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1. Legal framework

The primary piece of legislation governing the types, corporate structure and governance, as well as the requirements for the establishment of commercial companies in Bulgaria is the Commerce Act 1991 (the "Commerce Act"). The Commercial Register Act 2008 regulates the requirements and procedure for registration in a centralised electronic-based register of commercial legal entities operating under Bulgarian law and of changes in the corporate status of such entities (the "Commercial Register"). Other relevant primary legislation governing specific corporate matters includes the Corporate Income Tax Act 2006, the VAT Act 2006, the Investments Promotion Act 1997, the BULSTAT Register Act 2005, the Social Security Code 1999, the Tax and Social Security Procedure Code 2005, the Personal Data Protection Act 2002, etc.