Bulgaria has entered 2026 with a rare mix of milestones and volatility, as Eurozone accession coincides with political turnover and heightened public scrutiny of institutions, according to Kinstellar Partner Diana Dimova, who says that despite the uncertainty, the business environment remains broadly resilient.

Communiqué No. 2026/2 Amending Communiqué No. 2010/4 on Mergers and Acquisitions Requiring the Approval of the Competition Authority (the "Amendment Communiqué") was published in the Official Gazette on 11 February 2026 and entered into force on the same date, amending Communiqué No. 2010/4 (the "Merger Communiqué"). The Amendment Communiqué significantly increases the turnover thresholds triggering a mandatory filing while preserving a lower notification threshold for acquisitions involving technology undertakings established in Türkiye. It also clarifies the turnover calculation in asset transfers, revises the determination of the filing date and introduces a rule affecting ongoing notifications.

Following the requirements of Regulation 2025/40 of the European Parliament and of the Council of 19 December 2024 on packaging and packaging waste (the "Regulation"), a draft amendment to the Waste Management Act (WMA) concerning the creation of a deposit return system ("DRS") was submitted to the Bulgarian Parliament for consideration on 21 January 2026. The draft represents the first attempt to regulate public relations in the context of deposit systems. What is the proposal for the DRS implementation, and how have businesses reacted?

CMS Partners Horea Popescu and Alexander Rakosi unpack a standout year for CEE M&A, as the region posted a record number of deals and a sharp rise in aggregate values despite a muted start to 2025 amid overall geopolitical headwinds.

Hristov & Partners Partners Pavel Hristov and Dragomir Stefanov discuss M&A in Bulgaria in the year past and the one ahead.

CMS Sofia Managing Partner Kostadin Sirleshtov and Partner Borislava Piperkova discuss Energy in Bulgaria in the year past and the one ahead.

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

CMS has advised Chirpan Solar Plant, part of the PPC Bulgaria group, on obtaining a generation licence from Bulgaria’s Energy and Water Regulatory Commission for the Chirpan Solar photovoltaic project.

In The Corner Office, we ask Managing Partners at law firms across Central and Eastern Europe about their backgrounds, strategies, and responsibilities. With 2025 almost behind us, it’s a good time to reflect on what truly made a difference this year. This time around, we asked: If you had to pick one, what was the 2024 decision that moved your firm forward the most in 2025?

Bulgaria’s proposed law for the 2026 National Health Insurance Fund (NHIF) has once again sparked debate surrounding the underfunding of health insurance payments for medicinal products included in the Positive Drug List (PDL) and paid for by the NHIF.

BNT Attorneys and BSJP BNT have joined forces to form a new law firm called Lynx.

PMP has advised Abraxas Capital on its acquisition of a majority shareholding in EuroHospital.

CMS has advised YGY Industries on the sale of its 100% subsidiary Helios Storage to Timnat Energy and Colmobil Energy. Fischer and Delchev and Partners reportedly advised the buyers.

Wolf Theiss has advised Emma Capital on the acquisition of RSR via its majority-owned subsidiary Magna Medtech Group Limited.

The draft of the new EU FDI Screening Regulation, which will replace the existing framework under Regulation (EU) 2019/452 and emerged from the trialogue negotiations, was published on 10 February 2026. The new draft is heavily amended compared to the Commission's original proposal and offers a sneak preview of how the final version is likely to appear.

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).

The Bulgarian government has suggested passage of a law withdrawing from the Energy Charter Treaty (ECT).

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