Introduction

Bulgaria is a great place to start a business. The country's well-developed infrastructure and strategic location have made it one of the fastest-growing economies in Europe. Bulgaria offers many advantages for new entrepreneurs, including low operating costs and tax rates, as well as an abundance of natural resources and a highly skilled workforce.

Location, location, location

Location, location, location. The importance of a country's location can't be overstated--it's one of the most important factors in determining if it will be successful as a base for your business.

Bulgaria has several advantages when it comes to this aspect:

●     It's close to many other countries. Bulgaria is located in southeastern Europe and borders Romania, Serbia and Turkey. This means that you can easily travel throughout Europe and Asia by bus or train from Bulgaria without having to go through customs at any point during the journey (if you're traveling within the EU). This makes international trade much easier than if you were based somewhere more remote like Greenland or Australia!

●     There are plenty of places nearby where English is spoken fluently (and French too). If your target market includes tourists from Western Europe then this should make things easier for them when visiting your store/office etc., because they won't need translation services like those offered by translators like [insert link here].

Tax rates and incentives

Bulgaria has a flat tax rate of 10%. This means that you don't have to pay any more taxes on your income than the standard rate. If you're an individual business owner, your taxable income is determined by subtracting expenses from revenue and then calculating how much profit (or loss) remains. The profit is taxed at 10%, but losses can be carried forward for up to five years in order to offset future profits.

Corporate owners are taxed similarly; however, they may also be subject to additional levies like social security contributions and property taxes if their company owns real estate or equipment in Bulgaria.

Employment costs and regulations

Bulgaria is an excellent place to do business. The country has a low corporate tax rate at 10%, and there are no withholding taxes on dividends or interest payments. The minimum wage in Bulgaria stands at EUR 300 per month, which is much lower than the European average of EUR 716 per month.

The average salary in Bulgaria stands at EUR 607 per month, which means that your employees will be able to live comfortably while working for your company!

The cost of living in Bulgaria is also very low compared with other European countries--the average monthly expenditure on food alone is only EUR 139 (compared with an EU average of EUR 230).

Bulgaria is a great place to start a business.

Bulgaria is a great place to start a business. The country has a stable economy, low cost of living and high quality of life. There are also very few crime rates in Bulgaria compared to other countries in Europe, making it an ideal location for those looking for somewhere safe and affordable to live with their families.

What are the requirements to set up a business in Bulgaria

Setting up a business in Bulgaria is relatively easy and straightforward, particularly if you are already familiar with setting up a company or operating as an individual entrepreneur. There are no specific requirements to set up a business in Bulgaria, but there are some general guidelines for doing it properly.

●     The minimum capital required for registering your new company is EUR 500 (or its equivalent).

●     You will also need:

●     A valid passport or ID card;  - Proof of address;  - Bank statements showing sufficient funds (at least 2 months' worth)

Can non-residents set up a business in Bulgaria

If you are not a resident of Bulgaria, it will take some time to set up your business. However, there are two ways in which this can be done:

●     Apply for a visa and work permit at the border when entering the country. This will allow you to stay in Bulgaria for 90 days with no restrictions on employment activities during this period. After those 90 days have passed, however, you must apply for residence permit if you wish to continue working here (or stay longer).

●     Apply for residence permit directly upon arrival by presenting all required documents at one of five Bulgarian diplomatic offices around the world (New York City; Chicago; Los Angeles; Houston/Dallas; Miami).

Can non-residents apply for a business bank account in Bulgaria

Yes, non-residents can apply for a business bank account in Bulgaria. To open an account you will need to provide the following documents:

●     Passport or identity card

●     Proof of address (e.g. utility bill)

●     Proof of employment status and income (e.g., last 3 months' payslips)

Conclusion

We hope this article has given you a better idea of how to set up a business in Bulgaria. If you have any questions or would like to discuss setting up a business with us, please don't hesitate to contact us!

Please note that a jurisdictions’ requirements may change from time to time. Please contact us for current requirements in this jurisdiction.