BCC: Announcing our line up for Global Annual Conference

In just under 3 weeks, we will be welcoming you and your members to the QEII Centre in London.

We have an amazing host, Ayesha Hazarika MBE and a superb line up of UK and international speakers including:

• Sir Keir Starmer MP, Leader of the Opposition;

• Andrew Bailey, Governor of the Bank of England;

• Baroness Martha Lane Fox CBE, BCC President;

• Linzi Boyd, Global speaker and serial entrepreneur; and a

• Senior Treasury Minister (details to be revealed soon).

Get ready to download the event app! Next week we will be sharing full details about the 2023 app. Make sure to download it to see attendees, programme, speakers and more. The 2023 Global Annual Conference will be a key moment for our Chamber Network so make sure you and your members don’t miss out!  

Dear BBBA members,

The BBBA committees have been working actively in the past years to help us grow our network and activities. Many new ideas for transforming services and events have come from these groups.
We would like to open the committee meetings for new participants who would add their energy and expertise.
Join us for the Education committee meeting as follows:

4th of May, 3 p.m. – BBBA Education Committee Meeting

If you’d like to join, please e-mail us at office@bbba.bg. 

Ascryptocurrencies become increasingly popular, it is vital to engage in safe andthorough wealth planning around cryptocurrency investments. A recent survey byHANetf revealed that approximately 75% of major wealth management firms acrossEurope expect to embrace cryptocurrencies over the next 12 months.

Giventhe intangible and autonomous nature of crypto assets, traditional wealthplanning methods are often insufficient to efficiently protect and manage suchcrypto tokens. With the broader context of a heightened risk of fraud in themarket nowadays, this further enforced the need for safer token managementstandards.

Besides,when securing tangible assets, traditional tools and methods, such as wills,can be relied upon and prepared by lawyers to outline the relevant clauses andconditions clearly,However, due to the unique nature of cryptocurrencies,traditional methods may not be sufficient to provide adequate protection andmanagement of tokens.

Storing and Accessing Crypto Assets

Cryptowallets are necessary to securely store and trade cryptocurrencies. Investorsmay also rely on them closely to protect and validate transaction information.

Buildingupon that, other methods that can be used to store crypto assets, include cryptocurrencyexchange web platforms,applications and different types of wallets, such asweb-based or mobile wallets (known as ‘hot wallets’) and hardware-based walletslike computers (referred to as ‘cold wallets’).

Toaccess crypto assets or transfer them, an owner typically needs the publicaddress (to receive funds) and the private key (to spend funds). However, oneof the biggest security risks is the loss or theft of the private key.Therefore, some investors choose to split their assets and store them indifferent locations; while others use “two-factor authentication” to gainaccount access, requiring a one-time-use code in addition to the primarypassword.

Regulatory Differences

Itis good practice to identify the applicable regulations to crypto assets inone’s country of residence.. This is especially important when many countriesstill lack clear regulations surrounding the platforms that operate and providecrypto asset management services.

Forexample, in Bulgaria, a centralised check can be performed at the BulgarianNational Bank on all cards, bank accounts, and safety boxes held in the name ofa deceased person.

Wealth Planning

Lastly,it is critical to plan ahead for the transfer of digital assets to heirs toensure they have access to the funds and cryptocurrencies.  It is recommended to choose a trusted person(or persons) to share details in advance and write instructions on how they canaccess the crypto assets.

Theseinstructions should include where the currency is stored, private keys, seedphrases, and other relevant information about how to operate the funds.Additionally, locking information on crypto assets and respective pins indifferent safety boxes is an alternative solution if a significant amount ofcrypto is kept on hardware.

Inconclusion, safe and secure crypto wealth planning is crucial to protecting andmanaging cryptocurrency investments. For more information on crypto wealthplanning, please contact us at cryptodesk@newbalkanslawoffice.com. You can alsolearn more about NBLO’s works with wills, probate and inheritance services at https://www.newbalkanslawoffice.com/practice-areas/wills-probate-and-inheritance/.

You can read more publications from the New Balkans Law Office at the links below.

