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Bulgaria’s entry into the Schengen Zone and euro adoption changed the game for anyone considering a long-term stay. A Bulgarian residence permit now means borderless travel across 29 European countries. The Type D visa is your entry point.

Quick answer: The Type D visa lets non-EU citizens stay in Bulgaria beyond 90 days for work, study, family, business, or retirement. The consular department fee is approximately €100 and the process takes about 30 working days and serves as the mandatory first step before applying for a residence permit. Below, we cover every category, document requirement, and step in the process.

Last reviewed: January 2026. Requirements verified against Bulgarian Ministry of Foreign Affairs guidelines.

Jump to: What is a Type D Visa | Who Needs One | Visa Categories | Required Documents | Application Process | After You Arrive | FAQ

What is a Bulgarian Type D Visa?

A Type D visa is Bulgaria’s long-stay visa for non-EU nationals planning to remain in the country for more than 90 days. Unlike short-stay Schengen visas (Type C) that cap your visit at three months, the Type D grants either 6 or 12 months of validity with multiple entries.

Think of it as the gateway document. You can’t apply for a Bulgarian residence permit without first holding a Type D visa. The visa gets you into the country legally; the residence permit lets you stay.

Key Characteristics

• Validity: 6 months or 12 months (360 days)
• Entries: Multiple
• Purpose: Long-term stay for work, study, family, business, retirement, or other qualifying grounds
• Prerequisite for: Bulgarian residence permit application

Why It Matters More in 2026

Bulgaria became a full Schengen member on January 1, 2025. Land border checks with other Schengen countries disappeared. If you hold a Bulgarian residence permit (which requires a Type D visa first), you can travel freely across 29 European countries for up to 90 days in any 180-day period. No additional visas needed.

Add the January 2026 euro adoption, and Bulgaria suddenly looks much more accessible for entrepreneurs and remote workers from outside the EU.

Who Needs a Type D Visa?

Any non-EU/EEA citizen planning to stay in Bulgaria longer than 90 days within a 180-day period needs a Type D visa. This includes:

• Employees with job offers from Bulgarian companies
• Entrepreneurs starting or running businesses in Bulgaria
• Students enrolled in Bulgarian universities or language schools
• Family members joining relatives who already hold Bulgarian residence
• Retirees with pension income seeking a European base
• Freelancers and remote workers (including the new digital nomad category)
• Investors meeting Bulgaria’s investment thresholds

Who Doesn’t Need One

EU and EEA citizens don’t need a Type D visa. They have freedom of movement and can register for residence directly. Citizens of countries with visa-free agreements can stay up to 90 days without any visa, but if they want to stay longer, they still need the Type D.

Type D Visa Categories

Bulgarian law recognizes 21 grounds for granting a Type D visa under the Foreigners in the Republic of Bulgaria Act. Here are the most common categories.

Employment

You’ve secured a job with a Bulgarian employer. The company must first obtain a work permit through the Ministry of Labour and Social Policy. Bulgaria doesn’t issue open work permits, so you need a specific job offer before applying.

Once the employer has the work permit, you apply for the Type D visa at your nearest Bulgarian embassy. After arrival, you’ll receive a residence permit tied to your employment.

Business and Entrepreneurship

Two main paths here. First, you can establish a company in Bulgaria and demonstrate commercial activity. The catch: you must hire at least 10 Bulgarian citizens to qualify under the standard business ground.

Second, the investment route. Bulgaria’s Golden Visa program requires a fund investment of approximately €512,000 for permanent residency. Smaller investments exist for temporary residence but come with job creation requirements.

Study

Students admitted to accredited Bulgarian universities, vocational institutions, or language schools qualify for a Type D visa. You’ll need an acceptance letter from the institution. The residence permit typically aligns with your academic calendar and allows limited part-time work.

Family Reunification

If your spouse, parent, or child holds Bulgarian residence or citizenship, you can apply for a Type D visa to join them. You’ll need to prove the family relationship with official documents (marriage certificate, birth certificate) translated and apostilled.

