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Hire a remote team in Bulgaria

Hiring a remote team in a country as Bulgaria comes with a lot of overhead, such as compliance, local laws, taxes, etc. As a company, you don't want to worry about knowing all the local laws. Instead you want to focus on your remote team and the business. Rivermate's Employer of Record (EOR) solution helps companies hire remote employees in Bulgaria. We take care of global payroll, taxes, benefits, compliance and HR activities. So you can focus on growing your business.

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1. Hire a remote team in Bulgaria with Rivermate

Payroll, benefits, taxes, and compliance can be difficult to manage in Bulgaria, particularly if you don't have established local relationships. You can hire employees in Bulgaria effectively, conveniently, and in full compliance with all relevant labor laws using Rivermate's global Employer of Record (EOR) solution. We handle the responsibilities and legal risks associated with foreign employment so you can concentrate on growing your company.

Table of contents
  1. Hire a remote team with Rivermate
  2. Introduction
  3. Hiring a remote team in your country
  4. Cost of living
  5. Cost of renting
  6. Major industries
  7. Hiring cost
  8. Employment laws
  9. Top skills
  10. Economic landscape
  11. Market size
  12. Minimum wage

2. Introduction

Rivermate is a global employment solutions company that provides Employer of Record services in Bulgaria.As an employer of record, we help you hire employees and run payroll services in Bulgaria, allowing you to avoid the necessity of first establishing a branch office or subsidiary in Bulgaria.It is not necessary to establish an entity in order to hire an employee. We can hire your employee in any country with a few mouse clicks. Using our Employer of Record solution, you can have full compliance, benefits, and automated payments.If you wish to hire a remote team in Bulgaria or individually hire remote employees in Bulgaria, Rivermate’s global employer of record services will make sure that the process will be as seamless as possible for you.Send us a message so we can talk about how Rivermate’s Employer of Record Bulgaria services can best help your company!

3. Hire a remote team in Bulgaria

Bulgaria has a prominent position in global value chains due to its open economy and reputation for exports and value addition businesses. After joining the European Union, this emerging nation has achieved considerable strides in both the industrial and service sectors. The Bulgarian government has implemented reformist efforts to alter the country's educational environment. Employers have noted a constant growth in the population with higher education as a result of this. Previously, the nation lacked the cognitive and digital abilities needed to meet work demands. Today, however, Sofia, the country's capital city, is home to highly talented people attracted from all over the globe for their expertise in software, management, science, and analytics.

4. Cost of living in Bulgaria

Bulgaria's cost of living is $639, which is 1.46 times less costly than the global average. Bulgaria ranks 133rd out of 197 nations in terms of cost of living and 51st in terms of quality of life.In Bulgaria, the average after-tax wage is $750, which is enough to meet living costs for 1.2 months.

5. Cost of renting in Bulgaria

Bulgaria's cost of living is $639, which is 1.46 times less costly than the global average. Bulgaria ranks 133rd out of 197 nations in terms of the cost of living and 51st in terms of quality of life.In Bulgaria, the average after-tax wage is $750, which is enough to meet living costs for 1.2 months.1. The average rent in Bulgaria's T1 cities is between USD 300 and USD 510. 2. The average rent in Bulgaria's T2 cities is between USD 250 and USD 330. 3. Other cities in Bulgaria have a rental rate of between USD 180 and USD 210.

6. Major industries in Bulgaria

Iron, steel, equipment, clothing, and refined fuels are among Bulgaria's significant industrial exports. Another important manufacturing sector is shipbuilding, which is concentrated in cities like as Varna, Sofia, Plovdiv, Ruse, and Pernik.

7. Hiring cost in Bulgaria

Bulgaria is a viable option for firms seeking top personnel, with a high literacy rate and modest wage demands. Its top five cities are also home to highly competent people. Digital and software recruiters are looking to Sofia for top talent. Furthermore, the other cities have a diverse pool of expertise, ranging from managers to seasoned content writers.

8. Employment laws Bulgaria

Bulgaria, being a member of the European Union, currently follows EU standards for all companies and employees. The Employment Contracts Act and the Collective Agreements Act of 1936 are two more major regulations governing employment in Bulgaria. They define the provisions of the Labor Code as a whole. This law governs labor relations, contract terms, general working conditions, and the minimal standards of the Bulgarian government to safeguard its workers.

9. Top skills Bulgaria

Almost everyone in Bulgaria has completed formal education, with a literacy rate of over 98% among the working population. However, the number of university graduates with higher education is concentrated in cities. Sofia has the greatest concentration of highly educated and gifted people. Technical, social media, and marketing abilities are among the most sought-after by companies in Bulgaria. The following are some of the best skills in the nation.1. Digital2. Social Media3. Blockchain Development4. Software 5. Administration6. Digital Product Designing - UX/UI Designer7. Engineering8. Medical9. Architecture10. Data Mining11. Teaching12. Content writing, Copy-writing13. ConsultancyFrom 1990, Bulgaria started to invest more in skilling its youth. This step opened up many opportunities in the public-funded sectors like the Government, Education, and Healthcare. With increased literacy levels, university education, and internet access, the country’s urban population excelled in offering high-value-added services to the digital economy. The other parts of the country continued manufacturing activities, contributing to the labor force of the country.

10. Economic landscape in Bulgaria

In 2021, the economy increased by 4.4 percent, with exports and consumption driving development. Bulgaria, like the majority of European nations, has suffered a dramatic acceleration in inflation since the summer of 2021, reaching 10.0 percent year on year in February 2022.

11. Market size in Bulgaria

The economy of the nation grew steadily till 2019. However, because to the epidemic, the export-oriented country suffered a setback, slowing its total development rate. The nation, which was originally primarily focused on industry, has gradually shifted its attention to the service sector. Bulgaria, being one of the first nations to establish an online presence, has a plethora of Internet Service Providers (ISPs). Broadband, fiber optic cable, and wireless connectivity have all been made accessible. Bulgaria has a decent internet connection, with an average speed of 30 Mbps. Furthermore, in places like as Sofia, Plovdiv, and Varna, this speed may reach 150 Mbps.

12. Minimum wage in Bulgaria

Bulgaria's minimum monthly wage is 650 EUR for all employees, regardless of age or experience. The Council of Ministers sets the minimum wage, so employers operating in Bulgaria should be aware of any changes to the law.