Could Bulgaria be a tax haven for landlords?

by Readers Question

7:02 AM, 20th August 2018
About 3 months ago

Could Bulgaria be a tax haven for landlords?

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Could Bulgaria be a tax haven for landlords?

As I understand it, both the corporation tax rate and the income tax rate in Bulgaria is fixed at 10%, the lowest in Europe.

In addition to looking into becoming non-resident, by moving to Bulgaria, I have also been exploring incorporation relief. I cannot see anything in the HMRC manuals that says I can’t incorporate into a Bulgarian company and still claim it. Am I missing something?

If anybody else has looked into this, or better still actually done it, then I would very much like to hear from you.

Just in case you are wondering why Bulgaria, aside from the possible tax advantages, I already own a holiday home and a couple of investment properties there. When it was fashionable to buy abroad and the market was at it’s peak, that’s when I jumped in. If only I had known then what I know now! The property prices have since crashed and if I were to sell them I would lose a fortune. That said, I thought I had done my due diligence when I purchased the properties and I did go over to Bulgaria several times, and have been doing so ever since. It is a stunningly beautiful Country and I could see myself living there if there were other advantages for doing so.

Please forgive me for remaining anonymous, I am not even a member and do not intend to be because I cannot envisage that I will ever post comments. However, I do regularly visit the website to read the News and forums and I am genuinely interested in any feedback on the questions I have raised here, regardless of whether it is positive or negative. Hopefully my questions will still be published despite the fact I’m not a member, because I cannot possibly be the only UK landlord to have invested into Bulgaria and considered living there.

Thanks in advance

Anonymous



Comments

Neil Patterson

9:39 AM, 20th August 2018
About 3 months ago

Hi, I have not had any tax questions before on Bulgaria, but hopefully some readers will be able to help as I know it has been a popular place to invest in the past.

blair

10:03 AM, 20th August 2018
About 3 months ago

I think you have some strange logic. You should become a member for the little it costs. Yes most of us just read the articles and others comments but that is still using the site. Its not a lot of money I suggest you join

david porter

10:14 AM, 20th August 2018
About 3 months ago

Bulgaria
was a Womble.


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