Are you a freelancer and have you worked regularly, and for years, in Italy? Congratulations!!! Jokes aside... We at VR and Partners know the situation of Italian freelancers very well; several people on our same team have been for several years.
We are therefore well aware of the frustration that one feels every time, after completing a job and having managed to get paid by the customer (an operation which is also not entirely a given in Italy) one sees almost 70% of that amount go away in taxes. which he has laboriously earned.
Also due to this "tax burden" that takes the breath away from anyone with a VAT number, some members of our team have chosen to come and seek their fortune here in Bulgaria, and they have found it.
And VR and Partners was also born with the aim of sharing the positive experience of our move to Bulgaria with other Italian freelancers and entrepreneurs.
Yes, but how does it work in practice? How, could an Italian freelancer move his business to Bulgaria?
Let's start from the assumption that obviously moving abroad is not advisable for all freelancing activities; it is certainly not for those who provide direct contact with their clients while it is certainly for those freelancers who need to meet their clients only rarely or who alternatively can do it most of the time in smart mode, i.e. on call, chat or video call, according to the most recent and (due to Covid 19) super established smart working methods.
If you are a freelancer for whom an office in the center of Sofia is absolutely interchangeable with an office in the center of Milan, then moving your business to Bulgaria is a step that must absolutely be evaluated.
Why? Previously we used the metaphor of the tax cap, which doesn't allow people to breathe. Here, the experience of those who had the courage to leave Italy and give themselves a new opportunity here in Bulgaria is precisely that of those who have returned to breathe.
This is due to the tax system, a system that was created not to complicate the lives of freelancers but to make them feel at ease. As? With an IRPEF of 10%, regardless of the individual professional's annual taxable income, a sort of state flat tax that leaves much of the earnings in the hands of those who have worked hard to earn it.
Thanks to the 10% tax rate on businesses and individuals, the Bulgarian tax system is among the lightest in the entire European Union. In this regard: as we have repeatedly had the opportunity to recall, one of the advantages that differentiates Bulgaria from other Eastern countries with low taxation, such as Albania for example, is precisely the fact of being able, in the transition from Italy to Bulgaria, continue to operate within the European Union, with all the advantages that this entails, first of all the free movement of men and goods enshrined in the Schengen treaties.
How can we at VR and Partners help a freelancer achieve this result? The first step we can support you with is the transfer of residence.
Once this first obstacle has been overcome, thanks to us, always with the expert consultancy of VR and Partners, the freelancer will move on to set up his own business in Bulgaria.
At this point all that remains is to start the operational part of your freelance business; in this last phase, if requested, VR and Partners will also be able to support its client in the search for an office or a home as well as, once the business has started, the accounting necessary to always remain in compliance with the Bulgarian tax system.
A complete package therefore, designed specifically to meet the needs of those Italian freelancers who want to give themselves a new chance but who aren't sure where to start. By the way: do you want to know where to start? From a free consultation with our consultants. Contact us without obligation, we are always ready to welcome your requests.
