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Top 3 Reasons to Consider Bulgaria as Your Next Business Destination

The world has faced unprecedented situation due to the COVID-19 pandemic. The global lockdown has affected the business and world economy significantly. In situation of a massive lockdown and in rapid transition to remote work, it is normal to ask yourself what your next step should be towards your business and which direction to look at?

Today, Bulgaria is being in top list of destinations business leaders decide to expand their business. And here is why.

• Highly skilled, educated & multilingual talent base - Bulgaria offers valuable human power. The country has a talented, flexible, committed and productive workforce with high level of education and received international recognition for its talent.

• Proximity - Bulgaria is strategically located between the West and the East which makes it a perfect destination to run your business. The country can offer an uninterrupted service to their clients with minimal time zone differences. (EET, UTC+2). Furthermore, there are very strong similarities in terms of business ethics, culture and processes which are caused by the continuous collaboration between local specialists and EU/ US companies operating in the country. 

• Economically competitive labor costs - for its favorable taxation: 10% corporate tax, 10% income tax – the lowest in EU, Bulgaria is being defined as a Business heaven in SEE/ EE. The country offers also lower costs for office rents and utilities (Bulgarian cost of electricity for industrial users is 70% of the European average). Sofia ranks 3^rd in cost effectiveness among major EU cities according to FDI Intelligence.

These plus other favorable outsourcing factors such as fast internet speed, information security, privacy regulations and unique lifestyle make Bulgaria as one of the most preferred destinations by foreign investors.

As a leader in the IT industry, operating for 15 years on the Bulgarian market, Proxiad Bulgaria has a proven track of running successfully outsourced business for our clients from different parts of the world. We’ve helped many companies who decided to invest in building R&D and engineering centers in Bulgaria, where human talent and technology meet to deliver IT solutions of first quality. We can do that for your organization too. Click on the link below to learn how:

https://bulgaria.proxiad.com/business-models/