With regard to the introduction of the euro in the Republic of Bulgaria

Dear Clients, 

With regard to the introduction of the euro in the Republic of Bulgaria, we would like to inform you of important obligations that affect all commercial companies, registered in Bulgaria.

According to the amendments to the current legislation, by December 31, 2026, all companies must bring their corporate documents into compliance with the requirements for capital transformation and to announce in accordance with the legal regulations a new/updated Memorandum of Association/Articles of Association/Statute, certified by their legal representatives, in the Commercial Register. These documents should reflect:

1. Тhe revalued amount of capital in euros;
2. Тhe current distribution of company shares.

It should be noted that as a result of the conversion from BGN to EUR, changes may occur in the nominal value and ratio of company shares between the partners, including due to rounding and technical reallocation. In order to protect the rights and interests of the partners/shareholders, these changes must be clearly and accurately reflected in the company’s incorporation and organizational documents.

Failure to comply with the statutory deadline for registration of the above changes/announcement of the updated company articles may lead to future uncertainty regarding the rights to the company shares and create difficulties in registering subsequent changes in the company’s record.

Our team is available to assist you with respect to compliance with these legislative requirements and their proper registration with the Commercial register. 

TPA Bulgaria

+359 2 981 66 45/46/47

office@tpa-group.bg

128, G.S. Rakovski str, floor 2

1000 Sofia