Newswire
Sofia: Bulgaria’s Parliament has extended the deadline for companies to update their corporate documents and formally denominate their share capital in euros, easing concerns that the country’s trade register could face a surge of filings following the adoption of the single currency.
Parliament approved amendments on September 2 extending the deadline from 12 months to 36 months after Bulgaria adopted the euro on January 1, 2026.
Bulgaria joined the euro zone at the beginning of this year, with the Euro Adoption Act originally requiring companies to resubmit their articles of incorporation showing share capital in euros.
A separate provision had effectively linked the requirement to the submission of companies’ 2025 annual financial statements, whose filing deadline falls this month. The overlap had raised concerns that the Registry Agency, which maintains Bulgaria’s trade register, could be overwhelmed by a large volume of corporate filings.
The amendments, proposed by the governing Progressive Bulgaria party and approved at both first and second reading on September 2, are intended to ease the administrative burden and prevent unnecessary pressure on the registry system.
Under the revised rules, companies will have substantially more time to complete the formal conversion of their share capital.
The amendments also introduce greater flexibility by allowing the conversion to be carried out when a company specifically files an amendment to its articles of incorporation, rather than requiring it to be done during the next corporate filing triggered by another change, such as the appointment or replacement of a manager.
Opposition challenges requirement
Opposition parties questioned the need for the extended deadline, arguing that the measure itself may be largely redundant.
They pointed out that the Registry Agency has already automatically converted share-capital figures recorded in the trade register from leva into euros.
Opposition lawmakers proposed removing the formal requirement for companies to convert their share capital altogether. The proposal, however, was rejected by Parliament.
The changes come as Bulgaria continues the administrative transition following its entry into the euro zone, with businesses and public institutions adapting corporate, financial and regulatory procedures to the country’s new currency.
The three-year window is expected to give companies greater flexibility to align their corporate documentation with the euro without facing an immediate filing rush, while allowing authorities to manage the transition without putting excessive pressure on the trade-registration system.
