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BUSINESS ENVIRONMENT IN

BULGARIA

Business environment in 

BULGARIA

Bulgaria's strategic location in Southeast Europe positions it as a key player in the business landscape. Nestled at the crossroads of Europe, Asia, and the Middle East, Bulgaria serves as a natural gateway to both the European Union and the rapidly growing markets of the Balkans. Its proximity to major European cities and ports provides businesses with efficient access to a wide consumer base.

​This advantageous geographical position not only facilitates trade but also fosters cultural and economic connections, making Bulgaria an ideal hub for companies looking to expand their reach across diverse regions.

Taxation

Bulgaria's appeal for businesses is further heightened by its favorable tax environment. The country boasts one of the lowest corporate income tax rates in the European Union, currently set at a flat rate of 10%. This competitive tax rate not only allows businesses to retain a larger share of their profits but also serves as a strong incentive for investment.

Additionally, Bulgaria has a straightforward and transparent tax system, reducing the burden of compliance for companies.

With lower taxes and a commitment to minimizing bureaucratic hurdles, Bulgaria provides an enticing fiscal landscape for entrepreneurs seeking to optimize their financial strategies and maximize returns on investment.

Human Resources

Bulgaria's human resources landscape contributes significantly to its attractiveness for businesses. The country boasts a well-educated and skilled workforce, with a strong emphasis on STEM (science, technology, engineering, and mathematics) disciplines. Many Bulgarians are proficient in multiple languages, including English, which is a valuable asset for companies engaging in international business.

Furthermore, the government has been investing in initiatives to enhance vocational training and education, ensuring a continuous pool of talent for various industries. Overall, Bulgaria's human resources provide a solid foundation for businesses looking to thrive in a dynamic and competitive global market.

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Labor Costs

Bulgaria's appeal for businesses is amplified by its competitive labor costs. As of January 2022, the average monthly gross wage in Bulgaria was significantly lower than many Western European countries, with the hourly labour costs being the lowest in the European Union, making it an attractive destination for companies seeking cost-effective solutions.

The relatively low labor costs do not compromise the quality of the workforce, as Bulgaria boasts a skilled and educated talent pool. This combination of affordability and expertise positions Bulgaria as an enticing option for businesses looking to optimize operational expenses without compromising on the capabilities of their workforce.

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Stability

Bulgaria, having joined the European Union in 2007, maintains a significant and integral relationship with the EU. The EU membership has provided Bulgaria with access to the single market, fostering trade and economic growth. Moreover, the country benefits from EU funds and programs aimed at supporting infrastructure development, regional cohesion, and other key sectors

Bulgaria is also an active member of both NATO and the WTO, solidifying its commitment to international security and trade. WTO membership provides Bulgaria with a platform to engage in trade negotiations, resolve disputes, and access global markets.

By participatingin these organizations, Bulgaria not only strengthens its ties with the international community but also benefits from shared security and economic frameworks that contribute to the country's overall stability and prosperity.

Strategic Location and Logistics

Bulgaria's infrastructure and logistics offer a host of benefits for businesses. The country has been investing strategically in improving its transportation networks, including road, rail, and air connectivity. This commitment enhances the efficiency of supply chains and facilitates the seamless movement of goods across borders. The well-developed and interconnected road system allows for quick and cost-effective transportation, while ongoing projects continue to upgrade and expand the infrastructure. Bulgaria's strategic location at the crossroads of Europe positions it as a key logistics hub, enabling businesses to reach diverse markets with ease.

Bulgaria has access to:

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  • Airports in Sofia, Varna, Plovdiv and Burgas

  • Black sea ports in Varna and Burgas

  • Ports on Danube in Ruse, Vidin, Lom,...

  • Well-developed highway system (A1,A2,A3,A4)

  • Part of TRACECA program, which connects Europe, Caucasus and Asia

Top Companies in Bulgaria

  • AURUBIS BULGARIA AD

  • INDEPENDENT BULGARIAN ENERGY EXCHANGE EAD

  • LUKOIL-BULGARIA EOOD

  • ASTRA BIOPLANT EOOD

  • BA GLASS BULGARIA EAD

  • KOZLODUY NPP EAD

  • OLIVA AD

  • NATSIONALNA ELEKTRICHESKA KOMPANIA EAD

  • KAUFLAND BULGARIA EOOD & CO.

  • ​BULGARGAZ EAD

  • N AUTO SOFIA EAD

  • CAMBRO OZAY BG EOOD

  • B AND B BULGARIA OOD

  • ZIT INTERNATIONAL OOD

  • AMS OOD

  • BAYER-BG EOOD

  • NORMAL OOD

  • TELENOR BULGARIA EAD

  • ALGOLEKS EOOD

  • ​BAUMAX BULGARIA OOD

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