Massive & Overlooked Benefits of Residency in Bulgaria 🇧🇬

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More and more digital nomads and entrepreneurs are choosing Bulgaria as their home base. Bulgaria has always been attractive among these types of people, and the popularity is just increasing.

Why should you consider setting up a residency in Bulgaria? There are many, many reasons for doing so, but today I will cover some massive and sometimes overlooked benefits of setting up a Bulgarian residency.

Today we will cover how to use Bulgaria as a part of your global residency strategy.

As you probably already know Bulgaria offers quite low taxes, among the lowest in the EU. Both corporate and personal tax rate is 10%, and there is 5% tax on dividends and If you structure yourself properly you will be able to pay only 7,5% in tax.
This is quite reasonable for most people.

Another massive advantage of Bulgaria is the low cost of living. Your money will go quite far, and you will get a good bang for the buck in here.

The third and certainly most overlooked thing, which is very important for people like us, is that there are no minimum stay requirements in order to maintain your residency.

Most other EU countries (unless you apply for Golden Visa) will require you to spend some time in the country. Some will require that you spent at least 6 months every year there. This is quite inconvenient and makes things complicated for someone who travels a lot.

As you can see, there are many advantages of getting a residency in Bulgaria. It’s fast and convenient (especially if you’re an EU citizen), it is a cheap place to live, well connected by air.

If you’re thinking about getting multiple residencies around the world, you should definitely include Bulgaria as one of the places where you’re going to plant some flags.

Who are we and what do we do?

We are Offshore Citizen team. We help people become global: get a second passport, set up a second residency, pay less taxes, do banking abroad, etc.

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Author: Michael Rosmer

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  1. I am not able to find any evidence stating that you can become a tax resident on day 1 of staying there with no 183 days rule. On the contrary. Every thing I found states the 183 days rule. Can you please link your source? Thanks!

  2. Is that true with no 183 days rule? I thought that for Europeans is the best 60day non-dom rule in Cyprus and the rest of the countries need 183 days to be tax resident.

  3. Instead of leasing accommodation for 12 months for the residency – that may never be lived in, I'm sure there's an enterprising soul out there who lives in Bulgaria who could sublet for an annual fee… like LAAS… Landlord As A Service!! ; ) Thoughts?

  4. Great video Michael as always. I hadn't previously properly considered the benefit low minimum stay. Looking at the criteria, the exception only counts if you can prove center of vital interests. To me this is less attractive, as it leads to ambiguity and potential issues with my other tax residency (Norway – who are very strict on these things).

    I see the 183 day rule seems to be calculated as becoming tax resident for the fiscal year if you have 183 days in a 12 month period ending any time during that year. Does that mean I could spend 184 days ending on January 1 2022, and become tax resident for the full 2021 AND 2022?

  5. Intersting argument "the quality of life for the cost is quite reasonable" … really? In other words the cave you can get and the quality of stones available for the cost is very reasonable. I agree 100% if living in a cave and eating stone is what you need. Bulgaria will be great in about 50 – 100 years. Never the less interesting argument.

  6. Have you also considered an SRL in Romania and only pay 6-9% in total ?
    I always enjoy your content! Your channel should have much more subscribers

  7. Thanks Micheal for the video. 🌹
    But if I can't roam the EU freely with this residency, then I guess the Maltese PR is much better than this. As I get to travel/stay anywhere in the EU and Malta doesn't have min. stay requirement as well. Am I correct?

  8. Another great video as usual. I think you did a good analysis of comparing Cyprus to Bulgaria. I didn't know about this minimum stay in Bulgaria. I remember you mentioned Cypress was 60 days but the other problem of course is where do you spend the rest of your time. Lots of countries are clamping down on making you a by staying so many days. I mean you got to stay somewhere. I get the cost of living being much lower, that's quite significant especially if you're earning income. Paying low tax and contrasting that with a low cost of living maybe cheaper in the final analysis depending on your particular situation. My concern might be the language, I can't speak Bulgarian or any other Slavic language for that matter so it might be a challenge. But I guess that's the same no matter where you go we're English is not the dominant language. But after watching your video, you have piqued my interest so I'm going to visit for sure hopefully when this pandemic quiets down a bit. Always a pleasure to watch your video

  9. Thanks Michael, another informative video. I'm considering Varna/Plovdiv as my centre of activity. Is it better, in your opinion, to set up a Bulgarian company and consult through that (I am a software engineer) with corporate tax and dividend taxes, or an American LLC and pay the tax on salary.

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