About Bulgaria
Why to invest in Bulgaria?
Highly-skilled, multilingual workforce at Europe's most competitive wages
Stable and predictable business and political environment
EU membership
Free trade with the EU preferential trade partners, including EFTA, Turkey, Mediterranean countries[1], Western Balkan countries[2], South Africa, Mexico, Chili, etc.
10% corporate income tax rate
VAT exemption on equipment imports for investment projects over EUR 5 million
Annual depreciation rate of 30% for machinery & equipment, 50% for new equipment used in new investments or expansion projects and 50% for software and hardware
Treaties for avoidance of double taxation with 61 countries
Agreements on mutual protection and promotion of foreign investment with 60 countries
Acquisition of land and property through a Bulgarian registered company with up to 100% foreign ownership
Fast administrative services through InvestBulgaria Agency
Excellent climate, natural scenery, food and hospitality
[1] Euro-Mediterranean association agreements with Algeria, Tunisia, Morocco, Israel, West Bank and the Gaza Strip, Jordan, Lebanon, Syria
[2] Trade preferences to products originating from Albania, Bosnia and Herzegovina, Croatia, Kosovo, Macedonia, Montenegro and Serbia until 31 Dec. 2010 in accordance with the stabilization and association
Basic Country Data
Area: 110,910 sq. km. / 42,822 square miles
Population (end 2005): 7 718 550 ( 3 743 327 - males / 3 975 423 - females )
Real GDP growth rate: 6.1% (2006)
Economy (GVA, 2006): 60% services, 32.4% industry and 8.6% agriculture
University degrees: 15% of population
Native language: Bulgarian
Foreign languages: English, German, French, Spanish, Russian
Religion: 83% Eastern Orthodox
Government: Parliamentary democracy
Currency: BGN pegged to EUR at 1.95583:1
Affiliations: EU, NATO, WTO
Location
Bulgaria is situated in the South-Eastern part of the Balkan Peninsula. The country's population is 7.7 million people and its territory spans 110,912 sq.km. Bulgaria borders Greece and Turkey to the South, Macedonia and Serbia - to the West. The Danube River to the North is our natural border with Romania; the Black Sea is situated to the East.
Bulgaria is in the center of a region, which is undergoing dynamic transition. Within 500 km of our capital city, Sofia (1.4 million people), a population of over 90 million lives in 9 countries that have recently embarked on their way to a market economy. This is a large market with a rapidly increasing purchasing power.
A network of international motorways crosses the country, making vital connections to the countries of Western Europe, Russia, Minor Asia, the Adriatic, the Aegean and the Black Sea. Both sea and river transport (the Black Sea and the Danube River) facilitate the trade with the region
Government
Bulgaria is a parliamentary republic and conforms with the Constitution of the Republic passed by the Grand National Assembly in July 1991. The Constitution of the Republic of Bulgaria is the supreme law of the country and no other law may contravene it. All international treaties, which are ratified pursuant to the constitutional procedure, are considered part of the domestic legislation.
The National Assembly is a one-chamber parliament. It consists of 240 Members of Parliament who are directly elected every four years. The National Assembly is a permanent acting body, directed by a board of Chairmen including a Chairman of the National Assembly.
The head of the state is the President, who embodies the unity of the nation and represents the Republic of Bulgaria in its international relations.
The Council of Ministers is the executive state body and directs the domestic and foreign policy of the country. The government manages the implementation of the state budget, organizes the management of state property and approves or rescinds certain categories of international treaties pointed out in the Constitution.
Under the democratic process, there has been a smooth transfer of power, strengthening of state institutions and a consensus amongst all political parties towards promoting the market economy and respecting human rights.
Regional information
The territory of the Republic of Bulgaria is divided into 278 municipalities and 28 regions. Municipalities are legal entities and have the right of ownership and independent municipal budgets. Mayors of the municipalities and municipal councils are elected through direct local elections at every 4 years, following the law regulations. The municipal council is the local government authority, which determines the development policy of the municipality. The municipal council consists of the directly elected municipal councilors. The executive power body in the municipality is the mayor of the municipality.
The regions are administrative-territorial units executing the regional policy of the central government. The regional government is performed by regional governors and regional administration staff on municipality budget expenses. The regional governor is a monocracy body of the executive power in the region, performing the state government in the region and providing compliance of national and local interests in executing the regional policy. The regional governor is appointed by the Council of Ministers.
History
The history of Bulgaria goes back more than 3,000 years.
A succession of various civilizations, Thracian, Roman, and Byzantine, the Bulgarian state has existed for 13 centuries now on the Balkan Peninsula, which has long been a meeting place and a melting-pot of tribes and nations. The Bulgarian state was founded in 681 AD, when Slavs and Proto-Bulgarians were brought together under the scepter of the Khan.
The conversion of the Bulgarians to Christianity in 865 AD joined Bulgaria to the Christian civilization. The invention of the Cyrillic script in the latter half of the ninth century, during an age when previously only Latin and Greek had been used to write, gave a powerful impetus to the country's cultural development.
In 1185, after a lot of fights with Byzantines, the noble brothers Asen and Peter led a revolt that forced Byzantine recognition of an autonomous Bulgarian state. The Second Bulgarian Empire was centered in today's town of Veliko Turnovo. In 1202 Tsar Kaloian (1197-1207) concluded a final peace agreement with Byzantium that gave Bulgaria full independence, which contributed to the flourish of the Bulgarian culture. After the death of Ivan Asen II, political instability threatened the Bulgarians.
Unfortunately in 1396 Bulgaria fall down on Turkish slave which occupation continued nearly 500 years.
The preparation for the national liberation began in the early '60s under the guidance of Georgi Sava Rakovski (1821 - 1867) and Vassil Levski (1837 - 1873). The War of Liberation (the Russian-Turkish War) regained Bulgaria's freedom in 1878. In 1879 the Constituent Assembly adopted the first constitution of Bulgaria, which was one of the most democratic constitutions of the day.
The first decades of the 20th century were years of economic effort and prosperity. Bulgarian goods and Bulgarian currency, the 'Golden Lev', acquired a high value on the European markets. Trade relations with Austria, Germany, France and Great Britain strengthened