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Demographics

• 994 sq. km
• Language: Bulgarian
• Predominant Religion: Bulgarian Orthodox
• Summer temperatures: 26 30 C
• Winter temperatures: -5 5 C
• Time zone: GMT +2; Apr-Sept GMT +3
• Capital: Sofia
• Sofia Population: 1, 189, 043 (14% of country)

Public Holidays

• 1 January - New Year
• 3 March - Liberation Day
• 1 May - Labour Day
• Late April/May - Easter
• 6 May - St. George's Day (Day of Bulgarian Army)
• 24 May - National Culture Day
• 6 September - the Union Day
• 22 September - the Independence Day
• 1 November - Day of National Revivals
• 24 December - Christmas Eve
• 25 December - Christmas
• 26 December - 1st day of Christmas

Electricity

• 220 Volt; 50 Hertz

Roads

• Right hand drive. Speed limits:
• Residential areas - 50 km/h
• Country roads - 90 km/h
• Motorways - 120 km/h

Checkpoints

• with Serbia: Kalotina (E80), Vrashka Chuka, Otomantsi
• with Republic of Macedonia: Gyueshevo (E871), Zlatarevo
• with Turkey: Kapitan Andreevo (E80), Malko Turnovo (E87)
• with Greece: Kulata (E79)
• with Romania: Vidin (E79), Oryahovo, Rousse (E70, E85), Silistra
• Black Sea Ports - Varna, Burgas
• Airports - Sofia, Varna, Bourgas

Shopping hours

• Offices - Mon-Fri 9am-5:30pm
• Banks - Mon-Fri 9am-4pm
• Shops - Mon-Fri 9am-7pm; half-day Saturday. But more of the shops stay open until 8pm on weekdays and 5pm on Saturdays. Few shops (except for grocery stores) are open on Sunday.

Money

• Bulgaria's currency is called Lev (BGL), plural: Leva. One Lev is made up of 100 stotinki. The currency was redenominated in 1999. Now it is tied to the EURO and the exchange rate is fixed at EURO 1 = BGL 1,95583.
• Exchange bureaux are found on all major streets in Sofia. Some of them, located in the downtown area of the city, charge commission but are not very up-front about it. Best to ask how much you will receive before you hand over your money. Don't be tempted to change money on the streets or you might be cheated. Travellers cheques must be cashed at banks and most charge a commission.
• In banks and 24-hour change bureaux. The exchange rate is announced eve

Credit Cards

• Visa, MasterCard, JCB, Diners Club, American Express, Access, Airplus.
• They can be used both on ATMs and for payment of all standard services in hotels, restaurants, night clubs, shops, car rentals, plane tickets, etc.

Climate and nature

• The predominant climate in Bulgaria is moderate and transitional-continental. There are 2,000 to 2,400 hours of sunlight per year. Four seasons. Dry, hot summer: average temperature (April - September) is 23C. Cold winter with snowfalls: average temperature is 0C. The average temperature for the year is 10.5C.
• A Mediterranean climate, with dry summers and mild, humid winters, prevails in the valley of the south-western Rhodope Mountains. The northern limits of the climatic zone are the Balkan Mountains.
• The average January temperature in Sofia ranges between -4C and 2C. The July temperature ranges between 16C and 27C. Along the Black Sea, the average January temperature ranges between -1C and 6C, and the July temperature ranges between 19C and 30C.
• The soft transitional-Mediterranean climate and the fertile soils are very suitable for growing the famous Bulgarian attar-yielding rose – a valuable raw material for perfumery, medical and the food, wine and tobacco industries.

Beach Climate Parameters
Average Value	May	June	July	August	September
Daily temperature C	22	26	29	29	24
Night temperature, C	12	16	17	15	13
Sea water temperature, C	15	19	21	23	20
Sunny hours per day	8	10	10	11	8
Rainy days per month	7	8	6	3	4

Mountain Climate Parameters
Average Value	December	January	February	March
Daily temperature C	-2.1	-4.6	-3.2	0.8
Average snow coverage (cm)	30-60	100-140	60	30
Snowy days per month	5	7	5	3

• Bulgarian mountains, wide valleys and its good infrastructure represent wonderful options for green tourism. You can choose from mountain-hiking, biking, climbing and so on. The three main tourists' destinations are the Rodopes, Balkan mountains and Strandja Mountain.

