Frequently Asked Questions About Capital Conversion

Yes. Although the Registry Agency will automatically convert the registered capital amount in the Commercial Register to euro, if any discrepancy arises, each company is itself obligated to bring its company documents and internal instruments into line with the new currency, in order to avoid both a mismatch between the value of the shares and the total capital, and administrative penalties.

The automatic conversion carried out by the Registry Agency only concerns the capital amount stated in the Commercial Register. However, this conversion does not take into account the nominal value and number of the shares. In almost 100% of cases, this leads to mathematical discrepancies because of rounding at the fixed rate of 1 euro = 1.95583 leva. Our services offer a fast solution to precisely this problem, which the automatic system cannot resolve.

The law provides for property fines of between €76.69 and €766.94 for a first offence and between €153.39 and €1,533.88 for a repeat offence. Besides the possibility of a fine, there will also be a mismatch in the company's accounting records.

In general we prepare the documents within 24 hours of receiving confirmation of our proposal for the revised capital structure. The entry with the Commercial Register itself usually takes 3 business days after filing, though depending on the Registry Agency's workload a delay of up to 4–5 business days is possible.

No. Our service is 100% remote. We prepare all the documents, and you sign them either with a wet-ink signature on paper or a qualified electronic signature and send them back to us. If your current company document requires notarisation of a particular document, a visit to a notary will also be necessary — but even then, you only need to provide us with a scanned copy, not the original.