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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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