The outsourcing industry in Bulgaria is one of the most developed and one that holds important potential for foreign investments. According to a report published by the Financial Times, the Global Services Location Index, Bulgaria is located on the ninth place among the countries in the world that are preferred as an outsourcing destination. A number of key elements come together to make the country an ideal location for these types of operations.
Outsourcing in Bulgaria
Bulgaria has a number of important advantages for foreign investors who want to open an outsourcing business
. The country shows a good macroeconomic stability and has advantageous standards for employment: companies that want to hire Bulgarian employees can do so with fewer costs than in most Western European countries.
Another key factor apart from a stable market that holds great potential are the employees: skilled and willing to work in a business sector that allows them to have a better quality of life compared to other employment opportunities. Another important characteristic is that Bulgarian employees
and bilingual and most of them speak fluent English.
Investing in Bulgaria
Bulgarian encourages and supports foreign investments through a series of incentives but also through economic zones dedicated to various business fields. The Trakia Economic Zone
is a special area that consists of six industrial zones around the city of Plovdiv and the surrounding areas. Foreign corporations can open a company here that will benefit from the modern infrastructure. The area has access to funding and support from the Bulgarian government as well as from various EU programmes.
Foreign investors are drawn to Bulgarian by its business-friendly regime, the legislation for foreign investments, lower labor costs compared to other countries and a low corporate tax rate (10%) for companies incorporated in the country.
International companies can open a branch or a subsidiary in Bulgaria. For more information about the options available to foreign investors in Bulgaria please do not hesitate to contact our law firm in Bulgaria