Alternative Investment Funds as a Tool for Diversifying Investments

Bulgaria’s start-up visa: a route into EU markets

Benefits of Shareholders’ Agreements

How to prove my Source of Funds/Source of Wealth from crypto asset profits

Investor protection before the European Court of Human Rights

A Comparative Study of the Leading IP Box Regimes in Europe

CAMP LOCATION 1 – SOFIA

Dates:  Monday 3rd-Friday 7th July

Venue: Anglo American School of Sofia

Time: 09:00-15:00

Ages: 6 to 13 years

Format: Sessions are fun and creative, delivered by UEFA qualified coaches

Cost: €300.00, or €250.00 if purchased by 28th February. Daily option of €70.00.

Including: – End-of-course certificate, academic report and awards ceremony with prize-giving- Full training kit 

Set on the beautiful and calm grounds with a mountain backdrop, the BFS summer training camp at the Anglo-American School brings together children from across Sofia to provide learning entirely in English, complement cognitive skills and enhance participants’ level of concentration and participation. Values such as fairness, teambuilding, equality, discipline, inclusion, perseverance and respect will be taught.

CAMP LOCATION 2 – PRAVETS

Dates: Monday 17th to Saturday 22nd July

Venue: Hyatt Regency Pravets Resort 

Time: 09:00-16:00

Ages: 6 to 13 years (in two groups, 6-8 years and 9-12 years)

Format: Sessions are fun and creative, delivered by UEFA qualified coaches

Cost: €400.00

Including: – End-of-course certificate, academic report and awards ceremony with prize-giving – Full training kit

Top sporting facilities available to guests includes a 3000sqm wellness center hosting a 25m heated indoor pool and separate children’s pool, a delux fitness center, tennis courts, an 18-hole Championship golf course and state-of-the-art golf academy with an extensive practice area. There is also a panoramic fine dining restaurant, three restaurants, cheek bars, solar terraces, and a Kids Club with supervised activities and entertainment. The football field for the the camp is just 5-min drive from the hotel at the Pravets Sports Complex, which is also hosting summer camps for professional football teams.

CAMP LOCATION 3 – SOZOPOL

Dates: Monday 24th to Saturday 29th July

Venue: Santa Marina Resort, Sozopol, Bulgaria 

Time: 09:00-16:00

Ages: 6 to 12 years (in two groups, 6-8 years and 9-12 years)

Format: Sessions are fun and creative, delivered by UEFA qualified coaches

Cost: €400.00

Including: – End-of-course certificate, academic report and awards ceremony with prize-giving – Full training kit

The football camp will take place on the resort complex of Santa Marina, which boasts beaches and offering breathtaking sea views coupled with a variety of green surroundings. With the sea breeze and fresh air, excellent training conditions are created! Available to guests is a beach, 5 swimming pools, 4 kids pools, solar terraces, 4 themed restaurants, children’s playground and animation program in three languages, 2 supermarkets, 3 pool bars, cafés, different shops, 2 wellness centers and hairdresser, medical center, tennis club with 8 courts and our, football field. The hotel offers short transfers to Sozopol, which offers a relaxed lifestyle full of chic restaurants, bars and exciting entertainment. On the first day participants are met by company representatives at Burgas airport and driven to the accommodation. Santa Marina resort is a four-star hotel located on the beach with very nice facilities. Each room is ensuite and linen is regularly changed. The all-inclusive menu boasts three meals a day – breakfast, lunch and dinner – with a wide variety of modern cuisine to keep a balanced diet through the training period. Children under the age of fourteen must be accompanied by a legal guardian, we are happy to discuss different accommodation options. Coaches will run five hours of trainings each day, and when the temperature rises during the middle of the day the players will learn about tactics and enhance their football knowledge through interactive classes. On the final camp day the children will participate in a small tournament against local teams.

The coronavirus crisis did not affect so much the office property market in Bulgaria because Bulgaria has the advantage of having an educated workforce. Big companies are even increasing their offices in Bulgaria. However, the war gives uncertainty, which affects the market. Many big decisions are not made by big companies, which cannot help but affect the development of this industry. This is what BBBA Member Adina Welsh, CEO of RPHI, said in the first edition this year of the multi-platform project Talk 23 on Bloomberg TV Bulgaria with host Kalina Donkova. 

Welsh pointed out that inflation and rising prices are also affecting the development of more green buildings. “Meanwhile, there is an acceleration of all green policies in many more directions globally. The industry is the first to see the new green measures,” she added.

