The Republic of Bulgaria is a country located to the southeast of the European continent, member of the European Union. It borders Romania to the north, Serbia and the Republic of Macedonia to the west, Greece and Turkey to the south and the Black Sea to the east. Although being a relatively large country, its population is just over 7 million inhabitants. Most is concentrated in cities, mainly in its capital Sofia and to a lesser extent the Plovdiv and Varna. Bulgaria is well-known for its ski resorts in winter, its thermal water springs and its almost 200 km of Dead Sea’s beaches.
Its official currency is the Bulgarian Lev (BGN), pegged to the EUR at a 1.95:1 ratio, but it is foreseen that will join Eurozone in the coming years. Its main economic sector is the industry, mainly steel, chemical and textile. Bulgaria produces a significant amount of products and raw materials such as iron, copper, gold, bismuth, coal, electronics, refined petroleum fuels, automobile parts, firearms and construction materials. Tourism is another important sector and the fastest growing, about 13.6 million of tourist visited the country in 2016. Regarding the agriculture, Bulgaria is a top world producer of tobacco and raspberries, and has large agricultural lands of wheat, maize, barley, rye, rice, cotton and sunflower.
Bulgaria has one of the lowest tax burden in the European Union and get residency, and even citizenship, is possible through incorporation and/or investment. At Flag Theory, where we find the best locations to internationalize, you can learn why and how to get residency and citizenship, investment opportunities, set up a company and banking options in Bulgaria.