Welcome to ASB Accounting Services Bulgaria – your trusted partner for accounting, tax, and business services in Bulgaria!
Bulgaria offers favorable conditions for business development due to several factors, including macroeconomic stability, strategic geographical location, and an attractive tax regime. One of the most appealing aspects and a key reason for both local and foreign investors to choose Bulgaria as a destination for establishing a new company is the low tax burden, which creates a competitive advantage for the country both regionally and globally.
In Bulgaria, the corporate tax on profits is one of the lowest in the European Union—only 10%. This low rate provides significant relief for entrepreneurs seeking to optimize their tax obligations, manage costs efficiently, and maximize profits when starting a business in the country. Additionally, Bulgaria has a flat tax on personal income, also set at 10%.
This means that both corporations and individuals are subject to relatively low tax rates, which can stimulate economic activity and business growth. Low taxes encourage investment, promote job creation, and contribute to accelerating economic growth. The low income tax makes Bulgaria attractive not only to businesses but also to highly skilled professionals seeking competitive salaries and low tax rates.
However, taxation is not the only favorable factor. Bulgaria has a stable macroeconomic environment with relatively low inflation and a stable currency, which is pegged to the euro. This reduces the risk of currency fluctuations and creates predictability for long-term business financial planning.
Other favorable business conditions include:
Strategic Geographical Location For Bussines
Bulgaria’s central location in Europe makes it a convenient logistics hub with easy access to markets in Europe, Asia, and the Middle East. This location provides easy access to markets across Europe, Russia, Turkey, and the Middle East. Additionally, the country has good transportation connections, including roads, railways, and airports, which facilitate trade and the transportation of goods.
Skilled Workforce
Bulgaria has a highly skilled labor force with relatively low labor costs compared to many other EU countries. This makes it attractive to companies seeking to optimize their production costs. Many young people speak English and have good computer literacy.
EU Membership
Bulgaria has been a member of the EU since 2007 and has adopted policies and regulations aligned with European standards. This political stability contributes to a favorable business environment, as investors can be confident that their investments are protected and supported by a stable regulatory framework. Bulgaria’s EU membership also provides a stable economic environment and access to the European Single Market.
This allows companies operating in the country to benefit from the free movement of goods, services, capital, and people within the European Union. Bulgaria’s strategic geographical location at the crossroads of Europe, Asia, and the Middle East further enhances opportunities for international trade and logistics. As a full EU member, Bulgaria has access to EU funding, which can support business development. This includes various programs and funds that can be used for financing projects, research and development, and improving the competitiveness of enterprises.
Developed Infrastructure
The country has made significant investments in developing its infrastructure, which facilitates business operations and improves living conditions. An important factor is the presence of transport corridors that connect the country with key markets. Additionally, the government actively promotes investments through various incentives and programs to support businesses, particularly in innovative and high-tech sectors.
Growing Economy
The Bulgarian economy has seen significant growth in recent years, with GDP increasing by an average of around 3% annually. This economic growth creates a favorable environment for businesses, as demand for goods and services rises. Moreover, a growing economy means there is potential for foreign companies to enter new markets and expand their operations.
Low taxes, combined with a skilled workforce, strategic geographical location, and EU membership, make Bulgaria one of the most attractive investment destinations in the region. Contact ASB Accounting Services Bulgaria today and discover more opportunities for your business.