Bulgaria

Recognized as one of Eastern Europe’s most promising nations, Bulgaria boasts a blend of rich cultural heritage and a forward-looking economic vision. Historically, the nation has been a cradle of civilization, with ancient cities, artifacts, and sites testifying to its role in Europe’s tapestry. Today, Bulgaria stands as a testament to resilience, progress, and the promise of a brighter future, making it an attractive locale for businesses, tourists, and investors alike.

Bulgaria: A New Dawn for Expatriates

For many, Bulgaria remains an undiscovered gem in Eastern Europe. Yet, for those in the know, it presents a haven of opportunities. Whether one is looking to advance their career in a growing economy, launch a new business venture in a supportive environment, or retire amidst serene landscapes and vibrant cultural scenes, Bulgaria offers it all. With its relatively low cost of living, improving infrastructure, and a strategic location within Europe, it’s not surprising that Bulgaria is quickly becoming a favorite destination for expats. From the picturesque Black Sea coast to the bustling streets of Sofia, the country promises a blend of modernity and tradition, making it an ideal place for work, entrepreneurship, and retirement.

Living in Bulgaria

Cost of living

Living in Bulgaria comes with the advantage of a relatively low cost of living. While the capital, Sofia, is understandably pricier than smaller towns and villages, it remains affordable compared to other European capitals. Outside of Sofia, the cost drops significantly, especially in rural areas. Utilities, groceries, and dining out are notably inexpensive. The affordable lifestyle does not translate to a compromise on quality; Bulgaria offers modern amenities and services at a fraction of the price found in western countries.

Quality of education

Bulgaria’s education system has been undergoing reforms and improvements. The nation is home to prestigious institutions such as Sofia University and the Technical University of Sofia. These universities are recognized both nationally and internationally for their academic excellence. Many students from across the globe come to Bulgaria, attracted by its quality education and affordable tuition fees.

Health care and insurance

The healthcare system in Bulgaria is a mix of public and private providers. While the public health system is accessible and affordable, many expats and wealthier Bulgarians prefer private clinics for specialized treatments. Health insurance is mandatory for all citizens and long-term residents. Non-citizens can avail themselves of health insurance policies tailored for foreigners, providing comprehensive coverage at reasonable rates.

Climate

Bulgaria experiences a continental climate, with distinct seasons. Summers are warm, with temperatures reaching up to 30°C, while winters can be chilly, especially in the mountainous regions. Spring and autumn are mild and are considered the most pleasant times of the year.

Fun and entertainment

Bulgaria is an exciting destination for young expats. The country boasts a vibrant nightlife, especially in cities like Sofia and Varna. For sports enthusiasts, the country offers skiing in the winter and water sports along the Black Sea coast during the summer.

Best places to live in Bulgaria

While Sofia remains the primary attraction for business-oriented individuals, cities like Plovdiv and Varna are becoming increasingly popular for their blend of historical charm and modern amenities. For families, smaller towns offer a peaceful environment, and for retirees, the Black Sea coast is a paradise.

Sofia (1.2 million)

As the capital of Bulgaria, Sofia seamlessly blends its ancient heritage with modernity. Nestled at the foot of Mount Vitosha, this city is not only the political and economic hub of the country but also boasts a vibrant cultural scene. From historic churches and archaeological wonders to contemporary art galleries, Sofia offers a diverse range of experiences. The city also offers a dynamic nightlife, diverse culinary experiences, and is home to many multinational companies, offering numerous employment opportunities.

Plovdiv (700,000)

Plovdiv, one of the world’s oldest cities, exudes an ancient charm while keeping pace with modern developments. Its Roman amphitheater, cobblestoned streets, and beautifully preserved old town are testament to its rich past. The city is also known for its arts festivals, including the renowned Plovdiv International Fair. With its pleasant climate, burgeoning IT sector, and relatively low cost of living, Plovdiv is fast becoming a favored destination for both local and expat residents.

Varna (470,000)

Located on the Black Sea coast, Varna is the maritime capital of Bulgaria. It offers a unique blend of beach life and urban sophistication. Known for its vibrant summer festivals, archaeological museum, and the beautiful Sea Garden, Varna is a top choice for those seeking a coastal city living. The presence of universities and colleges also makes it a youthful city with an active nightlife.

