{"id":785,"date":"2020-10-21T10:45:12","date_gmt":"2020-10-21T10:45:12","guid":{"rendered":"http:\/\/bulgariarelocation.com\/?p=785"},"modified":"2021-01-15T06:14:10","modified_gmt":"2021-01-15T06:14:10","slug":"startup-in-bulgaria","status":"publish","type":"post","link":"https:\/\/bulgariarelocation.com\/uk\/startup-in-bulgaria\/","title":{"rendered":"Startup in Bulgaria"},"content":{"rendered":"<p>Did you know that according to Forbes among the top 10 cities around the world to launch your startup business is Sofia, Bulgaria?<\/p><div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewbox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewbox=\"0 0 24 24\" version=\"1.2\" baseprofile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/bulgariarelocation.com\/uk\/startup-in-bulgaria\/#Fact_1_%E2%80%94_Corporate_tax\" >Fact 1 \u2014 Corporate tax<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/bulgariarelocation.com\/uk\/startup-in-bulgaria\/#Fact_2_%E2%80%94_Personal_income_tax\" >Fact 2 \u2014 Personal income tax<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/bulgariarelocation.com\/uk\/startup-in-bulgaria\/#Fact_3_%E2%80%94_Business_costs\" >Fact 3 \u2014 Business costs<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/bulgariarelocation.com\/uk\/startup-in-bulgaria\/#Fact_4_%E2%80%94_Labour_Force\" >Fact 4 \u2014 Labour Force<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/bulgariarelocation.com\/uk\/startup-in-bulgaria\/#Fact_5_%E2%80%94_Wages_and_social_security_contributions\" >Fact 5 \u2014 Wages and social security contributions<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/bulgariarelocation.com\/uk\/startup-in-bulgaria\/#Fact_6_%E2%80%94_Outsourcing\" >Fact 6 \u2014 Outsourcing<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/bulgariarelocation.com\/uk\/startup-in-bulgaria\/#Fact_7_%E2%80%94_Less_financial_risk\" >Fact 7 \u2014 Less financial risk<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/bulgariarelocation.com\/uk\/startup-in-bulgaria\/#Fact_8_%E2%80%94_Company_incorporation\" >Fact 8 \u2014 Company incorporation<\/a><\/li><\/ul><\/nav><\/div>\n\n<p>Behind the blare of Berlin, Beijing, Moscow, and London, the Bulgarian start-up scene is set to become a center for seed investment and startups in southeast Europe. It is due to the fast speed internet and low taxes.<\/p>\n<p>A total of 32 Bulgarian companies compete in the FINALS of the Central European Startup Awards (CESAwards 2017), which aims to distinguish the best businesses in the region. The competition deadline for voting for local winners among the finalists announced on the CESAwards website expired on August 23. At the local level, the initiative is led by the Association of Bulgarian Leaders and Entrepreneurs (ABLE).<\/p>\n<p>On the other hand, Bulgaria is considered as one of the most favorable countries in Europe for investment opportunities and investment projects. Here are some interesting facts that might make every investor choose Bulgaria to invest:<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Fact_1_%E2%80%94_Corporate_tax\"><\/span>Fact 1 \u2014 Corporate tax<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Bulgaria has one of the lowest corporate tax rates in the EU, namely 10%. Bulgaria also signed nearly 70 double tax treaties.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Fact_2_%E2%80%94_Personal_income_tax\"><\/span>Fact 2 \u2014 Personal income tax<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Bulgaria has the LOWEST personal income tax rate in the EU, i.e. 10%, and a dividend tax of only 5%.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Fact_3_%E2%80%94_Business_costs\"><\/span>Fact 3 \u2014 Business costs<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The initial business costs are one of the lowest in the EU.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Fact_4_%E2%80%94_Labour_Force\"><\/span>Fact 4 \u2014 Labour Force<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Bulgaria has a highly-qualified, well-motivated, flexible, and multilingual labour force.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Fact_5_%E2%80%94_Wages_and_social_security_contributions\"><\/span>Fact 5 \u2014 Wages and social security contributions<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The wages in Bulgaria are among the lowest in Europe. The minimum salary is also the lowest in the EU. Furthermore, the social security contributions on salaries are very low.