Bulgaria is a fully functional market economy, recognizing a high degree of macroeconomic stability and working market mechanisms. The Bulgarian economy is a stable and predictable macroeconomic environment. Careful fiscal discipline and strong foreign investments have provided with sustained economic growth.
Bulgaria offers to foreign investors competitive business costs related to other countries. For western European standards Bulgaria is considered to be a inexpensive place and therefore a really good chance to gain profits. Investors can still find some outstanding values on the market and numerous opportunities.
The political situation in Bulgaria is stable and the legislature, the executive and the judiciary are independent of the parliament. As of January 1st 2007 Bulgaria is a part of the European Union and has harmonized its legal system in line with the EU requirements. In April 2004 the country became member of NATO.
Cost of Business
Bulgaria offers foreign investors some of the world’s most competitive business costs. Real estate investment has produced a plentiful supply of modern offices at very favorable prices. The financial system is completely stable, enriched with many local and foreign investments. Banks offer extremely attractive terms and rates on deposits.
Bulgaria is the tax heaven of Europe. Corporate tax is 10%. Bulgaria has signed agreements to avoid double taxation with 58 countries all around the world.
Foreign investment in Bulgaria is dynamic and massive. During recent years, a significant number of international companies have opened offices in Bulgaria. As a result of a liberal financial policy and continuous economic growth, Bulgaria has become very attractive to foreign investments. In addition, local companies are also increasing their share of business in Bulgaria and abroad.
Bulgaria’s working population consists of around 4.8 million highly educated and skilled men and women. The literacy rate in Bulgaria is 93%. A high percentage of the work force has completed some form of secondary, technical, or vocational education. Many Bulgarians have strong backgrounds in engineering, medicine, economics and the sciences. The aptitude of workers and the relative low cost of labour are considerable incentives for foreign companies to invest in Bulgaria.
Bulgaria has a traditionally strong education system. There are over forty Higher Education institutions in Bulgaria offering degrees at the undergraduate and graduate level. There are nursery schools available from the age of 2 years old and this gives children a relaxed atmosphere to learn the language when coming to live here. There are also schools which teach 100% in English for the English speaking students.
Compared with other European countries, Bulgaria is still very cheap. The price of renovation work is also really cheap so whether you decide to renovate your house and get a larger market when selling or to just keep hold of the house and flip it when prices increase. You are set to make a good profit.
Quality of Life
Bulgaria and its capital Sofia offer a cosmopolitan quality of life that is regarded as among the highest in Europe. For years a real effort has been made in order to preserve the country’s rich and unspoilt flora and fauna. As a result, today’s Bulgaria is ecologically one of the purest countries in Europe, with exceptionally clear air and water resources.
Not only the quality of life in Bulgaria is good, but the cost of living is one of the lowest in Europe. A meal for two, made from organically pure products and including a bottle of nice wine will not cost you more than ten Euros.