Why Bulgaria

Discover more about this incredible country

Bulgaria is a small and welcoming country which offers many advantages. It has an easy access, big economic growth, only 10% tax on profits, low production and management costs, highly qualified and multilingual staff, and hospitable people. In Bulgaria there are opportunities to access European funds in various sectors and the possibility of managing your business remotely.

Being part of the Europeand Union and NATO, Bulgaria has a big potential in terms of investments, new business opportunities, lower cost for production and many more.

Country Profile

Population:

6 951 482

Urban population:

73%

Workforce

4.6 million

Capital:

Sofia

Currency

Bulgarian lev (BGN), pegged to the euro at 1.95583

Official Languages

Bulgarian

Corporate tax:

10%

Taxes on personal income:

10%

VAT 

20%

Low Cost of Doing Business

  • Bulgaria has the most favourable tax regime in Europe. Corporate income tax rate is 10%, the lowest in the EU. Personal income tax is 10 %, flat rate. Industries in high-unemployment areas are granted 0% tax rate;
  • There is a 2-year VAT exemption for imports of equipment for investment projects over €5 million, creating at least 50 jobs;
  • Depreciation time for computers and new manufacturing equipment is 2 years;
  • 5% withholding tax on dividends and liquidation quotas (0% for EU tax residents);
  • Bulgaria has one of the most competitive costs of labor in Central and Eastern Europe;
  • Favorable office rents and low cost of utilities. Bulgarian cost of electricity for industrial users is 70% of the European average;

Access to markets

Due to its location Bulgaria provides direct access to the following key markets:

  • European Union – zero tariff market with population of 500 million;
  • CIS – still not well penetrated market with a high potential;
  • Turkey – zero tariff market of near 80 million population;
  • Middle East – a market with high purchasing power;

Strategic location

Located at the heart of the Balkans, Bulgaria is a strategic logistics hub. Ease of transportation of cargo is provided by:

  • Five Pan-European corridors ( IV, VII, VII, XI, X), which pass through the country;
  • Transport program TRACECA, which connects Europe with Caucasian and Central Asian region;
  • Four major airports: Sofia, Plovdiv, Bourgas and Varna;
  • Two main seaports: Varna and Bourgas;
  • Numerous ports at the Danube River;

Source: InvestBulgaria Agency