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”.
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.
Bulgaria – a country that many people only know for its Black Sea coast or affordable vacations. But this country, located in the heart of Southern Europe, has much more to offer: an exciting history, impressive nature away from the sea, economic potential, and attractive conditions for entrepreneurs. In this article, you will learn what makes Bulgaria so special. You will learn how its geographical location is a strategic advantage and why more and more entrepreneurs are investing in the country. Let’s discover Bulgaria together.
What is Bulgaria known for?
Historical heritage and cultural diversity
Bulgaria is one of the oldest countries in Europe, founded in 681 AD, and has never lost its name or statehood since then. The country is a cultural mosaic, shaped by Thracian, Slavic, Ottoman, and Byzantine influences. World Heritage Sites [10] (Source) such as the Rila Monastery and the old town of Nessebar bear witness to this past.
Discovering Bulgaria means more than just a cheap vacation. Find out which cities are booming and why Bulgaria is interesting for entrepreneurs.
A natural paradise between the mountains and the sea
From the Black Sea in the east to the Rila and Pirin mountains in the southwest, Bulgaria offers breathtakingly diverse landscapes. Hiking, skiing, horseback riding, or sunbathing—there is something for everyone here. Several national parks, such as the Central Balkan and the Rhodope Mountains, make the country a paradise for nature lovers.
Bulgaria is known for its hearty cuisine with influences from the Balkans and the Mediterranean—and for its tomatoes. Specialties such as banitsa (stuffed pastry), shopska salad, and yogurt are popular throughout the country. Bulgarians are considered warm and helpful, which makes traveling and doing business in the country particularly pleasant.
Bulgaria is strategically located in southeastern Europe, nestled between East and West. It offers access to:
the Black Sea in the east (with the important ports of Varna and Burgas)
the Carpathian Mountains in the north
the Balkan region in the south and west
This location makes Bulgaria an ideal hub for trade, logistics, and international partnerships.
Bulgaria’s neighboring countries
Bulgaria borders a total of five countries:
Romania to the north
Serbia to the west
North Macedonia to the southwest
Greece to the south
and Turkey to the southeast
This neighborhood is important not only politically, but also economically. Bulgaria forms a bridge between the EU, the Middle East, and Asia.
The country’s largest cities
Sofia – capital and economic center
Sofia is not only Bulgaria’s largest city, but also its political, educational, and economic heart. With more than 1.2 million inhabitants, it is home to universities, start-ups, and international companies.
Plovdiv – European Capital of Culture 2019
Plovdiv, the second largest city, combines ancient history with urban modernity. The city attracts artists and entrepreneurs alike. Plovdiv is also the first Bulgarian city to be chosen as European Capital of Culture (source).
Varna & Burgas – Port cities on the Black Sea
These two cities are economic hotspots in the east of the country. They benefit from tourism, shipping, oil trading, and increasingly from the start-up and IT industries, which are drawn to the water.
Important industries in Bulgaria
Bulgaria’s economy is heavily influenced by the service sector, which includes tourism. This sector accounts for almost 60% of the Bulgarian economy. But let’s take a quick look at the individual industries in more detail.
IT & Outsourcing
Bulgaria has developed into a European IT hub. Low wages, highly qualified specialists, and EU membership make the country attractive to international companies. The sector is booming, especially in Sofia and Plovdiv. In addition, many services, such as call centers, are often outsourced to Bulgaria.
Tourism
With over 9 million visitors annually, tourism plays a key role. Revenue of €1.201 billion is forecast for this year (2025) and the market is growing (source).
Agriculture
Rose oil, wine, honey, cherries, and organic products are Bulgaria’s export hits. The country is also one of the world’s largest exporters of lavender oil.
Mechanical engineering & automotive supply
Bulgaria is a growing location for industrial manufacturing, from electrical parts to automotive components. Thanks to its EU membership, customs exemptions are a major advantage for exports. Even German automotive giants such as VW have recently toyed with the idea of relocating part of their production to Bulgaria (Source).
Real estate & construction
The real estate market, especially in Sofia, Polvdiw and along the coast, is dynamic. Foreign investors are increasingly discovering opportunities in residential construction and the tourism sector.
Why it is exciting for entrepreneurs to discover Bulgaria
More and more entrepreneurs are discovering Bulgaria. Entrepreneurs are discovering Bulgaria for themselves, and digital nomads are drawn here as if Bulgaria were actually Bali. Germans, Austrians, and Swiss in particular are increasingly moving to Bulgaria to start their own businesses or internationalize their existing ones.
This is not surprising, as Bulgaria offers many advantages for start-ups and entrepreneurs:
Low corporate taxes (10% corporate income tax – one of the lowest in the EU)
Low cost of living (ideal for startups in the start-up phase)
EU membership (provides legal and investment security)
Easy to set up a business (quick and relatively straightforward start-up processes)
High availability of skilled workers (especially in the IT, technology, and finance sectors)
Discover Bulgaria – it’s worth it!
Anyone who has only seen Bulgaria as a cheap vacation destination is underestimating its full potential. Its geographical location, business-friendly climate, cultural depth, and impressive nature make it a country that is extremely attractive to both travelers and entrepreneurs. Whether you want to start a business, invest in real estate, or simply discover a cultural experience, Bulgaria offers you all the options.
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