Lower taxes: Bulgaria has one of the lowest corporate tax rates in Europe at 10%, compared to the UK's corporate tax rate of 19%. This makes it a more attractive location for foreign businesses looking to establish a subsidiary and keep their operating costs low.

Lower labor costs: Labor costs in Bulgaria are significantly lower than in the UK, making it a more cost-effective location for foreign businesses to establish a subsidiary. According to Eurostat, the average hourly labor cost in Bulgaria in 2020 was €6.4, compared to €28.4 in the UK.

Access to the EU market: As a member of the EU, Bulgaria provides foreign businesses with access to the EU market. This is particularly important for businesses looking to expand their operations within the EU, as it allows them to take advantage of the benefits of the single market, such as the free movement of goods, services, capital, and people.

Skilled workforce: Bulgaria has a highly educated and skilled workforce, with a focus on science, technology, engineering, and mathematics (STEM) subjects. Many Bulgarian universities offer courses in English, making it easier for foreign businesses to recruit highly qualified employees.

Favourable business environment: Bulgaria has made significant improvements to its business environment in recent years, with a focus on reducing bureaucracy and improving transparency. This has led to a more favourable environment for foreign businesses looking to establish a subsidiary in Bulgaria.

Proximity to emerging markets: Bulgaria's strategic location in Southeast Europe puts it near emerging markets such as the Middle East, North Africa, and Central Asia. This makes it an ideal location for businesses looking to expand their operations into these markets.

Lower operating costs: Bulgaria offers lower operating costs than the USA, including lower labor costs, office rent, and taxes. According to the 2021 Cushman & Wakefield report, Sofia ranks 6th among the most cost-effective cities for operating a business globally, while New York City ranks 6th among the most expensive.

Access to the European market: As an EU member state, Bulgaria provides easy access to the European market, which is the world's largest single market with over 450 million consumers. This offers significant advantages for businesses in terms of free movement of goods, services, capital, and people.

Skilled and multilingual workforce: Bulgaria has a highly skilled and multilingual workforce, with a literacy rate of 98.4% and a large pool of university graduates. The country is known for its proficiency in languages, including English, German, French, and Russian, which makes it easier for businesses to communicate with clients and partners from different countries.

Favourable business environment: Bulgaria offers a favourable business environment, with a simple and transparent tax system, low corporate tax rates of 10%, and a range of investment incentives and grants. The country has also implemented a number of reforms to improve the business climate, including measures to reduce bureaucracy and increase transparency.

Strategic location: Bulgaria is strategically located at the crossroads of Europe, Asia, and the Middle East, providing access to some of the fastest-growing markets in the world. The country offers easy access to major European cities and ports, as well as direct flights to key business destinations.

Stable political and economic environment: Bulgaria has a stable political and economic environment, with a sound legal framework and a commitment to promoting foreign investment. The country has also been ranked as the most secure country in the Balkans region, providing a safe and stable environment for businesses to operate in.

Cost of Labour: Bulgaria has a significantly lower cost of labour compared to Germany, making it a more cost-effective option for companies looking to establish a subsidiary. According to Eurostat data from 2020, the average hourly labour cost in Germany was €35.60, while in Bulgaria it was €6.50.

Tax Incentives: Bulgaria offers several tax incentives for businesses, including a 10% flat corporate income tax rate, making it an attractive destination for foreign investment. In contrast, the corporate income tax rate in Germany is 15% to 30%, depending on the level of profit.

Ease of Doing Business: According to the World Bank's Ease of Doing Business Index 2022, Bulgaria ranks higher than Germany, placing 44th compared to Germany's 60th. Bulgaria scores particularly well in the areas of starting a business, registering property, and getting credit.

Skilled Workforce: Bulgaria has a highly skilled and educated workforce, with a strong emphasis on STEM subjects (Science, Technology, Engineering, and Mathematics). Bulgaria has the highest number of IT specialists per capita in Europe, with over 70,000 IT professionals. Germany is also known for its highly skilled workforce, but the cost of labour is significantly higher.

Geographical Location: Bulgaria is strategically located in Southeast Europe, with easy access to the Middle East, North Africa, and Asia. This location can be advantageous for companies looking to expand into these markets, as it offers a gateway to a wider network of potential customers and partners. In contrast, Germany is in Central Europe, which may not be as advantageous for companies looking to expand into these regions.

Labour Costs: According to Eurostat, the average hourly labour cost in Bulgaria was €6.5 in 2020, while in Switzerland it was €57.1. This means that labour costs in Switzerland are almost 9 times higher than in Bulgaria.

