Business Infrastructure

Main frame

Trade infrastructure in Bulgaria offers a civilized environment in which pleasant living and working are combined with low operating costs and lower maintenance costs.

There are more than enough university graduates, available to work in all sectors of economy.

Bulgaria is served by four international airports in Sofia, Plovdiv, Varna and Bourgas, which are recently expanded and upgraded to the highest international standards. Airports handle about 400 scheduled flights each week by 20 international airlines and charter flights. As a result Bulgaria is a major international transit station for commercial air transport. Maritime traffic is served by two multifunctional ports in Bourgas and Varna.

The procedure of launching a business is relatively simplified, which attracts more companies willing to invest in the recent years. The creation of legal entity in Bulgaria can be performed within two week and allows the company to immediately start work. More information can be found in the section companies establishment.

Access to international markets

Bulgaria-based entities can directly cooperate with foreign companies and expand into international markets. Now there are many multinational companies investing on Bulgarian market.

Exchange controls

Bulgaria hasn’t yet joined the Euro area, but our monetary unit is pegged on the euro. Currently there are no restrictions on capital movements and investment between the citizens of Bulgaria and the citizens of member states of the European Union or third countries.

Laws

The bill approved by the Council of Ministers on July 29, 1997 is actually slightly enlarged and improved version of the Law for Economic Activity of Foreign Persons and Protection of Foreign Investments (ZCI) 1992, which was rightly regarded as liberal and formally giving sufficient protection to foreign investors.

Some of the improvements in the bill compared to ZCI are:

broader statutory definition of foreign investment - to give protection to a wider range of rights belonging to foreign investors, and achieved a further approximation of national legislation with the treaties for the protection of investment signed by Bulgaria;

there are special incentives - a reduction or exemption from certain taxes and customs duties - to investors, making non-cash contributions such as shareholders in Bulgarian companies or participating in "priority" investment projects;

more detailed, though not sufficiently complete system of structure and activities of the Foreign Investment Agency.

Interesting and certainly not undisputed is the proposed tax incentive for investment projects approved as “priority” of the Council of Ministers.

Bulgaria now offers some of the most favorable investment opportunities.