In order to facilitate the introduction of the EUR as a monetary unit in the Republic of Bulgaria, the Law on the Introduction of the Euro was adopted and promulgated in the State Gazette in year 2024. After our accession to the eurozone, the monetary unit will be 1 (one) euro, divided into one hundred cents. As of January 1, 2026, the currency in the Republic of Bulgaria will be the euro. The official exchange rate to the Bulgarian lev is 1.95583.
This has an impact on the entire turnover and inevitably raises business questions for further development. The currency conversion itself does not put consumers in a less favourable position compared to the time when the euro was not yet in effect. One of the principles for introducing the euro is the principle of transparency - the timely information of citizens by institutions and authorities about their rights and obligations.
In this regard, it is also the obligation of commercial companies to update their internal corporate acts - in other words, the company acts adopted in the TRRNPLE at the Registry Agency. The term according to Art. 32, paragraph 1 of the Law on the Introduction of the Euro is 12 months from the introduction of the EUR, or from January 1, 2026 to December 31, 2026. Within this time period, a copy of the statutes or the partnership agreement with the converted capital and the nominal value of the shares in the capital should be submitted for publication in the TRRNPLE.
The Registry Agency will automatically convert, on the date of introduction of the euro, the amount of capital of a limited liability company, joint-stock company and limited partnership with shares entered in the commercial register, as well as the registered nominal value of the shares in a joint-stock company and in a limited partnership with shares, with the values in euros and euro cents.
What YOU must do: This automatic change does not legally amend your actual founding documents. You are still required by law to:
- Formally amend your Articles of Association or other corporate statutes to state the capital and share values in EUR.
- Submit these updated documents for publication in the Commercial Register.
- The Commercial Register will not charge a state fee for publishing when an Application for act announcement is filed where the capital is unchanged, but visible in EUR equivalence. When the option under Art. 32, para. 5 of the Law on the Introduction of the Euro is applied, then the Application is for changed circumstances, and the state fee shall be due.
The deadline you cannot miss is exactly one year to complete this process:
- Start Date: January 1, 2026
- End Date: December 31, 2026
As a lawyer, I can handle the entire process for you - from drafting the updated documents to ensuring they are correctly filed with the Commercial Register. Ensure a smooth and compliant transition to the euro. Contact me for professional legal assistance, and let’s get your company ready.