Getting Started

1.    Visit the export.gov page on Bulgaria to get an overview of economic conditions and opportunities.  Access the U.S. Commercial Service Market Research Library containing more than 100,000 industry and country-specific market reports, authored by our specialists working in overseas posts.

The Library Includes:  

• Country Commercial Guides (read latest “Doing Business In” guides)
• Industry Overviews
• Market Updates
• Multilateral Development Bank Reports
• Best Markets
• Industry/Regional Reports

2.    Contact your local U.S. Export Assistance Center for advice and support on exporting to Bulgaria. Contact a Trade Specialist Near You

3.    Contact your local Small Business Development Center (SBDCs). Starting a business can be a challenge, but there is help for you in your area. Small Business Development Centers (SBDCs) are partnerships primarily between the government and colleges/universities administered by the Small Business Administration and aims at giving educational services for small business owners and aspiring entrepreneurs.

4.    Contact in-country business support organizations such as the American Chamber of Commerce in Bulgaria

5.    Make use of business matchmaking services
 
Investing in Bulgaria

This section provides information for current and potential investors in Bulgaria.

Potential investors: Getting Started.

If you are considering investment in Bulgaria here are some steps you may wish to consider as you get started:

• Register with the U.S. Embassy – If you are planning a visit to consider investment, let us know by sending an email to the contact addresses on this page.
• Contact local U.S. business support organizations, such as the American Chamber of Commerce in Bulgaria
• Subscribe to our Embassy Facebook page or Twitterfeed
• You may check the Bulgaria 2012 Country Commercial Guide as well as some available Sources of Financing.

Current investors: Staying Connected.

If you are a current U.S. investor in Bulgaria the U.S Embassy wants to stay in touch. Here are a few steps you can take to keep the channels of communication open:

Register with the U.S. Embassy – If you are active in Bulgaria let us know by sending an email to the contact addresses on this page.

• Add us to your mailing lists – we are always happy to stay informed
• Subscribe to our Embassy Facebook page or Twitter feed
• Set up a meeting with our economic or commercial team to discuss any issues that arise

 
Travel Advisories

Make sure to check the current State Department travel advisory for Bulgaria

FCPA

The Foreign Corrupt Practices Act (FCPA) is an important anti-corruption tool designed to discourage corrupt business practices in favor of free and fair markets.  The FCPA prohibits promising, offering, giving or authorizing giving anything of value to a foreign government official where the purpose is to obtain or retain business.  These prohibitions apply to U.S. persons, both individuals and companies, and companies that are listed on U.S. exchanges. The statute also requires companies publicly traded in the U.S. to keep accurate books and records and implement appropriate internal controls.  

More information on the FCPA: 

A party to a transaction seeking to know whether a proposed course of conduct would violate the FCPA can take advantage of the opinion procedure established by the statue.  Within 30 days of receiving a description of a proposed course of conduct in writing, the Attorney General will provide the party with a written opinion on whether the proposed conduct would violate the FCPA.  Not only do opinions provide the requesting party with a rebuttable presumption that the conduct does not violate the FCPA, but DOJ publishes past opinions which can provide guidance for other companies facing similar situations.

Treaty for Avoidance of Double Taxation

A Treaty for Avoidance of Double Taxation (TADT) between the United States and Bulgaria was signed in Washington D.C. on February 23, 2007, by the Minister of Finance of Bulgaria Plamen Oresharski and the Deputy Secretary of the U.S. Department of Treasury, Robert M. Kimmitt.  The two sides are now negotiating language for an additional protocol that will accompany the treaty.  Once this has been agreed, the Treaty and protocol must undergo formal ratification procedures in both the U.S. Senate and the Parliament of Bulgaria.  Once ratified, they will take effect on January 1 of the following year.   

The TADT applies to direct taxes only and excludes indirect levies, such as value-added and excise taxes, as well as all social contributions.  TADT applies to all sources of income that residents of either state have received "at source" in the other state.  The TADT will reduce the tax burden for residents of both states, which will stimulate cross-border trade and investment.  

For more information about the tax benefits offered by the Treaty for Avoidance of Double Taxation and for answers to frequently asked questions, please see www.irs.gov/publications/p54/ch06.html.  To view the text of the U.S.-Bulgaria treaty, please see www.treas.gov/offices/tax-policy/treaties.shtml.

If you have additional questions about the treaty, please send them to: sofia@usembassy.bg