People and history

• The majority of the population is of Slav origin and the language is a Slavonic, closely related to Serbo-Croatian and similar to Russian. The alphabet is known as Cyrillic, after its founders, Saints Cyril and Methodius. Around 3% of the population are Roma (gypsies), and there are also sizable ethnic Armenian and Turkish populations.
• Bulgarian people are famous for their innate Eastern hospitality. They are also quite curious about the outside world and love to know what brings someone to their country. They are proud to show visitors the best of their countrys possessions.
• It is interesting that Bulgarians are closer to one another than people in many Western European countries. Family bonds are really strong. Great emphasis is still placed on celebrations such as Name Days (e.g. St. Stephan's day if your name is Stephan) when friends visit and join in the celebration of your name. This is true even for the cities, although city life has inevitably had a certain alienating effect.
• History has allotted Bulgaria a difficult and dramatic face. Bulgaria's lands were inhabited from earliest times and were part of several ancient civilizations, most notably the Thracian. Some of the world's oldest gold artifacts point to Bulgaria's Black Sea coast as the cradle of the world's metal production. Somewhat later, Bulgaria was incorporated into the Roman Empire, as exemplified by the well-preserved Roman amphitheater in Plovdiv.
• The forerunner of today's Bulgarian state was founded by the Bulgar Khans from Central Asia, who adopted Christianity as early as 865, fought against the Byzantine Empire and dominated the entire Balkan region on and off for several hundred years.
• Throughout its 13-century old history Bulgaria has played a key role in the region. Its location makes the country a natural bridge between the East and the West, the North and the South. Here has passed the road from London to Calcutta, since the Antiquity to the present days. Bulgaria's location makes it a peculiar diffusion zone of mutual cultural interpenetration.
• Bulgaria is a paradise on Earth for archeologists. As a crossroad of many cultures Bulgarian land was place where some of he most ancient towns in the world existed. So many civilizations lived on the Balkan Peninsula that there is hardly any place where there are not evidences of ancient life.

Religion and traditions

• Bulgaria preserved its Orthodox Christianity through five centuries of Muslim domination and fifty years of Communist atheism. Nowadays Bulgarians celebrate both Christian celebrations and traditional festivals, many of which have their roots in pagan beliefs. In some regions the predominant religion is Islam and in others the two religions coexist peacefully side-by-side.
• The Orthodox churches, with their dark, incense-filled interiors, spectacular icons and heavy wood-and-gold icons engender a sense of mystery and awe. Easter is the largest church celebration in Bulgaria, when a sea of people with swaying candles gather around the churches at midnight to hear mass.
• The traditional holidays, rooted deep in folklore, are more prevalent in rural Bulgaria than in the cities and tend to relate to the harvest and health. At the start of Lent, the 'Koukeri', men disguised in animal skins and furs, wearing grotesque painted masks, do the rounds of the villages banging loud bells to ward off evil spirits and ensure a good crop; whilst in the south east of Bulgaria 'Nestinari' still dance on burning embers to mark the beginning of summer on the feast of Saints Constantine and Elena. Even sophisticated city folk will get up at a wedding to join in the 'Horo' - a dance in a circle to folk music.

Investment Information

Reasons to buy in Bulgaria

• Countries similar to Bulgaria such as Czech Republic and Poland have experienced 250% growth in property prices in the 5 years prior to joining the EU. Bulgaria is scheduled to join the EU in 2007
• Properties along the Black Sea coast are already seeing strong growth according to the National Statistics Institute of Bulgaria
• Bulgaria is becoming increasingly popular as a tourist destination, according to a survey by TUI the biggest European tour operator Bulgaria ranks among the top seven tourist destinations
• Currency pegged to the EURO
• Diverse natural environment, ranging from sandy beaches, mountains, lakes, forests, spa towns, rural landscape to vibrant cities
• Cost of living in Bulgaria is extremely low by western standards
• The EU is funding the Beautiful Bulgaria project to restore and protect the architecture and heritage of the country
• The EU is also funding massive improvements to the infrastructure of the country. Already twenty one roads leading to tourism sites are under way to being renovated. The project is part of the PHARE program. Over the last fifteen months road sections with a total of 144 kilometers have been repaired
• Budget airlines are operating new routes to Bulgaria from 19 UK destinations, boosting scope for investment
• Bulgaria is also receiving substantial investment to redevelop key areas, notably in Sofia, the capital city, New embassies, offices, conference centres and hotels are being built and big international firms such as Citibank, Price Waterhouse Coopers and Deloitte and Touche are moving in

Useful information for Buyers

• The currency, the Bulgarian Lev, was tied to the Deutschmark, now the Euro, through a currency board arrangement; inflation is under control. The interest rate is below 4% and GDP is growing
• Population: 7.9 million (2001). 65% live in towns
• Capital city: Sofia, population 1.3 million
• Language: The official language is Bulgarian. English is widely used. German is spoken and a number of people in Sofia have a knowledge of French. As Russian and Bulgarian languages are closely related, Russian speakers should be able to make themselves understood
• Principal religion: The main religion is Eastern Orthodoxy. However, Muslim, catholic and protestant denominations are represented
• International dialing code from UK is 00 359
• Local currency: The unit of currency is the Bulgarian Lev (BGN), plural leva
• Weights and Measure: Metric system

Economic Information for Investors

• EU Association Agreement, EFTA and CEFTA (Central European Trade Agreement) agreements entail duty free or reduced tariff trade in goods and services within a market of 300 million consumers
• Currency board arrangement stable and predictable macro economic environment
• Strategic geographic location, natural gateway to the large markets of CIS, Asia and North Africa
• Attractive infrastructure projects in transport, telecommunications, water and energy
• Political stability, with a majority in parliament and public consensus on key social and economic priorities
• 33 bilateral agreements on the mutual protection and promotion of foreign investment
• 35 double taxation treaties
• One of the lowest costs centres in Europe
• Among the highest market growth potential in Eastern Europe
• Manufacturing industries with spare capacity, highly qualified specialists and skilled workforce
• High priority given to the attraction of foreign investment
• Tax incentives for certain investment projects

(source: UK Trade and Investment and Sofia Morning News)

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