| Cost of living in Bulgaria |
  
Frequently Asked Questions
Q: Is it expensive in Bulgaria?
A: Visitors from Western Europe and America find prices in Bulgaria 2-3 times cheaper. For example a beer is about £ 0.35 a bottle of excellent red wine is £ 2 a dinner in good restaurant is £ 4 a person. Craft souvenirs, textile, shoes etc. are also good purchase but be careful not to mix them with the cheaper and low quality Turkish imitations.
Q: What is the current average salary in Bulgaria? In which fields are the greatest salaries?
A: By national Statistical Institute average Bulgarian salary (legal) for September 2006 is 363 BGN (around £123). This is with 39 BGN more than January 2006. The high level of salary for September is in field of financial brokerage (approximately1458 BGN or £518 per month).
Q: What are the living costs in Bulgaria? How much one pays for house insurance, gas, electricity, local and national taxes, to hire a gardener or a builder, to drive a car?
A: It's not possible to compare living costs in Bulgaria and Western Europe. Living costs in Bulgaria are extremely low! For example the food is generally twice even three times cheaper than UK. House insurance: around £68 – £135 per year depending on the type of house. For example a property of price range between £25 000to £55 000 insurance against theft, flood and fire and weather disasters costs about £90 to £130 per year with a decent insurance company like Allianz. Gas: the gas system network is not developed in Bulgaria yet. For now just few Bulgarian towns have the gas central heating system developed. People there mostly use electricity. For example monthly costs for a 2-bedroom apartment the cost for heating and domestic uses is around £82. In the small places people use charcoal and wood, which is much cheaper way to heat a house. For electricity, when used for cooking, light or hot water only one pays around £20 monthly. Local and national taxes for owning a property are depending on the place where the property is located. The most expensive area is the capital Sofia, where the annual taxes of 2-bedroom apartment are around £102 per year, but the rest of the country is around £80 per year.
To employ a gardener or maintenance man or builder you will not pay much. The average salary in Bulgaria is £140 per month.
Q: What are Currency regulations for import and export?
A: Foreigners may export and import Bulgarian banknotes and coins in circulation to the amount of up to BGN 10,000 (about 3500 GBP). Sums exceeding this amount may be imported and exported only with a permit by the BNB (Bulgarian National Bank), valid for a period of up to 90 days of its issuance date.
The foreign persons may export convertible (hard) currency in amounts that do not exceed the amount of the foreign currency they had imported and declared. They can import unlimited amounts of foreign currency, which is to be declared.
Upon crossing the state borderline of the Republic of Bulgaria passengers may import and export commodities that in type, quantities, and value are not of a commercial nature. These do not include objects the passenger carry for personal use and consumption objects.
Exchange controls are the responsibility of the Bulgarian National Bank (BNB). The Bulgarian Leva is pegged to the Euro, and enjoys local convertibility. The export of Leva is prohibited, but foreign businesses can repatriate profits and capital in foreign currency. Companies can maintain both Leva and foreign currency bank accounts. Currency exchange can be affected through either the Commercial Banks or the Bureau de Change.
Import controls - Most goods can be imported into Bulgaria without restriction. All exports to Bulgaria are subject to pre-shipment inspection.
Q: What kind of tax I owe for my property in Bulgaria?
A: Amount of taxes and fees varies from the place where the property is located in Bulgaria. For the properties owners there are 2 kinds of tax - property tax (is paid annually based on 0.15% of the property value - the valuation is made from tax department and is different from market price) and annual fee for garbage transportation (it is calculated based on value of the property and depends of place and municipality - vary from 1.6 to 5 per 1000). If you have a and - this mean you have registered company there in Bulgaria. In this case you must declare activity and incoming (and taxes if you have incoming) to the end of March!
Q: What is the maximal amount of money I can bring with me when I pass the Bulgarian custom?
A: Please note that foreign currency more of than 4000 euros must be declared at customs offices on arrival. Failing to do so may result in confiscation. There is no limitation on the amount of money that you may bring with you, but they must be declared if they are more than 4000 euros.
Q: Are credit and debit cards widely used?
A: No, in big shops and hotels, you would not have a problem paying by credit card (Visa, MasterCard, American Express, Diners Club, Access and Airplus), however in small restaurants and shops it is advisable to have cash in hand.
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