Republic of Bulgaria
Capital: Sofia HDI: 0.777 (58th)
GDP (PPP): $128.6 billion
Population: ~ 7.1 million Currency: Lev
Bulgaria, as a former communist bloc country and now a member of the EU, has since the 1990’s focused on switching over to a free market economy and attracting foreign businesses through low, flat corporate income taxes of 10%. The country has been making concerted efforts to crack down on corruption and organized crime, with the goal of making Bulgaria an increasingly better and better environment in which to do business. Economic development and reforms resulted in Standard & Poor upgrading the nation’s investment outlook from “negative” to “positive” between 2009 and 2010. This economic development, cheap costs of living, and low corporate taxes have resulted in the nation attracting many major organizations such as IBM, Siemens, and Hewlett Packard.
Doing Business in Bulgaria
This economy profile presents the Doing Business indicators for Bulgaria. To allow useful comparison, it also provides data for other selected economies (comparator economies) for each indicator. The data in this report are current as of June
1, 2014 (except for the paying taxes indicators, which cover the period January–December 2013).
Bulgaria Economy Profile
Bulgaria, a former Communist country that entered the EU on 1 January 2007, averaged more than 6% annual growth from 2004 to 2008, driven by significant amounts of bank lending, consumption, and foreign direct investment.
Industry Trends & Business Climate
Market Research Bulgaria – Euromonitor
Bulgarian Market Analysis
As a result of being part of a developing business environment, today’s Bulgarian market is characterized by turbulence, its own complexity, growing diversity and increasing competition. Many trends, threats and opportunities are unpredictable.
Establishing a Presence
Starting a Business in Bulgaria
Overview of Bulgarian Economy – This page summarizes Doing Business 2015 data for Bulgaria. The first section presents the Ease of Doing Business rank (out of 189 economies) and the distance to frontier (DTF)** measure, overall and by topic. The second section summarizes the key indicators for each topic benchmarked against regional averages.
Starting a business – Invest Bulgaria Agency
We created this sector with the idea to help the investors who wish to start a business in Bulgaria. It provides detailed information on the key steps in the investment process…
Business Types – Bulgaria Guide: Setting up a company in Bulgaria
Limited liability companies and Sole proprietor entities are the most popular business units in Bulgaria.
Business Types – Establishing Business in Bulgaria
The most appropriate types of companies for carrying out business in Bulgaria are: a private limited company, a public limited company, a single-person private limited company, a holding, a branch, and a representative office.
Business Registration Requirements – Company Registration in Bulgaria
Bulgarian government website that provides business registration services.
Business Registration Requirements – How to Open a Company in Bulgaria … – YouTube
youtube video from BridgewestEU on starting and registering a company in Bulgaria.
Corporate Tax Rates in Bulgaria
The Corporate Tax Rate in Bulgaria stands at 10 percent. Corporate Tax Rate in Bulgaria averaged 20.88 percent from 1995 until 2015, reaching an all time high of 40.20 percent in 1997 and a record low of 10 percent in 2007. Corporate Tax Rate in Bulgaria is reported by the National Revenue Agency, Bulgaria.
Corporate Taxes in Bulgaria
All companies and partnerships (including non-incorporated partnerships) are liable to corporate income tax. Corporate income is taxed at the rate of 10%.
Personal income tax
Bulgarian Government Tax website
Personal Income Tax – BulgariCo
From BulgariCo. Personal income tax rate is set at 10% flat on the taxable income. No income brackets with different tax rates are applicable.
Value Added Tax :: Ministry of Finance
VAT in Bulgaria is 20%. There is a reduced rate of 9% for hotel services. The value added tax (VAT) regime is regulated in the Value Added Tax Law (VATL). From the Bulgarian Ministry of Finance.
Value Added Tax Act
Bulgarian Value Added Tax Act Word Document Download.
Ministry of Foreign Affairs – Visa for Bulgaria
Visa information for tourists, students and business
Bulgaria Visa and Passport Requirements
To enter Bulgaria, a passport valid for at least three months beyond the length of stay is required by all nationals referred to in chart above, except (1) EU nationals holding a valid national ID card.
Work Permits – Invest Bulgaria.com
Foreign citizens may work in Bulgaria only after obtaining a work permit, unless otherwise stipulated by the law. The bases for obtaining a work permit are an employment contract, or a business trip to undertake certain activities.
Visas and Work Permits | Bulgaria
Understand the legal requirements for working in Bulgaria and find out how to apply for a work permit (Разрешение за работа)…
Bulgaria’s transportation infrastructure includes railroads, with 3,979 kilometers (2,472 miles) of track in use, and about 36,724 kilometers (22,819 miles) of paved roads, although some of these are unsatisfactory
- Infrastructure in Bulgaria – Invest Bulgaria http://www.investbulgaria.eu/a/about-bulgaria/economy/infrastructure.html
This section provides information some background and current information on the Bulgarian Telecommunications industry. It shows telecommunications services availability including fixed telephones for home and business, mobile phones, and internet. It outlines the top telecom players and Internet Service Providers in the country.
Telecom/IT – Bulgaria Country Report
Bulgaria has one of the highest telephone penetration rates in the region and almost 40 per cent of telephone subscribers.
