About Bulgaria
Facts about Bulgaria
Officially the Republic of Bulgaria, is a country on the Balkan Peninsula, in Eastern Europe. It borders the Black Sea to the east, Greece and Turkey to the south, Serbia and the Republic of Macedonia to the west, and Romania to the north, mostly along the Danube. Bulgaria also shares a maritime border with Turkey, Romania, Ukraine, Russia, and Georgia.
The capital of Bulgaria is Sofia. Bulgaria is a country with an ancient history dating back to prehistoric times, the Thracian, Greek and Roman worlds of antiquity and the powerful Bulgarian Empire of the Middle Ages founded in 681.
Geographically and climatically, Bulgaria is noted for its diversity, with the landscape ranging from the Alpine snow-capped peaks in Rila, Pirin and the Balkan Mountains to the mild and sunny weather of the Black Sea coast, from the typically continental Danubian Plain (ancient Moesia) in the north to the strong Mediterranean influence in the valleys of Macedonia and the lowlands in the southernmost parts of Thrace.
Bulgaria joined NATO on March 29, 2004 and the European Union on January 1, 2007. The country has been a member of the United Nations since 1955, and is a founding member of OSCE. As a Consultative Party to the Antarctic Treaty, Bulgaria takes part in the governing of the territories situated south of 60° south latitude.
Politics of Bulgaria takes place in a framework of a parliamentary representative democratic republic, whereby the Chairman of the Council of Ministers is the head of government, and of a pluriform multi-party system. Executive power is exercised by the government. Legislative power is vested in both the government and the National Assembly. Since 1990 Bulgaria has an stable party system, wherein nowadays the post-communist social democratic Bulgarian Socialist Party and the personalist liberal National Movement Simeon II are dominant. The Judiciary is independent of the executive and the legislature. The U.S. Freedom House rates the country with a 1 on political rights and with a 2 on civil rights (on a scale of 1 to 7 whereas 1 is the most free). Freedom House considers Bulgaria to be a free country.
General Information:
Area: 110,994 sq. km.
Population: 7,845,499
Density: 70.7 per sq. km.
Capital: Sofia (1, 200,000 inhabitants)
Government: Parliamentary Republic
Languages: Bulgarian
Alphabet: Cyrillic
Religion: Bulgarian Orthodox (83, 5%), Muslim (13%), Roman Catholic (1, 5%), Jewish (0, 8%)
Monetary unit: Lev (BGN); 1 Lev = 100 stotinkiNotes: Lev: 2, 5, 10, 20, 50, 100
Coins: Stotinki: 1, 2, 5, 10, 50
Time zone: GMT (London) + 2 hours, East-European time (Germany) + 1 hour
Measures and scales: metric system
International dialling code: +359
Electricity: 220 V, 50 Hz
Membership of international groupings/ organisations:
European Union (EU)
Council of Europe (COE)
European Organisation for Nuclear Research (CERN)
Euro-Atlantic Partnership Council (EAPC)
European Bank of Reconstruction and Development (EBRD)
International Bank for Reconstruction and Development (IBRD)
International Hydrographic Organisation (IHO) (pending member)
International Labour Organisation (ILO), International Monetary Fund (IMF)
Organisation for Co-operation and Security in Europe (OSCE)
North Atlantic Treaty Organisation (NATO)
World Health Organisation (WHO)
World Intellectual Property Organisation (WIPO)
World Meteorological Organisation (WMO)
World Trade Organisation (WTO)
Climate:
Continental to Mediterranean in the South parts of the country. Average temperatures during January vary from -2 to 2 degrees centigrade in the valleys to - 10 degrees centigrade in the mountains. Average temperatures for June vary from 19-25 degrees centigrade in the valleys to 10 degrees centigrade in the high mountains. Rainfalls are 450-600 mm in the valleys to 1300 mm in the mountains.
Hours of business:
Commercial Offices and Ministries
08.45 or 09.00-12.30 and 13.00-17.30 or 18.00 Monday to Friday.
National Bank and Foreign Trade Bank
08.00-12.00 Monday to Friday.
Official holidays:
January 1st - New Years's Day;
March 3d - National Day (Day of Liberation);
Easter, and the first Monday after Easter;
May 1st - Labour Day;
May 6th - Gergyovden, and the Bulgarian Military Army's Day;
May 24th - St Cyril and Methodius Day (Cyrillic Alphabet Day);
September 6th - Unification Day;
September 22d - Independence Day;
November 1st - National Day of the Bulgarian Revival Leaders;
December 24,25,26 - Christmas Days.
