Why Bulgaria is a Top Choice for New Businesses: Low Taxes and Qualified Labor
Bulgaria is emerging as a top destination for starting a new business, praised for its favorable conditions
In a momentous announcement on December 30, the Spanish Presidency of the Council of the EU confirmed Bulgaria and Romania's entrance into the Schengen area through air and sea routes, effective March 31, 2024. This landmark decision, made unanimously via written procedure, signals a significant step toward streamlined travel between these nations and Schengen member states.
The agreement, achieved after intensive negotiations among Austria, Bulgaria, Romania, and with the backing of the European Commission, reflects a pivotal development. While the decision encompasses air and sea borders, a subsequent determination regarding the lifting of land border controls is anticipated to be finalized later in 2024.
Sources of the Bulgarian media "Club Z" attribute the success of this decision to Madrid's unwavering resolve in resolving discrepancies and reaching a consensus, terming the move as historic despite not constituting full-fledged entry into the Schengen zone.
This decision marks a restorative measure after nearly 28 years, notably harking back to Spain's presidency in the second half of 1995 when Bulgaria found itself on the EU's "List 101," comprising 101 high-risk countries.
Per the Council's decision, from March 31, 2024, no checks will be conducted on individuals at internal air and sea borders between Bulgaria, Romania, and other Schengen countries. This significant date coincides with the transition from the winter to summer timetable set by the International Air Transport Association (IATA).
The official finalization of this decision, set to be published shortly in the Official Journal of the EU, will grant Bulgaria access to the Schengen Information System (SIS), an important diplomatic development shared by Brussels-based diplomats.
Dismissing recent misinformation, Bulgaria clarified that it does not accept additional refugee-related conditions from Syria and Afghanistan. The government press service emphasized Bulgaria's commitment to cooperating with Austria and Romania to manage secondary movements in accordance with European regulations. This includes strict adherence to the Dublin Regulation and the readmission of individuals seeking international protection for whom Bulgaria holds responsibility.
The European Commission commended the unanimous decision by member countries to welcome Romania and Bulgaria into the Schengen area via air and sea routes. Commission President Ursula von der Leyen hailed this move as historic, highlighting the ease of travel for citizens and the strengthened internal market within the Schengen area.
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