Bulgaria’s adoption of the euro touched every commercial company — limited liability companies, joint-stock companies and partnerships limited by shares. Some of the changes happened automatically. Others, after the September 2026 amendments, can wait until the next time the company changes its articles.
What changed by itself
What you may still need to do
The registry has converted the figures, but each company’s own founding documents still state the capital in leva. The original euro legislation gave companies twelve months to restate them. Amendments adopted in September 2026 relaxed this: the transition period was extended to 36 months from the introduction of the euro, and companies are generally no longer required to file updated articles solely because their capital was converted.
In practice, the euro figures are written into the articles the next time they are amended for another reason — a new manager, a share transfer, a change of address. No state fee is charged for the conversion itself.
Where the converted capital ends in awkward cent amounts, a limited liability company may round it up or down by up to 5%, by a resolution adopted with the majority needed to amend its articles (three-quarters of the capital). This option is not available to joint-stock companies.
Accounting
From the changeover date, all accounting entries are made in euros. The financial statements for the year of the changeover show figures in both currencies so that the two years can be compared; transitional rules set out how the comparative period is presented. Accounting software, chart of accounts and internal approval limits expressed in leva should all be updated.
Contracts in leva
Existing contracts do not need to be renegotiated. Amounts in leva are simply performed in euros at the fixed rate, and the contracts remain fully valid. An addendum is only needed where the contract itself requires the parties’ consent to a change of currency — which is rare, but worth checking in financing and long-term supply agreements.
A practical checklist
- Restate the capital in euros the next time you amend your articles for any reason
- Check any capital amounts, share values and thresholds in the articles and shareholders’ agreements
- Update accounting systems, payroll and internal financial procedures
- Review bank mandates, loan and security documents and investment agreements
- Update invoices, quotes, price lists, websites and order forms
- Tell key customers and suppliers how you will invoice from now on
Questions clients ask
Do the owners need to pass a resolution now?
Not just for the conversion. The registered figure was converted automatically, and since the September 2026 amendments a separate filing is generally not required. The owners restate the capital in euros as part of their next amendment to the articles — or earlier, if they want to use the 5% rounding option.
Is there still a deadline?
The transition period now runs for 36 months from the introduction of the euro, that is, until the end of 2028. Companies that amend their articles for any other reason during that time should restate the capital in euros at the same time. Check the final text of the amendments for your company’s specific situation.
Do we need to sign addenda to our contracts in leva?
No, unless a contract expressly requires the parties’ consent to a change of currency. Amounts are converted at the fixed rate automatically.
This guide is general information about Bulgarian law as it stood on the date of publication. It is not legal advice for your specific case.