Freelance Work

Freelancers need a permit from the Ministry of Labour and Social Policy before applying for the visa. Requirements include:

• Detailed business plan
• Proof of at least two years of professional experience in your field
• Evidence of financial stability

The freelance permit is issued for up to 12 months. You can’t change the scope of your freelance activity during the initial permit period.

Digital Nomad (New for 2026)

Bulgaria launched its digital nomad visa on December 20, 2025. If you work remotely for a company outside the EU/EEA or own a business registered outside these regions, you now have a dedicated path.

Income requirement: You must prove annual earnings of at least €31,000 (calculated as 50 times the monthly minimum wage of €620). This works out to roughly €2,583 per month.

Key conditions:

• You work remotely (no local Bulgarian clients or business activity)
• Your employer or business is registered outside the EU/EEA/Switzerland
• You have health insurance valid across the EU
• You can prove accommodation in Bulgaria

The digital nomad residence permit is granted for one year and renewable for another year if you still meet the conditions.

Retirement

Retirees with sufficient pension income can apply for a Type D visa. You’ll need to demonstrate that your pension covers your living expenses in Bulgaria. Given the relatively low cost of living, many Western European and North American retirees find Bulgaria attractive.

Marriage to Bulgarian Citizen

Marrying a Bulgarian citizen or a foreigner with permanent Bulgarian residence gives you grounds for a Type D visa. You’ll need a Bulgarian marriage certificate and proof that the marriage is genuine.

Required Documents

Document requirements vary by category, but every Type D visa application needs these basics.

Universal Requirements

• Valid passport: Must expire at least 3 months after your intended departure from Bulgaria. Needs at least 2 blank pages.
• Completed application form: Typed, not handwritten. Available from Bulgarian embassies.
• Passport photos: 35mm x 45mm, light background, recent
• Proof of accommodation: Notarized rental contract, hotel booking, or property ownership document
• Health insurance: Minimum coverage of €30,000, valid for Bulgaria and preferably the entire EU/Schengen area
• Financial proof: Bank statements showing sufficient funds (minimum varies by category, generally at least 6 months of Bulgarian minimum wage)
• Criminal background certificate: From your country of residence, recent
• Visa fee receipt: €100 for standard Type D, €200 for 360-day visa

Translation and Apostille

All documents not in Bulgarian must be translated by a certified translator and apostilled. The apostille confirms the document’s authenticity for international use. Don’t skip this step; embassies reject applications with improperly certified documents.

Category-Specific Documents

Employment: Work permit issued to your employer, employment contract

Business: Company registration documents, proof of Bulgarian employees, business plan

Study: Acceptance letter from accredited institution, proof of tuition payment or scholarship

Family: Marriage certificate, birth certificates, proof of family member’s Bulgarian residence status

Freelance: Freelance permit from Ministry of Labour, business plan, professional experience proof

Digital Nomad: Employment contract or business registration (outside EU), income proof (bank statements, tax returns), health insurance valid across EU

Retirement: Pension statements, proof of regular pension income

Application Process Step by Step

1. Determine Your Ground

Identify which of the 21 legal grounds applies to your situation. If you’re unsure, consult with an immigration specialist. Applying under the wrong category wastes time and money.

2. Gather Documents

Collect all required documents for your category. Get translations and apostilles completed. This step often takes longer than expected, especially if you need documents from multiple countries.

3. Schedule Embassy Appointment

Contact the Bulgarian embassy or consulate in your country of residence. Type D visa applications require an in-person appointment. Some embassies have significant wait times, so book early.

4. Attend Interview

The personal interview is mandatory for all Type D visa applicants. No exceptions. Be prepared to explain your purpose for moving to Bulgaria and answer questions about your circumstances.

5. Pay the Fee

The visa fee is €100 for a standard Type D visa or €200 for a 360-day visa. Payment is made at the embassy. The fee is non-refundable even if your application is rejected.

6. Wait for Processing

Processing takes approximately 30 working days. About 90% of applicants receive their visa within 4 weeks (20 working days). Complex cases or incomplete applications take longer.

