by Vesela Kabatliyska and Maya Todorova, Dinova Rusev & Partners

A Q&A guide to employee share plans law in Bulgaria.
The Q&A gives a high level overview of the key practical issues including, whether share plans are common and can be offered by foreign parent companies, the structure and rules relating to the different types of share option plan, share purchase plan and phantom share plan, taxation, corporate governance guidelines, consultation duties, exchange control regulations, taxation of internationally mobile employees, prospectus requirements, and necessary regulatory consents and filings.
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As of 2 March 2019 the Bulgarian Personal Data Protection Act is amended in line with the GDPR regulations. Interestingly, this socalled “implementing act” does not change much, in terms of regulation, the personal data protection climate in Bulgaria. It is safe to say that the Bulgarian personal data protection legislation is among the most stringent even before the dawn of the GDPR. Due to this, part of the regime introduced by the GDPR is more relaxed than the requirements of the previous version of the Bulgarian Personal Data Protection Act having a history as of 2002 in Bulgaria.

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