Many times on this blog we have talked to you about taxes in Bulgaria, about how they have become a pole of attraction for many foreign investors interested in relocating their business here to take advantage of the local tax system with a single rate of 10%. However, and we have already dealt with it here when talking about deductions and tax relief, these are not the only tax advantages that this extraordinary nation is able to offer. For example, few people know that Bulgaria, despite being the size of half of Northern Italy, is one of the European nations with the largest number of free zones. To date there are exactly 6. The most important is certainly that of Plovdiv: it is the second largest city in Bulgaria, and its free zone is very important because it is the only one also equipped with an airport.
Then there are two free zones on the Danube, an extraordinary communication channel for the country, and they are located respectively on two ports, that of Vidin and that of Ruse. On the Black Sea there is also the free zone of Burgas. Finally we would like to point out the two free zones of Dragoman and Svilengrad, close to Serbia and Turkey respectively.
But what are the advantages of free zones? They are different and now we are going to list them for you. First of all, we must consider that in these areas, for example, more convenient exchange rates are applied compared to those in the rest of the country. Furthermore, those who do business within the free zones of Bulgaria also have the possibility of transferring profits abroad without particular limitations, an ideal situation, the latter, for those who, for example, want to produce in Bulgaria but then "export" the profits of this activity in Italy.
Finally, also in the free zones, special regulations are active for the transit of goods: for example, goods entering these zones or deposited here are not subject to Bulgarian taxation, except in some particular cases, and this regardless of the duration of the deposit. No customs duties apply to goods entering or leaving the free zones.
If you are interested in learning how Bulgarian free zones can be useful for your business we invite you to contact us without commitment: a team of our expert business consultants will be able to support you in the best and safest way for you and your business.