7. Collect Your Visa

Once approved, return to the embassy to collect your visa. Check all details carefully before leaving.

After You Arrive in Bulgaria

Getting the Type D visa is only half the process. Once you land in Bulgaria, several deadlines start ticking.

Register Your Address (Within 5 Days)

You must register your Bulgarian address with the local municipality office within 5 days of arrival. Your landlord typically assists with this if you’re renting. Keep the registration certificate; you’ll need it for the residence permit application.

Apply for Residence Permit (Within 14 Days)

Within 14 days of arriving, submit your residence permit application at the Migration Directorate of the Ministry of Interior. Bring:

• Your Type D visa
• All documents you submitted for the visa
• Address registration certificate
• Application form for residence permit

Once approved, you receive a residence card (personal ID card for foreigners) valid for one year.

Annual Renewal

Residence permits must be renewed annually. Start the renewal process at least 30-45 days before expiration. You’ll need to prove that your original grounds for residence still apply.

Path to Permanent Residency

After living in Bulgaria for 30 months within any 5-year period, you become eligible for permanent residency. This upgrades your status significantly and removes the annual renewal requirement.

Path to Citizenship

After holding permanent residency for 5 years, you can apply for Bulgarian citizenship. As an EU member state, Bulgarian citizenship grants you the right to live and work anywhere in the European Union.

Costs Summary

• Type D visa (standard): €100
• Type D visa (360-day): €200
• Residence permit application: Varies, approximately €100-200
• Document translation: Varies by country, budget €50-200
• Apostille fees: Varies by country, budget €20-50 per document
• Health insurance: Varies by coverage, from €200-500/year

Note: Some categories have additional fees. Work permits, freelance permits, and business registrations carry their own costs.

Fee Exemptions

Certain applicants don’t pay visa fees:

• Spouses and family members of Bulgarian or EU citizens (with proof of relationship)
• Holders of diplomatic, service, or official passports
• Students and accompanying teachers may qualify for reduced fees

Frequently Asked Questions

How long does the Type D visa application take?

Expect about 30 working days from submission to decision. Most applicants receive their visa within 4 weeks. Processing can take longer if your application is incomplete or your case requires additional verification. Apply at least 2-3 months before your planned move to account for potential delays.

Can I work in Bulgaria while my visa is being processed?

No. You cannot enter Bulgaria on a tourist visa or visa-free stay and start working while waiting for your Type D visa. You must have the proper visa and subsequent residence permit before engaging in any employment or business activity in Bulgaria.

What happens if my Type D visa application is rejected?

You receive a written explanation of the rejection. Common reasons include incomplete documentation, insufficient financial proof, or failure to meet the requirements of your chosen category. The €100-200 visa fee is not refunded. You can reapply after addressing the issues that caused the rejection.

Can I travel to other EU countries with a Bulgarian Type D visa?

Yes, with limits. After Bulgaria joined Schengen fully in January 2025, holders of Bulgarian long-stay visas issued after March 31, 2024 can travel within the Schengen area for up to 90 days in any 180-day period. Once you have your Bulgarian residence permit, this travel freedom continues.

Do I need to speak Bulgarian to get a Type D visa?

No language requirement exists for the Type D visa application. However, all documents must be translated into Bulgarian. For long-term residence and eventual citizenship, learning Bulgarian becomes practical, though naturalization has its own language requirements.

Can I bring my family with me on a Type D visa?

Not on the same visa. Each family member needs their own Type D visa. However, once you establish residence, your spouse, children, and in some cases parents can apply for family reunification visas. They follow the same process: Type D visa first, then residence permit.

Final Thoughts

The Bulgarian Type D visa opens the door to one of Europe’s most affordable countries, now with full Schengen access and euro currency. Whether you’re taking a job in Sofia, enrolling in a Bulgarian university, joining family, or working remotely as a digital nomad, the path starts with this visa.