Corporate Tax Rates: Bulgaria's corporate tax rate is 10%, which is one of the lowest in the EU, while Switzerland's is 8.5% - 22.5% depending on the canton. Additionally, Bulgaria offers a range of tax incentives for companies investing in research and development, making it an even more attractive destination for tech companies.

Skilled Workforce: Bulgaria has a large pool of highly skilled IT professionals, with over 80,000 people employed in the IT sector. The country also has a strong focus on education and training, with several universities and training programs offering courses in IT and related fields. Switzerland, on the other hand, has a smaller population and a smaller pool of IT professionals, making it more difficult to find skilled workers.

Geographical Location: Bulgaria's location at the crossroads of Europe and Asia makes it an ideal location for companies looking to expand into emerging markets in the region. It also offers easy access to the rest of Europe, with good transport links to major cities across the continent. Switzerland, while centrally located in Europe, does not offer the same level of access to emerging markets.

EU Membership: As an EU member state, Bulgaria offers companies access to the world's largest single market with a population of over 500 million people. This provides businesses with the opportunity to sell their products and services across the EU without the need for additional tariffs or trade barriers. Switzerland, while not a member of the EU, does have a number of trade agreements in place with the bloc, but this can still result in additional barriers for companies looking to do business in the region.

Cost of Living: The cost of living in Bulgaria is significantly lower than in Switzerland, with prices for goods and services up to 70% cheaper. This means that employees can enjoy a higher standard of living in Bulgaria with a lower cost of living, making it an attractive destination for companies looking to establish an office in Europe.

Lower business costs: Bulgaria has significantly lower business costs compared to Sweden. For example, the average monthly salary in Bulgaria is about €660, while in Sweden it is around €3,600. This means that labor costs for businesses in Bulgaria are much lower than in Sweden. Additionally, Bulgaria offers lower corporate tax rates compared to Sweden, with a flat rate of 10% compared to Sweden's 22%.

Easier to start/grow a business: According to the World Bank's Ease of Doing Business Index, Bulgaria ranks higher than Sweden in terms of starting a business, with Bulgaria ranking 59th and Sweden ranking 93rd. Bulgaria has simplified and streamlined its procedures for starting a business, reducing the number of required procedures and time needed to start a business.

Skilled workforce: Bulgaria has a highly educated and skilled workforce, with a strong focus on STEM education. In fact, Bulgaria ranks third in the world for the number of ICT specialists per capita, behind only Israel and the United States. This provides businesses with access to a talented and qualified pool of workers.

Favourable location: Bulgaria's strategic location in Southeast Europe makes it an attractive hub for businesses looking to expand their operations in the region. It offers easy access to markets in Central and Eastern Europe, the Middle East, and Asia, making it an ideal location for businesses looking to expand their reach.

Some statistics to support these points include:

The average monthly salary in Bulgaria is €660, compared to €3,600 in Sweden (Eurostat, 2022)

Bulgaria has a flat corporate tax rate of 10%, while Sweden's corporate tax rate is 22% (PwC, 2022)

Bulgaria ranks 59th and Sweden ranks 93rd in the World Bank's Ease of Doing Business Index (World Bank, 2022)

Bulgaria has the third-highest number of ICT specialists per capita in the world, behind only Israel and the United States (Eurostat, 2022)

Lower Business Costs: Bulgaria has a significantly lower cost of living and doing business than Denmark. For example, the average monthly salary in Bulgaria is around €690, compared to €4,140 in Denmark. This makes it much more cost-effective to set up a business in Bulgaria, with lower overheads and labour costs.

Lower Corporate Taxes: Bulgaria offers a very attractive corporate tax rate of only 10%, compared to Denmark's 22% rate. This makes Bulgaria a much more cost-effective destination for businesses looking to maximize their profits.

Young and Highly Educated Workforce: Bulgaria has a young and highly educated workforce, with a literacy rate of 98% and a large number of universities and technical colleges. This means that businesses in Bulgaria can easily find skilled and motivated employees to drive their growth.

Strategic Location: Bulgaria is strategically located at the crossroads of Europe, Asia, and Africa. It has easy access to major transport routes, including highways, railways, and seaports, making it an ideal location for businesses looking to reach customers across the region.

EU Membership: Bulgaria is a member of the European Union, providing businesses with access to a large and prosperous market of over 500 million consumers. This can be particularly advantageous for businesses looking to expand their operations across Europe.

