Infographic: How To Start Your Startup In Varna

Don’t miss the complete Varna Startup City Guide!

Longing for a beach and some sun while working on founding your startup? Bulgaria’s Varna might be the spot for you! While you might not expect it, there’s a ton of startups working from the Black Sea Cost to establish their company and get their products on the market.

Varna is the largest city and seaside resort on the  Bulgarian Black Sea Coast and the 3rd largest city in Bulgaria. The city is often referred to as the marine or summer capital of Bulgaria, making it a major tourist destination. But the city also scores more points as it is a business and university center and home to the Bulgarian Navy and merchant marine.

Ups & Downs Of Varna

Let’s start off with the most important part: the solid startup community. Varna has many creative places where dynamic and motivated people meet to exchange ideas and develop their ideas. The education level can be compared to other cities in the region, namely Bucharest, Athens, Zagreb, or Cluj among others.

When talking about Varna’s ups we definitely have to mention the low living & housing costs compared to major startup capitals like Berlin or London; renting an office is especially cheap at 400 Euros a month.

The high number of freelancers results in Varna being one of the top destinations to outsource. But that’s by far not the last advantage the city offers: corporate tax is 10%, additionally a lack of competitors and open markets with a low entry barrier conclude the Bulgarian market to be attractive for testing MVPs.

Although Varna has great advantages, there are some downsides like a VAT of 20%, quite a lot of bureaucracy, and (still) a lack of investment opportunities. Yet, startups active in the city prove these challenges to be manageable.

If you’re still as excited about Varna as we are, find out all about the startup ecosystem below:

 

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