The standard case
The resolution is signed by the owner. If they are also the manager, the same person signs the declarations too — the whole procedure goes through with a single set of signatures, entirely remotely.
Home / Capital conversion / EOOD
EOOD share capital conversion — the simplest procedure
The sole owner decides alone — no general meeting, no majorities, and in most cases no notary. This is the capital conversion to euro — we prepare the resolution, the new articles of association and the declarations, and a lawyer files everything with the Commercial Register. The deadline for adopting the amendment: 31 December 2028 (Art. 32(1) of the Euro Introduction Act, as amended, State Gazette No. 82/2026).
State fee: €0.00
Documents within 2 business days
€99 incl. VAT — final price, everything included
The EOOD procedure
Five steps — you only sign
With an EOOD there is no general meeting and no coordination between partners: the owner adopts a resolution and the articles of association are brought into euro. Here is how it works with us:
Calculating the capital in euro
The registered capital is recalculated at the fixed rate of 1 EUR = 1.95583 BGN (Art. 5 of the Euro Introduction Act). The result is rarely a round number. The law allows an adjustment of up to ±5% (Art. 32(5) of the Euro Introduction Act; the Registry Agency accepts it for an EOOD too), in practice to reach a round figure — we assess whether and how to round, without letting you fall below the statutory minimum (€1 for an EOOD — Art. 117(1) of the Commerce Act).
We do this · on confirmation of the orderResolution of the sole owner of the capital
The owner adopts a written resolution to bring the capital into euro — the counterpart of the general meeting minutes at an OOD, but with a single signature. We draft it with the exact figures and grounds under the Euro Introduction Act.
We draft it · you signUpdated articles of association
The articles of association are brought into line with the capital in euro. We prepare a certified copy for announcement — and if your articles are old or have been amended many times, we consolidate them into a clean, up-to-date text at no extra charge.
We draft itDeclarations and application
We attach the mandatory declarations (incl. the one under Art. 13(4) of the Commercial Register Act) and complete the application for announcement. Every document goes through a lawyer's review before filing.
We draft it · within 2 business days in totalAnnouncement in the Commercial Register
A lawyer files electronically with a qualified electronic signature and tracks the company file until the register rules. No state fee is due — Art. 32(4) of the Euro Introduction Act. By law, filing is required when the company amends its articles on another ground or adjusts the capital by up to 5% (Art. 32(4) and (5) of the Euro Introduction Act).
We file it · Register: about 2–3 weeks (as at September 2026)Concrete figures
What an EOOD's capital looks like in euro
Sample calculations · rate 1.95583
| Capital today | Exact value in euro | Possible rounding (±5%) |
|---|---|---|
| BGN 2 | €1.02 | €1.00 or €1.05 |
| BGN 100 | €51.13 | €50.00 or €52.00 |
| BGN 5,000 | €2,556.46 | €2,500.00 or €2,600.00 |
| BGN 10,000 | €5,112.92 | €5,000.00 or €5,200.00 |
Rounding is a right, not an obligation. If the capital is adjusted by up to 5% under Art. 32(5), the new amount is entered in the Commercial Register (Art. 119(2) and Art. 140(1)–(3) of the Commerce Act) — in that case filing is mandatory. Which rounding is suitable for your company is assessed by the lawyer at the drafting stage. Calculate your capital with the calculator.
An option that keeps the capital unchanged: the capital is split into shares with a smaller nominal value — for example €0.01 each (the Registry Agency gives such an example); with a sole owner this is always possible (with €2,556.46, 255,646 shares). The resolution is adopted under the procedure for amending the articles, and the capital stays exactly at the ex officio figure.
Points to note with an EOOD
Three situations to watch out for
A parent company
The resolution is adopted by the competent body of the parent company and signed by its representative. We verify the authority to represent from the company file before drafting the documents.
A chain of owners
Each company goes through a separate procedure, but your data is entered only once. For 3+ companies, write to us for a combined quote — see also the terms for accountants.
Order for your EOOD
The UIC and your contact details — the matter starts from an official check of your company file (Art. 11 Commercial Register Act), and the lawyer only writes to you if something in the file requires a decision from you.
€99 incl. VAT — final price, everything included · €0.00 state fee · within 2 business days
EOOD questions
What EOOD owners ask us
Does the sole owner's resolution need to be notarized?
In most cases — no. The resolution to bring the capital into euro is signed by the owner and filed electronically together with the other documents. If your particular company file requires otherwise (e.g. special clauses in the articles of association), we will tell you before we begin — the check is part of the service.
My articles of association are from 2010 and have been amended several times. Is that a problem?
No — we prepare a consolidated up-to-date text with the capital in euro that reflects all previous amendments. This is included in the price and is a good moment to put the articles in order: when you later amend the articles on another ground, their full up-to-date text is presented to the Register (Art. 119(4) of the Commerce Act) — and it will already show the capital in euro.
The owner is a foreign national / lives abroad. Can it be done remotely?
Yes. The documents are signed remotely following our guidance, and the lawyer files electronically. Where needed, we also prepare a bilingual set (BG/EN) so the owner clearly understands what they are signing — mention it in the note to your order.
My capital is BGN 2. Is it even worth it?
The obligation does not depend on the size of the capital — it is the same for BGN 2 and for BGN 2 million. It is due by law (Art. 32(1) of the Euro Introduction Act), and if the amendment has not been adopted by 31 December 2028 there is also a property sanction of ≈ €77–767 (BGN 150–1,500) under Art. 59(5)(7) of the Euro Introduction Act. With a capital of BGN 2, the new value is €1.02, with the option to round to €1.00.
Can I change the registered seat or address at the same time?
Yes — and the law requires it: when you change the registered seat or address of management, the articles with the converted capital are attached to the application for that change (Art. 32(4) of the Euro Introduction Act, as amended, State Gazette No. 82/2026). A change of manager does not necessarily amend the articles — we check that at the review. Describe the planned change in the note to your order and you will receive a combined quote for both procedures together.
YC
Written by Yordan Cholakov — Partner & Co-Founder, Innovires Legal, registered in the Unified Register of Lawyers (Supreme Bar Council).
Innovires Legal files share capital conversions with the Commercial Register for Bulgarian companies and their foreign owners. Current as at September 2026 (Euro Introduction Act as amended, State Gazette No. 82/2026).
Innovires Legal files share capital conversions with the Commercial Register for Bulgarian companies and their foreign owners. Current as at September 2026 (Euro Introduction Act as amended, State Gazette No. 82/2026).