Entering the country:
Passports/visas Bulgaria is now an EU member, therefore EU citizens rules apply. Rules for issuing work permits are set in the Ordinance of the Council of Ministers No. 267 from December 30, 1992. Foreigners who stay or intend to stay longer than six months may acquire permission for temporary residence for up to one year which may also be extended. Any foreigner wishing to stay on the basis of an employment contract must acquire a work permit from the local Labour Office. The list of the countries 'Countries and territories whose citizens require visas in order to enter Bulgaria, is available at http://www.mfe.government.bg/
Passports: Passport with at least one blank page valid for at least three months beyond departure required by all.
Visas: Required by all except the following:
Nationals of EU countries for stays of up to 90 days within each six-month period (except nationals of Estonia, Ireland and the UK, who may stay for up to 30 days within a six-month period);
Note: UK nationals living overseas do need a visa.
Nationals of Chile, Iceland, Malaysia and Norway for stays of up to 90 days within a six-month period;
Nationals of Andorra, Australia, Canada, Israel, Japan, Liechtenstein, Monaco, New Zealand, Switzerland, USA and Vatican City for stays of up to 30 days within each six-month period;
Nationals of Croatia, Korea (Rep), Macedonia, Romania, San Marino and Tunisia. Foreigners who stay or intend to stay longer than six months may acquire permission for temporary residence for up to one year which may also be extended. Аny foreigner wishing to stay on the basis of an employment contract must acquire a work permit from the local Labour Office.
Note: When entering the Republic of Bulgaria, children must have their own passports.
Custom's formalities and limitations:
Upon crossing the state border of the Republic of Bulgaria passengers may import or export duty free commodities which in type, quantities, and value are not of a commercial nature and personal belongings. Common custom declarations and restrictions are applied for import and export of currency, food, alcohol and goods. There is a special custom regime for antiquarian objects, historic and cultural treasures, medicines, narcotics, weapons, ammunitions.
Money exchange:
There are many exchange bureaux in Bulgaria that normally exchange all major currencies. However, check the rates of exchange before making a transaction where possible, you should change money in banks or in large hotels. If you have travellers' cheques you may need to go to a bank anyway. There is now a large network of ATMs that accept standard international credit and debit cards. Check with your UK bank/card provider whether you will be able to use these machines to draw Leva. Bulgaria is still largely a cash economy. Credit cards are not yet very widely accepted, though they may be used in major hotels and, increasingly, in restaurants and retail outlets. Most accepted are: VISA, Master Card or American Express.
Emergency telephone numbers:
Fire-brigade 160
First aid 150
Police 166
Road assistance 146
Telephone information 144
Traffic police - car accidents +359 2/ 982 72 823, 866 50 60
Telecommunications:
Bulgarian Telecommunications Company (BTC) is the main telecommunication services operator in Bulgaria and the only fix-line operator.
Mobile operators: network operators include М-tel (http://www.mtel.bg/), GloBul (http://www.globul.bg/) and BTC's operator vivatel (http://www.vivatel.bg/).
Internet: Internet services are available throughout the whole country.
Travel information
Airports in Bulgaria:
Sofia airport http://www.sofia-airport.bg/
International Flights - Departures - 937-2211
International Flights - Arrivals - 937-2212
Domestic Flights - +3592) 937-2213
V.I.P - 937-2191
Lost and Found Department - 937-2491
Varna airport http://www.varna-airport.bg/
Tel.: 052/ 500 839, 573 443
Bourgas airport http://www.bourgas-airport.com/
Tel.:056/ 688 078, 684 083, 42 256
Plovdiv airport http://www.plovdivairport.com/
Tel.: 032/ 237 024, 236 570
Sea and river ports in Bulgaria:
Sea port of Varna http://www.port-varna.bg/
Sea port of Bourgas http://www.port-bourgas.com/
River port of Rousse http://www.port-rousse.bg/
River port of Lom http://www.port.lom.bg/
River port of Vidin http://www.port-vd.com/
Railway stations:
Central railway station in Sofia http://www.bdz.bg/
Train timetable - 931 11 11; 932 33 33
Send a parcel - 932 35 55
Receive a parcel - 932 30 42
Lost and found - 932 24 56
Disabled passengers - 920 05 47 ; 932 30 50
International journeys - routes, timetables, fares
The offices of Railway ticket agency "Rila":
e-mail: info@bdz-rila.com
987 07 77 ( 5 Gurko Str. );
865-71-86 (National palace of culture, Transport Service Center);
932 33 46 ( Sofia Central Station )
Bus stations:
Sofia Central bus station http://www.centralnaavtogara.bg/
Sofia, Bulgaria, 100 Kniaginia Maria Luiza Blvd., tel.: +359 900 21000
Varna Central bus station: 052/ 44 83 49; 052/ 44 83 46
Bus station Burgas South: 056/ 842692, West: 056/ 205 21
Gabrovo Central bus station: 066/ 80-55-66
Plovdiv bus station: North: 032/ 953705, South: 032/ 626937
Car rental:
You can rent a car from international rent-a-car companies such as AVIS, Hertz, Budget, Eurocar, etc. Many of the hotels in Bulgaria offer this service through several licensed Bulgarian rent a car companies.