Welsh also commented on the reasons why Romania has nearly 800 certified green buildings and Bulgaria only 79. The short answer, she said, is that it’s simply worth it – such buildings have much better efficiency; are more attractive in terms of investment; and will retain their price much longer.

The guest said implementation of green policies needs to happen on a much larger scale. She pointed out that in some cases tax policies are punitive and get in the way because they are not thought through. “There is a need for great capital expenditures in older buildings because new buildings are easy,” the guest said.

She thinks Sofia has great potential, and for Bulgaria to catch up with Romania in terms of “green” buildings, it all needs to start at education level.

You can watch the whole interview in Bulgarian here.

DGKV is delighted to share that for the seventh year in a row our Trademark lawyers reaffirmed their excellent reputation in Intellectual Property Law being acknowledged as Tier 1 law firm for trademark work in the 2023 ranking of the prestigious international directory IP STARS (Managing IP) 2023 for Bulgaria.

DGKV’s IP practice group head is Kalina Tchakarova. The practice group is staffed with certified trademark attorneys and fully qualified lawyers, where it currently consists of two senior associates and two associates. DGKV IP team has the excellent understanding of the IP issues faced by industries from food and beverages production and distribution to automotive, energy, pharma, telecommunications, tobacco, entertainment, software development, cosmetics, chemicals, technology, etc. 

DGKV’s lawyers are recognized leaders in the field of IP law, providing unparalleled guidance to start-ups firms and helping them establish, prosecute and protect their vital IP assets.

IP Stars has been researching and ranking IP firms in over 70 jurisdictions since 1996. Managing IP revealed the 2023 rankings of the leading firms for trademark filing/prosecution and contentious work, covering more than 50 jurisdictions.

The rankings are based on extensive six-month research of the strengths of the respective IP team, the workload, the record of accomplishments, as well as on the client and peers’ feedback. 

Leading legal guides such as Chambers and Partners, World Trademark Review, and Media Law International DGKV’s IP Practice group have persistently top ranked the law firm’s IP practice and its distinguished experience in trademarks.

Congratulations to the team!

Postbank team planted over 2,000 saplings on International Earth Day – 22 April – as part of the large-scale initiative Sofia’s New Forest – 2. Over 100 volunteers from the financial institution contributed time, work and effort to the reforestation of new woodlands in the suburban areas of Sofia, in the land of the village of Negovan. Postbank joined the project for the second year in a row, as part of its overall internal environmental protection programme Green Together with Postbank and in line with the company’s long-standing sustainability policy. Under the motto Lend a Hand to Sofia’s New Forest, the institution’s team planted over 1,000 trees on the designated site last year. The plan for the spring edition of the campaign in 2023 is to reforest 32 new decares with a total of 20,000 deciduous saplings of the tree species Cerris (a member of the Oak genus). 

“Every socially responsible initiative in which Postbank’s team volunteers is very important for us because it symbolizes our constant efforts to build a new type of thinking and attitude towards the environment and the conservation of natural resources. Our participation in Sofia’s New Forest – 2 for a second year in a row is even more special now, as we carried it out on International Earth Day, and we were able to plant a record number of saplings, thanks to the team spirit and joint efforts of our close-knit team. Motivated by our shared values and vision for a greener future, together we strive for sustainable development and more environmentally friendly behaviour for the well-being of the whole society,” Postbank said.

The forest near the village of Negovan is part of the large-scale project Sofia’s New Forest – 2, with which Sofia Municipality is planting new woodlands in suburban areas of the city as part of measures to improve air quality. The initiative was launched last spring and aims to turn a total of 137 decares of municipal unusable agricultural land in the area of the village of Negovan, Novi Iskar district, into a forest. After the two reforestation campaigns in 2022, a total of 30,500 Cerris saplings are already growing on the site on a total area of 48.8 decares.

Postbank’s multi-layered corporate social responsibility policy includes a number of significant projects in the fields of education, entrepreneurship, environmental protection, sports and corporate donations. One of its main areas is green initiatives, because caring for the environment has a special place for the institution. It is part of its business model and among the top priorities for management. Among the largest of these are GreenOutdoor Stories, in which employees improved an eco-trail in the Golden Bridgesarea of Vitosha, the internal initiative Heroes in Green, which promotes environmentally responsible behaviour among the bank’s team, together with the Green Classroom project, which is the construction of an innovative amphitheatre area designed to learn and have fun in nature, implemented in partnership with Mastercard and Vitosha Nature Park.  

