Bulgarian Parliament approved the initial capital to be 2 BGN or approximately 1 EUR
The initial capital for the registration of a limited liability company (Ltd.) is reduced from 5000 to 2 levs. Now this is a fact by passing amendments to the Commercial Code on first reading. According to the Council of Ministers with the implementation of this measure the level of entrepreneurship in Bulgaria will increase, which means more jobs, new services and products.
The Chairman of the Parliamentary Economic Committee Martin Dimitrov commented that this is the first real reform act of the Parliament, and will help young people to do business.
The measure was introduced in many European countries where the fee for registration of a company is just one euro.
The proposal for a symbolic capital for initial registration limited liability company was announced by the Government of GERB as one of the anti-crisis measures to stimulate business.
Bulgaria had had one of the highest levels of minimum capital in the world. The World Bank „How to do business“ report defined previously that Bulgaria was the country with the 36-th highest capital of 181 countries. With a higher minimum capital are countries such as Mongolia, Lebanon, Mozambique, Congo, Benin, Syria.
Nearly 100 countries have zero minimum capital requirements. Among them are Australia, Canada, Ireland, Israel, New Zealand, Saudi Arabia, the United States, Great Britain, Japan, Singapore, Hong Kong, France and Malaysia.