Taxis: taxi cabs are available in every city. However, before catching a cab check the prices, displayed on the right corner of the front window.
Useful Websites:
Search engine for airplane tickets, resorts and hotels in Bulgaria: http//bulgariantour.com/
The National Police Service: http//www.mvr.bg/en
Travel Guide: http//www.bulgariatravel.org
Useful tips for travellers:
When visiting a foreign country it is recommendable to know some basic things concerning the local laws and customs.
Typical specifications:
Body Language
When Bulgarians nod their heads up and down, they usually mean NO. When they move their heads from side to side, they mean YES.
SmokingSmoking regulations in Bulgaria forbid smoking in offices, administrative buildings, the public transport, museums, galleries, cinemas and theaters, as well as in common building areas. All restaurants, bars and cafes have a properly ventilated No Smoking area with at least 40% of the seats. It may take some time before everyone begins to observe this though. It is not allowed to smoke in the.
TippingTipping is of course optional but usually practiced in restaurants, cafes, bars, hairdressers, even taxis. Generally the tip amounts to 15% of the customer's bill.
Police RegistrationIf you're not a EU citizen, make sure that you conform the law regarding the registration of foreigners, as it is being applied with increasing eagerness. Failing to register within 48 hours of arrival can mean heavy fines and other hassles. EU citizens are no longer obliged to register in police offices.
Why to invest in Bulgaria
Bulgaria is now offering some of the best investment opportunities, with profit on off-plan purchase often reaching double price upon completion. The wise investors have already chose Bulgaria for their next projects. There are some reasons why investing in properties in Bulgaria is such a good option. First of all you need to know that the early stage of development in Bulgaria is the best time to invest. The property prices are very low comparing to most other European locations (the Bulgarian capital Sofia is the one of the cheapest European capital to live in). A big advantage of the country is the huge tourism potential. There is 50 % increase of the number of tourists who visited Bulgaria between 2000 and 2004 and another 30 % growth is expected after Bulgaria joined EU. This increase is related to growing amount of foreign direct investment.
The building construction has also improved. Only modern and high - quality materials are used for the new development projects. Two of the main purposes of the building companies are building with minimum environment effect and reaching a high quality standard and design.
Furthermore, Bulgaria is widely considered to be one of the most rapidly developing countries in Europe. The overall development of the country is favoured by the variety of natural and cultural Bulgarian factors. Here you can see a mixture of Thracian and Roman historical and archeological landmarks. This cultural wealth is combined with great natural factors.
Bulgaria is well-known not only as a famous summer destination but as a country which provides great conditions for ski sports. The top Bulgarian ski resorts are Bansko, Pamporovo, Borovets and Vitosha. They are all equipped with high-standard facilities. The Bulgarian Black Sea coast provides 11"Blue Flag" beaches along its 354km length.
All these natural and economic factors and the short flight time to other European countries turn Bulgaria in one of the most attractive options among the wise investors.
Bulgarian Black Sea coast Investment Opportunities
The past few months have seen a flood of media coverage with a focus upon the property bargains to be found in the towns and cities, in rural and village homes, in the ski resorts and at the beaches. The collective message is that Bulgaria is the place to be and the place to buy. And it's all true. There are thousands of genuine property opportunities available throughout Bulgaria and, yes - you can buy a house for the price of a second-hand car. Yes - you can purchase a property with a single transaction on your credit card. But this is only part of the story.
