Business ideas Bulgaria Archive

From Musician to Entrepreneur

Francesco didn’t move to Bulgaria for economic reasons but out of love. His partner, a ballet dancer, was offered a position at the National Opera in Sofia. In Italy, it had become increasingly difficult for many creatives to make a living. So, Francesco decided to take the leap – and found a Master’s program in film music in Sofia that perfectly matched his vision.

This step opened unexpected doors. Soon after, he discovered opportunities in the booming gaming and online casino industries. With his dual expertise – composition and sound design – Francesco was able to carve out a niche for himself.

Starting a Business in Bulgaria – Easier Than Expected

The next step was clear: turn passion into a company. Francesco decided to register an EOOD (the Bulgarian equivalent of a limited liability company). With legal guidance, the entire process was completed within just one week – something that would have taken much longer in Italy.

Opening a business bank account also turned out smoother than expected. With an English-speaking bank, Francesco found low fees and easy-to-use online invoicing platforms that made his financial processes efficient.

Advantages and Challenges

How does Francesco see the decision to start a business in Bulgaria?

Advantages:

Low taxes: A flat corporate tax of 10% offers financial flexibility.

Affordable living costs: Both living and operating expenses are significantly lower than in Italy.

Market opportunities: Niche industries like film music and gaming are growing and open to newcomers.

Challenges:

Language barrier: Bureaucracy is still difficult without Bulgarian.

Limited funding: Compared to countries like Germany, Italy, or the US, state funding and investor networks are less developed.

Composing the Future

For Francesco, Bulgaria is the perfect place to build his creative career. With a new website and plans to expand his team, he aims to win bigger projects in Bulgaria and internationally.

His story shows: those who are willing to take risks and adapt can transform their creative passion into a sustainable business in Bulgaria.

This is just a glimpse into Francesco’s inspiring journey. You can read his full story and many more in the book “Start in Bulgaria – How to open a company in Bulgaria?”

Want more inspiring stories? Explore the experiences of other entrepreneurs in Bulgaria and check out our overview post on how to start a business here—packed with tips, insights, and real success stories.

Starting a business in Bulgaria can be both an exciting adventure and a real test of patience. Nadya and Aleks took that leap with Imagine Travel (nowadays Imagine Travel: Reading Retreats) , a company offering authentic cultural and nature experiences. Their path through forms, unclear regulations, and strategic decisions offers valuable lessons for anyone dreaming of launching their own venture in Bulgaria.

Understanding the Landscape

If you want to start a business in Bulgaria, you need to understand the environment first. Nadya and Aleks knew the country and spoke the language – yet they still faced conflicting information and unclear instructions. In industries like tourism, special licenses from the Ministry of Tourism are mandatory. The tricky part? The guidelines are often vague, leaving founders guessing whether a tourism degree or relevant work experience is required.

Research & Professional Support

Months of research eventually led the two to hire a lawyer familiar with local regulations. Communication took place mostly via messaging apps – not ideal, but it kept things moving. Their advice to others: involve experts early to save time and stress.

Connections Are Key

In smaller towns, navigating bureaucracy can be much easier if you know the right people. Nadya and Alek’s relationships with local bank staff, municipal officials, and service providers opened doors and sped up processes.

Managing Financial Hurdles

Bulgaria’s flat corporate tax rate of 10% and dividend tax of just 5% are major draws. Still, start-up costs should not be underestimated. For Nadya and Alek, Bulgaria was particularly appealing compared to Cyprus, where they would have had to lock €15,000 in a bank account as a security deposit.

Building a Support Network

“Going it alone” wasn’t an option for them. Their partnership provided not only practical help but also emotional support. They recommend finding mentors or business partners who know the local market and can share their experience.

Staying Flexible & Gathering Feedback

Before Imagine Travel officially launched, they planned to run a series of test tours. These “focus group” trips would help them gather feedback and fine-tune their offers to match their customers’ needs.

Pros and Cons from Nadya & Alek’s Perspective

Pros:

Strategic location in Southeast Europe
Lower operating costs compared to other markets
Growing tourism industry with new opportunities

Cons:

Complex and time-consuming bureaucracy

Nadya and Alek’s journey shows that starting a business in Bulgaria takes patience, research, and strong connections. But for those willing to invest the effort, the rewards – from low taxes to strategic advantages – can be worth it.

And this is just the short version. You can read the full story, including all the behind-the-scenes challenges and solutions, in our book “Start in Bulgaria – How to Open a Business in Bulgaria”.

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Tag: Business ideas Bulgaria

Francesco’s Encore: Building a Creative Business in Bulgaria