Advantages and Disadvantages of a Bulgarian Company
What are the advantages and disadvantages of a Bulgarian Company? This is a questions that we get asked a lot on our website and contact form.
So in this article we would like to go over the main advantages and disadvantages that you may face when thinking about opening a company in Bulgaria.
First of all it is the economic environment.
The Bulgarian economy has been steadily growing for the past 5 years. This should show investors that both the economy and fiscal policy are moving at a steady and predicable pace. Something that is of an utmost importance for business owners.
The second major factor are taxes. With a flat corporate tax of 10% and income tax of 10% the country is currently the tax haven of Europe.
Therefore, by registering a company in Bulgaria business owners and investors can take advantage of this favorable taxation system. And by doing this gaining a significant competitive advantage over their competitors.
Furthermore, business also open an international bank account at some of the larges Bulgarian banks. Only the business owner and individual gain access to it through online banking giving them the opportunity to access the European financial system.
So what are the disadvantages of such a decision?
If you do not speak the language or you are not familiar with the legal system a move of this kind may seem worrisome. However, there are legal companies who are experienced and offer clients the service to incorporate a company in Bulgaria remotely without the clients even having to visit the country.