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Business in Bulgaria

Life and Business in Bulgaria? The reasons to move to this beautiful country are many. The marketing and advertisement of the country itself are so poor that many western people do not have relevant information about life and business in Bulgaria. The incompetent statements from various politicians who have never been there make it even a scarier place. To find out the truth about this country just ask a foreigner who has spent a couple of months there.

Here are some facts about life and business in Bulgaria that will make you think:

  1. Stable economy and the lowest taxation rates within the European Union —> Corporate income tax is 10%; Personal income tax is a 10% flat rate; Dividend tax for individuals is 5%; Dividend tax for companies is 0%. Therefore doing business in Bulgaria is like doing business in the “tax haven” of Europe.
  2. In 2015, Bulgaria was named the best outsourcing destination by the UK’s National Outsourcing Association (NOA), and the BPO sector’s contribution to the country’s economy amounts to 3%. Follow the link and read more about Why Bulgaria Is A Top Outsourcing Destination.
  3. According to the latest research of the NSI (National Statistical Institute) regarding EXPENDITURE AND CONSUMPTION DURING THE FOURTH QUARTER OF 2015 a person who lives in Bulgaria spends on a monthly basis:
    – food and non-alcoholic beverages —>192.2€
    – housing (water, electricity, heating, furnishing and maintenance of the house) —> 100€;
    – health —> 30€;
    – alcoholic beverages and tobacco —> 27€;
    – clothing and footwear —> 27€;
    Therefore life and business in Bulgaria are very much cost effective. 
  4. Computer specialists and programmers in Bulgaria can afford much better life that their colleagues in Germany for example.  The salaries in Bulgaria have 2 times higher buying power.
    Yes… no matter how many times you rub your eyes, the numbers are correct.
  5. Another interesting fact is that according to EUROSTAT Bulgarians are №1 in the EU for owning their household without any mortgages. At the moment Real Estate in Bulgaria is still accessible for normal people, but It will not be always like this.

In the Capital Sofia, the prices for a normal apartment in a decent neighborhood vary from 800€ to 1000€ per sq. m. So you can buy a one bedroom apartment for 55 000€ to 75 000€. You can buy a two bedroom apartment for about 80 000€ to 120 000€.

Bulgarians are tolerant people and they are always ready to show you the best from the Bulgarian culture & tradition. Along the good ones are also wolves who look at you as a walking wallet and you should also be careful and not too naive.

One of my businesses is real estate and now I am going to share some valuable information which will protect you from loosing money when you want to buy a real estate in Bulgaria. Follow the link to read the 6 Vital Rules For Buying A Real Estate In Bulgaria.

Toma Staykov

Toma Staykov