Bulgaria vs the rest of the EU

Germany is a great market — but a terrible holding jurisdiction. Bulgaria delivers the same EU passport at roughly a third of the effective tax burden, with setup measured in days.

The Netherlands earned its reputation as a holding hub in a different tax era. For operating EU SMEs in 2026, Bulgaria delivers materially better economics with less compliance.

Ireland remains attractive for IP-heavy multinationals. For everyone else — especially bootstrapped SaaS and consulting — Bulgaria delivers a lower headline rate and dramatically lower operating costs.

Portugal was the founder's darling 2020–2023. With NHR gone and the corporate rate still at 21%, Bulgaria has overtaken it as the most efficient EU operating jurisdiction.

Romania's micro regime can beat Bulgaria for tiny businesses, but eligibility keeps narrowing. Above €100K turnover, Bulgaria is materially cheaper and more predictable.

Malta's headline rate is misleading. After substance costs and refund timing, Bulgaria's straightforward 10% wins for almost every SME.

Post-Brexit, a UK Ltd is a third-country entity for EU purposes. If you sell across the EU, Bulgaria gives you the passport at less than half the tax rate.

Cyprus wins for IP-licensing structures and personal non-dom planning. For an operating company with active trading income, Bulgaria is cheaper and simpler.