As of 1 August 2023, Bulgarian law provides for a new legal form to organise legal entities: the company with variable capital. This legal form is intended to allow modern companies in the IT sector to enter the market without requiring large amounts of capital or administrative resources. A major advantage of the new company form for founders is that shareholds have wide discretion in designing the articles of association. In particular, different classes of shares can be created, such as shares with disproportionate voting rights or with a right to a disproportionate share of profits. The new regulation also provides for simplifications in corporate governance, and the possibility of digital general shareholder meetings. The commercial register is scheduled to be technically capable of registering companies with variable capital from mid-2024.