Sofia has rapidly accelerated its development. Sofia municipality prioritizes making the city home of a vital startup, innovation and R&D ecosystem. Building and expanding the infrastructure and improving the quality of life have further enhanced the city’s business climate.

10 Great Reasons to Invest in Sofia

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 15+ independent software schools
  • Most young people in Sofia speak English

2. Global R&D ICT 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

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

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

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
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