This Eastern European country with the ancient capital of Sofia has plenty more to offer beyond its rich heritage and fascinating culture. Being a part of the European Union, it attracts high net worth individuals from all over the world looking to live and work on the continent. The flat tax rate of 10% on personal income acts as yet another incentive for people looking to immigrate or obtain a foreign residency. That is, in addition to the active government support to attract ambitious individuals from around the globe. And gorgeous landscapes filled with snowy mountains, sandy beaches, plains, valleys, and rivers make it a truly unique place to live.

The EU membership brings as many, if not more, benefits to companies as it does to individuals. By definition, businesses registered in Bulgaria gain access to the entire European market with its capitalist institutions, highly developed infrastructure and countless commercial opportunities. As a competitive edge over its continental “rivals”, Bulgaria offers the lowest corporate tax of only 10%. The stable political situation and sustained economic growth further add to Bulgaria as a destination to set up and operate a business.

Undoubtedly, the key motivator to invest or do banking in Bulgaria is the well-established European financial institutions and the security that comes with them. The reporting and accounting standards in the country are in line with the most advanced world economies, which induces confidence in foreign investors. With the positive growth outlook, affordable labour and state’s support of the business, Bulgaria is an investment opportunity to be closely monitored.

Key Facts

Location

Southeastern Europe

Population

7.2 million

Neighboring countries

Romania, Serbia , Macedonia , Greece, Turkey

Average temperature (summer)

73°F (23°C)

Average temperature (winter)

37°F (3°C)

Languages

Bulgarian

Form of government

Parliamentary Republic

Corporate tax rate

10%

Currency

Bulgarian lev

GDP

$55.9 billion

GDP growth

3.40%

Inflation

2.80%

Unemployment rate

6.20%

Key industries

Heavy Industry, Power Engineering, Agriculture

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