Bulgaria, formally the Republic of Bulgaria, is located in Southeast Europe. In its north located Romania, in west Serbia and North Macedonia, Turkey and Greece to the south, and the Black Sea to the east.
“Sofia” is the capital and largest city along with Burgas, Plovdiv and Varna. Bulgaria has extraordinary Human Development Index ranking 51st in the world in 2018 and holds the 38th position in Newsweek’s rankings of the world’s best countries to live in, measuring health, education, political environment and economic dynamism.
Lev (Bulgarian currency) is one of the strongest currencies around the world compared to US dollar and Euro.
Population of Bulgaria as in first quartile of 2019 was around 7 million. Nearly 85% of the citizens are Bulgarian, with other diversified groups being Turkish 8.8%, Romans 4.9% and about 40 communities totaling 0.7%.
Business in Bulgaria
Bulgaria has various high ranking, including being the 4th fastest growing economy of the European Union. Bulgaria ranked 59 among economies in the ease of doing business, according to the World Bank annual ratings. Bulgaria is an economic attraction for entrepreneurs around the globe and consider it the “Silicon Valley of Europe”.
Bulgaria is an East European country and member of European Union relishes loads of benefits such as political stability, improved trade, better inward investments, and subsidies. Bulgaria offers the lowest personal income tax in Europe. All economic and trading benefits are offered on its EU membership.
One have to follow 5 to 7 steps from registration till the opening of account and obtaining official government stamp to register a business as establishing it in Bulgaria is easier than other European countries. Big MNCs have auspicious businesses in Bulgaria, e.g. Nestle, Oriflame, Unimasters Logistics, GlaxoSmithKline, and Eurofootball Ltd. are few among great names. Willingness of government to promote the entry of foreign investors into Bulgaria, make it more attractive to have business in Eastern Europe.
Lifestyle in Bulgaria is the biggest attraction. Bulgarian people described as outrageously beautiful. The beaches in the summertime, skiing during winter, playing golf, and walking in the mountains are all leisure activities that you can enjoy. Approximately 75% of Bulgarian citizens live in or around urban areas.
In Bulgaria opportunities for education, jobs or business are in abundance. A monthly income of more than 1200 EUR can provide a lavish lifestyle. Surrounding of big cities are famous for real vegetables from the garden – the agriculture is very well developed.
Distances are short as Bulgarians don’t commute a lot. Have convenient and cheap public transport within the city and also numerous bus lines to the country and the sea-side. Cultural low-cost to living compared to the other European countries.
Interesting facts about Bulgaria
- Bulgaria is the only country in Europe that hasn’t changed its name since it was first established. This happened in 681 AD.
- The capital of Bulgaria, Sofia, has a motto which goes as “Raste no ne stare”. In English, it means “grows but does not age”.
- As confusing as it may be, Bulgarians shake their head when they mean to say “yes” and nod when they want to say “no”.
- With more than 700 natural hot water springs, Bulgaria is a spa heaven well-known across Europe as a sizzling tourism spot.
- Mark Zuckerberg, the founder of Facebook, has Bulgarian roots. He was named after his Bulgarian grandfather Marko.
- Every first of March, Bulgarians celebrate a unique holiday known as Baba Marta (Grandmother March). Locals exchange martenitsa or tassels of white and red yarn.
- Bulgaria ranks as the third most bio-diverse Eastern European country. It has over 3,500 vascular plant species and almost 415 bird species.
- The Rose Valley in Bulgaria is famous for its rose-growing industry and it produces 85% of the world’s rose oil.