Benefits provided by the Investment Promotion act and in particular investing in Bulgaria are fully listed in the IPA.
Here you can check what is the tax rate in Bulgaria and of course what are the requirements of the Investment Promotion act.
Companies whose projects have been certified as ‘class A’ or ‘class B’ investments in Bulgaria may benefit from one or more of the following incentives:
- individual administrative support by an officer of the Bulgarian Agency of Investments;
- shortened terms for completion of administrative procedures;
- acquiring title or other rights in rem without tender;
- financial aid for construction of elements of technical infrastructure;
- financial aid in the amount of up to 25% of the eligible costs for training and professional qualification of employees, including interns from the national universities; The amendments in IRIPA will allow more investors to benefit from this incentive as the minimum number of employees suggested for training is lowered from 50 to 30 employees and the financial aid will be provided not only for specific trainings but also for general training and professional qualification programs. The total amount of the financial aid for training and professional qualification may not exceed EUR 2 million.
- financial aid for compensation of expenses made for health and social security contributions for the employees occupied in the implementation of the investment project (approx. 17.8% of the gross salary of each employee). Under the amendments in IRIPA the financial aid for health and social security contributions will be provided for a period of up to 24 months for projects implemented in the territory of municipalities in which the unemployment rate reported for the last year exceeded the average rate for Bulgaria. For investment projects in other municipalities, this financial aid may be extended for a period of up to 12 months.
Some ‘priority’ investments may be eligible to obtain additional incentives depending on the level of financial investment in tangible and intangible assets.
Innovires professional and experienced team will kindly assist you investing in Bulgaria. We offer a full range of corporate services, including accounting and financial services through our partner.
Do not hesitate to contact us in case you have any additional question.