The application process demands attention to detail. Document requirements are strict, translations must be certified, and deadlines after arrival are tight. Many applicants work with local immigration consultants or service providers who handle the administrative burden.

If you’re considering Bulgaria for business, the Type D visa often pairs with company formation services, registered office addresses, and ongoing administrative support. Getting these pieces in place before you apply simplifies the process considerably.

Every Bulgarian company now has euro-denominated share capital in the Commercial Register. The conversion happened automatically on January 1, 2026. What didn’t happen automatically: the paperwork. You still need to file updated corporate documents. This guide covers exactly what’s required, when it’s due, and what it costs.

Quick answer: You need updated Articles of Association (or Statutes for joint-stock companies), a shareholder resolution, and possibly notarized documents. Deadline is December 31, 2026. State fees are waived for this specific filing, though notary costs may apply depending on your company structure.

Last reviewed: January 2026. Based on the Act on Introduction of the Euro (AIERB) and current Commercial Register requirements.

The Legal Framework

The Act on Introduction of the Euro in the Republic of Bulgaria (AIERB), adopted in August 2024, governs the conversion process. Articles 31-33 define how capital converts, the fixed exchange rate, and the Registry Agency’s automatic conversion duties.

Key points from the law:

• Exchange rate is fixed at 1 EUR = 1.95583 BGN (irrevocable)
• The Registry Agency converts all registered capital values automatically
• Companies must update their governing documents within 12 months
• State fees for this update are waived
• Ownership proportions remain unchanged

Documents Required by Company Type

What you need depends on your company structure. Here’s the breakdown.

OOD/EOOD (Limited Liability Companies)

Most Bulgarian companies are OODs (multiple shareholders) or EOODs (single shareholder). For these entities, you’ll need:

Required documents:

• Updated Articles of Association showing capital and share values in euros
• Shareholder resolution approving the amendment (unanimous for capital-related changes)
• Application form A4 to the Commercial Register
• Declaration under Art. 13, para. 4 of the Commercial Register Act

Potentially required:

• Notarized protocol of shareholder decision (if your Articles don’t allow simple written form)
• Updated manager’s signature specimen (if changing managers simultaneously)
• Power of attorney (if filing through a representative)

AD/EAD (Joint-Stock Companies)

Joint-stock companies follow a similar process with some differences:

Required documents:

• Updated Statutes reflecting euro-denominated capital and nominal share values
• Minutes from General Assembly meeting approving the changes
• Application to the Commercial Register
• Updated share register (internal document)

Variable Capital Companies (VCC/DPC)

VCCs don’t register fixed capital in the Commercial Register. The automatic conversion doesn’t apply the same way. Instead, you must update internal documentation:

• Shareholders’ ledger with euro values
• Articles of Association reflecting euro amounts
• Annual capital determinations in euros going forward

The minimum nominal share value shifts to €0.01 for VCCs.

Document Preparation Checklist

Use this checklist to ensure you have everything ready before filing:

Before drafting:

• Obtain current Commercial Register extract showing converted capital
• Review existing Articles of Association for notarization requirements
• Identify all shareholders and their contact details
• Calculate exact euro amounts using the official exchange rate

Document preparation:

• Draft updated Articles of Association with euro figures
• Prepare shareholder resolution text
• Check if notarization is required by your current Articles
• Arrange shareholder meeting or written consent procedure

Execution:

• Collect signatures from all shareholders (unanimous for OOD capital changes)
• Complete notarization if required
• Prepare Commercial Register application
• Gather all supporting declarations

Deadlines

Three dates matter for this process:

January 1, 2026 (Passed)

The Commercial Register automatically converted all registered capital from BGN to EUR. This happened without any action from companies. Your capital now appears in euros in the Registry system.

December 31, 2026 (Critical)

All companies must file updated governing documents by this date. The 12-month window from euro adoption closes at year-end. Miss this deadline and you face:

• Administrative fines
• Blocked future registrations (can’t appoint managers, change addresses, add shareholders)
• Complications in transactions involving shares, loans, or investors

Next Registration Event (Alternative Trigger)

If you need to make any other Commercial Register filing before December 31, 2026, the Registry may require you to update your capital documentation at that time. Some companies will effectively face earlier deadlines based on their business needs.

