Bulgaria for Digital Nomads – Why is it a great choice?
Bulgaria for digital nomads has become an increasingly popular topic in recent years, thanks to the country’s affordability, business-friendly environment, and excellent quality of life. Situated in Southeast Europe, Bulgaria offers modern infrastructure, low taxes, and a welcoming community for remote workers and entrepreneurs. Here’s why you should consider making Bulgaria your next base:
Cost of Living and Quality of Life
Bulgaria boasts one of the lowest costs of living in Europe. Whether you choose the vibrant capital Sofia, the historic city of Plovdiv, or the scenic Black Sea coast in Varna, you’ll enjoy affordable housing, delicious food, and access to stunning natural landscapes. From hiking in the Rila Mountains to soaking in the cultural richness of ancient cities, Bulgaria offers plenty of experiences for digital nomads.
High-Speed Internet and Connectivity
Reliable high-speed internet is essential for remote work, and Bulgaria delivers. The country’s internet infrastructure is among the best in Europe, making it easy to work efficiently from coworking spaces, cafes, or even your apartment. Many cities also have active communities of digital nomads and freelancers, providing opportunities for networking and collaboration.
Membership in the EU and Schengen Area
As a member of the European Union (EU), Bulgaria provides seamless travel and business opportunities across other EU countries. While not yet a full member of the Schengen Area, Bulgaria is set to join soon, making travel even more convenient for residents.
Tax Residency in Bulgaria
One of the main reasons digital nomads choose Bulgaria is its attractive tax system. The country offers a flat personal income tax rate of just 10%, one of the lowest in Europe. Corporate tax is also set at a flat rate of 10%, making it an appealing option for entrepreneurs and small business owners.
Becoming a Tax Resident
To establish tax residency in Bulgaria, you must spend more than 183 days in the country within a calendar year or demonstrate that your center of vital interests is located in Bulgaria. Once you’re a tax resident, you can take advantage of Bulgaria’s double taxation treaties with numerous countries, ensuring your income is not taxed twice.
Freelancer Registration and Company Formation
Freelancers can register as self-employed individuals in Bulgaria, enabling them to invoice clients legally and access the country’s tax benefits. The process involves registration with the Bulgarian Trade Register and the National Revenue Agency.
For digital nomads planning to scale their businesses, forming a company in Bulgaria is an excellent option. A limited liability company (OOD) can be established with a minimum share capital of just 2 BGN (approximately 1 EUR). The country’s streamlined company registration process and low corporate tax make it particularly attractive for startups and growing businesses.
Residency Options for Digital Nomads
Bulgaria offers several residency options tailored to the needs of digital nomads and freelancers:
Residency for EU Citizens
EU citizens can reside and work in Bulgaria without needing a visa. If staying longer than 90 days, you simply need to register with the local authorities.
Residency via Startup Visa
Bulgaria’s startup visa program is designed to attract entrepreneurs who wish to launch innovative businesses in the country. This visa provides a straightforward pathway to residency while supporting your entrepreneurial ambitions.
Residency via Registration of Trade Representative Office
Non-EU citizens can obtain residency by setting up a trade representative office for a foreign company. This option is ideal for digital nomads who have an established business abroad but wish to base themselves in Bulgaria.
Residency via EU Blue Card
Highly skilled professionals can apply for the EU Blue Card, which grants residency and work rights in Bulgaria. This option is suitable for digital nomads with specialized expertise seeking to work for a Bulgarian company or start their own.
Bulgaria for Digital Nomads: Legal and Accounting Services
Navigating the legal and administrative processes in a foreign country can be complex, but we’re here to make it easy. Our team offers comprehensive services tailored to digital nomads and freelancers, including:
- Tax residency consultations
- Freelancer and company registration
- VAT registration and compliance
- Assistance with residency applications and visas
Whether you’re starting fresh as a freelancer or relocating an existing business, our expertise in Bulgarian tax laws and business regulations ensures a smooth transition.
Contact us today to learn how we can support your journey to Bulgaria for digital nomads. With our help, you can focus on growing your business and enjoying all that Bulgaria has to offer!