The changeover to the euro: 6 practical guidelines for businesses

The changeover to the euro is preceded by the convergence report published on 4 June 2025 by the European Central Bank, which confirms Bulgaria’s readiness to adopt the single currency. According to this report, the country will introduce the euro as the official currency from 1 January 2026.

This change demands significant adjustments from all Bulgarian companies. They must carefully plan and carry out measures to ensure a smooth transition.

1. Updating the constitutive documents

An important element of preparation is the review and amendment of statutes, contracts and other constitutive documents. Occasionally, an amendment of the capital, shares or stock is necessary and must be made in order to preserve the rights of the partners and shareholders. Disputes and difficulties are possible, so changes must be carefully planned and entered in the Commercial Register.

2. Dual display of prices

The dual display of prices in euro and lev is mandatory during the transition phase. This also applies to price labels, advertising communication, general terms and conditions, websites and electronic platforms. Non-compliance can lead to sanctions from the Consumer Protection Commission and the Competition Commission.

3. Adaptation of employment records

Employers should review and update documentation relating to employee remuneration, taking into account the revaluation of salaries and any changes to the structure of remuneration.

4. Analysis of commercial contracts and accounting documents

Companies should conduct a thorough review of existing contracts with suppliers and customers to avoid negative consequences of currency change in payments. Related accounting templates should also be updated.

5. Check the terms of financing

Loans, leases and other financial arrangements require particular attention to ensure predictability and protect the interests of businesses after the changeover.

6. Accounting and payment processes

There is a need for fine-tuning of information systems that process financial data – including software upgrades and testing of new versions. The transition requires a detailed translation of assets and liabilities from levs into euro and the maintenance of an analytical record of cash balances in both currencies during the dual circulation period.

7. Staff training

The changeover to the euro brings with it a significant risk of errors and inconsistencies, which can lead to disputes and sanctions. Staff preparation and training are therefore key to successful adaptation.

The changeover to the euro is a strategic challenge for businesses in Bulgaria that requires comprehensive and coordinated preparation. Compliance with legal requirements and timely adaptation of all business processes will ensure stability, legal certainty and minimise risks during a period of change.

TPA Bulgaria

+359 2 981 66 45/46/47

office@tpa-group.bg

128, G.S. Rakovski str, floor 2

1000 Sofia