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
Low Cost of Doing Business
Bulgaria has one of the most favorable tax regimes 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
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
Highly-Skilled 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
For More Information
Visit the InvestBulgaria Agency – a government institution providing information, contacts and project management support to potential investors or send your inquiry to our Trade Attaché