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> I researched Bulgarian market when we were looking for a place to open an EU branch. Which EU country did you end up choosing, if you don't mind me asking? O

• baybal2 8y ago
  Germany, as one of our C-levels was German. Despite of all taxes, bureaucracy, scarce microelectronics talent. All that wasn't as important as the ease of initial setup. For top five, those were your expected Eastern European countries strong in programming: Poland, Czechia, Slovakia, Bulgaria. In the end, purely going there for tax advantage didn't worth the effort. We calculated that net difference for an office of 5~7 people was no more than 17% as long as we repatriated the revenue. All our senior staff has contracts with fixed net income exactly because we expected that they will be moving around a lot. Were they to receive their net salary in Bulgaria as regular salaried employees, their net tax would be approaching 50%. There, we would be clearly not gaining much over Germany, even if we were to include corporate tax into calculation.