General Information

There are many business and investment opportunities in Bulgaria, a country where taxation is very favorable for businesses and individuals (IT and IR rate of 10%). There are no longer any constraints in terms of exchange regulations and dividends can be repatriated without restriction.

Means of Payment & Banking Specificities

Cash payment by SWIFT transfer before shipment is strongly recommended. Bank checks or checks issued by companies should be avoided. They are in any case not used in Bulgaria except by foreign banks which issue checks in foreign currencies payable outside Bulgaria. In the case of large contracts, the arrangement of a Cofacé credit (to the extent of available government funding) or possibly an irrevocable and confirmed documentary credit must be considered. Confirmation of credits on Bulgaria is possible depending on the consideration and the duration of the commitment. A large majority of operations in Bulgaria are still processed by payment in advance, as recommended above.