Innovires Legal

Innovires Legal is the brand of the Bulgarian law firm Dimitrova, Cholakov & Partners Ltd., which supports licences for payment and e-money institutions before the Bulgarian National Bank (BNB). The office is at 25 Vitosha Boulevard, Sofia.

Services

Besides preparing the licence application, the company offers ongoing compliance, AML and DORA support, corporate law and company registration, and commercial disputes. For a payment institution or an electronic money institution, the BNB licence is the entry point to the EU passporting system, and the AML and DORA duties start from the first day of operation.

Markets and fees

Bulgaria and the European Union are named as markets. The company publishes one price: the first consultation costs nothing, according to its site. Other fees are not published, so the cost of an application and of continuing support should be requested after that first meeting.

Who it suits

Start-ups that plan an EMI or PI licence in Bulgaria, and existing providers that need a local adviser for regulatory filings and corporate matters, can use the firm for the whole path from application to maintenance.