Bulgaria Cuts Twice Threshold for Investor Certificates

Business » FINANCE | March 4, 2009, Wednesday // 00:00

First-class investor certificates, the highest investor rank in Bulgaria, will be awarded to companies with a minimum investment volume of BGN 32 million, not BGN 70 million, the government decided on Wednesday.

The investment volume for a second-class investor certificate is decreased from BGN 40 million to BGN 16 million.

Investors in municipalities, whose unemployment rates are equal or higher than the average for the country, will land first-class certificates and be promoted by means of various measures if they make an investment of at least BGN 16 million, down by at least BGN 20 million from the current levels.

The investment volume for a second-class investor certificate in these municipalities goes down from BGN 20 -25 million to BGN 8 million.

The government said that the cut in the threshold by more than two times will help create new jobs, fuel the economic development and reduce differences between regions across the country.

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