Burgas (330,000)

Another gem on the Black Sea coast, Burgas is recognized for its scenic beauty, comprising beautiful beaches, parks, and lakes. It’s a pivotal economic center with a major port and is renowned for its summer music festivals. The city is also in proximity to some of the popular seaside resorts, making it an ideal base for those who love the sea but want to stay close to urban amenities.

Ruse (149,642)

Ruse, located on the banks of the Danube River, is famed for its neoclassical architecture and proximity to Romania. Its economic significance and cultural attractions make it a sought-after location.

Is Bulgaria safe?

Bulgaria maintains a relatively low crime rate, especially when compared to western European countries. While petty crimes like pickpocketing can occur in tourist areas, violent crimes are rare. Exercising basic precautions, like in any other country, ensures a safe and enjoyable stay.

Moving to Bulgaria

How to move to Bulgaria as an expat

VISA

For non-EU/EEA nationals, a long-term visa (Type D) is required to stay in Bulgaria for more than 90 days. This visa can be obtained for various purposes, including work, studies, or family reunification. Once in Bulgaria, the visa can be converted into a long-term residence permit.

Citizenship By Investment (Golden Visa)

As of 2021, Bulgaria offers a Citizenship By Investment program, often referred to as the ‘Golden Visa’. By making a significant investment in the country, individuals can obtain Bulgarian citizenship, granting them access to the EU.

Residency By Investment

Bulgaria also offers a Residency By Investment program. By making a specified investment, non-EU/EEA nationals can obtain a long-term residence permit, which can be a pathway to citizenship in the future.

Real estate

Bulgaria’s real estate market has seen steady growth over the years. With a surge in foreign investments and the country’s strategic position in Europe, property values, especially in major cities like Sofia, have been on the rise. However, it remains affordable compared to other European countries. On average, an apartment in Sofia’s city center may cost around 1,500 BGN per square meter, while a villa in rural areas can be much cheaper. With the country’s growing popularity as a tourist destination, many also see potential in vacation rentals along the Black Sea coast.

Why should I move to Bulgaria?

With its captivating blend of historic charm and modern infrastructure, Bulgaria offers a unique combination of affordability, quality of life, and a strategic location in Europe. The country not only prides itself on its rich cultural heritage but also stands as a beacon of resilience and growth in Eastern Europe. Whether you’re seeking professional opportunities, a change of scenery, or a serene retirement haven, Bulgaria offers an enviable lifestyle that caters to a multitude of desires.

Doing business in Bulgaria

Economy

Bulgaria boasts a steadily growing economy with a diverse industrial base. Key sectors include agriculture, manufacturing, mining, and services, with IT and tourism emerging as significant growth areas in recent years. As a member of the European Union, Bulgaria benefits from integrated trade relations, making it an attractive hub for foreign investments. Moreover, its strategic location at the crossroads of Europe and Asia has positioned it as a logistical and transportation center in the region.

Tax in Bulgaria

Bulgaria offers one of the most competitive taxation systems in Europe. With a flat tax rate of 10%, both for individuals and corporations, the country presents a favorable fiscal environment for businesses and employees. The Value Added Tax (VAT) is set at 20%. The tax regime’s simplicity and the government’s efforts to streamline the tax collection process make it attractive for investors and entrepreneurs.

Startups

Bulgaria is progressively emerging as a hub for startups in Eastern Europe. The government and private institutions have been actively supporting the startup ecosystem by offering various accelerator programs, funding opportunities, and mentoring sessions. Sofia, the capital, is home to numerous co-working spaces and tech events, fostering innovation and collaboration among entrepreneurs. The low operational costs and talented workforce further contribute to Bulgaria’s growing reputation in the startup domain.

Company formation in Bulgaria

Bulgaria offers a streamlined process for company incorporation, making it relatively easy for expatriates to set up a business. The most common type of business entity is the Limited Liability Company (OOD). The country’s open-market policies, coupled with its membership in the European Union, provide businesses with access to a broad market. Additionally, the relatively low overhead costs, competitive tax rates, and a skilled workforce make Bulgaria an attractive destination for entrepreneurs and investors.