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Choosing the right destination for establishing your freelance activity is undeniably important. As a well-located country, Bulgaria offers access to global markets, affordable living costs, and a rich culture. With its beneficial tax system, strategic location, and thriving digital nomad community, Bulgaria is an ideal choice for digital nomads aiming to relocate their horizons within new destinations.
Why choose Bulgaria?
With its strategic position within the EU as an outside border, Bulgaria presents an exciting opportunity for digital nomads looking to establish themselves in a developing new market. Bulgaria is trying to become an economic leader in the Balkans and is constantly improving. The country’s favorable tax system and growing economy make it an appealing destination for freelancers who want to try different cultures and new ways of living. Here are some compelling reasons to consider registering as a freelancer in Bulgaria:
Taxes and Legally Recognised Expenses for Freelancers
One of the most significant advantages of registering as a freelancer in Bulgaria is that you can benefit from one of the lowest personal income tax rates in the European Union at just 10%. This flat rate ensures substantial savings compared to higher tax rates in other EU countries.
Additionally, in Bulgaria, freelancers and self-employed individuals can deduct a standard percentage of their income as legally recognized expenses. This percentage is typically set at 25% of their gross income. This means that 25% of the income earned by freelancers is automatically considered as expenses for tax purposes, simplifying the process and reducing the taxable income. There is no need to prove these expenses as they are automatically deducted from your tax base. This flat-rate expense deduction is designed to cover common business-related costs without requiring detailed documentation for each expense.
Sounds like a good offer for digital nomads, isn’t it?
Affordable Cost of Living and Good Infrastructure
Bulgaria provides a high quality of life at a significantly lower cost compared to many European countries. With affordable housing, transportation, and reasonably priced goods and services, digital nomads can enjoy a comfortable lifestyle in Bulgaria without straining their budget.
Good-developed transportation, featuring international airports in major cities like Sofia, Varna, Plovdiv, and Burgas. Rail transport across the country is relatively good and comfortable and is continually being improved with infrastructure investments. We highly recommend traveling throughout Bulgaria to explore the rich culture it hides. For its small territory, Bulgaria combines so many beautiful landscapes.
Strong Freelance Community
Bulgaria is home to a fast-growing community of digital nomads and freelancers. Given the broad remote work opportunities, many people relocating to Bulgaria are concentrating not only in the bigger cities but also in rural areas, where they can find the much-desired tranquility and peace of mind. And yes, the internet coverage and speed is great even there.
If you are tired of going solo and want a business partner, maybe this would be the right place to meet one.
Supportive Business Environment
The Bulgarian government is committed to creating a business-friendly environment. Bulgaria has ambitions to become an economic leader in Eastern Europe and to be a leading factor in the Balkans. With its acceptance into Schengen, even more business opportunities open up. The entrepreneurial and startup ecosystem is thriving, with several venture capital funds operating and investing in Bulgaria.
With its strategic location, Bulgaria easily attracts digital nomads not only from Europe but even from all over the world. This increases your chances of finding the perfect co-founder for your dream startup for sure.
Establishing yourself as a freelancer in Bulgaria is a great opportunity and can offer significant financial advantages. Thanks to its attractive tax system, low living costs, prime location, and growing digital nomad community, Bulgaria stands out as a top choice for freelancers who need a change.
We, at Switch2BG, are dedicated to making your move to Bulgaria as easy as possible. Let us guide you through the processes, allowing you to focus on the exciting prospects ahead of you and your business. Rely on us to be your dependable partner in Bulgaria as you start on this new chapter of your freelance journey. Reach out via our contact forms, and we’ll respond promptly!