Social Insurance – Unemployment Benefits | Bulgaria
Information about social security benefits paid to the unemployed in Bulgaria…
Employees – psc.egov.bg
In Bulgaria, the employment relations between the worker (employee) and the employer, and other relations directly linked to them are governed by the Labour Code (LC). The Code applies to employment relations of Bulgarian citizens, citizens of Member States of the European Union, countries that are parties to the Agreement on the European Economic Area or the Swiss Confederation with employers in Bulgaria, and Bulgarian employers abroad, unless otherwise stated in a law or an international agreement which is in force in the Republic of Bulgaria.
Labour law in Bulgaria
Bulgarian Labor Laws
Social Insurance – Unemployment Benefits
Bulgarian unemployment requirements
Standard of Living – Cost of Living in Bulgaria. Prices in Bulgaria.
Cost of living information includes price indices for rent, food, utilities, transportation, restaurants, clothing and more
Business Etiquette – Bulgaria Guide: Bulgarian business etiquette
In the past couple of decades Bulgarians have been trying to adopt Western standards in many aspects and business etiquette is one of them. However, some typical Bulgarian peculiarities exist.
Climate of the World: Bulgaria
Bulgaria has a temperate-continental climate with moderate features which is characteristic for Central Europe, with hot summers, long, cold winters and very distinct seasons. Abundant snowfalls may occur throughout the country from December to mid-March, especially if you are in the mountainous areas of Bulgaria.
CLimate – Bulgarian Weather & Climate Information
Bulgaria as a whole is considered to be in a moderate climate zone. There are two distinct climate zones with the Stara Planina Mountain being the watershed between them. One of the country’s best features is the distinct four seasons that they experience as well as the favorable climate year-round.
Safety in Bulgaria – US Department of State
US Department of State – Go to Safety and Security for updates from the Bulgarian government
Standard of Living – Cost of living in Bulgaria
Comparative analysis describes Bulgaria as relatively cheap and a much more affordable place to live when compared to most other countries in the European Union. However, the prices of some basic foodstuffs and electricity are constantly rising, which adds to the cost of living.
Business etiquette in Bulgaria – Bulgarian business culture
There has been rising interest in corporate social responsibility (CSR) in Bulgaria over the last decade. Companies have become more conscious about their influence on the environment and contribution to society as a whole.
Education – The Bulgarian School System
In Bulgaria there are public/state schools and private educational institutions at all levels – from infant to university years. For state/public schools, parents do not pay fees, however, for state/public crèches and kindergartens a small monthly fee is charged. This fee is fixed by the municipality in which the school is located and is the same for everyone. Both state and private universities charge tuition fees, which will vary depending on the institution.
Educational System of Bulgaria
Education in Bulgaria is mainly supported by the state through the Ministry of Education and Science. School education is compulsory for children from seven to sixteen years of age.
Holidays in Bulgaria – Time and Date
Schedule of national holidays and observances
Holidays – Bulgarian Official Holidays
Holiday schedule from the National Assembly of the Republic of Bulgaria.
Demographic information includes population, quality of life, health, sports, technology, energy and the environment
Demographics – Bulgaria Population 2015
Bulgaria is located in Southeastern Europe and is the 14th largest country in Europe, although it is fairly sparsely populated with just 66 people per square kilometer (171/sq mi), ranking 101st in the world. It’s estimated that Bulgaria has a population of 7.11 million in 2015, down from 7.16 million last year.
Safety in Bulgaria
Bulgaria is generally a peaceful place – we have not seen wars for many years, there are not many poison animals, natural disasters are rare and terrorist still do not target our cities. There is no convincing safety reasons to avoid visiting the country.
OEC: Bulgaria (BGR) Profile of Exports, Imports and Trade
Top exports and imports and top destination countries and countries of origin
Import Regulations – Customs and excise duties – psc.egov.bg
As a Member State of the European Union, Bulgaria is part of the Customs Union (Art. 28 of the Treaty on the Functioning of the European Union) which covers all trade of goods and involves the prohibition of customs duties on imports and exports between Member States and all charges having equivalent effect, and the adoption of a common customs tariff in their relations with third countries.
Import Regulations – Customs :: Home
Bulgarian Customs homepage
Trade Agreements – EFTA-Bulgaria Free Trade Agreement – International
Bulgaria underwent a political change in 1991 as the pro-Western Union of Democratic Forces (UDF) defeated Bulgarian Socialist Party (BSP) in the election. Since then, Bulgaria began the difficult transformation from a command economy to a market-oriented society.
Housing and Rentals
Bulgaria Housing & Rentals: Finding a nice place to live
Finding a nice place to live is always difficult. Bulgaria is no exception – getting the right accommodation can be hard, especially in large cities. Read our guide to room and flat rental and for buying an apartment or villa by the sea. Check out the classifieds for available property and people looking to share flats.
Property in Bulgaria for sale and rent
Property BG offers you the opportunity to purchase wide range of properties in Bulgaria.
The Official tourism portal of Bulgaria provides useful information and rich … for the contents of the page is brought by the beneficiary – The Ministry of Economy
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