administrative Procedure Code (APC) were promulgated (SG No. 63/2025). These amendments affect various aspects of the administrative process, and the legislator has established different deadlines for their implementation. Pending proceedings before the administrative body or court will be completed according to the current procedure until the amendments take effect.

With 25 years of SEE Legal behind him and over four decades in the legal profession, Boyanov & Co Managing Partner Borislav Boyanov reflects on how the idea for the regional alliance first took shape, from early conversations with peers to building a network across borders.

Following the adoption of the general framework of the FDI screening in March 2024, the regime was originally expected to become operational in Bulgaria no later than September 2024. This timeline was contingent on the adoption of the necessary secondary legislation, including the amended Rules on the Application of the Investment Promotion Act (the “FDI Screening Act”) as well as the Rules on the Organization and Functioning of the Interdepartmental Council on FDI Screening.

On 1 July 2025, the provisions of the Civil Procedure Code (CPC) regulating the new provisions in Chapters Thirty-Six ‘Issuance of a Writ of Execution’ and Thirty-Seven ‘Order for Payment Proceedings’ came into force, after the original date was postponed by one year. Also on 1 July 2025, the amendments to Regulation No. N-2 of 18 February 2020, issued by the Minister of Justice, came into force.

Bulgaria’s Technology, Media, and Telecommunications (TMT) sector is continuing its steady and dynamic growth, reflecting the country’s ongoing digital transformation and its increasing role as a regional technology hub.