With the euro becoming Bulgaria's official currency on 1 January 2026, commercial companies are required to express their share capital and the nominal value of their shares in euro. On 2 September 2026 the National Assembly adopted at first and second reading amendments to the Euro Introduction Act extending the deadline for doing so.
What has changed
The original deadline was tied to the filing of the 2025 annual financial statements. Under the amendments, the conversion may be carried out within 36 months of the introduction of the euro, and companies may file it together with any change to their articles — for example a change of manager or registered office, or a share transfer.
The change aims to reduce the administrative burden on both businesses and the Registry Agency. Note that the Agency has already updated the capital figures to euro in the public register ex officio, but this does not replace the adoption of a shareholders' resolution and the updating of the company's articles.
Our recommendations
- Check whether conversion at the fixed rate produces fractional nominal values that require rounding and a corresponding increase or decrease of capital.
- If another corporate change is planned, combine it with the capital conversion to save time and costs.
- Update shareholders' agreements, option plans and investment agreements that refer to amounts in leva.
- Do not leave it until the last moment: workload at the register typically peaks near the end of transitional periods.
How we can help
SM Legal prepares the full set of documents for the conversion — the shareholders' resolution, updated articles and the registration application — and advises where rounding of capital is required. Contact us to plan the conversion together with any other upcoming corporate actions.
This publication is for information purposes only and does not constitute legal advice. For advice on a specific matter, please contact us.
Sylvia Marushkina — Attorney-at-law, Founder of SM Legal