Postbank’s targeted actions in the field of environmental protection have been repeatedly awarded in various competitions for sustainable initiatives and CSR programs. In the annual Golden Heart charity and corporate social responsibility awards of Business Lady magazine and club and Bulgaria Business Review magazine for 2022,the financial institution won the Green Planet award with its Green Classroom project in partnership with Mastercard. During the 12th edition ofb2b Media’s national competition The Greenest Companies in Bulgaria in 2022Postbank won two gold awards in the Green Education Initiative and Green Idea categories. The financial institution also deservedly won Bank of the Year in the 30th anniversary edition of the annual awards of the Bank of the Year Association.

More information on Postbank’s green initiatives can be found here.

Dental implants are used as replacements for missing teeth.

Every replacement of a missing tooth by an implant consists of three elements: the implant itself (made of titanium), abutment (the connecting part between the implant and the crown) and crown (the thing, that is actually present in the mouth). The abutment and the crown can be technically merged into a single unit or remain separate. The materials used can vary, but they must meet one requirement  – biocompatibility. Such materials include: titanium, zirconium, lithium disilicate.

At Dental Clinic Petar Duchev we provide services to customers from all over Bulgaria, having various dental needs, including dental implants. As a leading dental clinic in Bulgaria, we are often asked questions, regarding the process of implanting. Unfortunately, one of the greatest problems, faced by this service, is misinformation. There are numerous widely circulating inaccuracies regarding implants. Here, we are going to bring some clarity on the six most common misconceptions, often shared with us at the clinic: 

1. Only the elderly get dental implants.

The concept that only elderly people need prostheses or dental implants, is simply wrong. Although most dental implants are applied to patient at the age of 50 years or more, there are still many young people, who need such treatment.

The loss of teeth may be due to numerous factors, including:

• Age;

• Health disorder;

• Trauma;

• Genetics;

• Diet.

Everyone, having healthy gums and jaws is considered eligible for dental implants. Don’t be concerned about your age, but your overall oral health.

2. The implanting procedure is painful. 

The procedure itself is absolutely painless.

In 90% of the cases, we use deep sedation, as anesthesia, combined with very small quantities of local anesthetics. If the procedure is very limited in range (a single implant) it can also be performed, using local anesthesia only. Deep sedation means comfort. First – for the patient, and also for the treatment team. This procedure ensures proper conditions for a faster, painless and smoother healing of the treated areas. The implantation procedures are not subsequently associated with pain by our patients. Usually, some of them report a mild discomfort on the next day and sometimes, mild swelling may occur, but this is usually the result of large-scale and prolonged procedures, such as the All-on-4*(removal of all teeth, requiring extraction and placement of 4 implants simultaneously) or bilateral sinus lift procedures.

If all our instructions are observed and the necessary care at home is adequate, after the removal of the sutures (day 8-10), the entire procedure will be nothing more than a vague memory.

3. Dental implants are rare.

Dental implants are not a rare form of treatment. According to data, provided by the American Academy of Implant Dentistry, approximately 300 million people have dental implants. This number is increasing by about 500 000 people per year.

If you have teeth missing and are concerned how this may affect your appearance, bite or chewing, implants can help. Dental Clinic Petar Duchev is a clinic, specialized in the area of dental implants with many years of experience in developing the perfect smiles of its patients. You may rest assured that if you choose dental implants, you will not be alone in your decision and our dentists have performed this procedure on numerous occasions before that.

4. The application of dental implants requires perfect teeth.

Dental implants are intended for everyone who needs them. They are not only designed for people, who have perfect teeth. In fact, most people, who undergo dental implanting, have several imperfections in their mouths, thus requiring the use of implants.

For most patients, the placement of a dental implant requires a healthy and strong jaw-bone, gums and adjacent teeth. During the initial consultation, you dentist will determine, whether or not you are eligible for this procedure. Although, it is not suitable for everybody, most people should not have problems with their eligibility.

5. Dental implants are too expensive.

Dental implants may cost between BGN 900 and 3000, depending on the complexity of the situation, the implant type and the competence of your dentist. Stay away from any offers, which seem too financially “attractive”. The implants used in these cases, are likely to be cheap replicas of leading brands, manufactured at dubious locations.

