Top EU court “unblocks” sale of agricultural land in Bulgaria to EU citizens and companies

On 18 January 2024 the Court of Justice of the European Union rendered a long-awaited preliminary ruling in case C-562/22 (the “Preliminary Ruling”) at the request of the Burgas District Court. The CJEU ruled that a provision of the Bulgarian Ownership and Use of Agricultural Land Act (“OUALA”) that sets a condition to acquirers of agricultural land in Bulgaria to have had the status of resident for more than five years prior to the acquisition, is contrary to EU law, more specifically – to Article 63 of the Treaty on the functioning of the European Union (providing that “all restrictions on the movement of capital between Member States and between Member States and third countries shall be prohibited”).

Employment Law Highlights

Increase of the minimum wage and change in the social insurance threshold voted with the State Budget Act. From January, 1st 2024 the minimum monthly wage for Bulgaria is fixed at BGN 933 (appr. EUR 478).

Clifford Chance and Tsvetkova Bebov & Partners, member of Eversheds Sutherland, advised the Republic of Bulgaria on its dual-tranche EUR 2.3 Billion sovereign bond issuance under Bulgaria’s GMTN Programme

Clifford Chance and Tsvetkova Bebov & Partners, member of Eversheds Sutherland, advised the Republic of Bulgaria on its dual-tranche EUR 2.3 Billion sovereign bond issuance under Bulgaria’s GMTN Programme 13 November 2023 Clifford Chance, as global legal counsel, and Tsvetkova Bebov & Partners, the Bulgarian office of Eversheds Sutherland, as local counsel, advised Bulgaria on…

Pro Bono Week 2023: Celebrating the PILnet Global Employment Compass project

Eversheds Sutherland is delighted to partner with PILnet, a non-profit organisation working with charities around the world to connect them with legal advice, and present a jointly branded employment and immigration guide named “The Global Employment Compass” that aims to strengthen the resilience and autonomy of non-profit organizations by providing an easily accessible and user-friendly guide on employment laws in numerous jurisdictions worldwide.