If you are reading this article you are most likely interested in moving to Bulgaria ; maybe someone will be imagining moving their business to this country, while someone else will be considering moving to Bulgaria to enjoy their retirement more peacefully. We imagine you doing research on Google, with a thousand questions in mind. Truths and false myths about Bulgaria

Well in this article we do not have the presumption to answer all these questions but, at least, to the most common one by those who know little about this nation. We will do this following the usual TRUE / FALSE pattern

  • Bulgaria is cold. FALSE. Bulgaria can be understood as a cold country to the same extent that we could make the same assumption for some regions of Northern Italy such as Trentino Alto Adige or Piedmont. The reality, however, is more complicated and, for example, tells us that in the summer months and in the mid-seasons the seaside resorts of Bulgaria overlooking the Black Sea can offer a mild climate equal to that which you would find on the pleasant Tuscan hills.
  • The tax burden in Bulgaria is low TRUE. Indeed very true. Bulgaria currently, in the ranking of EU countries, is the one that offers the most advantageous tax system ever. In fact, having long since abandoned progressive taxes, in Bulgaria there is a single rate of 10% for both individuals and legal entities. You read that right. If you become a Bulgarian citizen, you will have to leave "only" 10% of what you earn to the state in taxes every year, regardless of the size of your personal income or the turnover of your company.
  • It is possible to enjoy the tax advantages of Bulgaria by staying in Italy. FALSE. Beyond what some active social media hacks may say, NO, it is not possible to take advantage of the Bulgarian tax benefits while remaining resident in Italy; indeed, you could even face double taxation. To take advantage of the tax benefits, you must take up residence in Bulgaria.
  • It is easy to take up Bulgarian residency. TRUE. There are no stringent criteria for those citizens from abroad who want to take up Bulgarian residence. At the time of the request, this is processed quickly.
  • Once I have obtained the Bulgarian residence I can also return to Italy. FALSE. In order for Bulgarian residence to be maintained and the resulting tax benefits with it, it is necessary to stay in Bulgaria for at least 6 months a year.
  • Opening a company in Bulgaria is child's play. FALSE. Or at least not entirely true. Bureaucracy in Bulgaria is much simplified compared to the Italian reality; however, in order for the establishment of your company in Bulgaria to be successful it is In our opinion, it is necessary to be followed by specialized agencies such as VR and Partners to avoid the typical mistakes of those who are not experts and to speed up the required practices.
  • Transport in Bulgaria is obsolete. FALSE. If you intend to open a factory in Bulgaria you can be sure that your goods will have the possibility to move quickly both towards Italy (through the North-East passage on land, or via the Adriatic Sea) and towards all the main destinations in Europe and the Middle East.
  • In Bulgaria they know how to have fun. TRUE. One of the characteristics of Bulgarian entertainment is that it covers all 24 hours of the day. Discos, beaches, bars, restaurants and night clubs. From when you open your eyes in the morning until you go to sleep late in the day, rest assured that (especially in the main centers of the country) you will always find an open place with people inside where you can spend pleasant hours and in company.
  • The cost of labor in Bulgaria is low. TRUE. The average gross cost of a worker in Bulgaria is around 8,000 euros per year, or one third of what you would spend in Italy.
  • Language is one of the main problems for anyone moving to Bulgaria. TRUE. Precisely for this and also for this reason, do-it-yourself is not recommended for those who intend to move here. Contracts, business proposals, paperwork can become hell if you don't know the language. This is why it is good to rely on companies such as VR and Partners which, by providing of Italian and Bulgarian staff on site, can follow you in the delicate phases of your transfer not only as mere translators but also as legal and business consultants.
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