For three years and counting Bulgaria has successfully complied with all the requirements of being the EU-member. For the past few years the EU-membership, strong economy, favorable conditions for business and changes in tax legislation have helped attract foreign investments and enhance economic growth.
Investment Encouragement Act and its regulations, together with the establishment of Foreign Investment Agency, made Bulgaria a more attractive place for foreign capital investments.
Some Competitive Advantages:
Tax exemption for 5 years on investments exceeding BGN 10 Million per year in the fields of agriculture, high technology, and infrastructure;
• Low rates for corporate tax – 10%;
• 5 % dividend tax;
• Relatively low-cost entry to the EU market (Bulgaria is the EU member since 2007);
• The lowest operating costs in the EU
VAT exemption for 2 years for imports of equipment for investment projects exceeding 5 Mio Euro and opening at least 50 working places
• Decreased Social security payments; the Bulgarian state is involved in the Social Security system as a third party in proportion -8:10:12
• Favorable conditions for foreign investors according to the Investment Encouragement Act
• Low labour costs
• Flexible taxation system for waste collection providing “fair charge”
• Use of taxation tools for attracting new investments, such as corporate-tax-free periods, additional benefits for accelerated amortization rates, etc.
We would like to outline some competitive advantages that distinguish our project from similar ones:
• Competitive labor costs in the region in comparison to other regions of the country and the remaining EU members.
• Access to full high-quality infrastructure, generally missing in similar projects
• Full support and wide range of services to the potential investors during the construction and the following operational periods.
• Perfect location, meeting the requirements of industrial and commercial sectors. Industrial Park Shumen is located next to a railway and the Sofia-Varna highway (in construction). It is also close to Varna Sea Port and Airport.
• Competitive selling prices
• In contrast to other similar projects Industrial Park Shumen is situated within city limits (regional centre). Eliminating possible problems with recruiting qualified personnel.
• Experience in development of investment projects
• Privileged administrative services to all our investors, provided by the Municipality of Shumen