The price is formed based on many factors. These include: the type of implants (their cost may also vary), the auxiliary materials, equipment used and the competence of the dentist, performing the procedure. What matters most, however, is the guaranteed safety during the procedure and the level of subsequent care.

6. Dental implants have unnatural appearance.

One of our patients’ greatest concerns is that dental implants will look different from their natural teeth. Although, there are many ways to install a crown, easily identifiable from afar as artificial, dental implants must look like natural teeth, function as natural teeth and require daily care, just like natural teeth.

The way the implant is placed directly into the jawbone ensures that there is no doubt whatsoever that this may not be your own natural tooth.

The key to the natural look of the implant is the careful matching of the color and shape of the crown to the rest of the teeth. While many people may be tempted to obtain a truly brilliant smile, you would hardly want to have one sparkling white tooth against the rest of the not-so-white ones.

At first, eating with a dental implant can feel a little odd. However, this also stands true for any dental procedure. Even a filling can feel differently, when you first bite down with it. Over time, however, you will get used to your implant. Unlike fully removable dentures that you take out and put back in, an implant stays permanently in its place. Therefore, getting used to the new tooth in your mouth is a quick and easy process.

Contact Dental Clinic Petar Duchev

Dental implants are used as a preventive measure to maintain the shape of the bite, to reduce tooth misalignment and to maintain the lips and facial structure. They are also used as an aesthetic tool to provide a beautiful and healthy smile where teeth were once missing.

The prestigious The Legal 500 EMEA edition ranks Djingov, Gouginski, Kyutchukov and Velichkov a top tier law firm for 2023 for another consecutive year. The firm scores Tier one in 10 practice areas: Banking, Finance and Capital Markets, Commercial, Corporate and M&A, Dispute resolution, EU and Competition, Energy and Natural Resources, Healthcare and Life Sciences, Intellectual Property, Projects and PPP, Real Estate and Construction and TMT and is also recommended for its experience in Transport Practice area. 

A total of 5 lawyers are listed in the elite “Leading lawyers” list, 2 – in the “Next generation lawyers” list, 9 lawyers are listed in the “Rising stars” group and a total of 20 lawyers are recommended.

Djingov, Gouginski, Kyutchukov and Velichkov Law Firm has received excellent reviews on the basis of market intelligence and clients’ recommendations.

The freshly published 2023 edition of The Legal 500 EMEA edition praises DGKV as “extremely knowledgeable, responsive and responsible” and “full coverage of all legal and regulatory matters.”

Clients recommended DGKV and recognize our team: 

“Djingov, Gouginski, Kyutchukov and Velichkov is a national law firm with an excellent foothold in the local Bulgarian market, but with an outstanding international network. We particularly appreciate their quick, extremely competent handling of cases and the trustworthy way with which they handle our cases at all times. One can completely rely on the lawyers at DGKV.“

„DGKV has high professional standards for building and maintaining relationships with the client. The lawyers have fast reactions and deep-dive into every detail of a specific topic. When and where possible, they share and give their opinions on alternative solutions and approaches to be successful and legally compliant.“

„The law firm DGKV provided us a wide range of legal services. Each of the lawyers we worked with has a narrow specialization in their field. Everyone has excellent communication skills.”

This reaffirmed recognition is an excellent accolade for Djingov, Gouginski, Kyutchukov and Velichkov Law Firm and marks an internationally-recognized achievement consolidating our high profile among the large international law firms. Founded back in 1994, DGKV is one of the largest, oldest and most prominent business law firms in Bulgaria. For almost three decades now it has played a leading role in providing legal advice to leading economic operators and shaping the Bulgarian legal framework.

We would like to thank our international client base and excellent team for keeping us in the top-tier for all these years.

DGKV’s team is motivated to continue serving clients with highest level of professionalism and knowledge and providing the highest quality services for best clients’ satisfaction.

Congratulations to our amazing team!

Dear BBBA members,

The BBBA committees have been working actively in the past years to help us grow our network and activities. Many new ideas for transforming services and events have come from these groups.

We would like to open the committee meetings for new participants who would add their energy and expertise.

Join us for the committees’ meetings as follows:

• April 26, 2 p.m. – BBBA Legal Committee Meeting
  
• April 28, 10 a.m. – BBBA Trade Committee Meeting

If you’d like to join, please e-mail us at office@bbba.bg.