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Fact_6_%E2%80%94_Outsourcing\"><\/span>Fact 6 \u2014 Outsourcing<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Bulgaria is the best destination in Europe to develop outsourcing activities. In fact, almost every big IT company has a Bulgarian branch.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Fact_7_%E2%80%94_Less_financial_risk\"><\/span>Fact 7 \u2014 Less financial risk<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The Bulgarian lev (BGN) is fixed to the EUR (1 EUR = 1.9558 BGN). Banking is possible in euros. Every bank in Bulgaria provides English E-banking.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Fact_8_%E2%80%94_Company_incorporation\"><\/span>Fact 8 \u2014 Company incorporation<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>It takes only one day to register a new company. The minimum start-up capital is only 1 EUR and you will be provided with your VAT-number several working days later. In general, there are fewer restrictions and administrative procedures than for instance in Western Europe.<\/p>\n<p>Innovires legal can assist you with:<\/p>\n<ul>\n<li>Application for a corporate name<\/li>\n<li>Preparation of company documents and company incorporation in Bulgaria<\/li>\n<li>Application for EU VAT number<\/li>\n<li>Translation of company documents<\/li>\n<li>Business accounts in a Bulgarian bank including internet banking services<\/li>\n<li>General Power of Attorney with certified translation and apostil<\/li>\n<li>Company address \u2013 domicile \u2013 in Sofia, Bulgaria<\/li>\n<li>Secretarial services<\/li>\n<li>Accounting, current VAT registration, declaring annual financial statements<\/li>\n<li>Company stamp<\/li>\n<\/ul>\n<pre>This article was curated from <a href=\"https:\/\/innovires.com\/startup-in-bulgaria\/\" target=\"_blank\" rel=\"noopener noreferrer\">Innovires<\/a>\r\nFeatured Image Credit: Photo by <a href=\"https:\/\/unsplash.com\/@silviya_radkova?utm_source=unsplash&amp;utm_medium=referral&amp;utm_content=creditCopyText\" target=\"_blank\" rel=\"noopener\">Silviya Radkova<\/a> on <a href=\"https:\/\/unsplash.com\/s\/photos\/sofia%2C-bulgaria?utm_source=unsplash&amp;utm_medium=referral&amp;utm_content=creditCopyText\" target=\"_blank\" rel=\"noopener\">Unsplash<\/a><\/pre>","protected":false},"excerpt":{"rendered":"<p>Did you know that according to Forbes among the top 10 cities around the world to launch your startup business is Sofia, Bulgaria? Behind the blare of Berlin, Beijing, Moscow, and London, the Bulgarian start-up scene is set to become a center for seed investment and startups in southeast Europe. It is due to the&#8230;<\/p>","protected":false},"author":1,"featured_media":209,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_kad_post_transparent":"default","_kad_post_title":"default","_kad_post_layout":"default","_kad_post_sidebar_id":"","_kad_post_content_style":"default","_kad_post_vertical_padding":"default","_kad_post_feature":"","_kad_post_feature_position":"","_kad_post_header":false,"_kad_post_footer":false,"_kad_post_classname":"","footnotes":""},"categories":[13],"tags":[16,31],"location":[],"class_list":["post-785","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-do-business-in-bulgaria","tag-curated","tag-startup"],"_links":{"self":[{"href":"https:\/\/bulgariarelocation.com\/uk\/wp-json\/wp\/v2\/posts\/785","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bulgariarelocation.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bulgariarelocation.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bulgariarelocation.com\/uk\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bulgariarelocation.com\/uk\/wp-json\/wp\/v2\/comments?post=785"}],"version-history":[{"count":0,"href":"https:\/\/bulgariarelocation.com\/uk\/wp-json\/wp\/v2\/posts\/785\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bulgariarelocation.com\/uk\/wp-json\/wp\/v2\/media\/209"}],"wp:attachment":[{"href":"https:\/\/bulgariarelocation.com\/uk\/wp-json\/wp\/v2\/media?parent=785"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bulgariarelocation.com\/uk\/wp-json\/wp\/v2\/categories?post=785"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bulgariarelocation.com\/uk\/wp-json\/wp\/v2\/tags?post=785"},{"taxonomy":"location","embeddable":true,"href":"https:\/\/bulgariarelocation.com\/uk\/wp-json\/wp\/v2\/location?post=785"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}