Embrace innovative investments with a crypto-friendly company in Bulgaria
Traveling to Bulgaria is quite interesting both from a business perspective and from a cultural point of view. Those who are educated in the Western World usually know little about the culture and habits of Eastern countries. On our radar there are jurisdictions like Germany, Spain, The United States, and, maybe because of its important role in history, even Russia. However, there are other countries that boast some interesting features while offering unique advantages. If you're not asking yourself “why choose Bulgaria for my business” you should start right now because, sometimes, the best opportunity can be in the most unexpected place.
Traveling to Bulgaria and discovering a new culture
Did you know that in the city of Balchik all crosswalks are drawn as a piano keyboard? Another feature is the fact that the country is widely known for producing rose oil. Also, the country speaks to us through its habits and culture, and this includes the traditional food. Shopska is the most traditional meal in Bulgaria and quite interestingly it has the colors of the national flag: white cheese, green cucumber, and red tomatoes. Moreover, people say it's quite delicious.
Getting closer to the essence of the article it’s worth mentioning Bulgaria's cost of living. The country is surprisingly cheap. Bulgaria’s currency is the lev, and, at the time of writing, the exchange ratio is 1USD:1,85 BGN
An analysis of Bulgaria's products, services, and food, accommodation, health, and tuition costs shows that Bulgaria is the cheapest country in the European Union. In 2017, reports indicated that its prices were 56% below the European Union’s average. Romania follows with only 52 percent and then Poland, Hungary, and Lithuania take the following positions.
What does this say about Bulgaria? Let's dive into the advantages of Bulgaria business and financial environment.
Why choose Bulgaria for my business
Fortunately, there's more to Bulgaria than picturesque habits and places. Let's analyze how this country can help businesspeople who want to make innovative investments.
An environment like this one constitutes a great opportunity because it combines the best of two fronts: Bulgaria business allows you to be a part of the European Union at much lower costs. It's not necessary to explain that the cost of hiring personnel and establishing an office will be considerably attractive.
Traveling to Bulgaria and staying there also becomes more accessible. Whether you choose to live there or simply visit often to check up on things, it will be nice to have affordable accommodation, transportation, and food at hand’s reach.
But this is only the beginning. The advantages of Bulgaria barely start here. As we explain in one of our articles, Bulgaria is a great place to work with crypto and to set up innovative investments.
Bulgaria crypto environment is quite advanced especially when it comes to regulations. With the crypto license, you'll be able to trade crypto for fiat and vice versa while also providing wallet services. In other words, you can offer custodian services, Bulgaria crypto trading, exchange services, and e-wallet issuance. Thus, you'll have to answer to the Central Office of the National Revenue Agency, the entity in charge of granting and regulating such licenses.
The conditions are quite accessible. For example, you only need one local director who can also act as the contact person. Establishing a Bulgaria crypto company is quite straightforward and affordable as it only requires one euro for the initial capital. Management and setup are easy as you need only two people: one shareholder (who can also be the managing director) and one local director. Naturally, you can choose to have more shareholders.
Keep in mind that, to work with crypto in Bulgaria by setting up such a business, there are some substance requirements which are fortunately quite friendly. Each Bulgaria crypto company must have a local account and a registered office, and it must pay its tax obligations. This is actually not as bad as it sounds because Bulgaria has the lowest corporate income tax in the European Union.
Disclaimer: this article must not be considered corporate, financial, investment, or tax advice as its only purpose is to provide general information. Before setting up a crypto business in Bulgaria, make sure to consult with a certified professional and assess all benefits and risks according to your particular case.
Embrace innovative investments and work with crypto through a Bulgaria business
Mundo is here for you, especially when it comes to innovative investments. The crypto sector is still relatively new, and it has as many followers as it has detractors. Nonetheless, this shouldn’t stop you from taking advantage of this line of business.
While some believe that digital money is the future, others still see the banking sector as a strong presence. One thing is sure, if you work with crypto, you'll have benefits because these currencies don’t seem to be ready to leave their share of the market empty. Actually, in Mundo's opinion, it's quite possible that, at the end of the day, the banks end up embracing crypto by taking it up into their framework.
Until then there's nothing but assumptions. In the meantime, the advantages of Bulgaria crypto are quite interesting. If you're wondering “why choose Bulgaria for my business”, think that it's a European Union country with very low costs and some of the lowest tax rates in the union. Moreover, it also boasts quite a charming environment and a unique culture. All in all, Bulgaria is one of the best places in the world to work with crypto. If you want to establish your company here, contact us now.
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