Financial and business news from Bulgaria

The state will no longer pay insurances to callcenters

The change does not apply retroactively
The State's incentive measure for partial recovery of health and social security contributions to employees will no longer apply to call centres, warehouses and non-specialised office activities.

Such a change in the implementing rules of the Investment Promotion Act was made as early as November last year. According to the Ministry of Economy, these activities with lower value added are excluded at the expense of higher ones.

Measure for

recovery

of insurances

is from 2013

Then more areas are included in it so that the service sector can develop in our country. It really helped many companies to come to Bulgaria, which then started with call centers. But over time the companies carried out administrative activities in Bulgaria that require more qualified employment related to accounting, HR, tax consultations, etc., explained for “24 hours” by the economic ministry. And since the resource under the Investment Promotion Act is limited, and the services sector has evolved over time, the decision was made to reduce the scope of the measure.

It will not apply retroactively - that is, projects certified under the conditions prior to the amendment of the regulations will be able to use the measure if it was envisaged in the certification.

Centers currently benefit mostly from shortened administrative deadlines, and warehouses - also from assistance for acquiring property. Because they are located in cities, they usually do not benefit from support for building infrastructure.

Changes in the Bulgarian Citizenship Act, however, introduced another measure to support investors. According to her, entrepreneurs from outside the EU will have quick access to stay in Bulgaria via a so-called start-up visa.

The main objective of the new instrument is to attract investments in companies registered in our country developing products with high added value by providing the possibility of obtaining a permit for a long stay. According to the association of startups BESCO in 10 years

in Bulgaria

You can come

300 strategs

annually

Currently such companies are mainly from the EU through investments from Bulgarian equity and venture finance funds and digital nomadism.

“There are no data on how many startups enter the EU per year, but we believe that Bulgaria has the potential to take a substantial part of them. Currently, 200 and 300 startups are created annually in our country. From abroad come no more than 30 who start doing business from here. By achieving this goal, we would double the current norm,” the startup association said.





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