New tax in Bulgaria?

[mgs999999999]

Hi guys,

Are you aware of this? Has anyone heard about it?

Bulgaria Introducing Windfall Tax for All Sectors — Orbitax Tax News & Alerts

Bulgaria's Ministry of Finance has announced the publication of the draft Law on Amendments and Supplements to the Tax and Insurance (Social Security) Procedural Code. One of the key measures is the

orbitax.com

Best wishes,

 

[Don]

I believe this was dropped (as per Tax Foundation)

In March 2023, the finance minister announced a new one-off solidarity contribution for all sectors and for the tax period between July 1, 2023, and December 31, 2023. Nevertheless, this proposal was dropped.

Source: What European Countries Are Doing about Windfall Profit Taxes

Bulgaria introduces new temporary obligation for solidarity contribution

 

[nov111]

This was a proposal of the caretaker government of pro-Russian President Rumen Radev. With the appointment of the regular government, the current finance minister rejected this foolish idea. That can't happen. Overall, the aim was to "mine" the future (already elected) pro-EU government and announce that there is a budget default and to instill panic. This is part of the Russian hybrid war, but it failed.

 

[mgs999999999]

Thanks both for your reply. Then, would you consider Bulgaria as a “stable” and “safe” place?

Best wishes

 

[blancmon229]

Thanks both for your reply. Then, would you consider Bulgaria as a “stable” and “safe” place?

Best wishes

Yes, better than most western countries at least for me. It is probably one of the best countries in the EU. Nice people, good food and produce, nice nature, low prices, and low taxes. What more do you need?

 

[mgs999999999]

Yes, better than most western countries at least for me. It is probably one of the best countries in the EU. Nice people, good food and produce, nice nature, low prices, and low taxes. What more do you need?

Ideally, hot woman

Thanks a lot for your reply. Do you have a Bulgarian bank? If yes, which one do you recommend?

Best wishes

 

[myhand]

Any stable Bulgarian bank ? Taxes should not be a stop to not setup a company there.

 

[blancmon229]

Ideally, hot woman

They got plenty of hot blondes to brunettes there. I was going to add that but didn't know if you would care. And they are actually chill and not stuck up like US chicks. They are very easy too if you're a foreigner.
They also have a very family centered society as you will probably see when walking around there.

Thanks a lot for your reply. Do you have a Bulgarian bank? If yes, which one do you recommend?

Best wishes

I have DSK (a subsidiary of the Hungarian OTP bank) and UBB bank. Just keep in mind if you are going to have any relatively high amounts (relative to Bulgaria of course) in there you must have a great banker who understands the amounts you are sending in and out as the general population is kind of poor. Also, Bulgaria is somewhat still mafia run so don't keep over €400k or at least spread it out.

Good luck.

 

[mgs999999999]

Thanks a lot, this is very useful both girls and banking .

Yes, my clients will pay me around 50000€ monthly and I was thinking of keeping the personal with Revolut and wise and the freelance with some local bank. However, I have read about the mafia that you mention and I am wondering if it would be a better idea just to keep everything with neobanks…
Based on your experience for a Spanish man with 0 Bulgaria speaking would it be better just avoid Bulgarian banks?

Best wishes

 

[Marshal]

I have DSK (a subsidiary of the Hungarian OTP bank) and UBB bank. Just keep in mind if you are going to have any relatively high amounts (relative to Bulgaria of course) in there you must have a great banker who understands the amounts you are sending in and out as the general population is kind of poor. Also, Bulgaria is somewhat still mafia run so don't keep over €400k or at least spread it out.

Good advice. Living in Bulgaria doesn't mean you have to keep all your money in a Bulgarian bank

Based on your experience for a Spanish man with 0 Bulgaria speaking would it be better just avoid Bulgarian banks?

Knowledge of English is not widespead in Bulgaria, but in Sofia you will certainly find someone speaking English in almost every big bank branch. If there's a choice pick someone under 40.

 

[BalnearioCamboriu]

Knowledge of English is not widespead in Bulgaria, but in Sofia you will certainly find someone speaking English in almost every big bank branch. If there's a choice pick someone under 40.

Don't many in Bulgaria speak russian too?

I figure that this also might be "pro-Russian President" campaign of weakening independence and democrasy of Bulgaria by infiltrating in the very minds of their people, on the deepest level possible.

 

[Don]

Don't many in Bulgaria speak russian too?

I figure that this also might be "pro-Russian President" campaign of weakening independence and democrasy of Bulgaria by infiltrating in the very minds of their people, on the deepest level possible.

Bulgaria has quite a bit of a Russian-like vibe due to its communist history and old architecture. Russian and Bulgarian are both Slavic languages.
However, there are far fewer Russians there than for example in Cyprus or Baltics where Russian speech can be heard everywhere due to the sheer size of the existing community.

