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Bulgarian Property & Real Estate News

Foreign Investments continue in Bulgaria Properties

It is every country’s wish to have an increasing number of foreign investors choosing their country as the choice destination for their various investment endeavors. Every country tries to encourage this by use of various incentives such as tax advantages extended to investors in addition to increasing the flow of investments. This is so mainly because most countries realize the benefits that come with increased investments.

Bulgaria has managed to provide an ample environment for investors and thus making it possible for investors interested in buying Bulgaria Properties to easily carry out their transactions. This, the government of Bulgaria has been able to achieve in recent years through the simplification of the various requirements and procedures that are mandatory for one to comply with before being allowed to invest in Bulgaria properties for sale. This simplification of requirements has significantly reduced the cost and time required for people to get to own Bulgaria properties, thus making the country very attractive to foreign investors. The reduction of income and corporate taxes to just 10% has also greatly encouraged investments in Bulgaria

The country has worked to improve transparency in the Bulgaria properties market, and this level of predictability has also added to its allure as a target for foreign investors to buy Bulgaria properties for sale. Several new laws were passed in 2011, aimed at improving the quality of Bulgarian real estate agents and introducing better controls within the real estate sector. The increase in the level of investments has seen various developments in the whole economy of the country as it has meant that there are more capital inflows. This has led to the consistent developments of other sectors of the economy in the country. The buildup of infrastructure, spurred by both the increasing money flow in the country and the country’s need to boost the Bulgaria property sales has also led to increasing economical activities in other sectors as the environment in the country is being made better and better. Read more…

Low tax rates boost investment in Bulgaria

The latest research from KPMG tax consultants shows that Bulgaria is one of the top ten countries globally with the lowest tax rates. It is bettered only by tax havens like Hong Kong, the Bahamas, and Caymen Islands.

The effective tax rates are calculated using total income tax and social insurance costs over gross income before any deductions. The results factor in both the personal income tax rate and social security rates for workers earning 100,000 USD. The survey was conducted across 81 countries.

Overall the survey shows that the main area of tax rate changes in 2010 were in Europe. European citizens still pay the highest personal income taxes rates globally. Read more…

German investing in Bulgaria planned to increase

Angela Merkel was in Sofia yesterday to meet with he German Bulgarian Chamber of Industry and Commerce. During the meeting they discussed the chambers plans for increasing by 100% the German investments in Bulgaria and the also doubling the bilateral trade by the year 2015.

Merkel was the main speaker at the event, which was attended by over 350 delegates,made up of German businessmen and representatives from several Bulgarian ministries including the Bulgarian prime minister Borrisov.

The 2015 Action Plan lists several approaches to increase the number of Germans investing in Bulgaria and also Bulgarian trade with Germany. Germany is currently Bulgaria’s largest trading partner. Read more…

New auto manufacturer for Bulgarian market

The Great Wall Motor Co as announced that it will join with Litex Motors from Bulgaria and will start producing vehicles in a factory in Lovech, Bulgaria.

Great Wall Motors is China’s biggest auto maker and has signed a partnership agreement with Litex Commerce from Bulgaria. The signing on 15th October was watched by the Bulgarian PM Boiko Borrisov. the prime minister stated that this would be a major Bulgarian investment and a significant benefit to the Bulgarian economy.

The overall annual production from the factory is estimated at 50,000 units and 4 different models are planned including – an SUV, a pickup and two standard car versions. Read more…

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