Fees Breakdown

Here’s what the euro capital conversion actually costs:

State Fees

Commercial Register filing fee: €0 (waived)

The Bulgarian government waived state fees specifically for euro conversion filings. This is unusual. Normal Commercial Register fees run BGN 55 (approximately €28) for electronic filing or BGN 110 (approximately €56) for paper filing. For this particular update, you pay nothing to the Registry.

Notary Fees

Notary costs apply only if your company requires notarized documents:

• Signature specimen (per manager): approximately BGN 6 (€3)
• Document certification: BGN 100-200 (€50-100) depending on complexity
• Notarized shareholder protocol: BGN 150-300 (€75-150) depending on length

If your Articles of Association allow simple written form for capital-related decisions, you can skip notarization and these costs don’t apply.

Professional Fees

Optional but common. Costs vary widely based on company complexity:

• DIY approach: €0-50 (just notary fees if required)
• Basic legal assistance: €150-300
• Full service handling: €300-500
• Complex structures (multiple shareholders, foreign owners): €500-800+

Single-member EOODs with simple structures sit at the low end. Multi-shareholder OODs with shareholders abroad or complicated capital histories cost more.

Total Cost Scenarios

Scenario 1: Simple EOOD, Articles allow written form

• State fees: €0
• Notary fees: €0
• Professional help (optional): €150-200
• Total: €0-200

Scenario 2: OOD with 2-3 local shareholders, notarization required

• State fees: €0
• Notary fees: €75-150
• Professional help: €200-350
• Total: €275-500

Scenario 3: OOD with foreign shareholders, complex structure

• State fees: €0
• Notary fees: €100-200
• Professional help: €400-700
• Apostille/legalization (if needed): €50-150
• Total: €550-1,050

Step-by-Step Process

Here’s how to complete the conversion from start to finish:

Step 1: Gather current documents

Obtain your company’s current Commercial Register extract and existing Articles of Association. Check the extract to confirm the Registry has converted your capital to euros.

Step 2: Calculate converted amounts

Apply the fixed rate (1 EUR = 1.95583 BGN) to your registered capital and each shareholder’s stake. Round to two decimal places using standard rounding (third decimal ≥5 rounds up).

Step 3: Check notarization requirements

Review your current Articles. Look for language about decision-making procedures. If capital-related decisions require notarized protocols, plan for notary appointments.

Step 4: Draft updated documents

Prepare new Articles of Association with euro amounts throughout. Draft the shareholder resolution approving the amendment.

Step 5: Execute shareholder approval

For OODs, capital changes require unanimous shareholder consent. Hold a meeting or complete written consent procedures. Get all required signatures.

Step 6: Complete notarization (if required)

Visit a Bulgarian notary to certify signatures and contents if your Articles mandate it.

Step 7: File with Commercial Register

Submit the application electronically (requires QES) or on paper. Include all supporting documents.

Step 8: Confirm registration

Wait for Registry processing. Obtain updated company extract confirming the changes.

Common Questions

Do I need to convert the numbers myself?

No. The Commercial Register already converted your capital automatically. Your job is updating your company’s internal documents to match what the Registry now shows.

What if rounding creates ownership discrepancies?

Minor discrepancies up to 5% can be resolved through a simplified adjustment procedure under the AIERB. Beyond 5%, you’ll need formal capital modification procedures.

Can I file without a Qualified Electronic Signature?

Yes, but only by paper filing. Electronic filing requires a QES from a certified Bulgarian provider. Most companies use representatives (lawyers or accountants) who already have QES credentials.

My shareholders live abroad. Does this complicate things?

It can. You’ll need to coordinate signatures across time zones. If notarization is required, foreign shareholders may need to sign before a notary in their country, then apostille the documents. This adds time and cost.

What if my company is dormant?

