Buy & Sell Bulgaria Insight Newsletter

We are proud to present to you the company magazine VARNA INVESTOR, which will be available end May. There you will find information about the Group and its companies, property market trends, investment opportunities, projects, local legal and tax laws, useful information while you are in Bulgaria, articles about the country and especially Varna, the Sea Capital, and other curious news. Should you wish to have this guide, please contact us at: lili@buy-sell-bulgaria.com and we will send you a complimentary copy.

By Christopher Violaris, C.E.O

Eurolink Investment Group Plc.

The dark clouds of the new economic recession are becoming thicker and thicker on the economic horizon of the West, while the prices of basic commodities are going through the roof, thus making any thoughts or plans for a quick recovery totally unrealistic.

Though the leading Western Central Banks were quick to intervene and tried to support the collapsing financial institutions in trouble, their intervention caused more doubts and insecurity among the investors. The Example of Northern Rock in the UK and leading lenders in the USA is causing serious concerns all over the financial world globally.

In my opinion, we have not seen the real thing yet! Those involved may have felt the repercussions but the real, unfortunately long term, consequences are still to come and they will not just limit themselves in the financial sphere! I expect that a very serious socio-political cost will be the final price, a very dear price to pay indeed!

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We are happy to welcome 2 new girls to the Group. Daniela Dimova has been appointed as Sales Assistant. She will take care of all existing and new company investors, by arranging flights, hotels and transport during their visit, maintaining their purchase records, answering their enquiries and other ad hoc tasks. Aylin Yusein, has accepted the role of Office Assistant. Aylin will be responsible of meeting guests and clients in the office, taking incoming calls and assisting all members of staff for any occurring issues. Good luck guys!

Daniela Dimova	Aylin Yusein

One of the legal aspects, concerning Bulgaria’s membership in the EU, was its obligation to introduce a new Commercial Register. It represents a centralized database, containing a list of all companies, registered in Bulgaria, as well as details about them - name of traders, branches, managerial staff, company’s address, specific documentation, etc. Up to now all these were kept only in the courts’ filing sections as simple paper files. By introducing this innovation, it was made possible for all files to be scanned and entered in the Bulgarian Commercial register in the form of electronic files.

The Register is completely accessible through the internet from any computer, in any country in the world. Presently it is only in Bulgarian and it will take some time for its English version to be introduced as well.

One of the main advantages of the Register is that it offers the possibility for accepting applications, acts of the court and others in electronic form. The only requirements are that you have electronic signature and follow the legal procedure for applying through electronic documents. This will significantly speed up the applications’ processing times and will make the registration of new companies easier.

The Register is maintained by the Bulgarian Registry Agency and they are responsible for guaranteeing the security of the data, contained in it.

In conclusion we would like to inform you that all companies, registered in Bulgaria before 2008 must be pre-registered, in order to be entered in the Register. This is compulsory, but the government has provided a 3-year period for doing it. If you have not done it yet, we advise you to contact your lawyer who can easily do this for you.

Marks & Spencer Group Plc is the largest UK clothing retailer.

Photo by www.marksandspencer.com

Marks & Spencer Group Plc, the largest UK clothing retailer, announced it has entered a joint venture with Marinopoulos Group to expand in the Balkans, Bloomberg agency reported.

The retailer bought 50 % of Marks & Spencer Marinopoulos BV, which operates 38 Marks & Spencer stores under franchise across Greece, Romania, Bulgaria and also in Switzerland, for EUR 50 M, the London- based company said in a statement.

“Our joint venture with Marinopoulos will mean we can really put M&S on the map in this part of the world,” Carl Leaver, the retailer’s director of international business, said in the statement, as cited by Bloomberg agency.

There are many birthday boys and girls in May. Our dear colleagues Lili Gospodinova (Corporate Public & Customer Relations Manager), and our clients and good friends Clare Guiver, Alan Coleman, Mario Gatt, Maria Spiteri and Clifford Kyprianou, have their special day this month. We would like to wish them all Many Happy Returns and the best of luck!

It is our company policy to celebrate all Great Events!!!

Ingredients:

1 pc of chicken chest
1 cucumber, 200 gm
2 carrots
Sesame
Vinegar
Olive oil
Salt
Dill

Cut the meat and vegetables in stripes and sprinkle the sesame and dill on top. Add the vinegar, oil and salt according to your taste preference. Serves 2. Enjoy!

The name of Aladzha monastery comes from the Turkish word for colourful (”aladzha”) due most probably to the bright colours of its wall paintings, dating back to the early Middle Ages. The monk’s cells, common rooms and sanctuaries, dug directly into the limestone rock and situated on two levels high above the ground, were connected via an external staircase. The lower floor hosted the monks’ private cells, common rooms (i.e. kitchen, dining room) and a small church, while the upper level was dedicated entirely to a chapel. According to some historians, primitive monks’ cells were built and inhabited already in the 4th century AC. The entire monastery is considered to date back to the 12th century AC. Unfortunately, nowadays only few of the frescoes are preserved (most of these to be found in the chapel) but the experience of visiting a monastery dug high above the ground into a steep rock is unforgettable. The monastery is declared a cultural sight and houses a small museum. Less than a kilometer away from the Aladzha Monastery, you can find a similar monastery complex, called Katakombite (The Catacombs). Katakombite has an origin and history similar to those of the Aladzha Monastery, though its remains are far less preserved.

The Aladzha monastery is not a functioning cloister and does not offer accommodation or food. Nevertheless, there is a rich choice of such facilities in the nearby resorts of Golden Sands and St. Konstantin and Elena

The Aladzha rock monastery can be reached easily from Varna and Golden Sands by car or bus with the distance from the bus stop being only a five-minute walk.

The fish restaurant Villa Burov is located in the most picturesque part of the Sea Garden in Varna. More than 100 years ago, the area was the place where ministers, bankers and diplomats would choose to spend their holidays and vacations. Nowadays, the restaurant’s guests can enjoy the symbiosis of nature, the architecture, the luxurious interior and exquisite cuisine. The menu includes fresh fish’s fillet, wild fishes, octopus, squids, Black Tiger shrimps, many salads, pork fillets, beef fillets and a long wine list.

Villa Burov has outside seats in the beautiful garden and inside seats, situated in 4 guest halls on two floors, with 3 bay-windows, air-conditioner, parking lot, kid’s corner in the garden, exquisite interior and background of mainly retro or Italian instrumental music.

Rating of 9/10

To improve is to change; to be perfect is to change more often.

Winston Churchill

The Sofia Weekly

An exhibition dedicated to the Cyrillic Alphabet was open by Bulgarian Socialist Members of the European Parliament in Strasbourg on Wednesday. The exhibition, which was organized at the initiative of Bulgarian MEP from Atanas Paparizov, attracted the interest of the European deputies. Its opening was preceded by a lecture and a discussion on the topic “Multilinguism and Inter-Cultural Dialogue - Cyrillic Alphabet’s Message to Europe”.

The leader of the Party of European Socialists group in EP Martin Schulz was a special guest at the ceremony. “The contribution of the Cyrillic alphabet to the cultural diversity and inter-cultural dialogue of Europe, and to the European linguistic heritage, is especially important”, Schulz said.

The thirty pictures - one for each letter in the Bulgarian alphabet - will be exhibited at the ASP Building of the European Parliament.