Business in Bulgaria

bulgaria_1

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

  • Bulgaria has one of the lowest government debts in the European Union (18.5 % of GDP) and one of the lowest budget deficits (0.8%) as of 2012

 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 together with Cyprus. 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

 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

 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

Invest in Bulgaria (brochure 2013)

General Brochure Bulgaria (PDF)

Invest in Bulgaria Legal Guide (2012)

Legal Guide 2012 (PDF)

Catalog of investment Projects in Bulgaria

Catalog of Investment Projects in Bulgaria (PDF)

Source: Invest Bulgaria Agency

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