Dormant status doesn’t exempt you. Every registered company must comply regardless of activity level. Getting this done while dormant actually simplifies things since you’re not juggling other business priorities.

Key Takeaways

• Deadline: December 31, 2026
• State fees: Waived for this filing
• Documents: Updated Articles of Association + shareholder resolution (minimum)
• Notarization: Depends on your existing Articles
• Total cost: €0-1,000+ depending on complexity

The conversion math happened automatically. The paperwork is your responsibility. Start early to avoid the year-end rush when notaries and legal professionals will be overwhelmed with last-minute filers.

Bulgaria’s Commercial Register converted your company’s share capital to euros on January 1, 2026. Automatically. No application required. But here’s what the Registry didn’t do: update your Articles of Association. That’s on you. And the deadline is December 31, 2026.

Quick answer: Every Bulgarian company must file updated governing documents showing share capital in euros by year-end 2026. The Commercial Register handled the conversion math automatically, but companies must formally amend their Articles of Association and submit them. Miss the deadline and you face fines plus blocked future registrations.

Last reviewed: January 2026. Reflects current Bulgarian commercial law following euro adoption.

What Actually Happened on January 1, 2026

The Registry Agency converted all registered company capital from Bulgarian lev to euros using the fixed exchange rate of 1 EUR = 1.95583 BGN. This happened across the board. Every OOD, EOOD, and joint-stock company in Bulgaria woke up with euro-denominated capital in the system.

Ownership stakes didn’t change. If you owned 50% before, you own 50% now. The conversion preserved proportional rights exactly as they were.

But the Registry only updated its own records. Your company’s internal documents still show the old BGN figures. Legally, that’s a problem.

Why You Can’t Ignore This

Article 32 of the Euro Introduction Act (ZVERB) requires all commercial companies to bring internal corporate documents into compliance within 12 months of euro adoption. For most companies, that means updating:

• Articles of Association (for OOD/EOOD)
• Statutes (for joint-stock companies)
• Shareholders’ agreements referencing capital amounts
• Internal share registers showing nominal values

The updated documents must be filed with the Commercial Register before December 31, 2026.

What Happens If You Miss the Deadline

Non-compliance triggers two consequences. First, administrative fines. Second, and worse, blocked registrations. Need to appoint a new manager? Change your address? Add a shareholder? The Registry can refuse to process any application until your capital documentation matches the euro conversion.

For dormant companies, this seems like a distant problem. Until it isn’t. The moment you need to make any Registry change, the compliance gap blocks you.

The Procedure Isn’t as Simple as It Sounds

On paper, you’re just changing numbers from lev to euros. In practice, Bulgarian corporate law makes this more complicated.

Shareholder Decisions

Amendments to Articles of Association involving capital require shareholder approval. For limited liability companies, capital-related changes need unanimous consent from all shareholders. If your OOD has multiple partners, you need everyone on board.

Notarization Questions

Since 2016, certain LLC decisions require notarized records with certified signatures and contents. Capital changes fall into this category, unless your current Articles of Association explicitly allow simple written form for such decisions.

Many older companies never included that clause. Their founders didn’t anticipate needing it. Now they face notary appointments and additional documentation.

Rounding Complications

The conversion uses standard rounding to two decimal places. For companies with clean BGN 2 capital, the math is simple. But companies with unusual capital structures (perhaps from past increases or complex shareholding) may see rounding affect the total.

If rounding causes ownership proportion discrepancies up to 5%, Bulgarian law allows a simplified adjustment procedure. Beyond 5%, you’re into formal capital modification territory with its own requirements.

Filing Requirements

The Commercial Register accepts applications from company managers directly or from lawyers with explicit power of attorney. Electronic filing requires a Qualified Electronic Signature (QES) from a certified Bulgarian provider.

Good news: no state fees apply for this specific euro conversion filing. The government waived registration costs for capital-to-euro updates.

