• Parliamentary democracy
• GDP € 19.4 billion (2004)
• GDP growth 5.6 % (2004)
• Average inflation 3.8 % (mid 2005)
• Stable political environment and low country risk
• Consistent record of macroeconomic stability
• Strategic geographic position between Europe and Asia
• Europe’s most competitive work force
• Average monthly gross salary € 145
• Free movement of capital
• No restrictions on after-tax repatriation of profits
• Free trade agreements within a market of over 550 million consumers: EU, EFTA and CEFTA countries, Macedonia, Turkey, Albania and Israel
• Lower operational costs in real estate business
• VAT exemption for imports for investment projects over Euro 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
• Simplepeeded up administrative service
• Infrastructure subsidy investment projects over EUR 50 million
• 52 treaties for avoidance of double taxation
• 49 agreements on mutual protection and promotion of foreign investment

• The climate in Northern Bulgaria is moderate continental, while the climate in Southern Bulgaria is intermediate continental tending to Mediterranean. The climate in the regions with an altitude of 1900-2000 m above sea level is mountainous and along the Black Sea coast it is maritime.
• Bulgaria has between 2200 and 2500 hours of sunlight per year. Average temperature (April - September): + 23 °C. The average yearly temperature is 14.7 °C.
• Beautiful blooming spring, dry and hot summer, long and pleasant autumn, and mild winter with lots of opportunity for skiing.

• BGL Lev. In Bulgaria BGL is fixed to the EURO through the international monetary fund (IMF)

• 2-3 times lower than in the UK
• House Insurance: 100-200 € per year depending on the type of the house, together with the belongings and furniture inside. For a property of price 30,000 € insurance against theft, flood and fire costs about 125 € EURO per year with a reputable insurance company like Allianz
• Gas: the gas system network is not developed yet in Bulgaria. Electricity is mostly used.
• Heating: there are central heating systems in the big cities: monthly costs for a 2-bedroom apartment around 120 € EURO. In the small places people use charcoal and wood, which is even cheaper way to heat a house.
• Electricity: around 30 € per month
• Local and national taxes for owning a property: depending on the place where the property is located, the most expensive area is the capital Sofia, where the annual taxes of 2 bedroom apartment are around 150 € per year, but in the rest of the country annual taxes are about 80 € per year.

There are few annual fees that must be paid every year:

• Road Insurance: 30 € per year
• Road tax (depending on the engine power): around 50 € per year for a car of 2000 ccm. engine.
• MOT: 12 € per year
• Fuel prices: petrol 0.80 €/L, diesel 0.86 €/L and LPG 0.40 €/L There are many petrol stations around the country (Shell, OMV), and many garages providing service for the cars (very cheap though), Annual theft and accident insurance for a brand new car is about 800 to 1000 €

• Bulgarian East Orthodox 83.9%, Turkish 9.4%, Roma 4.7%, other 2% (including Macedonian, Armenian, Tatar, Caucasian) (2001)

• Bulgarian Eastern Orthodox 82.6%, Muslim 12.2%, Roman Catholic 1.7%, Jewish 0.1%, Protestant, Gregorian-Armenian, and other 3.4% (1998)

• Bulgarian, secondary languages closely correspond to ethnic breakdown

• Yes, you can drive it for up to 6 months.

• Yes, you can buy shares or a whole business

• No, you need a work permit. If you register a Limited Liability company, you can operate it and have a permanent residence.

• You need to apply for a work permit.

• Yes, both secondary and higher education is possible. There are plenty of private schools whose teaching language is English..

• Foreign nationals and foreign legal entities may acquire ownership title over buildings and limited ownership rights over property in the Republic of Bulgaria. Ownership is absolute. Foreign individuals can not own land (this is a Constitutional prohibition). However, the Foreign Investment Law removed the restrictions on acquisition of land by locally-registered companies with foreign participation. By setting up or joining a company incorporated under the Bulgarian legislation foreign persons can acquire full land ownership rights including ownership rights on agricultural land.

• Foreign investors are entitled to perform economic activity in the country under the same provisions applicable to Bulgarian investors except where otherwise is provided by law. When international treaties to which Bulgaria is a party provide for more favourable terms and conditions for foreign investment, these terms have precedence over the local rules. Unlimited foreign participation in all forms of business activity registered in Bulgaria is allowed.
• Legal Guarantees against Adverse Changes in the Law - the provisions of the Law that have been effective at the moment of making the investment, should be applied for any foreign investment executed before the changes of the legislation setting up legal normative restrictions for the foreign investment
• Protection Against Expropriation - real estate property owned by a foreign person can be expropriated only on lawful grounds, for especially important purposes of the State that can not be satisfied otherwise.
• Foreign investors are guaranteed full repatriation of profits resulting from an investment in Bulgaria. The transfer abroad can be made only after the bank effecting the transfer is presented a certificate proving payment of all Bulgarian taxes due.

• Yes, without limitations.

• To obtain a permanent residence one must spend 5 years in Bulgaria under the long-term stay conditions and a lawyer can fully assist you in this process. You are also entitled to permanent residence if you register a local company. Setting up a company in Bulgaria is very easy. All you need is a good solicitor or barrister at law.

• There are no duties apart from municipality and notary tax involved with the purchase. The notary fees are paid on the higher of the market price or the book value of the property at varying rates, with the maximum being BGN3,500 (about EUR1,750). In addition, 2% of the market value of the property is paid to the municipality in which the real property is situated upon completion.

• Transactions with land and lease of property for residential purposes are exempt from VAT (Value Added Tax), all other real estate transactions are subject to VAT at the uniform rate of 20%. The buyer/lessee is entitled to a VAT refund, provided that it is registered for VAT purposes.

• There is Capital Gains Tax on the profit when your company sells the property and the standard rate of corporate tax (15% in 2005).

• No other estate duties are payable apart from the already mentioned.

• The owner of a building or a plot is obliged to pay a real property tax. Where a building is built on a State or municipal plot, the value of the plot will also be included in the tax base. The tax is equal to 0.15% of the book value of the property. Arable land is exempt from local taxes. In addition to the real property tax, owners also pay waste-collection fees.

• Stamp duty is paid only with the transfer of title and is the same as notary/municipality fees (see above property duties). Lease contracts are not subject to stamp duty within 3 years

• In BGN leva.

• Crown Developments, part of the Westhill Group. See web site for details.

• Depends on the property details. Rentals may vary anywhere from 300 to 2000 Euro for a property.

• Crown Developments, part of the Westhill Group. See web site for details.

• See the Crown Developments web site details.