Is it a good idea to open a company in Bulgaria?

Is it a good idea to open a company in Bulgaria ? This is a question that is coming up more and more often because of the countries booming economic and favorable tax laws.

We will go in greater detail as to why is it one of the best business decisions currently.

First off we should look at the macroeconomic picture.

The GDP of Bulgaria has been growing with a steady pace since 2012.

This makes it a favorable destination for long term investments. Latest research shows that there is a lot of available skilled labor for employment.
Furthermore because of the costs these are available for a much lower rates than any other countries in Western Europe.

The Second and foremost reason is the taxation system. With a corporate Tax of flat 10% and a personal tax of 10% this makes the country a tax haven within the European system. Something that should be overlooked.
Additionally, as part of the European System Bulgarian companies gain access to a bank account that can be operated remotely and as such can freely transfer fund with very low fees within the EU.

The next question that arises is:

Can all this be done remotely?

And the answer is yes. By using the services of a professional and established firms the whole process can be done remotely. So you can have a company incorporated in Bulgaria with a bank account set up in less than a week.

Does this sound like something you might be interested in?
Let us help you make the best decision for your business. At Bulgarialaw we have 20 years of experience in the field and a team of lawyers, accountants and economists that can assist you in every step of the way.