Open a Company in the Technology Field in Bulgaria
Open a Company in the Technology Field in BulgariaUpdated on Tuesday 18th July 2017
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Bulgaria is slowly establishing itself as one of the major technology hubs in the Balkans. Those who want to open a company in the technology field in Bulgaria have access to a pool of highly skilled workers, whose employment is generally low cost in comparison to other West European countries.
The information and communication technology sector is well-developed and the production quality in Bulgaria is high. The market includes small and large ITC companies alike.
One of our lawyers in Bulgaria can give you complete information on the law for foreign investments and the requirements for the technology field.
The technology sector in Bulgaria
Bulgaria was nicknamed the Silicon Valley of the Eastern Europe, and to this day the country retains its position as a leading technology center in the region, both in the development and the research fields. The hardware, software, and gaming industries are all developed. Computer technology is one of the most developed scientific branches in the country.
The country offers good infrastructure for the ICT sector and comparably lower company formation, employment and company management costs that other countries in the EU. One of our lawyers in Bulgaria can give you further details on employment and the associated costs.
Opening a Bulgarian company
Bulgaria has a good location in Europe and low costs for doing business. The country has no restrictions for foreign investors or for foreign shareholders and the IT sector is not subject to special restrictions. Licensing may be required, according to the company’s specific activities.
All companies in Bulgaria are registered with the Trade Register. The limited liability company is a preferred business form because of its low mandatory share capital and the relaxed annual financial reporting standards. One of our attorneys in Bulgaria can give you further details on these reporting and accounting requirements.
Investors who are interested in knowing more about the conditions for investment can contact the experts at our law firm in Bulgaria.