Number of Romanian companies registered in Bulgaria up 47 percent in 2011

Some 401 Romanian companies were registered last year in Bulgaria, up from 272 in 2010, according to Bulgarian press agency Novinite. Romanians were not  the only ones to set up firms in Bulgaria in search of lower taxes and more stability, according to the same source. The number of Greek companies paying taxes in the neighboring country rose 75 percent to 3,781 from 2,199 in 2010, according to data from the National Revenue Agency in Sofia cited by Novinite.

“Fully-owned Greek and Romanian companies have shown an increased interest inBulgariabecause of lower tax and obligatory social security payments, as well as the country’s stable economy in the past few years,” the Revenue Agency said.

Bulgaria has a 10 percent flat tax and its currency, the lev, is pegged to the euro for more than a decade at the rate of 1.9985.

Simona Bazavan

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