Redenomination of Company Capital in Euro

How it works

1. 01

   You send the UIC

   We check the company file and the current company documents.

2. 02

   We prepare the documents

   We calculate the values in euro and draft the required resolutions and the updated memorandum or articles of association.

3. 03

   You receive signing instructions

   We give clear guidance on which documents have to be signed and how.

4. 04

   We file with the Commercial Register

   We file the documents electronically and follow the proceedings through to completion.

How we can help

What is needed to start

• -The company's UIC
• -Name and contact for a reply
• -Optional: whether you also want the AFS filed

For the initial check you do not need to prepare all documents in advance.

Frequently asked questions

My capital already shows in euro in the Commercial Register. Do I need to do anything?

Possibly yes. The redenomination of the registered capital was carried out ex officio by the Registry Agency, but the memorandum of association, the articles of association or the statute are not updated automatically. The corporate document has to be brought in line with the capital values in euro and submitted for announcement.

The company is dormant. Does it still have to update its documents?

The absence of current commercial activity does not in itself mean that the company has been struck off or that its corporate documents need not be brought in line with the applicable rules.

How is the capital calculated in euro?

The lev value is converted at the official fixed rate of 1 EUR = 1.95583 BGN, applying the statutory rules on conversion and rounding. For an OOD it must also be checked whether the size of the shares still corresponds to the capital and to each partner's percentage participation.

Can I simply replace “lev” with “euro” in the articles of association?

Not always. Besides the currency, the capital, the size and number of the shares and the ratio between them have to be checked. For certain companies an additional correction may be necessary.

Is a visit to the office necessary?

In most cases the procedure can be organised remotely. After the preliminary review we will give you specific instructions based on the company's documents.

How much does the service cost?

After we check the UIC we will confirm the required steps and the price for the specific company.

How long does it take?

The timeframe depends on the specific documents and on the processing of the application by the Commercial Register. After the preliminary check we will give you an indication of the time required.

What do I need to send you?

To start it is enough to send us the UIC and your contact details. After the check we will tell you whether further documents are needed.

Can everything be done remotely?

In a large part of the cases the procedure can be organised remotely. After the check we will give you specific instructions.