Bulgaria MPs Approve Symbolic EUR 1 as Capital for Starting Business

Business | September 17, 2009, Thursday // 20:12
Bulgaria MPs Approve Symbolic EUR 1 as Co Registration Capital: Bulgaria MPs Approve Symbolic EUR 1 as Capital for Starting Business Bulgarian MPs approved the symbolic sum of EUR 1 as sufficient capital to register a business. File Photo

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

The Members of the Parliament approved Thursday on first read 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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Tags: registration capital, Trade Act, Simeon Djankov, GERB, anti-crisis program
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