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WHY BULGARIA 2018-08-10T12:47:23+00:00

WHY TO CHOOSE BULGARIA

Political and business stability

  • Bulgaria is a member of the European Union, NATO and WTO
  • The stability of the currency is supported by the currency board, pegging the Bulgarian lev to the euro at the level of 1.96

Human resources

  • Work force is well educated, highly skilled and multilingual
  • 62.2 % of the total population is in working age (appr. 4.6 million)
  • 60 000 students annually graduate from 51 universities
  • 98% of the high school students study a foreign language (usually English) and 73% study a second language (mainly German, French, Spanish, Russian)
  • 94% of the schools have Internet access

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
  • North African market

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

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