Bulgaria, truths and myths

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Bulgaria, truths and myths

Over the last 15 years, I could say that companies from all over Europe but also very large companies operating globally have moved their business to Bulgaria: their production, their Logistic, or their profits. Bulgaria is a very friendly country, with great security, where you will not feel in danger anytime around the clock.

Bulgaria’s tax system is very simple and the cost is clearly low. Here, the profit tax is 10%, the share tax is 5%, the VAT is 20%, while the total cost of insurance contributions is 40% with a lower salary of 586 leva.

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Bulgaria’s tax system is designed in such a way as to provide equal opportunities between a large and a small company. However, the banking system – unlike the tax system – is very difficult and at a very high cost.

In the last two years or so, following some European Union directives, it is very difficult for a foreigner (a natural or a legal person) to open a bank account in Bulgaria. However, if someone wants to relocate his business to Bulgaria, the cost of relocation is clearly very low.

There are several European programs running in Bulgaria, and the subsidy guarantees 60%.

In the city of Sofia, the capital of Bulgaria, if someone wants to rent an office, he should estimate from 10 € to 35 € per m2, depending on the category of the building and the location. For the land market, referring to Industrial land, an average price is 15 € per m2.

You can find more information about Bulgaria within the site. Do not hesitate to send us a message for any query.

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