The InvestBulgaria Agency (IBA) has developed a “Starting a business” section on its website, aimed at assisting investors who wish to start a business in Bulgaria. The section provides detailed information on: registrations and permissions; visa, entry and stay; how to set up a company; mergers & acquisitions; ownership of real estate; franchising: http://investbg.government.bg/en/pages/starting-a-business-106.html
The “Running a business” section on IBA’s website provides detailed information on taxation, customs regime, work permits, construction and building permits, industrial and intellectual property, dispute settlement and arbitration: http://investbg.government.bg/en/pages/running-a-business-130.html
General information on the legal framework that applies to business operation in Bulgaria is published on the website of the InvestBulgaria Agency: http://investbg.government.bg/en/pages/legal-framework-107.html
Bulgaria has introduced the most attractive tax regime among EU member states. The corporate tax rate is 10% (0% corporate tax for investments in municipalities with high unemployment) and a flat rate of 10% is applied to the taxable income of all physical persons. We have a 2-year value-added tax exemption for imports of equipment for investment projects over 2.5 million euro, creating at least 20 jobs.
The Ministry of Finance is the Bulgarian institution responsible for the tax policy formulation and implementation: http://www.minfin.bg/en/6
- EU Funds: Bulgaria as an EU Member State is entitled to resources under the EU structural funds that are allocated for projects for the improvement of the competitiveness and innovation potential of the Bulgarian enterprises, for infrastructural projects, for regional development and agriculture, for human resources development and for improving the administrative capacity. All companies registered in Bulgaria can be eligible applicants for projects under the EU funds
- National Strategy for Small and Medium-sized Enterprises 2014-2020 – Small Business Act
- Innovation Strategy for Smart Specialization of the Republic of Bulgaria 2014-2020
- National Innovation Fund
- EUREKA Initiative
- EUROSTARS Programme
- Innovation strategy for smart specialization of the Republic of Bulgaria 2014-2020
- COSME Programme
“National Company Industrial Zones” (http://nciz.bg/en/) is a company under the guidance of the Bulgarian Ministry of Economy, which designs, develops and manages industrial and free zones.
The company assists investors in realizing projects in economic zones with built up infrastructure, first-class locations and transport connections. The company manages 11 industrial zones across the country with a total area of more than 7.4 million square meters.
Six of the projects of the National company have already been operating: in Sofia, Burgas, Vidin, Ruse, Svilengrad and Varna. Five projects are under development – in Kardzhali, Stara Zagora, Karlovo, Telish and Suvorovo.
Why invest in Bulgaria?
Bulgaria has all the key elements needed to make business and investment projects successful:
- We maintain financial and macroeconomic stability
- We have introduced the most attractive tax regime among EU member states. The corporate tax rate is 10% (0% corporate tax for investments in municipalities with high unemployment) and a flat rate of 10% is applied to the taxable income of all physical persons. We have a 2-year value-added tax exemption for imports of equipment for investment projects over 2.5 million euro, creating at least 20 jobs
- We have highly-skilled professionals as well as the lowest operating costs in Europe
- Government incentives under the Investment Promotion Act: shorter administrative procedures, the possibility to purchase land (state or municipally owned) without tender, financial support for staff training and infrastructure construction, partial reimbursement of the obligatory social insurance contributions made by the investor and a package of special measures for priority investment.
- Access to markets: located at a strategic crossroads between the EU, the Middle East and Russia, Bulgaria enjoys unlimited and duty-free access to the EU market and to the markets of all countries benefiting from EU preferential trade regimes and trade agreements with the EU. In order to fully benefit from its advantageous location, Bulgaria has been speedily developing a modern transport and logistics infrastructure that couples with the existing port facilities along the Black Sea coast and the Danube River to make our country an important transit hub in the whole region.
- Key economic sectors: ICT, automotive industry, machine-building, BPO, tourism, agriculture and food industry, chemical and pharmaceutical industry, electronics and electrical engineering, transport and logistics, balneology, medical tourism
InvestBulgaria Agency – IBA (http://www.investbg.government.bg/en) is a government organization, established to attract investment to Bulgaria, to assist project set-up and to ensure successful project development resulting in new jobs, exports and know-how transfer for the Bulgarian economy. IBA helps potential and existing investors explore the investment opportunities in Bulgaria and carry out greenfield investment projects in the country.