During the last 15 years, I have lived in 6 different countries, often in amazing places like Munich, London, St. Petersburg, Salzburg and the Silicon Valley. And I traveled to at least 35 more countries to explore what the world has to offer.
But now some of my friends are wondering why I moved to a Bansko, a small mountain village in Bulgaria, of all places and I will share with you how I decided that Bansko is the best base for a location independent entrepreneur.
Can I work from anywhere? Yes, I can work wherever I travel, however long-term residency is different. I need to register my business, like an office, have real health insurance, store my stuff somewhere and don’t like to travel all the time. So a base is required and for me the following factors are important, let’s see how Bansko stacks up:
Top selection! Apartments for sale in Bansko! Check here
Visa / Residency / Legal:
Bulgaria is part of the EU, so no problem for EU citizens to reside here. And as part of the EU, running a business is totally above board, compared to a lot of nomad solutions like “perpetual traveler” or “flag theory”
Startup Ecosystem:
Even though there are not a lot of local funds and grants, startups have access to a lot of European funding opportunities. This wasn’t a major aspect for me as my business OpenStrom is an Austrian company, but in the future I might want to explore funding for other ventures.
Taxation:
10% flat income tax (business & private) and capped social security contribution at max. €260 per month seem like a fair proposal to me. The infrastructure is a little bit less developed than in other European countries and you shouldn’t expect lots of social services, but more money in your pocket means more freedom.
Properties for sale in BANSKO! BARGAIN PRICES!
Cost of living:
Compared to my last place of residence, Salzburg, everything here is about half of what I payed in Salzburg. With €500 you can live easily in Bansko, a €1000 gives you a very comfortable life style. A lunch menu starts at €2 and even in a more upscale restaurant I rarely spend more than €20 for dinner including drinks.
Apartments are available from €100 per month and you can even buy one starting around €10,000
Travel options:
Sofia is a 2 hour drive away and a major destination for Ryanair and Wizzair with lots of cheap flights throughout Europe starting from €10. Also Etihad has a lot of good deals towards SE Asia.
Bansko is very close to Greece, Turkey, Macedonia and other Balkan countries, so a good base for road trips. And honestly, I have barely covered the Balkan in past travels, so I am looking forward to learn more about this interesting region.
Coworking Space / Community: Matthias E Zeitler
