Planning to move to Bulgaria

Last activity 14 August 2022 by Guest7632

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Denny_HMember19 July 2022 16:14:55

Hi guys! I planning to move to Bulgaria sometime next year, and I would love to meet some people all around Bulgaria as I don't have a fixed location where I want to go yet! I'm a Bosniak, living in Germany since 2019 and I want to move out of here because I hate it with passion, this country is awful, I just want to go back to countries similar to mine!

Guest7632Guest19 July 2022 16:39:19

214245

Welcome Denny_H

I find the Rodope Mountains around Kardzhali to be very similar to Bosnia.

Look it up, the area is very beautiful.

Another similarity to Bosnia is the Lev being in a currency board with Euro like your Convertible Marks.

BG and BiH and are the only two countries in Europe with this arrangement.

There probably many more similarities. I hope you find somewhere nice.

Denny_HMember19 July 2022 18:35:46

@GB_2_BG Thanks a lot! I meant to say similar as in like people have similar mindsets and so on, I love how Bulgarian women are and how people as a whole act, they're awesome and it reminds me a lot of Bosnia, as of where I would live, I think Sofia, Primorie and Varna are my favorites

wtruckyboySerial expat19 July 2022 21:12:59

209

Well.once you tell us where you have bought..or living..then we can tell you.

Pomorie is where i live..the area is seasonal..not much work. So you have to think of your options.

How will you live or afford to

What is your trade etc..etc

Sofia probably has all that you need.work..social life etc..

But good luck in what you choose.

Denny_HMember20 July 2022 04:33:05

@wtruckyboy No worries with that, I make a lot of money so I can live basically in any country in the world, I like Bulgaria a lot for its taxes, 10% tax rate seems lovely, much better than German 35%

Guest7632Guest20 July 2022 13:48:51

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Denny_H if you have a company your dividends are taxed at only 5%.

I think that must be the lowest rate you can find without going offshore.

gwynjBulgaria Expert20 July 2022 17:24:07

2266

If you're making the big bucks already, then you can probably live a very nice life here. The low tax rate will be very beneficial. Bulgaria has a flat rate tax of only 10% which applies to both personal income tax (if employed / self-employed) or corporate income tax (if you incorporate a Bulgarian company for 300 euros or so).

I'm not sure about German rates, but I think personal income tax is income-related rising to 45%.

Plus, the German social security contributions are significant too (pension, unemployment, health, long term care). According to PWC, this is a big chunk of 40% (roughly 20% from employee, same from employer). The equivalent in Bulgaria is more like 25% (11% employee, 15% employer). I registered here as unemployed and I pay 13 euros a month, which is peanuts (and it gets me free state healthcare, subsidized private healthcare, and a Bulgarian EHIC for use throughout Europe).

But the very low cost of living is very helpful too, and shouldn't be overlooked. The official minimum wage in Bulgaria was recently raised to 360 euros per month. I think Germany just approved 12 euros/hr, which comes in closer to 2k euros. That's a steep differential of around 5:1, so you'd expect living costs to be much lower here.

I'd estimate the cost of living is actually 2 or 3 times higher in a large German city vs. one of the larger Bulgarian cities (Sofia, Plovdiv, Burgas, Varna). But that's aside from property costs, where you'll find new apartments here being sold at 1,300 euros ish per m2... a fraction of the cost in a major German city. Even if you don't want to buy, that cost differencial translates into much higher rents.

BamboozlerActive member14 August 2022 12:20:19

@GB_2_BG hope it's okay to jump in here, but do you have to pay social security contributions on dividend income? Many thanks

Guest7632Guest14 August 2022 21:02:08

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@Bamboozler no they are based on your salary if you have one.

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