 

[BalnearioCamboriu]

Bulgaria has quite a bit of a Russian-like vibe due to its communist history and old architecture. Russian and Bulgarian are both Slavic languages.

I'll go to Bulgaria to do communism

 

[blancmon229]

Don't many in Bulgaria speak russian too?

I figure that this also might be "pro-Russian President" campaign of weakening independence and democrasy of Bulgaria by infiltrating in the very minds of their people, on the deepest level possible.

Yeah. You can get away with speaking Russian to anyone over 40 as Bulgarians had to learn Russian in school during the communist era. Plus, both Russians and Bulgarians tend to have an easier time understanding each other as 75% of the words are similiar. Just Bulgarians have rougher endings to the words so it makes it harder for Russian speakers to understand when spoken vs Bulgarians understand Russian easier. If you are in Varna there will be more Russians hence more locals will speak Russian. In Sofia, people tend to speak English.

Last time I was in a couple cities in Bulgaria, most people preffered to speak English and spoke English quite well.

Thanks a lot, this is very useful both girls and banking .

Yes, my clients will pay me around 50000€ monthly and I was thinking of keeping the personal with Revolut and wise and the freelance with some local bank. However, I have read about the mafia that you mention and I am wondering if it would be a better idea just to keep everything with neobanks…
Based on your experience for a Spanish man with 0 Bulgaria speaking would it be better just avoid Bulgarian banks?

Best wishes

You should be fine. Mostly everyone speaks English and are suprisingly extremely friendly and try to be helpful. Also, you can always ask lawyers for assistance in helping you get set up around Bulgaria. I did it through lawyers because I needed some other stuff sorted, and they were relatively cheap with high quality.

I'll go to Bulgaria to do communism

Good choice.

 

[MRot]

No issues with friendliness in Sofia and Plovdiv.
What I found offputting was a very car-centric city. Also very noticable that cars are old and loud, and people tend to floor it when driving from a green light.
I don't see anything like this in other European countries I have visited.

Next to that, I saw few concentrated nice areas to live, and mostly it is mix of good and bad buildings.
Except that fenced off neighbourhood to the south of Sofia. But that one charges very high service costs and is basically at Western+ price points.

 

[polonieth]

No issues with friendliness in Sofia and Plovdiv.
What I found offputting was a very car-centric city. Also very noticable that cars are old and loud, and people tend to floor it when driving from a green light.
I don't see anything like this in other European countries I have visited.

Next to that, I saw few concentrated nice areas to live, and mostly it is mix of good and bad buildings.
Except that fenced off neighbourhood to the south of Sofia. But that one charges very high service costs and is basically at Western+ price points.

Which neighbourhood is that?

 

[MRot]

I don't remember, but it's featured in this video;

And they have a smaller one near Bankya.

 

[toums]

They got plenty of hot blondes to brunettes there. I was going to add that but didn't know if you would care. And they are actually chill and not stuck up like US chicks. They are very easy too if you're a foreigner.
They also have a very family centered society as you will probably see when walking around there.


I have DSK (a subsidiary of the Hungarian OTP bank) and UBB bank. Just keep in mind if you are going to have any relatively high amounts (relative to Bulgaria of course) in there you must have a great banker who understands the amounts you are sending in and out as the general population is kind of poor. Also, Bulgaria is somewhat still mafia run so don't keep over €400k or at least spread it out.

Good luck.

Any idea if DSK is crypto friendly ? Because OTP Hungary and ex OTP Slovakia was really no limit for in/out SEPA movement from crypto exchanges..

 

[blancmon229]

Any idea if DSK is crypto friendly ? Because OTP Hungary and ex OTP Slovakia was really no limit for in/out SEPA movement from crypto exchanges..

I didn't have a chance to test it out with them, mainly because you have to consider that wiring funds to crypto exchanges from a bank that doesn't see large transactions (because the population in BG is mainly low income) it raises some red flags even for a 5k-10k wire.

So I didn't take that chance with the amounts I wire.

 

[toums]

I didn't have a chance to test it out with them, mainly because you have to consider that wiring funds to crypto exchanges from a bank that doesn't see large transactions (because the population in BG is mainly low income) it raises some red flags even for a 5k-10k wire.

So I didn't take that chance with the amounts I wire.

Maybe yes Maybe no. Ofc Bulgarians people has mainly low income, but in Hungary it's not too too much higher. And 0 problem to cash in / out almost any amount (7figures+). I dont think it's linked with the country itself (poor or rich). It's more related about the banks itself, verification, what they accept or not, if local currenty (leva, hungarian forint?) or in Euros / USD.. and ofc your links with the bank.
Central Europe is globally still very lax with this topic. Probably much more than western or richest countries. I don't have experiences with all banks, but I can say in HU and SK, very lax. I don't know well Bulgaria (just went few times, but no business or banking either). Just curious about if someone has a similar experience there.