When is the right time to open a bank account in Bulgaria?
When is the right time to open a bank account in Bulgaria? With increasingly greater popularity of the Bulgarian bank system and the advantages it offers this is a question that is often asked.
Therefore, in this article we would like to elaborate on when will be the right time for you to open an international bank account.
The most vital stage for any business is its first year.
This is why as a business owner you should do everything you can to retain as much of the earnings and invest them back into the company. This will ensure that you are growing at faster pace than your competitors.
So we now know when is the best time to start this very important move.
The Second question is why should you be interested in opening an account in Bulgaria?
A stable economic environment with a steadily growing GDP is one of the main factors. This should signal investors that their operating income and turnover will be safe.
Furthermore, a stress test by the European Central Bank was conducted and showed that all Bulgarian banks were highly liquid.
As per European Law and regulations all bank deposits up to 100 000 EUR are 100 percent guaranteed by the government.
Because of the low level of the income and corporate tax in Bulgaria (only 10%) it provides individuals and companies the chance to minimize their tax expense by re-directing their international incomes in the Bulgarian Bank Account.
By using the services of a professional law firm you can open an international Bank Account in Bulgaria without ever having to visit the country.