Bulgaria Schengen Residency Visa: Immigrate, Retire, and Live in Europe 2025

Summary

This video explores the benefits of moving to Bulgaria, particularly for retirees and expats. It highlights Bulgaria's 10% flat tax on income, with a double taxation treaty with the U.S., allowing for tax relief. The country's healthcare system is accessible to foreigners of all ages, with no upper age limit for residency. The video also touches on real estate opportunities, including lower-cost repossession homes. Julie and the host share their experiences living abroad and encourage viewers to reach out for more information on relocation, real estate, and travel resources.

Takeaways

• 😀 Bulgaria offers a flat 10% tax rate for freelancers, regardless of income size.
• 😀 There is a double taxation treaty between Bulgaria and the United States, ensuring that incomes originating from the US are taxed only in the US and not in Bulgaria.
• 😀 Incomes generated within Bulgaria (such as from local work or businesses) are subject to the 10% flat tax.
• 😀 Bulgaria does not impose an age limit for foreigners wishing to move to the country, even for people over 80 years old.
• 😀 As long as individuals are in good health, they are welcome to live in Bulgaria, regardless of their age.
• 😀 Bulgaria's healthcare system is accessible to foreigners, including pensioners, with no age restrictions.
• 😀 Bulgaria provides opportunities for low-cost living, especially through repossession properties.
• 😀 Those interested in real estate in Bulgaria can reach out for assistance in finding reputable contacts and properties.
• 😀 The video encourages people to join a Facebook group and subscribe to resources about living abroad, including health insurance.
• 😀 The speakers are traveling with their two dogs and are sharing their experiences and insights on living in different countries.
• 😀 Viewers are invited to comment, like the video, and follow the speakers' journey for more updates on living and traveling abroad.

Q & A

What is the tax rate for freelancers in Bulgaria?

Freelancers in Bulgaria are taxed at a flat rate of 10%, regardless of their income level.

How does the double taxation treaty between Bulgaria and the United States work?

The treaty allows income originating from the U.S. (such as rents or stock trading) to be taxed in the U.S. and not in Bulgaria. Conversely, income generated within Bulgaria (such as working in Bulgaria as an IT specialist) is taxed under Bulgarian law at 10%.

Is there an age limit for people moving to Bulgaria and accessing healthcare?

No, there is no age limit for individuals wanting to move to Bulgaria and access the healthcare system. People of any age, even up to 90 or 100 years old, can move to Bulgaria and enjoy healthcare services, as long as they are in good health.

Can someone 80 years old move to Bulgaria and live there?

Yes, an 80-year-old person can move to Bulgaria and live there. There is no age restriction for residency, and they can access healthcare if they are in good health.

What kinds of real estate options are available in Bulgaria for potential investors?

Bulgaria offers a variety of real estate options, including repossession homes, which could be available at lower prices. The country is known for its affordable housing market, making it an attractive option for potential investors.

How is the healthcare system in Bulgaria for foreigners?

Foreigners can access the Bulgarian healthcare system as long as they meet the necessary requirements, such as being in good health. There is no age limit to access healthcare services.

What kind of taxes do people pay on their income generated in Bulgaria?

Income generated in Bulgaria, whether from freelancing, working in a job, or running a business, is subject to a 10% flat tax rate.

Is it possible for U.S. residents to avoid double taxation in Bulgaria?

Yes, thanks to the double taxation treaty between the U.S. and Bulgaria, U.S. residents can avoid paying taxes in Bulgaria on income sourced from the U.S., such as rents or dividends from U.S. stocks.

Why is Bulgaria considered an attractive option for retirees or digital nomads?

Bulgaria offers a low cost of living, affordable housing, and a favorable tax environment for freelancers, making it an attractive option for retirees and digital nomads looking for a new place to live or work.

Can you provide an overview of the real estate market in Bulgaria?

The real estate market in Bulgaria is known for being relatively affordable compared to other European countries. In addition to standard properties, there are opportunities to purchase repossession homes at lower prices, making it an appealing market for investors.