Bulgaria, a land of rich culture and folklore, is a developing country in the south-eastern part of Europe, with an upper-middle income economy. A part of the European Single Market, the prominent sectors are service and industry. The private sector contributes more than 70% of Bulgarian GDP. In 2021, Bulgaria ranked 35th in the Global Innovation Index published by the World Intellectual Property Organization (WIPO) for the innovative accomplishments of the country.
Major economic hubs:
Sofia, Plovdiv
Skills in demand:
Professionals, Skilled workers
Local Universities
The top local universities in Bulgaria are as follows:
Sofia University St. Kliment Ohridski
Ranking
Local: 1
World: 942
New Bulgarian University
Ranking
Local: 2
World: 1953
Technical University of Sofia
Ranking
Local: 3
World: 3151
Medical University-Varna
Ranking
Local: 4
World: 3723
American University in Bulgaria
Ranking
Local: 5
World: 3833
Salary Data
The table mentions the average annual salary in Bulgaria
According to Bulgarian labor law, employees are classified into three categories – one, two, and three. The third category is the most popular and has favorable working conditions. The Council of Ministers does the segregation of employees.
Employee Contract
Employment contracts signed by both employer and employee can be in any language. However, the Bulgarian authorities can request a copy of the Bulgarian translation (if needed).
Probation period
In Bulgaria, the probation period is up to six months.
Public and Provincial Holidays 2023
Date
Name
Type
1 Jan
New Year’s Day
National holiday
2 Jan
Day off for New Year’s Day
National holiday
3 Mar
Liberation Day
National holiday
14 Apr
Good Friday
National holiday
15 Apr
Holy Saturday
National holiday
16 Apr
Easter Sunday
National holiday
17 Apr
Easter Monday
National holiday
1 May
Labor Day
National holiday
6 May
St. George’s Day / Army Day
National holiday
8 May
St. George’s Day / Holiday
National holiday
24 May
Culture and Literacy Day
National holiday
6 Sep
Unification Day
National holiday
22 Sep
Independence Day
National holiday
1 Nov
Day of the Bulgarian Enlighteners
National holiday
24 Dec
Christmas Eve
National holiday
25 Dec
Christmas Day
National holiday
26 Dec
Second day of Christmas
National holiday
27 Dec
Christmas holiday
National holiday
Employee Leaves
Type of leave
Time Period
Mandatory
Annual leave/Earned Leave
20 days
Yes
Sick Leave
18 Months
Yes
Maternity Leave
410 days
Yes
Payroll
Payroll Cycle
In Bulgaria, payroll is managed every month, with salaries paid on the last working day of each month.
Minimum Wage
As of 2022, the minimum wage for employees in Bulgaria is 363 EUR or 710 BGN.
Overtime Pay
Work done beyond normal hours is compensated as per the mutually accepted employment contract. Also, there are maximum limits put in terms of working hours for the extra.
Employers have to make the following contributions to every employee they maintain.
Type of Contribution
Contribution
Social Security
14.12% – 14.82%
Health Insurance
4.80%
Employee Payroll Tax:
Every employee is entitled to a monthly salary, from which the following contributions will be made.
Type of Contribution
Contribution
Social Security
10.52%
Health Insurance
3.2%
Employee Income Tax:
In Bulgaria, the income earned is taxed at a flat rate. Tax residents have to pay for their worldwide income, while non-residents only pay for their income sourced from Bulgaria.
Bulgaria maintains a standard process for termination based on the reasons listed in the labor law. The termination notice must be communicated in writing and sent to relevant government departments.
The pay varies based on the termination type, but severance pay is mandatory when applicable. The amount of severance should not be less than four months’ gross salary and has to be paid no later than seven days after the termination.
Visa and Immigration
The essential documents to obtain if you are planning to work in Bulgaria:
Work Permit
Type D Visa
Residence Permit
Streamline payroll and compliance for your international workforce