What Our Legal Service Includes

We handle the complete process from documentation to Registry filing:

Document Review and Preparation

• Review current Articles of Association and identify all euro conversion points
• Calculate precise converted amounts using the official exchange rate
• Draft updated Articles reflecting euro-denominated capital and share values
• Prepare shareholder resolution for the amendment approval

Corporate Formalities

• Coordinate shareholder meeting or written consent procedure
• Arrange notarization if required by your current Articles
• Obtain necessary signatures and certifications

Commercial Register Filing

• Prepare and submit the application to the Commercial Register
• Handle any Registry queries or requests for clarification
• Confirm successful registration and obtain updated company extract

Documentation Delivery

• Provide certified copies of updated Articles of Association
• Supply current Commercial Register extract showing euro capital
• Deliver complete file of all documents for your records

Who Needs This Service

Every capital company registered in Bulgaria. It doesn’t matter if you’re actively trading or completely dormant. Foreign-owned or locally held. The obligation applies equally.

OOD and EOOD companies: Must update Articles of Association with euro capital amounts and individual share values for each partner.

Joint-stock companies (AD/EAD): Must update statutes with converted capital and nominal share values.

Variable Capital Companies (VCC): Don’t register fixed capital in the Commercial Register, but must update internal documentation including shareholders’ ledger and articles to reflect euro values.

Dormant companies: Still required to comply. No exemption for inactive entities.

Timeline and Planning

The deadline is December 31, 2026. That sounds far away. It isn’t.

Consider the steps: document review, shareholder coordination, possible notarization, Registry filing, and processing time. If your company has multiple shareholders in different countries, scheduling becomes complex. If you need notarization and your Articles don’t provide for simple written form, add those appointments to the timeline.

Companies that wait until Q4 2026 will compete with every other procrastinator in Bulgaria for notary time and legal attention. The Registry will process applications in order received. Late filers risk missing the deadline even with applications submitted.

Start now. Even if your company is dormant, getting this done removes a compliance burden and keeps future options open.

Frequently Asked Questions

Does the Commercial Register charge fees for this filing?

No. The Bulgarian government waived state fees specifically for euro conversion capital updates. You pay nothing to the Registry for this filing. Professional service fees for document preparation and handling are separate from government charges.

What if I have a single-member EOOD?

The process is simpler but still required. As the sole shareholder, you make the amendment decision yourself. You still need updated Articles of Association filed with the Registry by the deadline.

My company has been inactive for years. Do I still need to comply?

Yes. The obligation applies to all registered companies regardless of activity level. Dormant status doesn’t create an exemption. If your company exists in the Commercial Register, it needs euro-denominated documents.

Can I file the application myself without a lawyer?

Legally, yes. Company managers can file directly. But you’ll need to prepare compliant documents, handle any notarization requirements, and navigate the electronic filing system with a QES. Many company owners find professional handling faster and less risky than learning the process for a one-time filing.

What exactly gets converted?

The registered capital amount and the nominal value of each share or ownership stake. For an EOOD with BGN 2 capital, that becomes approximately EUR 1.02. The conversion happens at the fixed rate of 1 EUR = 1.95583 BGN, rounded to two decimal places.

Get Your Company Compliant

The December 31, 2026 deadline applies to every capital company in Bulgaria. The Commercial Register did the conversion automatically, but formal document updates remain your responsibility.

Waiting creates risk. Start the process now while timelines are comfortable and professional availability is good. We handle everything from initial review through final Registry confirmation.

Contact us to begin your company’s euro capital compliance.

How Does a Conversion of Share Capital into Euro Occur?

With the approaching introduction of the euro in the Republic of Bulgaria, an increasing number of company owners and managers are asking how this fundamental change will affect their companies’ capital, internal relations, and obligations towards state institutions. The conversion of share capital is not merely a formal accounting operation – it has clearly defined legal consequences and requires timely action by businesses, similar to other key corporate processes discussed in the analysis How To Close Company in Bulgaria (Liquidation Procedure).

Lack of awareness of the rules or underestimation of the deadlines may lead to sanctions, refusals of registration by the Commercial Register, and practical difficulties in transactions involving shares, loans, or investors.

