Why Bulgaria? Why Sofia? Here, in this post we will list what we think are 5 excellent reasons to choose the Bulgarian capital as the headquarters of a company operating in the manufacturing field, regardless of whether it is linked to fashion, construction or food. In our opinion, Sofia is an ideal place to open your next production site and now we will explain why.
LOW TAX
This motivation is actually somewhat common to all of Bulgaria but still remains, from our point of view, the most attractive. If you decide to move your tax residence and your production plants here to Sofia you will finally enter into one of the lightest tax regimes in Europe, the Bulgarian one. Yes, because regardless of what your income will be, a single flat tax will be applied to both your personal and corporate income equal to 10%. And considering that the average tax rate in Italy is almost 50%…
LOW LABOR COST
Let's say, because this is what we're talking about, that you open a manufacturing plant. You will obviously need to hire workers, a significant cost item on your budget. Well, by choosing Sofia in Bulgaria you can count on a labor cost equal to 1/5 of that practiced in Italy. In practice, if in the Bel Paese, according to Istat data, the industrial cost of a worker is around 40 thousand euros per year between salary and contributions, in Bulgaria you will spend less than 10 thousand!
LOW RENTING COSTS
If your company in Bulgaria deals with manufacturing, as well as workers, you will need an office. Another important cost item in the production cycle. But the costs of an industrial site, such as an equipped warehouse near Sofia, are not even remotely comparable to those you would encounter in Italy. An example? We recently helped one of our clients rent a warehouse 22 km from the center of Sofia, measuring 1700 m2 for only 3 thousand euros a month. What could you do with the same amount on the outskirts of any Italian city? With 770 thousand euros, another client of ours directly purchased an industrial warehouse near Sofia as large as 3 football fields!
PREPARED LABOR
In one of the previous paragraphs in In this post we told you about the low cost of labor in Bulgaria compared to Italy. But this is only one of the points in favor of the Bulgarian workforce, which in addition to being cheap is also very prepared. The Bulgarian workers in fact come from technical schools that refer to the ancient tradition of Eastern Europe, with great attention to learning and the use of practical notions which ensures that the children, once graduated, are immediately employable in the world of work. The same applies to the University of Sofia, a university which is today also frequented by many kids from Italy.
GOOD LOGISTIC
If you produce manufacturing you will also at some point want to sell it and ship it to the rest of the world. From this point of view too, Sofia's choice is a winning one. The Bulgarian capital is in fact connected to all of Europe through its main airport; but not only. By land you can easily reach the ports of Turkey and Greece through which you can conveniently transit your products to all global destinations. Still on land, starting from Sofia you can reach Germany and Russia in half a day, two large markets often crossed by Italian productions.
