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Bulgarian Parliament Confirms EUR 1 Capital for Starting Business

The required capital to register a limited liability company has been lowered to the symbolic BGN 2 or EUR 1 by the Bulgarian Parliament.

The MPs approved the change in Bulgaria’s Commercial Law Friday at the second and final reading of the amendments in the Trade Act, lowering the required registration amount from BGN 5 000 to BGN 2.

The proposal had received the preliminary approval of the new cabinet in August and was promised by the now ruling Citizens for European Development of Bulgaria (GERB) party before the July general elections.

On his part, Finance Minister, Simeon Djankov, included the measure in the the anti-crisis packet as a way to encourage local business.

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