Doing business through Bulgaria.
Bulgaria is member of European Union (EU) since year 2007.
Bulgaria, so called Land of Roses, is a country located in Southeastern Europe. It is bordered by Romania to the north, Serbia and Macedonia to the west, Greece and Turkey to the south, and the Black Sea to the east. With a territory of 110,994 square kilometers, Bulgaria is Europe's 14th-largest country.
Bulgaria has a population of 7,351,234 as of 01.02.2011, with over 5 million people living in the cities, making it a highly urbanized country. About 60% of the working age population (25-64 years) speak at least one foreign language. Approximately 80% of the population in active age for work have secondary or higher education
The most important sectors of Bulgaria’s economy in 2014 were industry (23.5 %), wholesale and retail trade, transport, accommodation and food services (21.3 %) and public administration, defence, education, human health and social work activities (13.2 %).
Bulgaria’s main export partners are Germany, Turkey and Italy while its main import partners are Russia, Germany and Italy.
Bulgaria offers a combination of political and macroeconomic stability and incentives for doing business. It is a stable parliamentary democracy, EU, NATO and WTO member. Bulgaria’s currency is ‘lev’ (BGN) and it is fixed to the Euro under a currency board arrangement. The country has the lowest tax rate and one of the lowest labor costs in the EU coupled with special incentives for investors. Solid EU funding is provided to the state – more than €8 bn in EU funds over the next years.
FACTS IN NUMBERS
| Corporate income tax (profit tax ) | 10% (flat) |
| Personal income tax | 10% (flat) |
| Dividends tax individuals | 5% |
| Dividends tax within EU | 0% |
| Dividends tax third countries | 5% |
| Fiscal declarations | Trimestrial |
| Corporate tax payment | Annual |
| VAT declarations (per month) | 1 |
| VAT return | 45 days |
| EUR exchange rate | Fixed 1 EUR = 1.95583 BGN |
| VAT % | 20% |
| VAT within the EU | 0% |
| Minimum formation capital | 1 EUR (= 2 BGN) |
| Minimum wage (gross) 2015 | 194 EUR ( = 380 BGN) |
AND MORE:
• Powerful tool for international tax planning
• Lowest business operational costs in Europe
• Low labour costs
• Well-educated and highly-skilled work force
• Macroeconomic and financial stability
• Government support for priority investment projects
• Two hours from all main EU airport hubs
• Links Europe and Asia
• Member of EU and NATO
• Stunning country and friendly people