Why are international bank accounts becoming so popular?
Is there a reason as to why international bank accounts are becoming so popular? This is a question that we often get on our website and phone lines.
Therefore, in this article we would like to briefly go over the main points as to why this is the case. And if you should consider Bulgaria as a place to open a bank account in.
First of all, Bulgaria`s macroeconomic environment is stable with a steadily growing GDP.
This is an important factor that should be noted as the bank security is closely tied to the macroeconomic factors and the countries monetary policy.
Another point worth mentioning is the fact that as with all European Union member bank deposits up to 100 000 Euros are 100 percent guaranteed by the government.
Furthermore, Bulgaria`s national currency the Bulgarian Lev (BGN) is pegged in value to the EURO (EUR). This means that its fluctuations and value are highly predictable.
As Bulgaria is currently a tax haven within Europe it also presents another interesting opportunity. Because of the low income tax and corporate tax, it offers account holders the chance to minimize their tax expenses by redirecting their international incomes to their Bulgarian Bank Account.
So the next question is how can his be achieved?
Here at Bulgarian Law we have 20 years of experience in field. Our team of lawyers, accountants, solicitors and economist are up to date with all legislative changes.
This allows us to offer our clients the possibility to open a bank account without ever having to visit Bulgaria personally.
Does this sound like something you may be interested in? Let us make you the best decision for you and your business. Contact us.
The initial consultation is always free of charge for you.