Bulgaria

Bulgaria

WHY CHOOSE BULGARIA?
Factors luring foreigners to consider Bulgaria for doing business:

Extremely lenient tax policies

Bulgaria holds one of the lowest corporate and personal income tax rates in EU and worldwide – 10%, whilst Social Security Contributions are as well the lowest in EU. Dividends are taxed at 5%. Bulgaria has signed double-taxation avoidance treaties with over 60 countries.

Low costs and a potent workforce

the country holds one of the lowest average wages in the EU. However, there is an increasing number of highly skilled and educated personnel as an effect of the continuous EU funding and the booming IT sector in Bulgaria (many IT world giants are outsourcing activities in the country). Furthermore, the prices of raw materials, business costs and other services are as well at quite low levels in comparison to Western Countries.

Stable fiscal policies

The Bulgarian currency (lev) is fixed to the EUR (1EUR=1.9558). Since Bulgaria has joined the EU (2006), the economy has kept steady growth in a time of world uncertainty and the banking system has maintained excellent ratings and relations with foreign banks and other partners.

Swift and easy administrative and legal procedures

Normally the Bulgarian government has adopted a policy of reducing heavy regulatory and administrative burden on businesses in all sectors in order to stimulate entrepreneurship and foreign investment.

Excellent geopolitical location

Bulgaria is a transitional crossroad and transit territory between Western Europe, the Middle East and the Mediterranean. A number of major European transport corridors pass through Bulgaria. Paired with great nature and hospitable people, this only contributes to the number of other factors which makes Bulgaria an excellent place for business.

Bulgarian national currency lev (1EUR = 1,9558 lv)
Capital Sofia
Population 7,5 mln
TAXATION rate
Corporate income tax 10%
Personal Income tax 10%
Divident tax 5%
Value added tax 20%
Employee Social security contributions 13%
Employer social security contributions 18%

Taxes in Bulgaria

The lowest taxes and the lowest labor costs in the EU, combined with special incentives for investing.

10%

FLAT TAX

10%

CORPORATION TAX

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Foreign Affairs

Bulgaria maintains excellent diplomatic and trade relationships with its neighbors and with countries in the Middle and Far East, Europe, South and North America.

The country has signed double taxation treaties with 68 countries and a Bulgarian passport allows visa-free access to 153 countries. Bulgarian government has a strict fiscal policy and applies all directives and regulations of the EU legislation. By investing in Bulgaria entrepreneurs outside of the EU can benefit from the privileges and the full access to the European single market. As a member of WTO and OECD, the country actively adopts best practices in promoting entrepreneurial initiative endorsed by these organizations. The framework agreements facilitating trade between Bulgaria, the European Union, European Free Trade Association (EFTA) and Central European Free Trade Agreement (CEFTA) countries and Turkey have extended the market presence of domestic players.

Individual services


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