General

• General Information
• Bulgarian Prices

Political and economic data

Territory – 110,994 sq km

Population – 7.7 million

GDP, 2007 (F) – $ 27.19 billion

Political system: parliamentary republic

Stable political environment & low country risk

- NATO entry (May 2004); EU entry (2007)
Following the EU accession, Bulgaria adopted various liberal investment laws and regulations, improvements in the bank mortgage system.

Consistent record of macroeconomic stability

- 2007 (F) real GDP growth of 7.2 %


Strategic geographic position as a bridge between Europe and Asia

Highly skilled English speaking work force

Building sector growth for 2007 - 15%

Europe’s most competitive wage levels

The real estate business had a turnover of 11.36 billion euro in 2007 with a total of 292 000 deals
Annual rental yields 5,87%. A major achievement was the abolition on terms of leases beyond 10 years. This is a great stimulus fr international developers.


Free movement of capital
No restrictions on after-tax repatriation of profits
Free trade opportunities within a market of over 550 million consumers

- EU, EFTA and CEFTA countries, Macedonia, Turkey, Albania, Estonia, Lithuania, Latvia and Israel

Lower operational costs for real estate and water supply compared to other CEE countries

The road infrastructure of Bulgaria comprises of more than 37,000 km roads, 416 km of which are highways.

There are 6,400 km of developed railways, more than 65% of which are electrified.

The main Bulgarian sea ports are Bourgas and Varna.

The Danube River is the international water road of the country.

There are 5 international airports in Bulgaria: Sofia, Varna, Bourgas, Plovdiv and Gorna Oriahovitsa (the latter is used mainly as a cargo airport).


Major investment incentives


Corporate tax rate – 10%

VAT exemption for imports for investment projects over € 5 million

Annual depreciation rate of 30% for machinery & equipment & 50% for software and hardware

Substantial asset discount prior to the EU membership compared to the rest of Europe

Opportunity to buy land through a company registered in Bulgaria with up to 100% foreign ownership

Adoption of International Accounting Standards

52 treaties for avoidance of double taxation

49 agreements on mutual protection and promotion of foreign investment

Climate

The average annual temperature is 10°C.
The average air temperature in the summer is 30°C.
The average water temperature is 25°C.


Voltage

220 V only


Transport

Air transport
Two-way daily flights from Sofia to Varna and Bourgas. During the summer season more daily flights are available.

RainTrain
The rail network connects most of the cities and villages with a cheap cost.

Roads
“Hemus” highway links Sofia with Varna and highway “Trakia” - Sofia with Plovdiv and Bourgas. You can travel by private bus or taxi.

Rent-a-car
There are many international rent-a-car company that are available to most of the towns. For more informations you can contact with a travel agency.

WORKING HOURS

Offices are open from Monday to Friday from 9.00 a.m. to 5.00 p.m.
Banks are open from Monday to Friday from 9.00 a.m. to 3.00 p.m.
Shops are open from Monday to Friday from 10.00 a.m. to 8.00 pm.
and on Saturday until noon.