Legal compliance is the process by which a company adheres to the complex rules, policies and processes that regulate business practice in a particular jurisdiction.
The necessary actions depend on the company’s scope of activities. The most common ones are such related to labor law, company law, tax policy, protection of personal data, labeling, protection against money laundering and terrorism and etc. Any person or company can save
significant amounts if it gets ahead of such issues instead of being forced to react after the fact. The state or municipal sanctions for some of the aforementioned issues are strict and often significant. Purchasing a full package of compliance documentation or engaging our monthly compliance service would allow a company to forgo such troubles.
To be on the safe side we advise to consult your legal representative regarding all activities which might require any kind of registration,
application or similar proceedings as to avoid incurring penalties or other expenses.
Staying ahead of the countless rules and regulation and state and the EU imposes is beyond the competency of any one person. It is advisable
to here a professional to conduct a constant or at least periodical vigilance as to avoid fines and other impositions.
The General Data Protection Regulation (EU) 2016/679 (GDPR) is a regulation in EU law on data protection and privacy in the European Union (EU) and the European Economic Area (EEA). It also addresses the transfer of personal data outside the EU and EEA areas. The GDPR’s primary aim is to enhance individuals’ control and rights over their personal data and to simplify the regulatory environment for international business.[1] Superseding the Data Protection Directive 95/46/EC, the regulation contains provisions and requirements related to the processing of personal data of individuals (formally called data subjects in the GDPR) who are located in the EEA, and applies to any enterprise—regardless of its location and the data subjects’ citizenship or residence—that is processing the personal information of individuals inside the
EEA.
The national framework as well as the EU regulation contain numerous rules and guidances on labeling any and all products. Significant experiency is requred to achieve compliance.
Due to EU regulations the national framework concerning money laundering and other similar topics has grown vast and complicated.
Navigated only by professionals with expert knowledge and experience.
Almost any business in Europe and in Bulgaria is related to the adherence to a great number of requirements. Should you choose to delay with their implementation their burden might become to severe and might significantly impede your business prospects. It is highly advisable to begin the process for achieving compliance as early as possbile. Should you choose to contact us we are prepared to offer advise or direct measures at any stage of your business development.