Bulgaria is a country in transition and nowhere is this transition more evident that along the Black Sea coast - the 380 kilometers of craggy headlands, natural dunes, secluded coves and Blue Flag beaches that link Bulgaria with Romania in the north and Turkey in the south. Here, a strategic programme of infrastructure developments, including direct motorway links with the capital, Sofia, the re-construction of the airports at Burgas and Varna and local initiatives such as the Sunny Beach expansion corridors linking the villages of Tankovo and Kosharitsa with the resort, are forming a framework for sustainable capacity growth which, in turn, is re-shaping the real estate market and attracting major injections of both private investment capital and EU funding.
The tourist industry is bringing more than three million visitors a year to the region. Property Developers are following rapidly in their wake and travel agents across Europe now boast the Black Sea as a key destination in their portfolios. Package holidays to the beach resorts are selling better than ever before - in more countries than even before - and travel operators who no longer enjoy the profit levels that they have realized over the past few years in other countries are now looking to Bulgaria for higher margins. This all serves to underpin the long-term future of the area and signals that both capital appreciation and rental yields from quality locations and developments should continue to demonstrate a strong and consistent growth profile.
Holiday homes still top the property buyer's list of priorities. But the current proliferation of commercial tourism projects, world-class hotels, leisure complexes and golf courses is opening up a wave of new longer-term investment opportunities. There is an increasing demand for the continuing development of quality rental properties. And, now, off-plan apartments in good locations, individual buy-to-let properties and plots of regulated land with building status are fast becoming the preferred purchase options for both new buyers and more established investors.
The investment logic is simple. Today, you can buy a two-bedroom luxury apartment by the Black Sea for about 50000, which is less than the average increase in value of a British house during the past three years. And the catch-up in property values is far from over. As house-price bubbles begin to burst in Western Europe, emerging markets such as Bulgaria will remain immune. The rapidly modernizing economy, booming tourism, infrastructure development and rising asset prices are set to keep property values climbing for years to come.
A number of financial and business analysts have also identified the investment opportunities on the Black Sea coast. A recent article from Bloomburg News reports that.....
"In parts of Western Europe and the UK, property process have surged because of historically low interest rate and rising incomes. In many areas of Eastern Europe, though, such as Bulgaria's Black Sea coast and mountain resorts, real estate prices are being driven by rapid economic growth and the need to replace low-quality housing. As people get richer, they spend more money on living somewhere nicer and it may be decades before that process is complete. There is little to make investors feel nervous".
And from the Property Investor and Homebuyer Show...
"Ten years ago no one would consider investing Eastern Europe, but now property in the Eastern Bloc is selling faster than ever. Holidays in countries that have recently joined or will join the European Union are becoming increasingly popular and Bulgaria in particular has experienced a massive property boom. The Black Sea resorts offer sound investment opportunities in quality rental accommodation for holidaymakers looking for relaxing beach holidays, so investors with a long term perspective will secure solid rental yields".
Bulgarian market - lots of possibilities for a wise investment
Properties in Bulgaria went through gigantic growth in their prices during the last several years. This fact can't be hidden from foreign investors. Some 10 years ago Bulgaria was a country where investing was a risky process. There were several factors that seized foreign companies to put their funds in our country's economy branches. Now this period of uncertainty went down in history.
What can be said about the present and the last several years is that the progress of Bulgarian economy and the development of its property market were seen by contractors and wise investors. After the rapid growth of investment property market Bulgaria still has what to offer and lots of possibilities to develop.
The prosperity of every country is based on its economy, tourism, direct investments and employment. After the year of 1996 Bulgaria took the road of economy stability and strong development due to the quick financial reforms, responsible fiscal policy and the Bulgarian Lev bound to the Euro. All of these features formed an excellent basis for investments and growth in the property segment of the market. The low inflation and the gradually building and modernization of infrastructure improved our image in investors' eyes who decided to invest here, in Bulgaria.
According to statistic data average salaries in Bulgaria have increased considerably in the last 3-5 years. Bulgaria's joining to the European Union in January 2007 is an important step for the opening of the country for the European market and the coming 4.6 billion euros for the period of 2007 - 2009.
All these facts are good news for the investors especially after the country makes good progress in the number of tourists visited Bulgaria. Researches show that the new EU member has 22 % annual increase in tourist sector. What's more there are expectations for bigger growth for the next few years.
Daily Telegraph newspaper scores Bulgaria with 8/10 (80%) according to its investment potential. Bulgaria is expected to be one of the most popular tourist destinations for 2007.
Bulgaria's investor market is expected to develop during the following years. The development of the tourist sector means growth of the quantity of capital put into the country's economy. Bulgaria has a variety of choices to offer to the fastidious tourists so progress in the inventors' market is the expected trend of things to follow.