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WELCOME TO DOING BUSINESS IN BULGARIA
When it comes to running a business, Bulgaria provides a very productive environment to do so. Doing business in Bulgaria is advantagerous for a multidude of reasons, including it's dynamic outsourcing market, well-educated and multilingual workforce, good infrastructure, and the fact that it has the lowest tax rates in the European uninon.
The Bulgarian economy is growing at a rapid pace and exports are booming, while its business-friendly environment and well-educated local workforce are attracting foreign investments. More and more foreign companies are moving in Bulgaria.
Bulgaria offers a qualified and cost-effective workforce, affordable office rents, low producrion and transport costs, and very competitive costs of doing business. When compared to other European union member states, Bulgaria definitely provides one of the most business-friendly and cost-effective environments.
ABOUT BULGARIA
- 5 Pan-European corridors cross our country, connecting Europe with the Middle East and Asia - (No. 4 from Germany to Istanbul; No. 7 Rhine, Main and Danube; No. 8 from Durres, Albania to Varna; No. 9 from Helsinki, Finland to Alexandropoulos, Greece and No 10 from Salzburg Austria to Thessaloniki, Greece);
- Well-developed infrastructure with airports in the 4 largest cities Sofia, Plovdiv, Varna and Burgas;
- Sea and river ports with well-developed terminals. As a member of the EU, Bulgaria offers free exports to all the other member states, separately the country has over 40 trade agreements with over 80 countries;
- Bulgaria offers highly qualified specialists in all sectors of the economy;
- Our country has a system of language high schools and there are 54 accredited higher education institutions. Statistics also show that every second Bulgarian speaks at least 1 foreign language;
- Competitive prices for doing business: attractive cost of utilities and office space rents;
- Bulgaria is a member of the Currency Board, through which the Bulgarian lev is pegged to the Euro at the rate of 1.95583 (1 EUR = BGN 1.95583);
- Apart from being an attractive investment destination, Bulgaria is also preferred by millions of foreign tourists every year because of the unique climate with 4 seasons, the incomparable nature, culture and traditions;
- Take the first step and let us welcome you with strong institutional support and attractive investment incentives. Invest in Bulgaria!
BULGARIA IN NUMBERS
| POPULATION | 6.4M |
| GDP | EUR 84.000 |
| EXPECTED GDP GROWTH IN 2024 | 3.2% |
| GDP PER CAPITA | EUR 2.294 |
| EMPLOYMENT RATE GDP 2023 | 53.9% |
| UNEMPLOYMENT RATE 2023 | 4.5% |
| FOREIGN DIRECT INVESTMENT | EUR 3.173 BILLION |
| IMPORTS | EUR 50.815 BILLION |
| EXPORTS | EUR 45.926 BILLION |
TAXATION RATES
| Corporate income tax - FLAT | 10% |
| Personal income tax - FLAT | 10% |
| General VAT rate | 20% |
| Withholding tax on dividends distributed to EU/EEA companies | 0% |
| Withholding tax on dividends distributed to non-EU/EEA companies | 5% |
| Taxes on labor as % of labour costs | 34.8% |