Some relevant statistics to support these points:

Average monthly salary in Bulgaria: €660 (2022), compared to €4,140 in Denmark (2022)

Corporate tax rate in Bulgaria: 10%, compared to 22% in Denmark (2022)

Literacy rate in Bulgaria: 98% (2022), compared to 97% in Denmark (2022)

Number of universities in Bulgaria: 51 (2021), compared to 8 in Denmark (2021)

Bulgaria's strategic location provides access to over 700 million consumers within a 1,000-kilometer radius.

Bulgaria ranks 47th in the World Bank's Ease of Doing Business rankings (2022), compared to Denmark at 4th place.

Stable Political Environment: Bulgaria has a stable political environment compared to many African countries, which are often prone to political instability and conflict. This stability provides a secure and predictable environment for businesses to operate in.

Strategic Location: Bulgaria's location in Southeast Europe provides businesses with easy access to both Western and Eastern Europe. This central location makes it an ideal hub for companies looking to expand their operations in Europe and beyond.

Skilled Workforce: Bulgaria has a well-educated and skilled workforce, with a literacy rate of 98% and a large number of university graduates in STEM fields. This means that businesses can easily find and hire skilled employees.

Competitive Tax Regime: Bulgaria has one of the lowest corporate tax rates in Europe, at just 10%. This provides businesses with a competitive advantage over many African countries, where tax rates can be much higher E.g., 15% in Morocco and as high as 40% in Chad.

Stable Currency: Bulgaria uses the Bulgarian Lev (BGN), which is a stable currency that is pegged to the Euro. This provides businesses with a stable and predictable currency environment, which is not always the case in many African countries.

Ease of Doing Business: Bulgaria has made significant efforts to improve its business environment in recent years, and currently ranks 59th out of 190 countries in the World Bank's Ease of Doing Business report. This makes it easier for businesses to start and operate in Bulgaria compared to many African countries.

Infrastructure: Bulgaria has a modern and well-developed infrastructure, with a network of highways, railways, and airports. This makes it easier for businesses to transport goods and access markets within Bulgaria and beyond.

Market Access: Bulgaria is a member of the European Union, which provides businesses with access to the world's largest single market. This is a significant advantage over many African countries, which may have limited market access and higher trade barriers.

Favourable Business Environment: Bulgaria offers a favourable business environment with a range of incentives and support measures for businesses, including tax breaks, grants, and access to EU funding.

Low Cost of Living: Bulgaria has a low cost of living compared to many African countries, which can make it easier and more affordable for businesses to attract and retain employees. Additionally, lower living costs can reduce overall business expenses and increase profitability.

According to the World Bank's Doing Business 2022 report, Bulgaria ranks 59th out of 190 countries in terms of ease of doing business, while many African countries rank much lower on the list. Additionally, Bulgaria's corporate tax rate of 10% is much lower than the average corporate tax rate in Africa, which is around 28%. Finally, Bulgaria's GDP per capita is more than double the average GDP per capita of African countries.

Favourable Corporate Tax Rates: Bulgaria has a corporate tax rate of 10%, which is significantly lower than India's corporate tax rate of 25%. This can lead to substantial cost savings for businesses in Bulgaria.

Strong IT Industry: Bulgaria has a thriving IT industry and is quickly becoming a hub for outsourcing and offshoring. The country has a large pool of highly skilled IT professionals who are fluent in English and other European languages.

EU Membership: Bulgaria is a member of the European Union, which provides businesses with access to the world's largest market. This can be a significant advantage when it comes to expanding and growing a business.

Low Cost of Living: The cost of living in Bulgaria is lower than in India, which can lead to substantial cost savings for businesses that choose to establish a subsidiary or outsource their operations.

Geographic Location: Bulgaria's strategic location at the crossroads of Europe and Asia provides businesses with easy access to both markets. This can be a significant advantage for businesses that want to expand their operations globally.

Political Stability: Bulgaria has a stable political environment, with a democratic system of government and a well-established legal system. This can provide businesses with a high level of certainty and stability when it comes to making investments and conducting business operations.

Easy Business Setup: Bulgaria has ScaleUp (us) for setting up a business, with minimal bureaucracy and red tape. This can make it easier and faster for businesses to establish a subsidiary or start operating in the country.

Overall, Bulgaria offers several advantages for businesses looking to establish a subsidiary or expand their operations. With its low tax rates, strong IT industry, EU membership, low cost of living, strategic location, political stability, and easy business setup, Bulgaria is becoming an increasingly attractive destination for businesses looking to grow and succeed in today's global economy.