1. Regional Talent Hub
Sofia has a well-developed recruitment base of highly skilled employees, especially in the ICT sector and the creative industries
23 universities, over 100 000 students, 63 research centers and 20+ independent software schools
Most young people in Sofia speak English
Read more about the labor force
2. Global R&D IT Leaders Аre in Sofia
Global IT R&D leaders like SAP Labs, HP, Bosch, VMware, IBM, CISCO already operate large R&D centers employing, educating and developing thousands of highly qualified professionals
50 000 people employed in over 100 IT companies
Read more about the IT industry
3. Business Friendly Tax Rates
The lowest corporate tax in EU – 10% flat
The lowest personal income tax in EU- 10% flat
4. Competitive Business Costs
The lowest overall labor cost per hour in the EU
One of the lowest office space costs in Europe. Low total occupancy cost per square meter per year – 223 Euro (2014)
One of the lowest industrial energy prices in the EU
5. Easy to Start a Business
Capital requirement of 1 Euro
Sofia is the 3rd city in Europe in number of start-ups, with 90% of them in the ICT sector
Investor class C certificate is awarded to projects of regional significance
Read more about registering a business
6. Low Currency Risk
The Bulgarian lev is pecked to the Euro
Investors will avoid additional risks of local currencies exchange rate fluctuations present in other non-Euro-zone countries
7. Developed Creative Industries Sector
Sofia is a center of the cultural and creative industries. In 2014 it was awarded the title “Creative City of Film” by UNESCO
Bulgaria ranks 37th out of 128 countries in “creative outputs” indicator for 2018 (Global Innovation Index).
3/4 of the sector’s workforce in Bulgaria is concentrated in Sofia
Read more about the creative industries
8. Great Digital Infrastructure
Great ICT test market and good condition for the development of services of the digital and sharing economy
High Broadband adoption
One of the highest average connection speeds in Europe
9. Strategic Business Location Between Europe, the Middle East and Russia
Use Sofia as your gateway into the markets of the Middle East and the Russian Federation, while setting operations in an EU-member country
Only 1 to 3 hours flights’ duration to connect with the biggest European hubs
Sofia Airport launched 42 new routes between 2015-2018
10. EU Funding Opportunities
Companies registered in Bulgaria have access to EU funds on both – national and EU levels, which provides many opportunities for direct business partnerships with companies from various European countries
Source: Sofia Invest Agency