Bulgaria: providing business opportunities in Central Eastern Europe

A top destination for business growth

Why Bulgaria?

The 2016 Global Competitiveness Report ranked Bulgaria as an emerging and developing economy, making it one of the most attractive business destinations in Central Eastern Europe. With its competitive labour costs and the most favourable tax regime in Europe, Bulgaria is fast becoming a top destination for business growth. Bulgaria has a network of international highways and four main airports allowing for easy access and business relations with Western Europe, Russia, Asia Minor, the Adriatic, the Aegean and the Black Sea.

In 2022 TMF Group acquired NOVACON, a leading and respected payroll and accounting consulting company based in Sofia. The acquisition represents a key milestone for the development of TMF Bulgaria, leveraging the expertise of the senior management team to expand its coverage in the country and region.

Our core areas of expertise

The TMF Group in Bulgaria has a strong and experienced team of professionals, specialising in accounting, law, tax, payroll and HR serving clients locally and internationally. We have operated in Bulgaria for 25 years, providing both local and international clients with a full range of corporate services including risk reduction, compliance, cost control and simplifying operations.

Our specialist team work closely with clients to understand and address their individual needs and requirements. We actively propose solutions and have a strong focus on processes and controls to ensure that we operate to high standards of integrity and professionalism in order to help businesses to grow and succeed.

The TMF team in Bulgaria is comprised of more than 100 employees combining international experience, local knowledge and broad professional expertise. Many hold the ACCA qualification or are admitted to the Sofia Bar Association. Our accountants, payroll specialists and lawyers work closely with our clients to ensure the best performance, which is key to success in the ever-changing Bulgarian business environment. Our client portfolio includes both international and multinational companies operating in a variety of industries and sectors.

TMF Bulgaria is an active member of leading business organisations including The American Chamber of Commerce in Bulgaria, British Bulgarian Business Association, German Bulgarian Chamber of Industry and Commerce and Bulgarian Business Leaders Forum.

Our full range of services include:

  • Accounting and Tax services: We take care of local statutory bookkeeping, full consolidated accounts and management reporting to relevant local and international standards. We also help you manage your tax and reporting obligations.
  • Global Entity Management services: We provide support at every stage of your business lifecycle. Our multi-disciplinary expertise - in corporate secretarial, regulatory compliance, fiduciary services and more - is your outsourced answer to managing and maintaining entities across borders.
  • HR and Payroll services: We help you to apply and implement international policies in employment contracts and handbooks, and pay your staff in compliance with local law.

Our expert team in Bulgaria have the skills and expertise to help your business succeed. To find out more about how we can work with you to achieve business success, please contact us.

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