In this comprehensive article we will examine:

• Which companies are required to perform the conversion and which are not affected;
• What happens automatically and which actions remain the responsibility of the companies themselves;
• The legal basis of the process and where it is regulated;
• Specific deadlines, practical examples, and risks of delay;
• How SofiaOffices can assist you with comprehensive legal and administrative support.

1. Is Conversion Required and for Which “Companies”?

Yes – the conversion of share capital is mandatory for all capital commercial companies incorporated and registered under Bulgarian commercial law. It does not matter whether the company is active, has minimal activity, or is temporarily without commercial operations. The obligation applies equally to local and foreign owners, including companies operating through leased offices in various market segments, analyzed in Offices in Sofia Under €13/sq.m: 7 Excellent Choices.

Scope of the Obligation

• Limited Liability Companies (OOD and EOOD);
• Joint-Stock Companies (AD and EAD);
• Partnerships Limited by Shares (KDA).

On 1 January 2026 – the official date for the introduction of the euro – the capital registered in the Commercial Register will be automatically converted from BGN into EUR at the fixed and irrevocable exchange rate:

1 EUR = 1.95583 BGN

The conversion covers both the total amount of the capital and the nominal value of the shares and stocks, as registered at that moment.

What Does This Mean in Practice?

The conversion itself is carried out ex officio by the Registry Agency, without the need to file an application and without payment of state fees. This facilitates businesses and follows the logic of other automated administrative processes described in the article The Modern Sofia Offices.

It is important to emphasize that the conversion does not constitute an increase or decrease of capital within the meaning of the Commercial Act. The percentage participation of partners and shareholders remains unchanged, as do their rights in the company.

Any differences arising as a result of rounding to the second decimal place are recorded for accounting purposes as retained earnings or uncovered loss, without affecting the ownership interests.

2. Where Is the Conversion Regulated?

The legal framework of the entire process is clearly regulated in:

The Act on the Introduction of the Euro in the Republic of Bulgaria (AIERB), adopted by the 50th National Assembly on 7 August 2024 and promulgated in the State Gazette, issue No. 70 of 20 August 2024.

Main Statutory Provisions

• Art. 31–32 AIERB – define the method of conversion, the fixed exchange rate, and the rounding rules;
• Art. 33 AIERB – introduces the ex officio conversion by the Registry Agency.

These rules create legal certainty for businesses and are part of the broader regulatory environment, also analyzed in materials such as Sofia Offices: Good Location and Many Facilities.

3. What Are the Deadlines for Actions by Companies?

The law clearly distinguishes between actions performed automatically and those that require active steps by the companies.

3.1 Automatic Ex Officio Conversion

On 1 January 2026, the capital of all affected companies will be converted ex officio into euro in the Commercial Register.

3.2 Amendment of Constitutive Documents

By 31 December 2026, each company is required to update its articles of association, statutes, or deed of incorporation so that the capital is expressed in euro, and to file the documents for registration.

This requirement is often overlooked, but it is precisely the key to avoiding future legal and administrative problems.

4. Example

A company with capital of BGN 5,000 will have capital of approximately EUR 2,556.46 after conversion.

The partners retain the same percentage of participation, regardless of the resulting amount.

5. Risks of Non-Compliance

Failure to meet the deadline for updating the constitutive documents may lead to:

• refusals to register future changes;
• difficulties in selling shares or attracting investors;
• administrative sanctions.

6. Tax and Accounting Aspects

The conversion itself does not give rise to new tax liabilities. Nevertheless, it requires proper accounting treatment and synchronization between the Commercial Register, accounting records, and financial statements.

7. How Can SofiaOffices Help?

SofiaOffices offers comprehensive assistance – from legal analysis and preparation of updated constitutive documents to filing and monitoring registrations. For more useful materials and practical guidance, visit the SofiaOffices Blog.

8. Conclusion

The conversion of capital is an inevitable but fully manageable step with timely planning and professional support. Preparation now saves time, costs, and future legal risks.